Jackson Financial (NYSE:JXN) Shares Gap Down – Here’s Why

Jackson Financial Inc. (NYSE:JXN)’s share price gapped down prior to trading on Monday . The stock had previously closed at $82.76, but opened at $80.48. Jackson Financial shares last traded at $80.19, with a volume of 82,979 shares.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Barclays increased their price objective on shares of Jackson Financial from $116.00 to $118.00 and gave the company an “overweight” rating in a report on Thursday, February 20th. Keefe, Bruyette & Woods increased their price objective on shares of Jackson Financial from $103.00 to $105.00 and gave the company a “market perform” rating in a report on Friday, February 28th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, Jackson Financial currently has an average rating of “Hold” and an average target price of $97.40.

Jackson Financial Stock Performance

The business’s fifty day moving average is $89.81 and its two-hundred day moving average is $92.86. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.46. The stock has a market capitalization of $5.98 billion, a PE ratio of 7.18 and a beta of 1.48.

Jackson Financial (NYSE:JXN) last posted its earnings results on Wednesday, February 19th. The company reported $4.65 earnings per share for the quarter, missing analysts’ consensus estimates of $4.72 by ($0.07). The company had revenue of $1.81 billion for the quarter, compared to analysts’ expectations of $1.81 billion. As a group, research analysts anticipate that Jackson Financial Inc. will post 20.55 EPS for the current fiscal year.

Jackson Financial Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Tuesday, March 11th will be issued a $0.80 dividend. The ex-dividend date of this dividend is Tuesday, March 11th. This is a positive change from Jackson Financial’s previous quarterly dividend of $0.70. This represents a $3.20 dividend on an annualized basis and a dividend yield of 3.89%. Jackson Financial’s dividend payout ratio (DPR) is 27.95%.

Insider Activity at Jackson Financial

In related news, CEO Scott Romine sold 7,000 shares of the firm’s stock in a transaction on Friday, March 7th. The stock was sold at an average price of $84.43, for a total value of $591,010.00. Following the completion of the sale, the chief executive officer now directly owns 85,276 shares in the company, valued at $7,199,852.68. This trade represents a 7.59 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.30% of the stock is currently owned by insiders.

Institutional Trading of Jackson Financial

Institutional investors have recently bought and sold shares of the stock. Gordian Capital Singapore Pte Ltd lifted its position in Jackson Financial by 300.0% in the third quarter. Gordian Capital Singapore Pte Ltd now owns 16,000 shares of the company’s stock worth $1,460,000 after buying an additional 12,000 shares during the last quarter. Proficio Capital Partners LLC purchased a new stake in shares of Jackson Financial during the fourth quarter valued at $1,160,000. World Investment Advisors LLC purchased a new stake in shares of Jackson Financial during the third quarter valued at $31,000. Centaurus Financial Inc. boosted its stake in shares of Jackson Financial by 135.1% during the third quarter. Centaurus Financial Inc. now owns 10,169 shares of the company’s stock valued at $928,000 after purchasing an additional 5,844 shares during the period. Finally, Stifel Financial Corp boosted its stake in shares of Jackson Financial by 43.3% during the third quarter. Stifel Financial Corp now owns 47,564 shares of the company’s stock valued at $4,340,000 after purchasing an additional 14,364 shares during the period. 89.96% of the stock is currently owned by institutional investors.

Jackson Financial Company Profile

Jackson Financial Inc, through its subsidiaries, provides suite of annuities to retail investors in the United States. The company operates through three segments: Retail Annuities, Institutional Products, and Closed Life and Annuity Blocks. The Retail Annuities segment offers various retirement income and savings products, including variable, fixed index, fixed, and payout annuities, as well as registered index-linked annuities and lifetime income solutions.