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

Shares of Jackson Financial Inc. (NYSE:JXN) gapped down before the market opened 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.

Analyst Ratings Changes

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

Jackson Financial Stock Down 1.0 %

The business has a 50-day simple moving average of $89.53 and a 200-day simple moving average of $92.77. The company has a market cap of $5.99 billion, a PE ratio of 7.21 and a beta of 1.48. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.46.

Jackson Financial (NYSE:JXN) last announced its earnings results on Wednesday, February 19th. The company reported $4.65 EPS for the quarter, missing analysts’ consensus estimates of $4.72 by ($0.07). The business had revenue of $1.81 billion during the quarter, compared to analyst estimates of $1.81 billion. Equities research analysts anticipate that Jackson Financial Inc. will post 20.55 EPS for the current year.

Jackson Financial Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Tuesday, March 11th will be issued a dividend of $0.80 per share. The ex-dividend date of this dividend is Tuesday, March 11th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 3.88%. This is a boost from Jackson Financial’s previous quarterly dividend of $0.70. Jackson Financial’s dividend payout ratio is presently 27.95%.

Insider Buying and Selling at Jackson Financial

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

Institutional Investors Weigh In On Jackson Financial

Several hedge funds and other institutional investors have recently made changes to their positions in JXN. Atria Investments Inc increased its holdings in shares of Jackson Financial by 35.7% in the third quarter. Atria Investments Inc now owns 5,446 shares of the company’s stock valued at $497,000 after purchasing an additional 1,433 shares during the last quarter. Oppenheimer & Co. Inc. increased its holdings in shares of Jackson Financial by 13.1% in the third quarter. Oppenheimer & Co. Inc. now owns 13,489 shares of the company’s stock valued at $1,231,000 after purchasing an additional 1,564 shares during the last quarter. KBC Group NV increased its holdings in shares of Jackson Financial by 36.7% in the third quarter. KBC Group NV now owns 2,309 shares of the company’s stock valued at $211,000 after purchasing an additional 620 shares during the last quarter. CIBC Asset Management Inc increased its holdings in shares of Jackson Financial by 4.8% in the third quarter. CIBC Asset Management Inc now owns 7,197 shares of the company’s stock valued at $657,000 after purchasing an additional 331 shares during the last quarter. Finally, Natixis Advisors LLC increased its holdings in shares of Jackson Financial by 10.9% in the third quarter. Natixis Advisors LLC now owns 16,556 shares of the company’s stock valued at $1,510,000 after purchasing an additional 1,621 shares during the last quarter. Institutional investors and hedge funds own 89.96% of the company’s stock.

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.