Jackson Financial (NYSE:JXN) Upgraded to Buy at Wall Street Zen

Jackson Financial (NYSE:JXN) was upgraded by research analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research note issued to investors on Saturday.

Several other analysts have also recently issued reports on the company. Evercore set a $118.00 target price on Jackson Financial and gave the company an “in-line” rating in a report on Tuesday, January 6th. Weiss Ratings reissued a “hold (c+)” rating on shares of Jackson Financial in a research report on Monday, December 29th. Barclays restated an “overweight” rating and set a $137.00 price objective on shares of Jackson Financial in a research report on Thursday, January 8th. Finally, Morgan Stanley set a $105.00 price objective on Jackson Financial in a report on Monday, December 15th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, Jackson Financial presently has a consensus rating of “Hold” and an average price target of $113.00.

Jackson Financial Stock Down 6.5%

JXN stock opened at $109.26 on Friday. The company has a current ratio of 0.27, a quick ratio of 0.27 and a debt-to-equity ratio of 0.47. The firm has a 50-day moving average of $113.46 and a two-hundred day moving average of $103.53. Jackson Financial has a 12 month low of $64.70 and a 12 month high of $123.61. The company has a market cap of $7.43 billion, a price-to-earnings ratio of -312.15 and a beta of 1.45.

Jackson Financial (NYSE:JXN) last issued its earnings results on Wednesday, February 18th. The company reported $6.61 earnings per share for the quarter, topping the consensus estimate of $5.90 by $0.71. The company had revenue of $1.94 billion for the quarter, compared to analyst estimates of $1.92 billion. During the same quarter in the prior year, the firm earned $4.65 earnings per share. The company’s revenue for the quarter was down 2.8% on a year-over-year basis. As a group, analysts forecast that Jackson Financial will post 20.55 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Jackson Financial

Several large investors have recently added to or reduced their stakes in the business. Jackson Creek Investment Advisors LLC acquired a new position in Jackson Financial during the 3rd quarter worth $2,009,000. Acadian Asset Management LLC boosted its stake in shares of Jackson Financial by 1.5% in the 2nd quarter. Acadian Asset Management LLC now owns 1,359,477 shares of the company’s stock valued at $120,685,000 after buying an additional 20,212 shares during the period. Donald Smith & CO. Inc. boosted its stake in shares of Jackson Financial by 2.0% in the 2nd quarter. Donald Smith & CO. Inc. now owns 1,699,087 shares of the company’s stock valued at $150,862,000 after buying an additional 33,040 shares during the period. JPMorgan Chase & Co. grew its position in shares of Jackson Financial by 27.5% during the second quarter. JPMorgan Chase & Co. now owns 662,569 shares of the company’s stock worth $58,830,000 after buying an additional 143,091 shares in the last quarter. Finally, Federated Hermes Inc. increased its stake in shares of Jackson Financial by 6.4% during the third quarter. Federated Hermes Inc. now owns 854,435 shares of the company’s stock worth $86,494,000 after buying an additional 51,494 shares during the period. 89.96% of the stock is owned by hedge funds and other institutional investors.

About Jackson Financial

Jackson Financial Inc is a U.S.-based financial services holding company headquartered in Lansing, Michigan. The company operates primarily through its principal subsidiary, Jackson National Life Insurance Company, and specializes in designing and distributing retirement products. Jackson Financial has been publicly traded on the New York Stock Exchange under the ticker JXN since its initial public offering in May 2022.

The company’s core offerings include a broad range of fixed, variable and indexed annuity products aimed at helping individuals preserve and grow retirement assets.