Jackson Financial Inc. (NYSE:JXN) Receives Consensus Recommendation of “Hold” from Brokerages

Shares of Jackson Financial Inc. (NYSE:JXN) have been given a consensus rating of “Hold” by the six research firms that are covering the company, MarketBeat.com reports. Five equities research analysts have rated the stock with a hold rating and one has issued a buy rating on the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $80.00.

A number of research analysts recently weighed in on JXN shares. Barclays initiated coverage on Jackson Financial in a research report on Wednesday, September 4th. They set an “overweight” rating and a $109.00 price objective for the company. Morgan Stanley lifted their price target on Jackson Financial from $86.00 to $89.00 and gave the stock an “equal weight” rating in a research report on Monday, August 19th. Keefe, Bruyette & Woods increased their price objective on shares of Jackson Financial from $80.00 to $82.00 and gave the company a “market perform” rating in a research report on Wednesday, August 14th. Evercore ISI decreased their target price 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. Finally, Jefferies Financial Group increased their price target on shares of Jackson Financial from $73.00 to $80.00 and gave the company a “hold” rating in a report on Monday, July 29th.

Jackson Financial Stock Up 0.3 %

NYSE:JXN opened at $96.88 on Thursday. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.30 and a quick ratio of 0.30. The firm’s 50-day moving average price is $85.83 and its 200-day moving average price is $77.56. The company has a market capitalization of $7.39 billion, a PE ratio of 2.56 and a beta of 1.50. Jackson Financial has a 1-year low of $36.06 and a 1-year high of $97.61.

Jackson Financial (NYSE:JXN) last announced its quarterly earnings data on Wednesday, August 7th. The company reported $5.32 earnings per share for the quarter, topping analysts’ consensus estimates of $4.32 by $1.00. The business had revenue of $2.01 billion during the quarter, compared to analysts’ expectations of $1.71 billion. During the same quarter last year, the company posted $3.34 EPS. Jackson Financial’s revenue for the quarter was up 5.0% compared to the same quarter last year. On average, equities analysts predict that Jackson Financial will post 18.49 EPS for the current fiscal year.

Jackson Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, September 19th. Stockholders of record on Thursday, September 5th were issued a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.89%. The ex-dividend date of this dividend was Thursday, September 5th. Jackson Financial’s payout ratio is presently 7.40%.

Jackson Financial declared that its board has authorized a stock repurchase plan on Wednesday, August 7th that permits the company to buyback $750.00 million in outstanding shares. This buyback authorization permits the company to purchase up to 10.8% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s board of directors believes its shares are undervalued.

Insider Buying and Selling

In other Jackson Financial news, EVP Carrie Chelko sold 5,500 shares of the company’s stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $91.31, for a total transaction of $502,205.00. Following the completion of the sale, the executive vice president now directly owns 61,829 shares of the company’s stock, valued at approximately $5,645,605.99. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.30% of the stock is currently owned by insiders.

Institutional Trading of Jackson Financial

Hedge funds have recently bought and sold shares of the stock. Dimensional Fund Advisors LP lifted its position in shares of Jackson Financial by 3.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 4,471,335 shares of the company’s stock valued at $332,035,000 after buying an additional 163,598 shares in the last quarter. Donald Smith & CO. Inc. raised its position in shares of Jackson Financial by 20.1% during the 1st quarter. Donald Smith & CO. Inc. now owns 2,376,476 shares of the company’s stock valued at $157,180,000 after purchasing an additional 397,287 shares during the period. Goldman Sachs Group Inc. raised its position in shares of Jackson Financial by 6.9% during the 4th 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 period. American Century Companies Inc. boosted its holdings in Jackson Financial by 6.5% in the 2nd quarter. American Century Companies Inc. now owns 1,623,071 shares of the company’s stock worth $120,529,000 after buying an additional 98,792 shares during the period. Finally, Acadian Asset Management LLC boosted its holdings in Jackson Financial by 146.3% in the 2nd quarter. Acadian Asset Management LLC now owns 1,219,218 shares of the company’s stock worth $90,525,000 after buying an additional 724,148 shares during the period. Institutional investors 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.