Jackson Financial (NYSE:JXN) Shares Down 4.3% – What’s Next?

Jackson Financial Inc. (NYSE:JXN) fell 4.3% during trading on Thursday . The company traded as low as $128.87 and last traded at $131.2470. Approximately 480,279 shares traded hands during mid-day trading, a decline of 21% from the average session volume of 609,357 shares. The stock had previously closed at $137.10.

Wall Street Analysts Forecast Growth

JXN has been the topic of a number of analyst reports. Keefe, Bruyette & Woods lifted their price objective on shares of Jackson Financial from $130.00 to $140.00 and gave the stock a “market perform” rating in a report on Wednesday, August 5th. Evercore set a $135.00 price target on shares of Jackson Financial in a research report on Wednesday, August 5th. Barclays increased their price objective on shares of Jackson Financial from $139.00 to $149.00 and gave the company an “overweight” rating in a research note on Tuesday, August 4th. Wall Street Zen raised Jackson Financial from a “hold” rating to a “buy” rating in a report on Saturday, August 8th. Finally, Jefferies Financial Group upgraded Jackson Financial from a “hold” rating to a “buy” rating and lifted their price target for the stock from $120.00 to $140.00 in a report on Friday, July 10th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $133.80.

Jackson Financial Trading Down 4.9%

The company has a quick ratio of 0.26, a current ratio of 0.26 and a debt-to-equity ratio of 0.53. The firm has a 50 day moving average of $129.86 and a 200 day moving average of $115.45. The firm has a market cap of $8.83 billion, a PE ratio of 183.04 and a beta of 1.30.

Jackson Financial (NYSE:JXN) last issued its earnings results on Monday, August 3rd. The company reported $7.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.72 by $1.58. The firm had revenue of $2 billion for the quarter, compared to analyst estimates of $1.91 billion. Jackson Financial had a return on equity of 18.93% and a net margin of 1.59%.

Jackson Financial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 24th. Shareholders of record on Tuesday, September 15th will be issued a dividend of $0.90 per share. This represents a $3.60 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date of this dividend is Tuesday, September 15th. Jackson Financial’s payout ratio is presently 507.04%.

Insider Activity at Jackson Financial

In other news, CEO Christopher Raub sold 5,000 shares of the business’s stock in a transaction on Wednesday, August 12th. The shares were sold at an average price of $130.69, for a total transaction of $653,450.00. Following the completion of the transaction, the chief executive officer directly owned 42,160 shares in the company, valued at $5,509,890.40. The trade was a 10.60% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Carrie Chelko sold 7,500 shares of the stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $134.24, for a total value of $1,006,800.00. Following the completion of the sale, the executive vice president owned 80,914 shares in the company, valued at $10,861,895.36. This trade represents a 8.48% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 1.40% of the stock is currently owned by insiders.

Institutional Trading of Jackson Financial

A number of large investors have recently modified their holdings of JXN. Dimensional Fund Advisors LP increased its position in shares of Jackson Financial by 0.5% in the first quarter. Dimensional Fund Advisors LP now owns 4,060,350 shares of the company’s stock worth $429,240,000 after purchasing an additional 18,740 shares during the last quarter. Donald Smith & CO. Inc. bought a new stake in Jackson Financial during the second quarter valued at approximately $183,186,000. Hsbc Holdings PLC grew its stake in Jackson Financial by 16.5% in the 4th quarter. Hsbc Holdings PLC now owns 1,550,942 shares of the company’s stock worth $166,476,000 after buying an additional 220,095 shares in the last quarter. Norges Bank bought a new position in shares of Jackson Financial in the 4th quarter worth $129,878,000. Finally, Bank of New York Mellon Corp increased its holdings in shares of Jackson Financial by 2.8% in the 1st quarter. Bank of New York Mellon Corp now owns 910,853 shares of the company’s stock worth $96,295,000 after buying an additional 24,747 shares during the last quarter. Institutional investors own 89.96% of the company’s stock.

About Jackson Financial

Jackson Financial Inc (NYSE:JXN) is a U.S.-based financial services company focused on providing retirement income solutions. Through its insurance subsidiaries, the company primarily develops and distributes annuity products designed to help individuals accumulate retirement savings and generate income during retirement.

Jackson’s product portfolio includes variable annuities, fixed annuities and registered index-linked annuities. Its offerings are distributed through financial professionals and other intermediary channels, serving individuals and institutions seeking tax-deferred retirement accumulation, income planning and related financial solutions.

Headquartered in Lansing, Michigan, Jackson primarily serves customers in the United States through Jackson National Life Insurance Company and related entities, including Jackson National Life Insurance Company of New York.