Jackson Financial Inc. (NYSE:JXN) Given Average Recommendation of “Hold” by Analysts

Shares of Jackson Financial Inc. (NYSE:JXN) have been given an average recommendation of “Hold” by the seven research firms that are presently covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating on the company. The average 1 year price target among brokers that have covered the stock in the last year is $109.20.

JXN has been the topic of a number of recent analyst reports. Evercore ISI boosted their price target on shares of Jackson Financial from $100.00 to $110.00 and gave the stock an “underperform” rating in a research report on Thursday. Morgan Stanley boosted their target price on shares of Jackson Financial from $97.00 to $106.00 and gave the stock an “equal weight” rating in a report on Tuesday. Zacks Research downgraded shares of Jackson Financial from a “strong-buy” rating to a “hold” rating in a report on Friday, September 12th. Barclays boosted their target price on shares of Jackson Financial from $118.00 to $125.00 and gave the stock an “overweight” rating in a report on Wednesday. Finally, Keefe, Bruyette & Woods boosted their target price on shares of Jackson Financial from $105.00 to $110.00 and gave the stock a “market perform” rating in a report on Thursday.

Institutional Investors Weigh In On Jackson Financial

A number of large investors have recently made changes to their positions in JXN. Norges Bank acquired a new stake in shares of Jackson Financial during the second quarter valued at approximately $102,131,000. Nuveen LLC acquired a new stake in shares of Jackson Financial during the first quarter valued at approximately $43,830,000. Millennium Management LLC raised its holdings in shares of Jackson Financial by 296.7% during the first quarter. Millennium Management LLC now owns 658,468 shares of the company’s stock valued at $55,166,000 after acquiring an additional 492,492 shares during the period. LSV Asset Management raised its holdings in shares of Jackson Financial by 28.3% during the second quarter. LSV Asset Management now owns 836,238 shares of the company’s stock valued at $74,250,000 after acquiring an additional 184,440 shares during the period. Finally, Cubist Systematic Strategies LLC raised its holdings in shares of Jackson Financial by 144.4% during the first quarter. Cubist Systematic Strategies LLC now owns 253,504 shares of the company’s stock valued at $21,239,000 after acquiring an additional 149,799 shares during the period. Institutional investors and hedge funds own 89.96% of the company’s stock.

Jackson Financial Stock Down 5.0%

JXN stock opened at $94.97 on Friday. Jackson Financial has a 52 week low of $64.70 and a 52 week high of $115.22. The company has a market capitalization of $6.61 billion, a price-to-earnings ratio of -1,582.57 and a beta of 1.45. The firm’s 50-day moving average is $97.33 and its two-hundred day moving average is $87.72. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 0.46.

Jackson Financial (NYSE:JXN) last released its quarterly earnings results on Wednesday, March 22nd. The company reported $6.26 EPS for the quarter. Jackson Financial had a net margin of 1.73% and a return on equity of 14.73%. The company had revenue of ($1,162.00) million for the quarter. On average, analysts forecast that Jackson Financial will post 20.55 earnings per share for the current fiscal year.

Jackson Financial announced that its board has approved a share repurchase program on Thursday, September 18th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the company to purchase up to 14.4% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board of directors believes its shares are undervalued.

Jackson Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 25th. Investors of record on Monday, September 15th were issued a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date was Monday, September 15th. Jackson Financial’s payout ratio is presently -5,333.33%.

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.