Evercore ISI Raises Jackson Financial (NYSE:JXN) Price Target to $62.00

Jackson Financial (NYSE:JXN) had its price objective boosted by analysts at Evercore ISI from $55.00 to $62.00 in a report issued on Thursday, Benzinga reports. The brokerage currently has an “in-line” rating on the stock. Evercore ISI’s price objective would indicate a potential downside of 2.19% from the company’s current price.

Several other equities analysts also recently commented on JXN. Jefferies Financial Group reissued a “hold” rating and issued a $55.00 target price on shares of Jackson Financial in a report on Tuesday, January 2nd. Morgan Stanley upped their price target on shares of Jackson Financial from $49.00 to $52.00 and gave the company an “equal weight” rating in a research note on Friday, March 1st. Keefe, Bruyette & Woods upped their price target on shares of Jackson Financial from $68.00 to $75.00 and gave the company an “outperform” rating in a research note on Wednesday. Finally, The Goldman Sachs Group upped their price target on shares of Jackson Financial from $39.00 to $47.00 and gave the company a “neutral” rating in a research note on Tuesday, January 9th. Four analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $58.20.

Jackson Financial Price Performance

JXN stock opened at $63.39 on Thursday. Jackson Financial has a one year low of $26.70 and a one year high of $68.97. The company’s fifty day moving average price is $58.82 and its 200-day moving average price is $50.07. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.33 and a current ratio of 0.33. The company has a market capitalization of $4.91 billion, a PE ratio of 6.46 and a beta of 1.57.

Jackson Financial (NYSE:JXN) last released its earnings results on Wednesday, February 21st. The company reported $2.53 EPS for the quarter, missing the consensus estimate of $3.53 by ($1.00). The firm had revenue of $1.93 billion for the quarter, compared to analysts’ expectations of $1.40 billion. During the same quarter in the previous year, the business earned $5.66 earnings per share. The business’s quarterly revenue was up 3.3% on a year-over-year basis. On average, equities analysts anticipate that Jackson Financial will post 15.59 EPS for the current fiscal year.

Insider Activity

In other news, Director Derek G. Kirkland bought 3,500 shares of Jackson Financial stock in a transaction dated Monday, March 4th. The shares were acquired at an average price of $55.67 per share, with a total value of $194,845.00. Following the completion of the purchase, the director now owns 37,726 shares in the company, valued at approximately $2,100,206.42. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 1.70% of the company’s stock.

Institutional Investors Weigh In On Jackson Financial

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Hsbc Holdings PLC grew its holdings in shares of Jackson Financial by 45,699.9% in the third quarter. Hsbc Holdings PLC now owns 3,241,261 shares of the company’s stock worth $124,043,000 after purchasing an additional 3,234,184 shares during the last quarter. EJF Capital LLC grew its holdings in shares of Jackson Financial by 2,218.3% in the first quarter. EJF Capital LLC now owns 1,759,620 shares of the company’s stock worth $77,828,000 after purchasing an additional 1,683,720 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of Jackson Financial by 16.1% in the third quarter. Vanguard Group Inc. now owns 10,933,228 shares of the company’s stock worth $417,868,000 after purchasing an additional 1,518,547 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of Jackson Financial by 38.2% in the second quarter. Price T Rowe Associates Inc. MD now owns 3,939,256 shares of the company’s stock worth $105,375,000 after purchasing an additional 1,088,980 shares during the last quarter. Finally, State Street Corp grew its holdings in shares of Jackson Financial by 88.6% in the second quarter. State Street Corp now owns 2,238,285 shares of the company’s stock worth $59,874,000 after purchasing an additional 1,051,563 shares during the last quarter. Hedge funds and other institutional investors 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.