Jackson Financial (NYSE:JXN) Price Target Raised to $118.00

Jackson Financial (NYSE:JXN) had its target price boosted by Barclays from $116.00 to $118.00 in a research note released on Thursday morning,Benzinga reports. The brokerage currently has an overweight rating on the stock.

Separately, Evercore ISI downgraded Jackson Financial from an “in-line” rating to an “underperform” rating and increased their price objective for the company from $74.00 to $95.00 in a report on Thursday, November 14th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $92.80.

Jackson Financial Trading Down 4.4 %

NYSE:JXN opened at $81.63 on Thursday. Jackson Financial has a twelve month low of $48.00 and a twelve month high of $115.22. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.46. The business has a 50 day moving average price of $90.93 and a two-hundred day moving average price of $92.79. The company has a market cap of $6.03 billion, a P/E ratio of 7.13 and a beta of 1.47.

Jackson Financial (NYSE:JXN) last released its quarterly earnings results on Wednesday, February 19th. The company reported $4.65 earnings per share for the quarter, missing analysts’ consensus estimates of $4.72 by ($0.07). The business had revenue of $1.81 billion during the quarter, compared to analysts’ expectations of $1.81 billion. As a group, analysts expect that Jackson Financial will post 20.55 EPS for the current fiscal year.

Jackson Financial Increases Dividend

The business 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 $0.80 dividend. This represents a $3.20 annualized dividend and a dividend yield of 3.92%. The ex-dividend date of this dividend is Tuesday, March 11th. This is an increase from Jackson Financial’s previous quarterly dividend of $0.70. Jackson Financial’s dividend payout ratio is presently 24.45%.

Insider Activity

In other Jackson Financial news, Director Gregory T. Durant purchased 1,500 shares of the business’s stock in a transaction on Wednesday, December 11th. The stock was acquired at an average price of $90.28 per share, with a total value of $135,420.00. Following the acquisition, the director now directly owns 32,023 shares of the company’s stock, valued at $2,891,036.44. This trade represents a 4.91 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 1.30% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Jackson Financial

Several hedge funds have recently added to or reduced their stakes in JXN. CWM LLC lifted its holdings in Jackson Financial by 62.0% during the 3rd quarter. CWM LLC now owns 1,660 shares of the company’s stock valued at $151,000 after purchasing an additional 635 shares during the last quarter. Creative Planning lifted its holdings in Jackson Financial by 10.2% during the 3rd quarter. Creative Planning now owns 4,041 shares of the company’s stock valued at $369,000 after purchasing an additional 373 shares during the last quarter. Blue Trust Inc. increased its position in Jackson Financial by 232.1% during the 3rd quarter. Blue Trust Inc. now owns 372 shares of the company’s stock worth $34,000 after buying an additional 260 shares during the period. Sequoia Financial Advisors LLC bought a new position in Jackson Financial during the 3rd quarter worth $244,000. Finally, Private Advisor Group LLC increased its position in Jackson Financial by 10.5% during the 3rd quarter. Private Advisor Group LLC now owns 16,537 shares of the company’s stock worth $1,509,000 after buying an additional 1,575 shares during the period. Institutional investors and hedge funds own 89.96% of the company’s stock.

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.