Jackson Financial (NYSE:JXN) Cut to “Underperform” at Evercore ISI

Evercore ISI cut shares of Jackson Financial (NYSE:JXN) from an in-line rating to an underperform rating in a report released on Thursday, MarketBeat Ratings reports. The firm currently has $95.00 price objective on the stock, up from their prior price objective of $74.00.

Several other equities research analysts have also recently weighed in on the stock. Keefe, Bruyette & Woods increased 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 report on Wednesday, August 14th. Barclays increased their price target on Jackson Financial from $109.00 to $111.00 and gave the stock an “overweight” rating in a report on Tuesday, October 8th. Morgan Stanley boosted their price objective on Jackson Financial from $86.00 to $89.00 and gave the company an “equal weight” rating in a research note on Monday, August 19th. Finally, Jefferies Financial Group raised their target price on Jackson Financial from $73.00 to $80.00 and gave the stock a “hold” rating in a research note on Monday, July 29th. One analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, Jackson Financial presently has an average rating of “Hold” and an average target price of $84.00.

Jackson Financial Trading Up 0.1 %

NYSE JXN opened at $100.63 on Thursday. The business’s 50-day moving average price is $96.14 and its two-hundred day moving average price is $84.56. 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 12 month low of $44.40 and a 12 month high of $115.22.

Jackson Financial (NYSE:JXN) last announced its earnings results on Wednesday, November 6th. The company reported $4.60 EPS for the quarter, missing the consensus estimate of $4.67 by ($0.07). The company had revenue of $2.12 billion during the quarter, compared to analyst estimates of $1.73 billion. During the same quarter in the previous year, the firm earned $3.80 EPS. Sell-side analysts expect that Jackson Financial will post 18.8 earnings per share for the current year.

Jackson Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Thursday, December 5th will be paid a $0.70 dividend. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $2.80 annualized dividend and a dividend yield of 2.78%. Jackson Financial’s dividend payout ratio is presently -22.15%.

Jackson Financial declared that its board has authorized a share repurchase program on Wednesday, August 7th that permits the company to buyback $750.00 million in outstanding shares. This buyback authorization permits the company to repurchase up to 10.8% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s board believes its shares are undervalued.

Insiders Place Their Bets

In other news, EVP Carrie Chelko sold 5,500 shares of the company’s stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $91.31, for a total transaction of $502,205.00. Following the transaction, the executive vice president now directly owns 61,829 shares of the company’s stock, valued at $5,645,605.99. This represents a 8.17 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 1.30% of the company’s stock.

Institutional Trading of Jackson Financial

Hedge funds have recently bought and sold shares of the business. Dimensional Fund Advisors LP lifted its stake in shares of Jackson Financial by 3.8% in the second quarter. Dimensional Fund Advisors LP now owns 4,471,335 shares of the company’s stock valued at $332,035,000 after buying an additional 163,598 shares in the last quarter. State Street Corp raised its holdings in shares of Jackson Financial by 4.9% in the 3rd quarter. State Street Corp now owns 3,266,981 shares of the company’s stock worth $298,047,000 after acquiring an additional 153,326 shares during the last quarter. Donald Smith & CO. Inc. raised its holdings in shares of 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 acquiring an additional 397,287 shares during the last quarter. Geode Capital Management LLC lifted its position in Jackson Financial by 7.4% in the 3rd quarter. Geode Capital Management LLC now owns 2,086,155 shares of the company’s stock valued at $194,187,000 after acquiring an additional 144,530 shares in the last quarter. Finally, American Century Companies Inc. boosted its stake in Jackson Financial by 6.5% during the 2nd quarter. American Century Companies Inc. now owns 1,623,071 shares of the company’s stock valued at $120,529,000 after purchasing an additional 98,792 shares during the last quarter. Institutional investors and hedge funds own 89.96% of the company’s stock.

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.