Jackson Financial (NYSE:JXN) Price Target Raised to $97.00 at Morgan Stanley

Jackson Financial (NYSE:JXN) had its target price increased by Morgan Stanley from $92.00 to $97.00 in a research note released on Monday,Benzinga reports. Morgan Stanley currently has an equal weight rating on the stock.

Several other research firms also recently commented on JXN. Barclays raised their price objective on Jackson Financial from $108.00 to $114.00 and gave the stock an “overweight” rating in a report on Monday, July 7th. Jefferies Financial Group upped their target price on Jackson Financial from $88.00 to $95.00 and gave the company a “hold” rating in a research report on Monday, August 11th. Finally, Keefe, Bruyette & Woods upped their target price on Jackson Financial from $102.00 to $105.00 and gave the company a “market perform” rating in a research report on Monday, August 11th. One analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $101.20.

Jackson Financial Price Performance

Shares of JXN stock opened at $93.95 on Monday. Jackson Financial has a 52-week low of $64.70 and a 52-week high of $115.22. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.28 and a current ratio of 0.28. The firm has a market capitalization of $6.54 billion, a P/E ratio of -1,565.51 and a beta of 1.46. The stock has a 50 day moving average price of $87.91 and a 200 day moving average price of $84.69.

Jackson Financial (NYSE:JXN) last released its quarterly earnings data on Tuesday, August 5th. The company reported $4.87 EPS for the quarter, topping the consensus estimate of $4.61 by $0.26. The company had revenue of ($471.00) million for the quarter, compared to the consensus estimate of $1.77 billion. Jackson Financial had a return on equity of 14.73% and a net margin of 1.73%. Jackson Financial’s quarterly revenue was down 3.3% on a year-over-year basis. During the same period last year, the business posted $5.32 EPS. As a group, sell-side analysts predict that Jackson Financial will post 20.55 earnings per share for the current year.

Jackson Financial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 25th. Stockholders of record on Monday, September 15th will be paid a $0.80 dividend. The ex-dividend date is Monday, September 15th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 3.4%. Jackson Financial’s dividend payout ratio is presently -5,333.33%.

Institutional Trading of Jackson Financial

A number of hedge funds have recently modified their holdings of JXN. Norges Bank purchased a new position in Jackson Financial during the second quarter worth approximately $102,131,000. Assenagon Asset Management S.A. boosted its position in Jackson Financial by 385.3% during the first quarter. Assenagon Asset Management S.A. now owns 874,771 shares of the company’s stock worth $73,288,000 after purchasing an additional 694,518 shares in the last quarter. Nuveen LLC purchased a new position in Jackson Financial during the first quarter worth approximately $43,830,000. Millennium Management LLC boosted its position in Jackson Financial by 296.7% during the first quarter. Millennium Management LLC now owns 658,468 shares of the company’s stock worth $55,166,000 after purchasing an additional 492,492 shares in the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec lifted its position in shares of Jackson Financial by 286.5% in the fourth quarter. Caisse DE Depot ET Placement DU Quebec now owns 566,916 shares of the company’s stock valued at $49,367,000 after acquiring an additional 420,245 shares in 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.