Jackson Financial (NYSE:JXN) PT Raised to $111.00

Jackson Financial (NYSE:JXN) had its target price lifted by Barclays from $109.00 to $111.00 in a research note published on Tuesday morning, Benzinga reports. Barclays currently has an overweight rating on the stock.

Several other research analysts have also issued reports on JXN. Jefferies Financial Group raised their target price on shares of Jackson Financial from $73.00 to $80.00 and gave the company a hold rating in a research note on Monday, July 29th. Morgan Stanley raised their target price on shares of Jackson Financial from $86.00 to $89.00 and gave the company an equal weight rating in a research note on Monday, August 19th. Keefe, Bruyette & Woods lifted their price objective on shares of Jackson Financial from $80.00 to $82.00 and gave the stock a market perform rating in a research note on Wednesday, August 14th. Finally, Evercore ISI reduced their price objective on shares of Jackson Financial from $75.00 to $73.00 and set an in-line rating on the stock in a research note on Wednesday, June 26th. Five investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, Jackson Financial has an average rating of Hold and a consensus price target of $80.33.

Jackson Financial Stock Performance

Jackson Financial stock opened at $99.02 on Tuesday. The company has a market cap of $7.45 billion, a PE ratio of 3.66 and a beta of 1.50. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.42. Jackson Financial has a 1 year low of $36.06 and a 1 year high of $100.28. The company’s 50-day moving average is $86.51 and its two-hundred day moving average is $78.08.

Jackson Financial (NYSE:JXN) last issued its earnings results on Wednesday, August 7th. The company reported $5.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.32 by $1.00. The business had revenue of $2.01 billion during the quarter, compared to the consensus estimate of $1.71 billion. The firm’s revenue for the quarter was up 5.0% compared to the same quarter last year. During the same period last year, the business posted $3.34 EPS. Equities analysts anticipate that Jackson Financial will post 18.59 earnings per share for the current year.

Jackson Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 19th. Investors of record on Thursday, September 5th were paid a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 2.83%. The ex-dividend date was Thursday, September 5th. Jackson Financial’s payout ratio is 10.34%.

Jackson Financial announced that its Board of Directors has approved a stock repurchase program on Wednesday, August 7th that authorizes the company to buyback $750.00 million in outstanding shares. This buyback authorization authorizes the company to repurchase up to 10.8% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board believes its stock is undervalued.

Insiders Place Their Bets

In other Jackson Financial news, EVP Carrie Chelko sold 5,500 shares of the firm’s stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $91.31, for a total transaction of $502,205.00. Following the sale, the executive vice president now directly owns 61,829 shares in the company, valued at approximately $5,645,605.99. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 1.30% of the company’s stock.

Institutional Trading of Jackson Financial

Several hedge funds have recently bought and sold shares of JXN. CIBC Asset Management Inc acquired a new stake in shares of Jackson Financial in the fourth quarter valued at approximately $398,000. Goldman Sachs Group Inc. raised its holdings in shares of Jackson Financial by 6.9% in the fourth quarter. Goldman Sachs Group Inc. now owns 1,738,688 shares of the company’s stock valued at $89,021,000 after purchasing an additional 111,875 shares during the last quarter. Caxton Associates LP raised its holdings in shares of Jackson Financial by 22.7% in the fourth quarter. Caxton Associates LP now owns 89,920 shares of the company’s stock valued at $4,604,000 after purchasing an additional 16,630 shares during the last quarter. Clear Street Markets LLC raised its holdings in shares of Jackson Financial by 502.7% in the fourth quarter. Clear Street Markets LLC now owns 22,300 shares of the company’s stock valued at $1,142,000 after purchasing an additional 18,600 shares during the last quarter. Finally, Oracle Alpha Inc. acquired a new stake in shares of Jackson Financial in the fourth quarter valued at approximately $469,000. 89.96% of the stock is currently owned by institutional investors and hedge funds.

About Jackson Financial

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.