Jackson Financial (NYSE:JXN) Shares Down 8.7% After Earnings Miss

Jackson Financial Inc. (NYSE:JXN)’s stock price fell 8.7% during trading on Thursday following a weaker than expected earnings announcement. The company traded as low as $85.30 and last traded at $85.45. 315,972 shares traded hands during mid-day trading, a decline of 41% from the average session volume of 532,186 shares. The stock had previously closed at $93.58.

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 for the quarter, compared to analyst estimates of $1.81 billion.

Jackson Financial Increases Dividend

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

Analyst Upgrades and Downgrades

A number of research firms have commented on JXN. Barclays lifted their target price on shares of Jackson Financial from $116.00 to $118.00 and gave the stock an “overweight” rating in a research report on Thursday. Evercore ISI cut shares of Jackson Financial from an “in-line” rating to an “underperform” rating and lifted their price target for the stock from $74.00 to $95.00 in a research note on Thursday, November 14th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $92.80.

Insider Transactions at Jackson Financial

In other Jackson Financial news, Director Gregory T. Durant purchased 1,500 shares of the company’s stock in a transaction dated Wednesday, December 11th. The shares were acquired at an average price of $90.28 per share, for a total transaction of $135,420.00. Following the purchase, the director now directly owns 32,023 shares of the company’s stock, valued at $2,891,036.44. The trade was a 4.91 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 1.30% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of JXN. Empowered Funds LLC purchased a new position in shares of Jackson Financial during the 4th quarter valued at $26,000. Quarry LP purchased a new position in shares of Jackson Financial during the 4th quarter valued at $28,000. World Investment Advisors LLC purchased a new position in shares of Jackson Financial during the 3rd quarter valued at $31,000. Blue Trust Inc. lifted its stake in shares of Jackson Financial by 232.1% during the 3rd quarter. Blue Trust Inc. now owns 372 shares of the company’s stock valued at $34,000 after buying an additional 260 shares in the last quarter. Finally, SBI Securities Co. Ltd. purchased a new position in shares of Jackson Financial during the 4th quarter valued at $44,000. Hedge funds and other institutional investors own 89.96% of the company’s stock.

Jackson Financial Stock 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 business’s 50 day moving average is $90.93 and its two-hundred day moving average is $92.65. The company has a market cap of $6.03 billion, a PE ratio of 7.13 and a beta of 1.47.

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.