Jackson Financial (NYSE:JXN) Shares Down 8.7% on Disappointing Earnings

Shares of Jackson Financial Inc. (NYSE:JXN) were down 8.7% on Thursday after the company announced weaker than expected quarterly earnings. The company traded as low as $85.30 and last traded at $85.45. Approximately 315,972 shares changed hands during trading, a decline of 41% from the average daily volume of 532,186 shares. The stock had previously closed at $93.58.

The company reported $4.65 EPS for the quarter, missing the consensus estimate of $4.72 by ($0.07). The business had revenue of $1.81 billion for the quarter, compared to analyst estimates of $1.81 billion.

Jackson Financial Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Tuesday, March 11th will be paid a $0.80 dividend. The ex-dividend date is Tuesday, March 11th. This represents a $3.20 annualized dividend and a yield of 3.92%. This is a boost from Jackson Financial’s previous quarterly dividend of $0.70. Jackson Financial’s payout ratio is presently 24.45%.

Analyst Ratings Changes

Several analysts have commented on JXN shares. Barclays boosted their price target on shares of Jackson Financial from $116.00 to $118.00 and gave the stock an “overweight” rating in a research note on Thursday. Evercore ISI downgraded shares of Jackson Financial from an “in-line” rating to an “underperform” rating and boosted their target price for the stock from $74.00 to $95.00 in a report on Thursday, November 14th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, Jackson Financial presently has a consensus rating of “Hold” and a consensus price target of $92.80.

Insider Transactions at Jackson Financial

In other news, Director Gregory T. Durant acquired 1,500 shares of Jackson Financial stock in a transaction that occurred on Wednesday, December 11th. The shares were bought at an average cost of $90.28 per share, with a total value of $135,420.00. Following the transaction, the director now directly owns 32,023 shares of the company’s stock, valued at $2,891,036.44. This trade represents a 4.91 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this link. 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 company. Gordian Capital Singapore Pte Ltd raised its position in Jackson Financial by 300.0% in the 3rd quarter. Gordian Capital Singapore Pte Ltd now owns 16,000 shares of the company’s stock worth $1,460,000 after purchasing an additional 12,000 shares during the period. CWA Asset Management Group LLC purchased a new stake in Jackson Financial in the 3rd quarter worth about $897,000. Assetmark Inc. raised its position in Jackson Financial by 7.9% in the 3rd quarter. Assetmark Inc. now owns 91,641 shares of the company’s stock worth $8,360,000 after purchasing an additional 6,724 shares during the period. World Investment Advisors LLC purchased a new stake in Jackson Financial in the 3rd quarter worth about $31,000. Finally, Centaurus Financial Inc. raised its position in Jackson Financial by 135.1% in the 3rd quarter. Centaurus Financial Inc. now owns 10,169 shares of the company’s stock worth $928,000 after purchasing an additional 5,844 shares during the period. 89.96% of the stock is owned by hedge funds and other institutional investors.

Jackson Financial Price Performance

The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.46. The company has a market capitalization of $6.03 billion, a PE ratio of 7.13 and a beta of 1.47. The stock’s 50-day moving average is $90.93 and its two-hundred day moving average is $92.65.

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.