Jackson Financial (NYSE:JXN) Shares Down 8.7% – Time to Sell?

Jackson Financial Inc. (NYSE:JXN)’s share price was down 8.7% during trading on Thursday . The stock traded as low as $85.30 and last traded at $85.45. Approximately 315,972 shares were traded during trading, a decline of 41% from the average daily volume of 532,186 shares. The stock had previously closed at $93.58.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. Barclays increased their price objective on Jackson Financial from $116.00 to $118.00 and gave the stock an “overweight” rating in a report on Thursday. Evercore ISI lowered shares of Jackson Financial from an “in-line” rating to an “underperform” rating and upped their price target for the stock from $74.00 to $95.00 in a research note on Thursday, November 14th. One research analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, Jackson Financial currently has a consensus rating of “Hold” and a consensus target price of $92.80.

Jackson Financial Price Performance

The company has a market cap of $6.39 billion, a P/E ratio of -6.82 and a beta of 1.47. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.30 and a quick ratio of 0.30. The company has a fifty day simple moving average of $91.26 and a 200-day simple moving average of $92.62.

Jackson Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Tuesday, March 11th will be issued a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a dividend yield of 3.70%. This is a positive change from Jackson Financial’s previous quarterly dividend of $0.70. Jackson Financial’s dividend payout ratio (DPR) is presently -22.15%.

Insider Activity

In other news, Director Gregory T. Durant bought 1,500 shares of Jackson Financial stock in a transaction dated Wednesday, December 11th. The shares were bought at an average price of $90.28 per share, for a total transaction of $135,420.00. Following the purchase, the director now owns 32,023 shares of the company’s stock, 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 available through this link. Corporate insiders own 1.30% of the company’s stock.

Institutional Trading of Jackson Financial

Hedge funds have recently modified their holdings of the company. First Trust Advisors LP boosted its stake in Jackson Financial by 13.4% in the fourth quarter. First Trust Advisors LP now owns 4,134,545 shares of the company’s stock worth $360,036,000 after purchasing an additional 487,803 shares in the last quarter. State Street Corp increased its position in Jackson Financial by 4.9% in the third quarter. State Street Corp now owns 3,266,981 shares of the company’s stock worth $298,047,000 after purchasing an additional 153,326 shares during the period. Geode Capital Management LLC lifted its position in Jackson Financial by 0.6% during the 4th quarter. Geode Capital Management LLC now owns 2,099,517 shares of the company’s stock valued at $188,522,000 after purchasing an additional 13,362 shares during the period. Norges Bank acquired a new position in Jackson Financial during the 4th quarter valued at about $98,767,000. Finally, Jacobs Levy Equity Management Inc. boosted its stake in shares of Jackson Financial by 0.5% in the 4th quarter. Jacobs Levy Equity Management Inc. now owns 1,082,974 shares of the company’s stock valued at $94,305,000 after purchasing an additional 4,987 shares during the last quarter. Institutional investors and hedge funds own 89.96% of the company’s stock.

About Jackson Financial

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.