Jackson Financial (NYSE:JXN) Stock Price Down 7.9% – Here’s Why

Shares of Jackson Financial Inc. (NYSE:JXN) traded down 7.9% on Thursday . The stock traded as low as $99.67 and last traded at $99.67. 249,203 shares changed hands during trading, a decline of 66% from the average session volume of 733,328 shares. The stock had previously closed at $108.20.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Barclays boosted their price target on shares of Jackson Financial from $109.00 to $111.00 and gave the company an “overweight” rating in a research report on Tuesday, October 8th. Morgan Stanley upped their target price on shares of Jackson Financial from $86.00 to $89.00 and gave the company an “equal weight” rating in a research report on Monday, August 19th. Evercore ISI cut shares of Jackson Financial from an “in-line” rating to an “underperform” rating and upped their target price for the company from $74.00 to $95.00 in a research report on Thursday. Keefe, Bruyette & Woods upped their target price on shares of Jackson Financial from $80.00 to $82.00 and gave the company a “market perform” rating in a research report on Wednesday, August 14th. Finally, Jefferies Financial Group upped their target price on shares of Jackson Financial from $73.00 to $80.00 and gave the company a “hold” rating in a research report on Monday, July 29th. One analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $84.00.

Jackson Financial Price Performance

The company has a 50-day simple moving average of $95.43 and a 200-day simple moving average of $84.24. The stock has a market cap of $7.56 billion, a PE ratio of -7.95 and a beta of 1.48. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.30 and a quick ratio of 0.30.

Jackson Financial (NYSE:JXN) last released its quarterly earnings data on Wednesday, November 6th. The company reported $4.60 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.67 by ($0.07). The business had revenue of $2.12 billion during the quarter, compared to analysts’ expectations of $1.73 billion. During the same period last year, the firm earned $3.80 EPS. Sell-side analysts anticipate that Jackson Financial Inc. will post 18.8 EPS for the current fiscal year.

Jackson Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Thursday, December 5th will be given a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.79%. The ex-dividend date of this dividend is Thursday, December 5th. Jackson Financial’s dividend payout ratio is currently -22.15%.

Jackson Financial declared that its Board of Directors has authorized a share repurchase plan on Wednesday, August 7th that permits the company to repurchase $750.00 million in shares. This repurchase authorization permits the company to reacquire up to 10.8% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.

Insider Activity

In other news, EVP Carrie Chelko sold 5,500 shares of the firm’s stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $91.31, for a total value of $502,205.00. Following the completion of the transaction, the executive vice president now owns 61,829 shares in the company, valued at $5,645,605.99. This trade represents a 8.17 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 1.30% of the company’s stock.

Institutional Trading of Jackson Financial

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Cetera Investment Advisers acquired a new stake in Jackson Financial in the 1st quarter worth about $3,812,000. O Shaughnessy Asset Management LLC boosted its stake in Jackson Financial by 32.1% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 61,139 shares of the company’s stock worth $4,044,000 after buying an additional 14,848 shares during the last quarter. B. Riley Wealth Advisors Inc. boosted its stake in Jackson Financial by 16.5% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 41,031 shares of the company’s stock worth $2,714,000 after buying an additional 5,819 shares during the last quarter. UniSuper Management Pty Ltd acquired a new position in shares of Jackson Financial in the 1st quarter valued at about $866,000. Finally, DekaBank Deutsche Girozentrale lifted its stake in shares of Jackson Financial by 11.6% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 108,944 shares of the company’s stock valued at $7,073,000 after purchasing an additional 11,328 shares in the last quarter. Hedge funds and other institutional investors own 89.96% of the company’s stock.

About Jackson Financial

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.