Brokerages Set Jackson Financial Inc. (NYSE:JXN) Price Target at $58.20

Shares of Jackson Financial Inc. (NYSE:JXN) have been assigned a consensus recommendation of “Hold” from the five ratings firms that are currently covering the firm, MarketBeat.com reports. Four equities research analysts have rated the stock with a hold recommendation and one has issued a buy recommendation on the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $58.20.

Several brokerages have weighed in on JXN. Keefe, Bruyette & Woods raised their price target on Jackson Financial from $68.00 to $75.00 and gave the stock an “outperform” rating in a report on Wednesday. Jefferies Financial Group reaffirmed a “hold” rating and issued a $55.00 price target on shares of Jackson Financial in a report on Tuesday, January 2nd. Evercore ISI upped their target price on Jackson Financial from $55.00 to $62.00 and gave the company an “in-line” rating in a research report on Thursday. Morgan Stanley boosted their price target on Jackson Financial from $49.00 to $52.00 and gave the company an “equal weight” rating in a research note on Friday, March 1st. Finally, The Goldman Sachs Group lifted their price objective on Jackson Financial from $39.00 to $47.00 and gave the company a “neutral” rating in a research note on Tuesday, January 9th.

Jackson Financial Trading Down 3.0 %

NYSE JXN opened at $63.38 on Thursday. 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’s 50-day simple moving average is $58.82 and its two-hundred day simple moving average is $50.16. Jackson Financial has a one year low of $26.70 and a one year high of $68.97. The company has a market capitalization of $4.91 billion, a price-to-earnings ratio of 6.46 and a beta of 1.57.

Jackson Financial (NYSE:JXN) last issued its quarterly earnings data on Wednesday, February 21st. The company reported $2.53 earnings per share for the quarter, missing analysts’ consensus estimates of $3.53 by ($1.00). The company had revenue of $1.93 billion during the quarter, compared to analysts’ expectations of $1.40 billion. Jackson Financial’s revenue was up 3.3% compared to the same quarter last year. During the same period in the prior year, the business earned $5.66 EPS. Equities analysts forecast that Jackson Financial will post 15.89 EPS for the current fiscal year.

Jackson Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 21st. Shareholders of record on Tuesday, March 12th were issued a $0.70 dividend. The ex-dividend date was Monday, March 11th. This represents a $2.80 dividend on an annualized basis and a yield of 4.42%. This is a positive change from Jackson Financial’s previous quarterly dividend of $0.62. Jackson Financial’s dividend payout ratio (DPR) is presently 28.54%.

Insider Buying and Selling

In other news, Director Derek G. Kirkland acquired 3,500 shares of the business’s stock in a transaction that occurred on Monday, March 4th. The stock was purchased at an average cost of $55.67 per share, for a total transaction of $194,845.00. Following the completion of the transaction, the director now owns 37,726 shares in the company, valued at $2,100,206.42. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.70% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Jackson Financial

Large investors have recently modified their holdings of the business. NBC Securities Inc. acquired a new position in shares of Jackson Financial in the 3rd quarter worth approximately $28,000. GAMMA Investing LLC raised its stake in Jackson Financial by 47.0% during the 1st quarter. GAMMA Investing LLC now owns 482 shares of the company’s stock worth $32,000 after acquiring an additional 154 shares in the last quarter. Daiwa Securities Group Inc. acquired a new position in Jackson Financial in the fourth quarter valued at $36,000. Headlands Technologies LLC acquired a new stake in shares of Jackson Financial during the fourth quarter worth about $38,000. Finally, Federated Hermes Inc. lifted its holdings in shares of Jackson Financial by 199.8% in the 3rd quarter. Federated Hermes Inc. now owns 1,382 shares of the company’s stock valued at $38,000 after purchasing an additional 921 shares during the last quarter. Institutional investors and hedge funds own 89.96% of the company’s stock.

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.