Morgan Stanley Increases Jackson Financial (NYSE:JXN) Price Target to $38.00

Jackson Financial (NYSE:JXN) had its target price increased by investment analysts at Morgan Stanley from $35.00 to $38.00 in a research note issued to investors on Wednesday, Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Morgan Stanley’s target price would suggest a potential downside of 15.80% from the company’s current price.

JXN has been the topic of a number of other research reports. TheStreet raised Jackson Financial from a “d+” rating to a “c-” rating in a report on Monday, August 14th. Jefferies Financial Group increased their price objective on Jackson Financial from $40.00 to $46.00 and gave the stock a “buy” rating in a report on Thursday, September 14th.

Jackson Financial Stock Down 1.4 %

Shares of NYSE JXN opened at $45.13 on Wednesday. Jackson Financial has a one year low of $26.70 and a one year high of $49.60. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.34 and a quick ratio of 0.34. The business’s fifty day moving average price is $39.19 and its 200-day moving average price is $34.55. The stock has a market capitalization of $3.70 billion, a PE ratio of 2.15 and a beta of 1.39.

Jackson Financial (NYSE:JXN) last issued its quarterly earnings results on Wednesday, November 8th. The company reported $3.80 EPS for the quarter, beating analysts’ consensus estimates of $3.57 by $0.23. The firm had revenue of $2.61 billion for the quarter, compared to analysts’ expectations of $1.62 billion. During the same period in the prior year, the company earned $4.24 EPS. On average, equities research analysts anticipate that Jackson Financial will post 13.9 EPS for the current year.

Insiders Place Their Bets

In other Jackson Financial news, CAO Don W. Cummings sold 1,555 shares of the company’s stock in a transaction dated Wednesday, October 11th. The stock was sold at an average price of $38.12, for a total value of $59,276.60. Following the transaction, the chief accounting officer now directly owns 24,300 shares in the company, valued at approximately $926,316. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Jackson Financial news, CAO Don W. Cummings sold 1,555 shares of the company’s stock in a transaction dated Wednesday, October 11th. The stock was sold at an average price of $38.12, for a total value of $59,276.60. Following the transaction, the chief accounting officer now directly owns 24,300 shares in the company, valued at approximately $926,316. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Scott Romine sold 5,000 shares of the stock in a transaction dated Monday, October 16th. The shares were sold at an average price of $39.67, for a total value of $198,350.00. Following the transaction, the chief executive officer now owns 72,435 shares in the company, valued at $2,873,496.45. The disclosure for this sale can be found here. Corporate insiders own 1.70% of the company’s stock.

Hedge Funds Weigh In On Jackson Financial

Several institutional investors have recently modified their holdings of JXN. NBC Securities Inc. purchased a new stake in Jackson Financial during the 3rd quarter valued at about $28,000. Federated Hermes Inc. boosted its holdings in Jackson Financial by 199.8% during the 3rd quarter. Federated Hermes Inc. now owns 1,382 shares of the company’s stock valued at $38,000 after acquiring an additional 921 shares during the period. Steward Partners Investment Advisory LLC boosted its holdings in Jackson Financial by 4,347.8% during the 1st quarter. Steward Partners Investment Advisory LLC now owns 1,023 shares of the company’s stock valued at $38,000 after acquiring an additional 1,000 shares during the period. PNC Financial Services Group Inc. boosted its holdings in Jackson Financial by 291.2% during the 3rd quarter. PNC Financial Services Group Inc. now owns 1,025 shares of the company’s stock valued at $39,000 after acquiring an additional 763 shares during the period. Finally, Money Concepts Capital Corp purchased a new stake in Jackson Financial during the 4th quarter valued at about $42,000. 79.20% of the stock is currently owned by institutional investors.

Jackson Financial Company Profile

Jackson Financial Inc, through its subsidiaries, primarily provides a 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.