Jackson Financial (NYSE:JXN) Price Target Raised to $84.00 at Morgan Stanley

Jackson Financial (NYSE:JXNFree Report) had its target price increased by Morgan Stanley from $82.00 to $84.00 in a report issued on Wednesday, Benzinga reports. Morgan Stanley currently has an equal weight rating on the stock.

Other equities research analysts also recently issued research reports about the company. Keefe, Bruyette & Woods downgraded Jackson Financial from an outperform rating to a market perform rating and increased their price objective for the company from $75.00 to $80.00 in a research report on Tuesday, May 14th. Evercore ISI cut their price objective on Jackson Financial from $75.00 to $73.00 and set an in-line rating for the company in a research report on Wednesday, June 26th. Finally, Jefferies Financial Group increased their price objective on Jackson Financial from $62.00 to $70.00 and gave the company a hold rating in a research report on Friday, June 28th. Five equities research analysts have rated the stock with a hold rating, According to MarketBeat.com, the company currently has an average rating of Hold and an average target price of $70.80.

Read Our Latest Research Report on JXN

Jackson Financial Stock Performance

Shares of NYSE JXN opened at $76.89 on Wednesday. The stock has a fifty day moving average price of $74.33 and a two-hundred day moving average price of $63.21. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.32 and a current ratio of 0.32. The firm has a market cap of $5.86 billion, a P/E ratio of 2.03 and a beta of 1.51. Jackson Financial has a 1 year low of $30.99 and a 1 year high of $81.52.

Jackson Financial (NYSE:JXNGet Free Report) last issued its quarterly earnings results on Wednesday, May 8th. The company reported $4.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.67 by $0.56. The firm had revenue of $2 billion for the quarter, compared to the consensus estimate of $1.67 billion. During the same period in the previous year, the business posted $3.15 earnings per share. The business’s revenue for the quarter was up 5.8% compared to the same quarter last year. Research analysts forecast that Jackson Financial will post 16.98 EPS for the current fiscal year.

Jackson Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 20th. Investors of record on Thursday, June 6th were issued a dividend of $0.70 per share. The ex-dividend date was Thursday, June 6th. This represents a $2.80 annualized dividend and a dividend yield of 3.64%. Jackson Financial’s dividend payout ratio is 7.40%.

Insider Buying and Selling

In other news, CFO Don W. Cummings acquired 1,445 shares of the business’s stock in a transaction that occurred on Wednesday, June 5th. The stock was acquired at an average cost of $72.70 per share, for a total transaction of $105,051.50. Following the completion of the acquisition, the chief financial officer now owns 45,711 shares in the company, valued at $3,323,189.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CFO Don W. Cummings acquired 1,445 shares of the business’s stock in a transaction that occurred on Wednesday, June 5th. The stock was acquired at an average cost of $72.70 per share, for a total transaction of $105,051.50. Following the completion of the acquisition, the chief financial officer now owns 45,711 shares in the company, valued at $3,323,189.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Devkumar Dilip Ganguly sold 13,000 shares of the stock in a transaction on Friday, May 10th. The stock was sold at an average price of $75.67, for a total value of $983,710.00. Following the sale, the chief operating officer now owns 93,405 shares of the company’s stock, valued at $7,067,956.35. The disclosure for this sale can be found here. 1.30% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Jackson Financial

Several hedge funds have recently bought and sold shares of the business. GAMMA Investing LLC increased its position in Jackson Financial by 47.0% during the first quarter. GAMMA Investing LLC now owns 482 shares of the company’s stock worth $32,000 after buying an additional 154 shares during the last quarter. Hexagon Capital Partners LLC grew its position in shares of Jackson Financial by 18.1% in the first quarter. Hexagon Capital Partners LLC now owns 1,532 shares of the company’s stock valued at $101,000 after purchasing an additional 235 shares during the last quarter. Asset Allocation Strategies LLC increased its stake in shares of Jackson Financial by 1.4% in the fourth quarter. Asset Allocation Strategies LLC now owns 17,310 shares of the company’s stock worth $886,000 after purchasing an additional 242 shares during the period. Nomura Asset Management Co. Ltd. increased its stake in shares of Jackson Financial by 18.0% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 1,640 shares of the company’s stock worth $84,000 after purchasing an additional 250 shares during the period. Finally, Private Trust Co. NA increased its stake in shares of Jackson Financial by 10.2% in the fourth quarter. Private Trust Co. NA now owns 3,156 shares of the company’s stock worth $162,000 after purchasing an additional 292 shares during the period. 89.96% of the stock is owned by institutional investors and hedge funds.

About Jackson Financial

(Get Free Report)

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.

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Analyst Recommendations for Jackson Financial (NYSE:JXN)

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