Jackson Financial (NYSE:JXN) PT Raised to $70.00

Jackson Financial (NYSE:JXN) had its target price raised by Morgan Stanley from $52.00 to $70.00 in a report issued on Monday, Benzinga reports. The brokerage currently has an equal weight rating on the stock.

A number of other research analysts also recently commented on the company. Jefferies Financial Group reaffirmed a hold rating and set a $55.00 target price on shares of Jackson Financial in a report on Tuesday, January 2nd. The Goldman Sachs Group increased their target price on Jackson Financial from $39.00 to $47.00 and gave the stock a neutral rating in a report on Tuesday, January 9th. Keefe, Bruyette & Woods increased their target price on Jackson Financial from $68.00 to $75.00 and gave the stock an outperform rating in a report on Wednesday, April 10th. Finally, Evercore ISI increased their price target on Jackson Financial from $55.00 to $62.00 and gave the stock an in-line rating in a research report on Thursday, April 11th. Four research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of Hold and an average price target of $61.80.

Jackson Financial Trading Up 1.3 %

NYSE:JXN opened at $64.37 on Monday. The company has a quick ratio of 0.33, a current ratio of 0.33 and a debt-to-equity ratio of 0.41. The business’s 50 day moving average is $59.66 and its two-hundred day moving average is $50.70. Jackson Financial has a 52 week low of $26.70 and a 52 week high of $68.97. The company has a market cap of $4.98 billion, a PE ratio of 6.56 and a beta of 1.57.

Jackson Financial (NYSE:JXN) last released its earnings results on Wednesday, February 21st. The company reported $2.53 EPS for the quarter, missing analysts’ consensus estimates of $3.53 by ($1.00). The business had revenue of $1.93 billion during the quarter, compared to the consensus estimate of $1.40 billion. During the same quarter in the previous year, the company posted $5.66 earnings per share. The firm’s revenue was up 3.3% compared to the same quarter last year. On average, analysts predict that Jackson Financial will post 15.95 EPS for the current year.

Jackson Financial Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 21st. Stockholders of record on Tuesday, March 12th were given a dividend of $0.70 per share. The ex-dividend date was Monday, March 11th. This is a boost from Jackson Financial’s previous quarterly dividend of $0.62. This represents a $2.80 annualized dividend and a dividend yield of 4.35%. Jackson Financial’s dividend payout ratio (DPR) is 28.54%.

Insider Activity

In other news, Director Derek G. Kirkland purchased 3,500 shares of the stock in a transaction dated Monday, March 4th. The shares were bought at an average cost of $55.67 per share, for a total transaction of $194,845.00. Following the transaction, the director now owns 37,726 shares in the company, valued at $2,100,206.42. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.70% of the stock is owned by insiders.

Hedge Funds Weigh In On Jackson Financial

Several hedge funds have recently modified their holdings of JXN. NBC Securities Inc. acquired a new position in shares of Jackson Financial during the 3rd quarter valued at $28,000. GAMMA Investing LLC boosted its stake in shares of Jackson Financial by 47.0% during the 1st quarter. GAMMA Investing LLC now owns 482 shares of the company’s stock worth $32,000 after acquiring an additional 154 shares in the last quarter. Daiwa Securities Group Inc. bought a new stake in shares of Jackson Financial during the 4th quarter worth $36,000. Headlands Technologies LLC bought a new stake in shares of Jackson Financial during the 4th quarter worth $38,000. Finally, Federated Hermes Inc. boosted its stake in shares of Jackson Financial by 199.8% during the 3rd quarter. Federated Hermes Inc. now owns 1,382 shares of the company’s stock worth $38,000 after acquiring an additional 921 shares in the last quarter. 89.96% of the stock is currently owned by institutional investors and hedge funds.

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.