Jackson Financial (NYSE:JXN) Price Target Raised to $111.00

Jackson Financial (NYSE:JXN) had its target price raised by Barclays from $109.00 to $111.00 in a research report released on Tuesday morning, Benzinga reports. They currently have an overweight rating on the stock.

Several other equities research analysts have also commented on JXN. Morgan Stanley upped their price target on shares of Jackson Financial from $86.00 to $89.00 and gave the company an equal weight rating in a report on Monday, August 19th. Keefe, Bruyette & Woods raised their target price on Jackson Financial from $80.00 to $82.00 and gave the stock a market perform rating in a report on Wednesday, August 14th. Jefferies Financial Group lifted their price target on Jackson Financial from $73.00 to $80.00 and gave the company a hold rating in a research report on Monday, July 29th. Finally, Evercore ISI dropped their price objective on shares of Jackson Financial from $75.00 to $73.00 and set an in-line rating on the stock in a research note on Wednesday, June 26th. Five equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, Jackson Financial has a consensus rating of Hold and an average price target of $80.33.

Jackson Financial Stock Performance

Shares of JXN opened at $98.05 on Tuesday. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.30 and a current ratio of 0.30. The stock has a 50-day moving average of $86.51 and a two-hundred day moving average of $78.08. The stock has a market cap of $7.38 billion, a P/E ratio of 3.62 and a beta of 1.50. Jackson Financial has a one year low of $36.06 and a one year high of $99.96.

Jackson Financial (NYSE:JXN) last issued its earnings results on Wednesday, August 7th. The company reported $5.32 EPS for the quarter, beating analysts’ consensus estimates of $4.32 by $1.00. The firm had revenue of $2.01 billion during the quarter, compared to analysts’ expectations of $1.71 billion. During the same quarter in the prior year, the company earned $3.34 EPS. Jackson Financial’s quarterly revenue was up 5.0% on a year-over-year basis. As a group, research analysts predict that Jackson Financial will post 18.59 EPS for the current year.

Jackson Financial announced that its board has initiated a share repurchase plan on Wednesday, August 7th that authorizes the company to repurchase $750.00 million in outstanding shares. This repurchase authorization authorizes the company to buy up to 10.8% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board believes its shares are undervalued.

Jackson Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 19th. Stockholders of record on Thursday, September 5th were paid a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 2.86%. The ex-dividend date was Thursday, September 5th. Jackson Financial’s payout ratio is 10.34%.

Insider Buying and Selling

In other Jackson Financial news, EVP Carrie Chelko sold 5,500 shares of the stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $91.31, for a total transaction of $502,205.00. Following the transaction, the executive vice president now directly owns 61,829 shares of the company’s stock, valued at $5,645,605.99. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.30% of the stock is owned by insiders.

Hedge Funds Weigh In On Jackson Financial

Several hedge funds and other institutional investors have recently made changes to their positions in JXN. Hantz Financial Services Inc. acquired a new position in Jackson Financial in the 2nd quarter valued at $25,000. EverSource Wealth Advisors LLC lifted its stake in shares of Jackson Financial by 400.0% in the first quarter. EverSource Wealth Advisors LLC now owns 395 shares of the company’s stock worth $27,000 after buying an additional 316 shares in the last quarter. GAMMA Investing LLC boosted its position in Jackson Financial by 47.0% during the first quarter. GAMMA Investing LLC now owns 482 shares of the company’s stock worth $32,000 after acquiring an additional 154 shares during the last quarter. Kapitalo Investimentos Ltda purchased a new stake in Jackson Financial during the 4th quarter valued at about $57,000. Finally, Valued Wealth Advisors LLC acquired a new stake in Jackson Financial in the 1st quarter valued at about $66,000. Hedge funds and other institutional investors 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.