Jackson Financial (NYSE:JXN) Cut to “Hold” at Wall Street Zen

Wall Street Zen lowered shares of Jackson Financial (NYSE:JXN) from a buy rating to a hold rating in a report issued on Saturday,Wall Street Zen reports.

Several other brokerages also recently weighed in on JXN. Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $140.00 price target on shares of Jackson Financial in a report on Friday, September 18th. Jefferies Financial Group upgraded Jackson Financial from a “hold” rating to a “buy” rating and raised their price objective for the stock from $120.00 to $140.00 in a report on Friday, July 10th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Jackson Financial in a research report on Monday, November 2nd. Evercore set a $135.00 price objective on Jackson Financial in a research report on Wednesday, August 5th. Finally, Barclays upped their target price on Jackson Financial from $151.00 to $154.00 and gave the company an “overweight” rating in a research note on Wednesday, November 4th. Two equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $134.80.

Jackson Financial Stock Performance

NYSE:JXN opened at $135.72 on Friday. The firm has a 50 day simple moving average of $133.49 and a 200-day simple moving average of $118.74. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.22 and a quick ratio of 0.26. The firm has a market cap of $9.19 billion, a PE ratio of 11.16 and a beta of 1.34. Jackson Financial has a 1-year low of $89.67 and a 1-year high of $150.00.

Jackson Financial (NYSE:JXN) last announced its quarterly earnings data on Tuesday, November 3rd. The company reported $7.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $7.24 by $0.31. Jackson Financial had a net margin of 13.41% and a return on equity of 20.46%. The business had revenue of $2.07 billion for the quarter, compared to the consensus estimate of $2.07 billion.

Jackson Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 17th. Investors of record on Thursday, December 3rd will be given a $0.90 dividend. The ex-dividend date of this dividend is Thursday, December 3rd. This represents a $3.60 annualized dividend and a dividend yield of 2.7%. Jackson Financial’s dividend payout ratio (DPR) is currently 29.61%.

Insider Transactions at Jackson Financial

In related news, CEO Christopher Raub sold 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 12th. The shares were sold at an average price of $130.69, for a total transaction of $653,450.00. Following the completion of the transaction, the chief executive officer owned 42,160 shares of the company’s stock, valued at approximately $5,509,890.40. This represents a 10.60% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 1.40% of the company’s stock.

Hedge Funds Weigh In On Jackson Financial

A number of hedge funds have recently made changes to their positions in the stock. Donald Smith & CO. Inc. acquired a new stake in shares of Jackson Financial during the 2nd quarter worth $183,186,000. Bank of New York Mellon Corp acquired a new position in Jackson Financial in the second quarter valued at $66,639,000. Bessemer Group Inc. boosted its holdings in Jackson Financial by 255.4% in the third quarter. Bessemer Group Inc. now owns 344,747 shares of the company’s stock valued at $44,581,000 after acquiring an additional 247,737 shares during the last quarter. Janus Henderson Group PLC grew its position in Jackson Financial by 31.6% during the first quarter. Janus Henderson Group PLC now owns 484,713 shares of the company’s stock valued at $51,290,000 after acquiring an additional 116,436 shares during the period. Finally, Renaissance Technologies LLC purchased a new stake in Jackson Financial during the first quarter valued at about $10,836,000. Institutional investors and hedge funds own 89.96% of the company’s stock.

Jackson Financial Company Profile

Jackson Financial Inc is a U.S. financial services company focused on retirement planning. Through its subsidiaries, including Jackson National Life Insurance Company, it offers annuity products designed to help individuals build and manage retirement income. Its offerings include variable, fixed, fixed-indexed and registered index-linked annuities.

The company serves individuals and financial professionals across the United States, distributing its products through a network of independent financial advisers and other financial services firms.