Jackson Financial (NYSE:JXN) Reaches New 12-Month High at $71.05

Jackson Financial Inc. (NYSE:JXN)’s stock price hit a new 52-week high on Friday . The stock traded as high as $71.05 and last traded at $70.93, with a volume of 45407 shares traded. The stock had previously closed at $69.42.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on JXN. Morgan Stanley raised their target price on shares of Jackson Financial from $52.00 to $70.00 and gave the company an “equal weight” rating in a research note on Monday, April 15th. Evercore ISI raised their price objective on shares of Jackson Financial from $55.00 to $62.00 and gave the company an “in-line” rating in a research note on Thursday, April 11th. Keefe, Bruyette & Woods upped their target price on shares of Jackson Financial from $68.00 to $75.00 and gave the company an “outperform” rating in a research report on Wednesday, April 10th. Finally, The Goldman Sachs Group increased their price target on Jackson Financial from $39.00 to $47.00 and gave the company a “neutral” rating in a research note on Tuesday, January 9th. Four research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, Jackson Financial has a consensus rating of “Hold” and an average target price of $61.80.

Jackson Financial Stock Up 2.5 %

The business’s 50-day moving average is $63.70 and its two-hundred day moving average is $53.24. The firm has a market capitalization of $5.51 billion, a price-to-earnings ratio of 7.25 and a beta of 1.54. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.33 and a current ratio of 0.33.

Jackson Financial (NYSE:JXN) last posted its earnings results on Wednesday, February 21st. The company reported $2.53 earnings per share for the quarter, missing the consensus estimate of $3.53 by ($1.00). The business had revenue of $1.93 billion for the quarter, compared to the consensus estimate of $1.40 billion. The business’s revenue for the quarter was up 3.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $5.66 EPS. On average, equities analysts anticipate that Jackson Financial Inc. will post 15.95 earnings per share for the current year.

Jackson Financial Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 21st. Shareholders of record on Tuesday, March 12th were issued a dividend of $0.70 per share. The ex-dividend date was Monday, March 11th. This is a positive change from Jackson Financial’s previous quarterly dividend of $0.62. This represents a $2.80 annualized dividend and a yield of 3.93%. Jackson Financial’s payout ratio is currently 28.54%.

Insider Buying and Selling at Jackson Financial

In other Jackson Financial news, Director Derek G. Kirkland bought 3,500 shares of the stock in a transaction that occurred on Monday, March 4th. The stock was acquired at an average cost of $55.67 per share, with a total value of $194,845.00. Following the purchase, the director now owns 37,726 shares in the company, valued at $2,100,206.42. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.30% of the company’s stock.

Institutional Investors Weigh In On Jackson Financial

Several institutional investors have recently added to or reduced their stakes in the stock. Advisors Preferred LLC bought a new stake in Jackson Financial in the 4th quarter valued at approximately $1,680,000. Teachers Retirement System of The State of Kentucky bought a new stake in shares of Jackson Financial in the third quarter worth $871,000. Federated Hermes Inc. lifted its position in shares of Jackson Financial by 58.8% in the fourth quarter. Federated Hermes Inc. now owns 521,266 shares of the company’s stock worth $26,689,000 after purchasing an additional 192,995 shares in the last quarter. Vanguard Group Inc. boosted its holdings in Jackson Financial by 16.1% during 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. Finally, DekaBank Deutsche Girozentrale grew its position in Jackson Financial by 148.6% in the fourth quarter. DekaBank Deutsche Girozentrale now owns 97,616 shares of the company’s stock valued at $4,982,000 after purchasing an additional 58,350 shares in the last quarter. 89.96% of the stock is owned by institutional investors.

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.