Jackson Financial (NYSE:JXN) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Jackson Financial (NYSE:JXN) from a hold rating to a buy rating in a research note published on Saturday.

A number of other equities analysts also recently commented on the stock. Jefferies Financial Group raised shares of Jackson Financial from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $120.00 to $140.00 in a report on Friday, July 10th. Keefe, Bruyette & Woods increased their target price on shares of Jackson Financial from $130.00 to $140.00 and gave the stock a “market perform” rating in a report on Wednesday, August 5th. Evercore set a $135.00 price target on shares of Jackson Financial in a research report on Wednesday, August 5th. Barclays lifted their price target on shares of Jackson Financial from $139.00 to $149.00 and gave the company an “overweight” rating in a report on Tuesday, August 4th. Finally, Weiss Ratings raised shares of Jackson Financial from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday, August 4th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $133.80.

Jackson Financial Trading Up 0.6%

NYSE:JXN opened at $130.74 on Friday. The company has a market cap of $8.86 billion, a PE ratio of 184.14 and a beta of 1.30. The business’s 50 day moving average is $114.81 and its two-hundred day moving average is $111.77. The company has a quick ratio of 0.26, a current ratio of 0.26 and a debt-to-equity ratio of 0.53. Jackson Financial has a 52 week low of $89.67 and a 52 week high of $137.99.

Jackson Financial (NYSE:JXN) last issued its quarterly earnings results on Monday, August 3rd. The company reported $7.30 earnings per share for the quarter, beating analysts’ consensus estimates of $5.72 by $1.58. The business had revenue of $2 billion during the quarter, compared to the consensus estimate of $1.91 billion. Jackson Financial had a return on equity of 18.93% and a net margin of 1.59%.

Jackson Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 24th. Stockholders of record on Tuesday, September 15th will be issued a dividend of $0.90 per share. This represents a $3.60 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date of this dividend is Tuesday, September 15th. Jackson Financial’s payout ratio is 507.04%.

Insider Activity

In other news, EVP Carrie Chelko sold 7,500 shares of the business’s stock in a transaction that occurred on Wednesday, August 5th. The stock was sold at an average price of $134.24, for a total transaction of $1,006,800.00. Following the completion of the transaction, the executive vice president directly owned 80,914 shares in the company, valued at approximately $10,861,895.36. The trade was a 8.48% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 1.40% of the company’s stock.

Institutional Trading of Jackson Financial

Several hedge funds have recently added to or reduced their stakes in JXN. Integrated Wealth Concepts LLC grew its stake in shares of Jackson Financial by 33.2% in the first 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 in the last quarter. Woodline Partners LP bought a new stake in shares of Jackson Financial during the first quarter valued at about $4,081,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of Jackson Financial by 3.6% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 210,836 shares of the company’s stock valued at $17,664,000 after purchasing an additional 7,380 shares in the last quarter. EverSource Wealth Advisors LLC lifted its holdings in Jackson Financial by 55.5% in the second quarter. EverSource Wealth Advisors LLC now owns 911 shares of the company’s stock worth $81,000 after purchasing an additional 325 shares during the period. Finally, Marshall Wace LLP acquired a new stake in Jackson Financial in the second quarter worth about $986,000. Institutional investors own 89.96% of the company’s stock.

About Jackson Financial

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.