Brokerages Set Jackson Financial Inc. (NYSE:JXN) PT at $113.00

Jackson Financial Inc. (NYSE:JXN) has been given an average rating of “Hold” by the seven analysts that are currently covering the company, Marketbeat reports. Five analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $113.00.

Several research analysts have recently weighed in on the stock. Evercore set a $118.00 price objective on shares of Jackson Financial and gave the stock an “in-line” rating in a report on Tuesday, January 6th. Morgan Stanley set a $105.00 price target on shares of Jackson Financial in a research report on Monday, December 15th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Jackson Financial in a research note on Monday, December 29th. Wall Street Zen upgraded shares of Jackson Financial from a “hold” rating to a “buy” rating in a report on Saturday, February 28th. Finally, Barclays reissued an “overweight” rating and set a $137.00 price objective on shares of Jackson Financial in a research note on Thursday, January 8th.

Jackson Financial Stock Performance

NYSE JXN opened at $103.49 on Tuesday. The business’s 50-day moving average price is $113.67 and its 200 day moving average price is $104.59. The company has a current ratio of 0.27, a quick ratio of 0.27 and a debt-to-equity ratio of 0.47. Jackson Financial has a twelve month low of $64.70 and a twelve month high of $123.61. The company has a market capitalization of $7.31 billion, a PE ratio of -295.69 and a beta of 1.46.

Jackson Financial (NYSE:JXN) last posted its quarterly earnings results on Wednesday, February 18th. The company reported $6.61 EPS for the quarter, beating the consensus estimate of $5.90 by $0.71. The business had revenue of $1.94 billion during the quarter, compared to analysts’ expectations of $1.92 billion. During the same quarter last year, the firm earned $4.65 EPS. The firm’s quarterly revenue was down 2.8% compared to the same quarter last year. On average, research analysts predict that Jackson Financial will post 20.55 earnings per share for the current year.

Jackson Financial Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 26th. Investors of record on Monday, March 16th will be issued a $0.90 dividend. The ex-dividend date is Monday, March 16th. This is an increase from Jackson Financial’s previous quarterly dividend of $0.80. This represents a $3.60 dividend on an annualized basis and a yield of 3.5%. Jackson Financial’s payout ratio is -914.29%.

Institutional Investors Weigh In On Jackson Financial

Several institutional investors and hedge funds have recently added to or reduced their stakes in JXN. Integrated Wealth Concepts LLC raised its holdings in shares of Jackson Financial by 33.2% in the 1st quarter. Integrated Wealth Concepts LLC now owns 5,471 shares of the company’s stock worth $458,000 after purchasing an additional 1,363 shares during the period. Woodline Partners LP purchased a new stake in shares of Jackson Financial during the 1st quarter worth about $4,081,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in Jackson Financial by 3.6% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 210,836 shares of the company’s stock worth $17,664,000 after purchasing an additional 7,380 shares in the last quarter. Envestnet Asset Management Inc. increased its position in Jackson Financial by 10.7% during the 2nd quarter. Envestnet Asset Management Inc. now owns 21,083 shares of the company’s stock worth $1,872,000 after purchasing an additional 2,034 shares in the last quarter. Finally, Bank of Montreal Can raised its holdings in Jackson Financial by 1.1% in the second quarter. Bank of Montreal Can now owns 12,857 shares of the company’s stock valued at $1,142,000 after buying an additional 142 shares during the period. 89.96% of the stock is currently owned by institutional investors and hedge funds.

Jackson Financial Company Profile

Jackson Financial Inc is a U.S.-based financial services holding company headquartered in Lansing, Michigan. The company operates primarily through its principal subsidiary, Jackson National Life Insurance Company, and specializes in designing and distributing retirement products. Jackson Financial has been publicly traded on the New York Stock Exchange under the ticker JXN since its initial public offering in May 2022.

The company’s core offerings include a broad range of fixed, variable and indexed annuity products aimed at helping individuals preserve and grow retirement assets.