Jackson Financial’s (JXN) Market Perform Rating Reaffirmed at Keefe, Bruyette & Woods

Keefe, Bruyette & Woods reiterated their market perform rating on shares of Jackson Financial (NYSE:JXN) in a report released on Thursday,Benzinga reports. The firm currently has a $123.00 price objective on the stock.

Several other equities research analysts also recently issued reports on the stock. Morgan Stanley set a $105.00 target price on shares of Jackson Financial in a research note on Monday, December 15th. Evercore set a $118.00 target price on shares of Jackson Financial and gave the company an “in-line” rating in a research report on Tuesday, January 6th. Wall Street Zen raised Jackson Financial from a “hold” rating to a “buy” rating in a research report on Saturday, February 28th. Barclays reissued an “overweight” rating and issued a $137.00 target price on shares of Jackson Financial in a report on Thursday, January 8th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Jackson Financial in a research note on Monday, December 29th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $115.60.

Jackson Financial Stock Performance

Shares of JXN opened at $105.90 on Thursday. The firm has a market cap of $7.48 billion, a P/E ratio of -302.56 and a beta of 1.46. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.27 and a current ratio of 0.27. Jackson Financial has a twelve month low of $64.70 and a twelve month high of $123.61. The firm’s 50 day moving average price is $112.04 and its two-hundred day moving average price is $104.89.

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

Jackson Financial Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 26th. Shareholders of record on Monday, March 16th were given a dividend of $0.90 per share. The ex-dividend date of this dividend was Monday, March 16th. This represents a $3.60 dividend on an annualized basis and a yield of 3.4%. This is a boost from Jackson Financial’s previous quarterly dividend of $0.80. Jackson Financial’s payout ratio is currently -1,028.57%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Sound Income Strategies LLC raised its stake in Jackson Financial by 25.5% during the fourth quarter. Sound Income Strategies LLC now owns 483 shares of the company’s stock worth $55,000 after buying an additional 98 shares during the last quarter. Wetzel Investment Advisors Inc. boosted its position in Jackson Financial by 4.5% during the fourth quarter. Wetzel Investment Advisors Inc. now owns 2,300 shares of the company’s stock valued at $245,000 after acquiring an additional 100 shares during the last quarter. Seeds Investor LLC grew its holdings in Jackson Financial by 4.5% during the 4th quarter. Seeds Investor LLC now owns 2,373 shares of the company’s stock worth $253,000 after acquiring an additional 102 shares during the period. Samalin Investment Counsel LLC grew its holdings in Jackson Financial by 2.0% during the 3rd quarter. Samalin Investment Counsel LLC now owns 5,370 shares of the company’s stock worth $544,000 after acquiring an additional 104 shares during the period. Finally, Triumph Capital Management raised its position in shares of Jackson Financial by 2.7% in the 4th quarter. Triumph Capital Management now owns 4,110 shares of the company’s stock worth $438,000 after acquiring an additional 107 shares in the last quarter. Institutional investors and hedge funds own 89.96% of the company’s stock.

Jackson Financial Company Profile

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.