Jackson Financial Inc. (NYSE:JXN) Sees Significant Decline in Short Interest

Jackson Financial Inc. (NYSE:JXN – Get Rating) was the target of a large decline in short interest during the month of December. As of December 15th, there was short interest totalling 3,540,000 shares, a decline of 20.3% from the November 30th total of 4,440,000 shares. Approximately 5.7% of the shares of the company are sold short. Based on an average daily volume of 881,900 shares, the days-to-cover ratio is presently 4.0 days.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on JXN shares. Evercore ISI upped their target price on Jackson Financial to $38.00 in a research note on Wednesday, November 16th. Morgan Stanley upped their target price on Jackson Financial from $37.00 to $39.00 and gave the stock an “equal weight” rating in a research note on Thursday, November 17th. Finally, Jefferies Financial Group upped their target price on Jackson Financial from $38.00 to $40.00 and gave the stock a “buy” rating in a research note on Thursday, September 8th.

Jackson Financial Price Performance

JXN traded down $0.96 during trading on Friday, hitting $34.79. The company’s stock had a trading volume of 454,012 shares, compared to its average volume of 672,225. The company has a current ratio of 0.37, a quick ratio of 0.37 and a debt-to-equity ratio of 0.45. The firm has a market capitalization of $2.89 billion, a price-to-earnings ratio of 0.45 and a beta of 1.52. The business’s fifty day simple moving average is $35.81 and its 200 day simple moving average is $31.80. Jackson Financial has a twelve month low of $23.56 and a twelve month high of $47.76.

Jackson Financial (NYSE:JXN – Get Rating) last released its quarterly earnings results on Wednesday, November 9th. The company reported $4.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.75 by $1.49. The firm had revenue of $4.02 billion for the quarter, compared to analysts’ expectations of $1.43 billion. Jackson Financial had a net margin of 42.47% and a return on equity of 16.04%. On average, equities research analysts forecast that Jackson Financial will post 14.92 EPS for the current fiscal year.

Jackson Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, December 15th. Investors of record on Thursday, December 1st were issued a $0.55 dividend. This represents a $2.20 annualized dividend and a yield of 6.32%. The ex-dividend date of this dividend was Wednesday, November 30th. Jackson Financial’s payout ratio is presently 2.82%.

Institutional Investors Weigh In On Jackson Financial

Several institutional investors and hedge funds have recently added to or reduced their stakes in JXN. EJF Capital LLC increased its holdings in Jackson Financial by 2,218.3% in the 1st quarter. EJF Capital LLC now owns 1,759,620 shares of the company’s stock worth $77,828,000 after acquiring an additional 1,683,720 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in Jackson Financial by 38.2% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 3,939,256 shares of the company’s stock worth $105,375,000 after acquiring an additional 1,088,980 shares in the last quarter. State Street Corp increased its holdings in Jackson Financial by 88.6% in the 2nd quarter. State Street Corp now owns 2,238,285 shares of the company’s stock worth $59,874,000 after acquiring an additional 1,051,563 shares in the last quarter. Dodge & Cox increased its holdings in Jackson Financial by 26.7% in the 2nd quarter. Dodge & Cox now owns 4,154,006 shares of the company’s stock worth $111,120,000 after acquiring an additional 876,585 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in Jackson Financial by 517.5% during the 3rd quarter. Dimensional Fund Advisors LP now owns 991,203 shares of the company’s stock worth $27,507,000 after purchasing an additional 830,676 shares during the last quarter. Hedge funds and other institutional investors own 82.40% of the company’s stock.

Jackson Financial Company Profile

(Get Rating)

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.

Further Reading

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