Jackson Financial (NYSE:JXN) Shares Gap Down to $40.02

Jackson Financial Inc. (NYSE:JXN – Get Rating) shares gapped down before the market opened on Monday . The stock had previously closed at $40.02, but opened at $36.51. Jackson Financial shares last traded at $36.71, with a volume of 376,004 shares changing hands.

Analyst Upgrades and Downgrades

Several analysts have recently commented on JXN shares. Morgan Stanley increased their price target on shares of Jackson Financial from $39.00 to $40.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 10th. Jefferies Financial Group raised their price objective on shares of Jackson Financial from $46.00 to $55.00 and gave the company a “buy” rating in a research note on Tuesday, February 21st. Finally, Evercore ISI increased their target price on shares of Jackson Financial to $38.00 in a report on Wednesday, November 16th.

Jackson Financial Trading Up 3.0 %

The company’s fifty day simple moving average is $42.53 and its two-hundred day simple moving average is $36.81. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.48. The company has a market capitalization of $3.12 billion, a price-to-earnings ratio of 0.60 and a beta of 1.67.

Jackson Financial (NYSE:JXN – Get Rating) last posted its earnings results on Tuesday, February 28th. The company reported $5.66 earnings per share for the quarter, topping the consensus estimate of $5.39 by $0.27. Jackson Financial had a net margin of 42.47% and a return on equity of 14.63%. The company had revenue of $1.87 billion for the quarter, compared to analyst estimates of $1.41 billion. During the same period last year, the business posted $7.48 earnings per share. The business’s revenue for the quarter was down 10.9% compared to the same quarter last year. Research analysts forecast that Jackson Financial Inc. will post 17.13 earnings per share for the current fiscal year.

Jackson Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 23rd. Investors of record on Tuesday, March 14th will be issued a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a dividend yield of 6.55%. This is a positive change from Jackson Financial’s previous quarterly dividend of $0.55. The ex-dividend date is Monday, March 13th. Jackson Financial’s dividend payout ratio (DPR) is presently 3.47%.

Institutional Investors Weigh In On Jackson Financial

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Dodge & Cox grew its position in shares of Jackson Financial by 26.7% in the 2nd quarter. Dodge & Cox now owns 4,154,006 shares of the company’s stock valued at $111,120,000 after acquiring an additional 876,585 shares during the period. Price T Rowe Associates Inc. MD grew its position in shares of Jackson Financial by 4.0% in the 3rd quarter. Price T Rowe Associates Inc. MD now owns 4,098,421 shares of the company’s stock valued at $113,732,000 after acquiring an additional 159,165 shares during the period. State Street Corp grew its position in shares of Jackson Financial by 5.0% in the 3rd quarter. State Street Corp now owns 2,350,244 shares of the company’s stock valued at $65,219,000 after acquiring an additional 111,959 shares during the period. Marshall Wace LLP grew its position in shares of Jackson Financial by 0.9% in the 4th quarter. Marshall Wace LLP now owns 2,137,192 shares of the company’s stock valued at $74,353,000 after acquiring an additional 19,519 shares during the period. Finally, Dimensional Fund Advisors LP grew its position in shares of Jackson Financial by 87.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,862,794 shares of the company’s stock valued at $64,808,000 after acquiring an additional 871,591 shares during the period. 82.40% of the stock is currently owned by institutional investors and hedge funds.

About Jackson Financial

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Jackson Financial Inc, through its subsidiaries, primarily provides a 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 immediate payout annuities, as well as registered index-linked annuities and lifetime income solutions.