Jackson Financial (NYSE:JXN) PT Raised to $70.00

Jackson Financial (NYSE:JXN) had its target price boosted by Morgan Stanley from $52.00 to $70.00 in a research report released on Monday morning, Benzinga reports. Morgan Stanley currently has an equal weight rating on the stock.

Several other research firms have also issued reports on JXN. Evercore ISI increased their target price on Jackson Financial from $55.00 to $62.00 and gave the stock an in-line rating in a research note on Thursday, April 11th. The Goldman Sachs Group increased their price target on shares of Jackson Financial from $39.00 to $47.00 and gave the stock a neutral rating in a research report on Tuesday, January 9th. Jefferies Financial Group restated a hold rating and issued a $55.00 price objective on shares of Jackson Financial in a report on Tuesday, January 2nd. Finally, Keefe, Bruyette & Woods increased their target price on shares of Jackson Financial from $68.00 to $75.00 and gave the stock an outperform rating in a report on Wednesday, April 10th. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of Hold and an average target price of $61.80.

Jackson Financial Trading Up 1.2 %

Shares of NYSE JXN opened at $64.16 on Monday. Jackson Financial has a fifty-two week low of $26.70 and a fifty-two week high of $68.97. 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 cap of $4.97 billion, a price-to-earnings ratio of 6.54 and a beta of 1.57. The business’s 50 day moving average price is $59.11 and its 200-day moving average price is $50.43.

Jackson Financial (NYSE:JXN) last posted 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 for the quarter, compared to analysts’ expectations of $1.40 billion. During the same period in the prior year, the firm earned $5.66 earnings per share. The business’s revenue for the quarter was up 3.3% compared to the same quarter last year. On average, sell-side analysts expect that Jackson Financial will post 15.89 earnings per share for the current year.

Jackson Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 21st. Stockholders of record on Tuesday, March 12th were paid a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 4.36%. The ex-dividend date was Monday, March 11th. This is a boost 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 purchased 3,500 shares of the firm’s stock in a transaction that occurred on Monday, March 4th. The stock was bought at an average price of $55.67 per share, for a total transaction of $194,845.00. Following the completion of the purchase, the director now directly owns 37,726 shares of the company’s stock, valued at $2,100,206.42. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.70% of the company’s stock.

Hedge Funds Weigh In On Jackson Financial

Several large investors have recently bought and sold shares of the business. Vanguard Group Inc. boosted its position in shares of Jackson Financial by 16.1% during the 3rd quarter. Vanguard Group Inc. now owns 10,933,228 shares of the company’s stock worth $417,868,000 after acquiring an additional 1,518,547 shares in the last quarter. BlackRock Inc. boosted its holdings in Jackson Financial by 3.7% in the second quarter. BlackRock Inc. now owns 6,480,689 shares of the company’s stock valued at $198,374,000 after purchasing an additional 231,800 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in Jackson Financial by 10.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 4,175,970 shares of the company’s stock valued at $213,813,000 after purchasing an additional 399,665 shares during the last quarter. Price T Rowe Associates Inc. MD raised its holdings in Jackson Financial by 1.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 4,157,287 shares of the company’s stock worth $155,525,000 after purchasing an additional 52,814 shares in the last quarter. Finally, Hsbc Holdings PLC lifted its position in shares of Jackson Financial by 45,699.9% during the 3rd quarter. Hsbc Holdings PLC now owns 3,241,261 shares of the company’s stock worth $124,043,000 after buying an additional 3,234,184 shares during the last quarter. Hedge funds and other institutional investors 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.