Jackson Financial (NYSE:JXN) Shares Down 4.3% – Here’s What Happened

Jackson Financial Inc. (NYSE:JXN) traded down 4.3% during trading on Thursday . The stock traded as low as $128.87 and last traded at $131.2470. Approximately 480,279 shares were traded during mid-day trading, a decline of 21% from the average daily volume of 609,357 shares. The stock had previously closed at $137.10.

Analyst Ratings Changes

A number of equities research analysts recently commented on JXN shares. Wall Street Zen upgraded shares of Jackson Financial from a “hold” rating to a “buy” rating in a report on Saturday, August 8th. Jefferies Financial Group raised shares of Jackson Financial from a “hold” rating to a “buy” rating and raised their price target for the stock from $120.00 to $140.00 in a report on Friday, July 10th. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $140.00 price objective on shares of Jackson Financial in a research report on Friday. Evercore set a $135.00 price objective on shares of Jackson Financial in a research note on Wednesday, August 5th. Finally, Weiss Ratings upgraded shares of Jackson Financial from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday, August 4th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $133.80.

Jackson Financial Stock Up 2.4%

The company has a debt-to-equity ratio of 0.53, a current ratio of 0.26 and a quick ratio of 0.26. The stock has a market capitalization of $8.97 billion, a PE ratio of 186.54 and a beta of 1.30. The company has a 50 day moving average price of $130.54 and a 200-day moving average price of $115.71.

Jackson Financial (NYSE:JXN) last announced its quarterly earnings results on Monday, August 3rd. The company reported $7.30 EPS for the quarter, topping analysts’ consensus estimates of $5.72 by $1.58. The company had revenue of $2 billion during the quarter, compared to analyst estimates of $1.91 billion. Jackson Financial had a return on equity of 18.93% and a net margin of 1.59%.

Jackson Financial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 24th. Stockholders of record on Tuesday, September 15th will be paid a dividend of $0.90 per share. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $3.60 dividend on an annualized basis and a dividend yield of 2.7%. Jackson Financial’s payout ratio is presently 507.04%.

Insider Transactions at Jackson Financial

In related news, EVP Carrie Chelko sold 7,500 shares of the business’s stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $134.24, for a total transaction of $1,006,800.00. Following the transaction, the executive vice president owned 80,914 shares in the company, valued at $10,861,895.36. The trade was a 8.48% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Christopher Raub sold 5,000 shares of the stock in a transaction dated Wednesday, August 12th. The stock was sold at an average price of $130.69, for a total transaction of $653,450.00. Following the completion of the transaction, the chief executive officer directly owned 42,160 shares of the company’s stock, valued at approximately $5,509,890.40. The trade was a 10.60% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 1.40% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Bank of New York Mellon Corp boosted its holdings in shares of Jackson Financial by 2.8% during the 1st quarter. Bank of New York Mellon Corp now owns 910,853 shares of the company’s stock valued at $96,295,000 after buying an additional 24,747 shares in the last quarter. Renaissance Technologies LLC bought a new position in shares of Jackson Financial in the 1st quarter worth about $10,836,000. Walleye Capital LLC bought a new position in shares of Jackson Financial in the 1st quarter worth about $1,369,000. Bank of America Corp DE increased its stake in shares of Jackson Financial by 17.5% in the 1st quarter. Bank of America Corp DE now owns 325,222 shares of the company’s stock worth $34,382,000 after acquiring an additional 48,399 shares in the last quarter. Finally, Candriam S.C.A. lifted its position in Jackson Financial by 31.5% during the 1st quarter. Candriam S.C.A. now owns 177,950 shares of the company’s stock valued at $18,813,000 after acquiring an additional 42,607 shares during the period. Institutional investors own 89.96% of the company’s stock.

About Jackson Financial

Jackson Financial Inc (NYSE:JXN) is a U.S.-based financial services company focused on providing retirement income solutions. Through its insurance subsidiaries, the company primarily develops and distributes annuity products designed to help individuals accumulate retirement savings and generate income during retirement.

Jackson’s product portfolio includes variable annuities, fixed annuities and registered index-linked annuities. Its offerings are distributed through financial professionals and other intermediary channels, serving individuals and institutions seeking tax-deferred retirement accumulation, income planning and related financial solutions.

Headquartered in Lansing, Michigan, Jackson primarily serves customers in the United States through Jackson National Life Insurance Company and related entities, including Jackson National Life Insurance Company of New York.