Jackson Financial (NYSE:JXN) Sets New 12-Month High – What’s Next?

Jackson Financial Inc. (NYSE:JXN)’s share price reached a new 52-week high during trading on Wednesday . The stock traded as high as $107.95 and last traded at $106.8250, with a volume of 63040 shares. The stock had previously closed at $106.71.

Wall Street Analysts Forecast Growth

JXN has been the topic of a number of research analyst reports. Barclays boosted their target price on Jackson Financial from $125.00 to $128.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 5th. Keefe, Bruyette & Woods lifted their price objective on shares of Jackson Financial from $105.00 to $110.00 and gave the stock a “market perform” rating in a research report on Thursday, October 9th. Evercore ISI upped their price objective on Jackson Financial from $100.00 to $110.00 and gave the company an “underperform” rating in a research note on Thursday, October 9th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Jackson Financial in a research report on Monday. Finally, Zacks Research upgraded shares of Jackson Financial from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 13th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Jackson Financial presently has a consensus rating of “Hold” and an average price target of $109.60.

Jackson Financial Price Performance

The stock has a market capitalization of $7.21 billion, a PE ratio of 14.69 and a beta of 1.45. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.27 and a quick ratio of 0.27. The firm’s 50 day simple moving average is $97.56 and its 200 day simple moving average is $93.89.

Jackson Financial (NYSE:JXN) last released its earnings results on Wednesday, March 22nd. The company reported $6.26 EPS for the quarter. The company had revenue of ($1,162.00) million for the quarter. Jackson Financial had a net margin of 1.73% and a return on equity of 15.73%. As a group, equities analysts forecast that Jackson Financial Inc. will post 20.55 EPS for the current fiscal year.

Jackson Financial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 18th. Stockholders of record on Thursday, December 4th will be paid a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date of this dividend is Thursday, December 4th. Jackson Financial’s payout ratio is 44.26%.

Jackson Financial announced that its Board of Directors has authorized a stock buyback plan on Thursday, September 18th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the company to reacquire up to 14.4% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board believes its stock is undervalued.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in JXN. Samalin Investment Counsel LLC boosted its position in Jackson Financial by 2.0% during the 3rd quarter. Samalin Investment Counsel LLC now owns 5,370 shares of the company’s stock valued at $544,000 after buying an additional 104 shares during the period. Smartleaf Asset Management LLC raised its stake in shares of Jackson Financial by 11.1% during the third quarter. Smartleaf Asset Management LLC now owns 1,142 shares of the company’s stock valued at $117,000 after acquiring an additional 114 shares during the last quarter. Integrated Wealth Concepts LLC boosted its holdings in shares of Jackson Financial by 2.7% during the third quarter. Integrated Wealth Concepts LLC now owns 4,833 shares of the company’s stock worth $489,000 after purchasing an additional 128 shares during the period. Bessemer Group Inc. boosted its holdings in shares of Jackson Financial by 46.9% during the third quarter. Bessemer Group Inc. now owns 404 shares of the company’s stock worth $41,000 after purchasing an additional 129 shares during the period. Finally, Hantz Financial Services Inc. grew its stake in shares of Jackson Financial by 23.5% in the third quarter. Hantz Financial Services Inc. now owns 689 shares of the company’s stock worth $70,000 after purchasing an additional 131 shares during the last quarter. 89.96% of the stock is owned by hedge funds and other institutional investors.

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.