Jackson Financial (NYSE:JXN) Price Target Raised to $106.00 at Morgan Stanley

Jackson Financial (NYSE:JXN) had its price target boosted by Morgan Stanley from $97.00 to $106.00 in a research report released on Tuesday, MarketBeat.com reports. Morgan Stanley currently has an equal weight rating on the stock.

Other analysts have also recently issued reports about the company. Zacks Research cut Jackson Financial from a “strong-buy” rating to a “hold” rating in a research report on Friday, September 12th. Weiss Ratings reissued a “hold (c-)” rating on shares of Jackson Financial in a report on Saturday, September 27th. Jefferies Financial Group raised their price target on Jackson Financial from $88.00 to $95.00 and gave the company a “hold” rating in a report on Monday, August 11th. Keefe, Bruyette & Woods raised their price target on Jackson Financial from $102.00 to $105.00 and gave the company a “market perform” rating in a report on Monday, August 11th. Finally, Barclays raised their price target on Jackson Financial from $108.00 to $114.00 and gave the company an “overweight” rating in a report on Monday, July 7th. One equities research analyst has rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Jackson Financial currently has a consensus rating of “Hold” and an average target price of $103.00.

Jackson Financial Stock Down 1.2%

Jackson Financial stock opened at $100.43 on Tuesday. Jackson Financial has a twelve month low of $64.70 and a twelve month high of $115.22. The stock has a 50 day moving average of $96.57 and a two-hundred day moving average of $87.51. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 0.46. The stock has a market capitalization of $6.99 billion, a price-to-earnings ratio of -1,673.49 and a beta of 1.45.

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

Jackson Financial declared that its board has authorized a stock repurchase plan on Thursday, September 18th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the company to purchase up to 14.4% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

Jackson Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 25th. Investors of record on Monday, September 15th were paid a $0.80 dividend. This represents a $3.20 annualized dividend and a yield of 3.2%. The ex-dividend date of this dividend was Monday, September 15th. Jackson Financial’s dividend payout ratio (DPR) is presently -5,333.33%.

Hedge Funds Weigh In On Jackson Financial

Several hedge funds have recently bought and sold shares of JXN. Norges Bank purchased a new position in Jackson Financial in the 2nd quarter valued at approximately $102,131,000. Assenagon Asset Management S.A. increased its stake in Jackson Financial by 385.3% in the 1st quarter. Assenagon Asset Management S.A. now owns 874,771 shares of the company’s stock valued at $73,288,000 after purchasing an additional 694,518 shares in the last quarter. Nuveen LLC purchased a new position in Jackson Financial in the 1st quarter valued at approximately $43,830,000. Millennium Management LLC increased its stake in Jackson Financial by 296.7% in the 1st quarter. Millennium Management LLC now owns 658,468 shares of the company’s stock valued at $55,166,000 after purchasing an additional 492,492 shares in the last quarter. Finally, LSV Asset Management increased its stake in Jackson Financial by 28.3% in the 2nd quarter. LSV Asset Management now owns 836,238 shares of the company’s stock valued at $74,250,000 after purchasing an additional 184,440 shares in the last quarter. 89.96% of the stock is owned by hedge funds and other 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.