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

Jackson Financial Inc. (NYSE:JXN) was down 8.7% during trading on Thursday following a dissappointing earnings announcement. 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 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.72 by ($0.07). The business had revenue of $1.81 billion during the quarter, compared to the consensus estimate of $1.81 billion.

Jackson Financial Increases Dividend

The company also recently disclosed 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. This is a positive change from Jackson Financial’s previous quarterly dividend of $0.70. The ex-dividend date of this dividend is Tuesday, March 11th. This represents a $3.20 annualized dividend and a dividend yield of 3.92%. Jackson Financial’s dividend payout ratio (DPR) is presently 24.45%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on JXN shares. Barclays increased their target price 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 increased their target price for the stock from $74.00 to $95.00 in a research note on Thursday, November 14th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $92.80.

Insider Activity 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 stock was purchased at an average price of $90.28 per share, for a total transaction of $135,420.00. Following the completion of the transaction, the director now directly owns 32,023 shares in the company, valued at approximately $2,891,036.44. This trade represents a 4.91 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 1.30% of the stock is owned by insiders.

Institutional Investors Weigh In On Jackson Financial

A number of hedge funds have recently added to or reduced their stakes in the company. Empowered Funds LLC acquired a new stake in shares of Jackson Financial during the 4th quarter valued at approximately $26,000. Quarry LP acquired a new stake in shares of Jackson Financial during the 4th quarter valued at approximately $28,000. Blue Trust Inc. lifted its position 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 acquiring an additional 260 shares during the period. SBI Securities Co. Ltd. acquired a new stake in shares of Jackson Financial during the 4th quarter valued at approximately $44,000. Finally, Kapitalo Investimentos Ltda acquired a new stake in shares of Jackson Financial during the 4th quarter valued at approximately $79,000. Institutional investors and hedge funds own 89.96% of the company’s stock.

Jackson Financial Stock Performance

The stock’s 50-day moving average price is $90.93 and its 200-day moving average price is $92.65. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.30 and a current ratio of 0.30. The company has a market capitalization of $6.03 billion, a price-to-earnings 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.