Jackson Financial (NYSE:JXN) Hits New 1-Year High at $71.05

Jackson Financial Inc. (NYSE:JXN)’s stock price hit a new 52-week high during trading on Friday . The stock traded as high as $71.05 and last traded at $70.93, with a volume of 45407 shares changing hands. The stock had previously closed at $69.42.

Analyst Upgrades and Downgrades

JXN has been the topic of several research analyst reports. Evercore ISI raised their target price on shares of 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 lifted their price objective on shares of Jackson Financial from $68.00 to $75.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 10th. 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. Finally, The Goldman Sachs Group boosted their price target on Jackson Financial from $39.00 to $47.00 and gave the company a “neutral” rating in a research note on Tuesday, January 9th. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $61.80.

Jackson Financial Price Performance

The business’s fifty day simple moving average is $63.32 and its 200-day simple moving average is $52.95. The company has a current ratio of 0.33, a quick ratio of 0.33 and a debt-to-equity ratio of 0.41. The firm has a market cap of $5.51 billion, a P/E ratio of 7.07 and a beta of 1.54.

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

Jackson Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 21st. Stockholders of record on Tuesday, March 12th were paid a $0.70 dividend. This is a boost from Jackson Financial’s previous quarterly dividend of $0.62. The ex-dividend date was Monday, March 11th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.94%. Jackson Financial’s dividend payout ratio is 28.54%.

Insider Buying and Selling

In other news, Director Derek G. Kirkland bought 3,500 shares of the company’s stock in a transaction dated Monday, March 4th. The stock was bought at an average cost of $55.67 per share, for a total transaction of $194,845.00. Following the completion of the acquisition, the director now owns 37,726 shares in the company, valued at approximately $2,100,206.42. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.30% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Jackson Financial

Several hedge funds and other institutional investors have recently bought and sold shares of JXN. NBC Securities Inc. bought a new position in Jackson Financial in the third quarter worth about $28,000. GAMMA Investing LLC lifted its position in Jackson Financial by 47.0% during the first quarter. GAMMA Investing LLC now owns 482 shares of the company’s stock valued at $32,000 after acquiring an additional 154 shares during the last quarter. Daiwa Securities Group Inc. acquired a new stake in Jackson Financial in the fourth quarter valued at approximately $36,000. Headlands Technologies LLC acquired a new position in shares of Jackson Financial during the fourth quarter worth $38,000. Finally, PNC Financial Services Group Inc. lifted its holdings in shares of Jackson Financial by 291.2% during the 3rd quarter. PNC Financial Services Group Inc. now owns 1,025 shares of the company’s stock valued at $39,000 after purchasing an additional 763 shares during the last quarter. 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.