Jackson Financial Inc. (NYSE:JXN) Receives $62.80 Average Price Target from Brokerages

Shares of Jackson Financial Inc. (NYSE:JXN) have been assigned a consensus recommendation of “Hold” from the five analysts that are covering the company, MarketBeat reports. Five investment analysts have rated the stock with a hold recommendation. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $68.00.

A number of brokerages have recently issued reports on JXN. Jefferies Financial Group boosted their price objective on Jackson Financial from $62.00 to $70.00 and gave the stock a “hold” rating in a report on Friday. Morgan Stanley boosted their price objective on Jackson Financial from $52.00 to $70.00 and gave the stock an “equal weight” rating in a report on Monday, April 15th. Evercore ISI reduced their price objective on Jackson Financial from $75.00 to $73.00 and set an “in-line” rating for the company in a report on Wednesday, June 26th. Finally, Keefe, Bruyette & Woods cut Jackson Financial from an “outperform” rating to a “market perform” rating and boosted their price target for the company from $75.00 to $80.00 in a research note on Tuesday, May 14th.

Jackson Financial Price Performance

Shares of NYSE JXN opened at $74.95 on Tuesday. The business’s 50 day moving average price is $73.59 and its two-hundred day moving average price is $62.14. The company has a market cap of $5.72 billion, a PE ratio of 1.98 and a beta of 1.51. The company has a quick ratio of 0.32, a current ratio of 0.32 and a debt-to-equity ratio of 0.42. Jackson Financial has a twelve month low of $29.28 and a twelve month high of $81.52.

Jackson Financial (NYSE:JXN) last announced its quarterly earnings results on Wednesday, May 8th. The company reported $4.23 earnings per share for the quarter, topping analysts’ consensus estimates of $3.67 by $0.56. The business had revenue of $2 billion for the quarter, compared to analyst estimates of $1.67 billion. During the same period last year, the firm earned $3.15 EPS. Jackson Financial’s quarterly revenue was up 5.8% compared to the same quarter last year. On average, analysts predict that Jackson Financial will post 16.98 EPS for the current year.

Jackson Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 20th. Shareholders of record on Thursday, June 6th were given a dividend of $0.70 per share. The ex-dividend date was Thursday, June 6th. This represents a $2.80 annualized dividend and a yield of 3.74%. Jackson Financial’s dividend payout ratio is currently 7.40%.

Insider Buying and Selling at Jackson Financial

In other news, CFO Don W. Cummings acquired 1,445 shares of the stock in a transaction 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 transaction, the chief financial officer now directly owns 45,711 shares in the company, valued at $3,323,189.70. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, CFO Don W. Cummings purchased 1,445 shares of the stock in a transaction dated Wednesday, June 5th. The stock was bought 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 of the company’s stock, valued at $3,323,189.70. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, COO Devkumar Dilip Ganguly sold 13,000 shares of the company’s stock in a transaction on Friday, May 10th. The stock was sold at an average price of $75.67, for a total transaction of $983,710.00. Following the transaction, 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. Company insiders own 1.30% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. EverSource Wealth Advisors LLC increased its holdings in Jackson Financial by 400.0% in the first quarter. EverSource Wealth Advisors LLC now owns 395 shares of the company’s stock valued at $27,000 after purchasing an additional 316 shares during the period. GAMMA Investing LLC increased its holdings in Jackson Financial by 47.0% in the first quarter. GAMMA Investing LLC now owns 482 shares of the company’s stock valued at $32,000 after purchasing an additional 154 shares during the period. Daiwa Securities Group Inc. acquired a new stake in Jackson Financial in the fourth quarter valued at $36,000. Headlands Technologies LLC acquired a new stake in Jackson Financial in the fourth quarter valued at $38,000. Finally, Valued Wealth Advisors LLC acquired a new stake in Jackson Financial in the first quarter valued at $66,000. 89.96% of the stock is currently owned by institutional investors and hedge funds.

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.