Jackson Financial (NYSE:JXN) Sets New 1-Year High at $85.46

Jackson Financial Inc. (NYSE:JXN) shares reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $85.46 and last traded at $85.13, with a volume of 136357 shares. The stock had previously closed at $84.10.

Analyst Ratings Changes

JXN has been the subject of several analyst reports. Morgan Stanley increased their target price on Jackson Financial from $82.00 to $84.00 and gave the company an “equal weight” rating in a report on Wednesday, July 10th. Jefferies Financial Group upped their price target on Jackson Financial from $62.00 to $70.00 and gave the company a “hold” rating in a research report on Friday, June 28th. Evercore ISI lowered their price target on Jackson Financial from $75.00 to $73.00 and set an “in-line” rating for the company in a research report on Wednesday, June 26th. Finally, Keefe, Bruyette & Woods lowered Jackson Financial from an “outperform” rating to a “market perform” rating and increased their target price for the stock from $75.00 to $80.00 in a research report on Tuesday, May 14th. Five investment analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $70.80.

Jackson Financial Price Performance

The company has a current ratio of 0.32, a quick ratio of 0.32 and a debt-to-equity ratio of 0.42. The company has a market cap of $6.51 billion, a PE ratio of 2.25 and a beta of 1.51. The firm has a 50 day moving average of $76.12 and a two-hundred day moving average of $65.53.

Jackson Financial (NYSE:JXN) last posted its quarterly earnings results on Wednesday, May 8th. The company reported $4.23 earnings per share for the quarter, topping the consensus estimate of $3.67 by $0.56. The company had revenue of $2 billion during the quarter, compared to analysts’ expectations of $1.67 billion. The business’s quarterly revenue was up 5.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $3.15 EPS. Research analysts predict that Jackson Financial Inc. will post 17.33 earnings per share for the current fiscal year.

Jackson Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, June 20th. Investors of record on Thursday, June 6th were paid a $0.70 dividend. The ex-dividend date was Thursday, June 6th. This represents a $2.80 annualized dividend and a dividend yield of 3.28%. Jackson Financial’s payout ratio is currently 7.40%.

Insider Buying and Selling at Jackson Financial

In other Jackson Financial news, COO Devkumar Dilip Ganguly sold 13,000 shares of the stock in a transaction on Friday, May 10th. The stock was sold at an average price of $75.67, for a total transaction of $983,710.00. Following the sale, the chief operating officer now directly owns 93,405 shares in the company, valued at approximately $7,067,956.35. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, CFO Don W. Cummings purchased 1,445 shares of the company’s stock in a transaction dated Wednesday, June 5th. The shares were purchased at an average cost of $72.70 per share, for a total transaction of $105,051.50. Following the purchase, the chief financial officer now directly owns 45,711 shares in the company, valued at approximately $3,323,189.70. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Devkumar Dilip Ganguly sold 13,000 shares of the firm’s stock in a transaction on Friday, May 10th. The stock was sold at an average price of $75.67, for a total value of $983,710.00. Following the completion of the transaction, the chief operating officer now owns 93,405 shares in the company, valued at $7,067,956.35. The disclosure for this sale can be found here. Company insiders own 1.30% of the company’s stock.

Hedge Funds Weigh In On Jackson Financial

Institutional investors and hedge funds have recently modified their holdings of the company. Dimensional Fund Advisors LP raised its holdings in Jackson Financial by 10.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 4,175,970 shares of the company’s stock worth $213,813,000 after purchasing an additional 399,665 shares during the period. Donald Smith & CO. Inc. raised its holdings in Jackson Financial by 20.1% in the 1st quarter. Donald Smith & CO. Inc. now owns 2,376,476 shares of the company’s stock worth $157,180,000 after purchasing an additional 397,287 shares during the period. Goldman Sachs Group Inc. raised its holdings in Jackson Financial by 6.9% in the 4th quarter. Goldman Sachs Group Inc. now owns 1,738,688 shares of the company’s stock worth $89,021,000 after purchasing an additional 111,875 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in Jackson Financial by 12.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,107,993 shares of the company’s stock worth $56,729,000 after purchasing an additional 122,302 shares during the period. Finally, Jacobs Levy Equity Management Inc. raised its holdings in Jackson Financial by 6.4% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 1,106,063 shares of the company’s stock worth $73,155,000 after purchasing an additional 66,534 shares during the period. 89.96% of the stock is currently 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.