Jackson Financial (NYSE:JXN) Price Target Raised to $84.00

Jackson Financial (NYSE:JXN) had its price objective hoisted by Morgan Stanley from $82.00 to $84.00 in a report issued on Wednesday, Benzinga reports. They currently have an equal weight rating on the stock.

A number of other equities research analysts have also recently issued reports on the stock. Evercore ISI decreased their price objective on shares of Jackson Financial from $75.00 to $73.00 and set an in-line rating for the company in a report on Wednesday, June 26th. Keefe, Bruyette & Woods cut shares of Jackson Financial from an outperform rating to a market perform rating and upped their price objective for the stock from $75.00 to $80.00 in a report on Tuesday, May 14th. Finally, Jefferies Financial Group upped their price objective on shares of Jackson Financial from $62.00 to $70.00 and gave the stock a hold rating in a report on Friday, June 28th. Five research analysts have rated the stock with a hold rating, According to MarketBeat.com, the company presently has a consensus rating of Hold and a consensus target price of $70.80.

Jackson Financial Trading Up 0.3 %

Jackson Financial stock opened at $77.92 on Wednesday. The company’s fifty day simple moving average is $74.63 and its 200-day simple moving average is $63.57. 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 12 month low of $31.40 and a 12 month high of $81.52. The stock has a market cap of $5.94 billion, a P/E ratio of 2.06 and a beta of 1.51.

Jackson Financial (NYSE:JXN) last issued its quarterly earnings data on Wednesday, May 8th. The company reported $4.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.67 by $0.56. The business had revenue of $2 billion during the quarter, compared to the consensus estimate of $1.67 billion. The company’s revenue for the quarter was up 5.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $3.15 earnings per share. As a group, sell-side analysts forecast that Jackson Financial will post 17.33 EPS for the current fiscal year.

Jackson Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, June 20th. Shareholders of record on Thursday, June 6th were issued a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 3.59%. The ex-dividend date of this dividend was Thursday, June 6th. Jackson Financial’s dividend payout ratio (DPR) is 7.40%.

Insider Buying and Selling at Jackson Financial

In other news, CFO Don W. Cummings purchased 1,445 shares of the firm’s stock in a transaction on 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 directly owns 45,711 shares of the company’s stock, valued at $3,323,189.70. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, CFO Don W. Cummings acquired 1,445 shares of the business’s stock in a transaction dated Wednesday, June 5th. The stock was acquired at an average price of $72.70 per share, with a total value of $105,051.50. Following the completion of the transaction, the chief financial officer now owns 45,711 shares of the company’s stock, valued at $3,323,189.70. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Devkumar Dilip Ganguly sold 13,000 shares of the company’s stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $75.67, for a total transaction of $983,710.00. Following the transaction, the chief operating officer now directly owns 93,405 shares of the company’s stock, valued at approximately $7,067,956.35. The disclosure for this sale can be found here. Corporate insiders own 1.30% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in JXN. Assetmark Inc. bought a new stake in Jackson Financial during the fourth quarter worth about $2,270,000. FORA Capital LLC grew its stake in Jackson Financial by 399.7% during the first quarter. FORA Capital LLC now owns 27,894 shares of the company’s stock worth $1,845,000 after buying an additional 22,312 shares during the last quarter. Advisors Preferred LLC bought a new stake in Jackson Financial during the fourth quarter worth about $1,680,000. Teachers Retirement System of The State of Kentucky bought a new stake in shares of Jackson Financial during the third quarter valued at approximately $871,000. Finally, Goldman Sachs Group Inc. grew its stake in shares of Jackson Financial by 6.9% during the fourth quarter. Goldman Sachs Group Inc. now owns 1,738,688 shares of the company’s stock valued at $89,021,000 after purchasing an additional 111,875 shares during the last quarter. Institutional investors and hedge funds 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.