Jackson Financial (NYSE:JXN) Sets New 12-Month High – Still a Buy?

Jackson Financial Inc. (NYSE:JXN)’s share price reached a new 52-week high on Wednesday . The stock traded as high as $138.25 and last traded at $137.7560, with a volume of 49881 shares trading hands. The stock had previously closed at $132.78.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on JXN shares. Jefferies Financial Group raised shares of Jackson Financial from a “hold” rating to a “buy” rating and lifted their target price for the company from $120.00 to $140.00 in a research note on Friday, July 10th. Barclays increased their price objective on Jackson Financial from $139.00 to $149.00 and gave the stock an “overweight” rating in a report on Tuesday, August 4th. Evercore set a $135.00 price objective on Jackson Financial in a research report on Wednesday, August 5th. Keefe, Bruyette & Woods boosted their target price on Jackson Financial from $130.00 to $140.00 and gave the company a “market perform” rating in a research note on Wednesday, August 5th. Finally, Wall Street Zen raised Jackson Financial from a “hold” rating to a “buy” rating in a research report on Saturday, August 8th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $133.80.

Jackson Financial Price Performance

The company has a debt-to-equity ratio of 0.53, a current ratio of 0.26 and a quick ratio of 0.26. The stock has a market capitalization of $9.46 billion, a price-to-earnings ratio of 196.76 and a beta of 1.30. The stock’s 50 day simple moving average is $124.02 and its 200-day simple moving average is $113.88.

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

Jackson Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 24th. Investors of record on Tuesday, September 15th will be issued a $0.90 dividend. The ex-dividend date is Tuesday, September 15th. This represents a $3.60 dividend on an annualized basis and a yield of 2.6%. Jackson Financial’s dividend payout ratio is currently 507.04%.

Insider Buying and Selling at Jackson Financial

In other Jackson Financial news, CEO Christopher Raub sold 5,000 shares of the firm’s stock in a transaction dated Wednesday, August 12th. The stock was sold at an average price of $130.69, for a total transaction of $653,450.00. Following the transaction, the chief executive officer directly owned 42,160 shares in the company, valued at $5,509,890.40. This trade represents a 10.60% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Carrie Chelko sold 7,500 shares of the business’s stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $134.24, for a total value of $1,006,800.00. Following the completion of the sale, the executive vice president directly owned 80,914 shares of the company’s stock, valued at $10,861,895.36. This represents a 8.48% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 1.40% of the company’s stock.

Institutional Investors Weigh In On Jackson Financial

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in Jackson Financial during the second quarter valued at approximately $3,895,000. California State Teachers Retirement System boosted its holdings in shares of Jackson Financial by 9,102.2% during the 2nd quarter. California State Teachers Retirement System now owns 7,427,063 shares of the company’s stock worth $760,457,000 after buying an additional 7,346,353 shares during the period. HB Wealth Management LLC boosted its holdings in shares of Jackson Financial by 13.8% during the 2nd quarter. HB Wealth Management LLC now owns 2,829 shares of the company’s stock worth $290,000 after buying an additional 342 shares during the period. Nilsine Partners LLC grew its stake in Jackson Financial by 9.7% in the 2nd quarter. Nilsine Partners LLC now owns 7,420 shares of the company’s stock valued at $760,000 after buying an additional 654 shares during the last quarter. Finally, Asset Allocation Strategies LLC grew its stake in Jackson Financial by 8.2% in the 2nd quarter. Asset Allocation Strategies LLC now owns 23,623 shares of the company’s stock valued at $2,419,000 after buying an additional 1,788 shares during the last quarter. 89.96% of the stock is currently owned by institutional investors and hedge funds.

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.