Jackson Financial (NYSE:JXN) PT Raised to $70.00

Jackson Financial (NYSE:JXN) had its price target hoisted by Morgan Stanley from $52.00 to $70.00 in a research report released on Monday morning, Benzinga reports. They currently have an equal weight rating on the stock.

Other research analysts also recently issued reports about the company. Evercore ISI boosted their target price on Jackson Financial from $55.00 to $62.00 and gave the stock an in-line rating in a report on Thursday, April 11th. Keefe, Bruyette & Woods upped their price objective on Jackson Financial from $68.00 to $75.00 and gave the stock an outperform rating in a report on Wednesday, April 10th. The Goldman Sachs Group upped their price objective on Jackson Financial from $39.00 to $47.00 and gave the stock a neutral rating in a report on Tuesday, January 9th. Finally, Jefferies Financial Group reaffirmed a hold rating and set a $55.00 price objective on shares of Jackson Financial in a report on Tuesday, January 2nd. Four analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of Hold and a consensus price target of $61.80.

Jackson Financial Stock Up 1.3 %

Shares of JXN opened at $64.37 on Monday. The company has a market capitalization of $4.98 billion, a P/E ratio of 6.56 and a beta of 1.57. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.33 and a quick ratio of 0.33. Jackson Financial has a one year low of $26.70 and a one year high of $68.97. The business’s 50 day simple moving average is $59.66 and its 200-day simple moving average is $50.70.

Jackson Financial (NYSE:JXN) last announced its earnings results on Wednesday, February 21st. The company reported $2.53 EPS for the quarter, missing the consensus estimate of $3.53 by ($1.00). The firm had revenue of $1.93 billion during the quarter, compared to analyst estimates of $1.40 billion. Jackson Financial’s quarterly revenue was up 3.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $5.66 earnings per share. As a group, sell-side analysts predict that Jackson Financial will post 15.95 EPS for the current fiscal year.

Jackson Financial Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 21st. Stockholders of record on Tuesday, March 12th were paid a $0.70 dividend. The ex-dividend date was Monday, March 11th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 4.35%. This is an increase from Jackson Financial’s previous quarterly dividend of $0.62. Jackson Financial’s dividend payout ratio is 28.54%.

Insider Activity

In related news, Director Derek G. Kirkland purchased 3,500 shares of the business’s stock in a transaction dated Monday, March 4th. The shares were bought at an average price of $55.67 per share, with a total value of $194,845.00. Following the purchase, the director now directly owns 37,726 shares in the company, valued at approximately $2,100,206.42. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 1.70% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. NBC Securities Inc. acquired a new position in shares of Jackson Financial in the 3rd quarter valued at $28,000. GAMMA Investing LLC lifted its stake in shares of Jackson Financial by 47.0% in the 1st 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 position in shares of Jackson Financial in the 4th quarter valued at $36,000. Headlands Technologies LLC acquired a new stake in Jackson Financial during the 4th quarter worth $38,000. Finally, Federated Hermes Inc. raised its stake in Jackson Financial by 199.8% during the 3rd quarter. Federated Hermes Inc. now owns 1,382 shares of the company’s stock worth $38,000 after buying an additional 921 shares during the period. Institutional investors and hedge funds own 89.96% of the company’s stock.

Jackson Financial Company Profile

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.