Barclays Begins Coverage on Jackson Financial (NYSE:JXN)

Barclays assumed coverage on shares of Jackson Financial (NYSE:JXN) in a research note issued to investors on Wednesday morning, Marketbeat reports. The firm issued an overweight rating and a $109.00 target price on the stock.

JXN has been the topic of several other research reports. Jefferies Financial Group upped their price objective on Jackson Financial from $73.00 to $80.00 and gave the company a hold rating in a research note on Monday, July 29th. Evercore ISI lowered their target price on shares of Jackson Financial from $75.00 to $73.00 and set an in-line rating on the stock in a report on Wednesday, June 26th. Keefe, Bruyette & Woods boosted their target price on shares of Jackson Financial from $80.00 to $82.00 and gave the company a market perform rating in a report on Wednesday, August 14th. Finally, Morgan Stanley boosted their target price on shares of Jackson Financial from $86.00 to $89.00 and gave the company an equal weight rating in a report on Monday, August 19th. Five research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Jackson Financial presently has a consensus rating of Hold and a consensus price target of $80.00.

Jackson Financial Price Performance

Jackson Financial stock opened at $81.16 on Wednesday. Jackson Financial has a 12 month low of $35.27 and a 12 month high of $90.10. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.42. The business’s 50 day simple moving average is $82.16 and its 200 day simple moving average is $72.60. The company has a market cap of $6.19 billion, a price-to-earnings ratio of 2.14 and a beta of 1.50.

Jackson Financial (NYSE:JXN) last posted its quarterly earnings data on Wednesday, August 7th. The company reported $5.32 EPS for the quarter, beating the consensus estimate of $4.32 by $1.00. The firm had revenue of $2.01 billion during the quarter, compared to analysts’ expectations of $1.71 billion. During the same quarter in the previous year, the company posted $3.34 EPS. Jackson Financial’s revenue for the quarter was up 5.0% on a year-over-year basis. Sell-side analysts forecast that Jackson Financial will post 18.49 EPS for the current year.

Jackson Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 19th. Stockholders of record on Thursday, September 5th will be issued a $0.70 dividend. The ex-dividend date of this dividend is Thursday, September 5th. This represents a $2.80 annualized dividend and a dividend yield of 3.45%. Jackson Financial’s payout ratio is currently 7.40%.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Hantz Financial Services Inc. bought a new position in shares of Jackson Financial in the second quarter worth $25,000. EverSource Wealth Advisors LLC increased its stake 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 acquiring an additional 316 shares during the last quarter. GAMMA Investing LLC increased its stake 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 acquiring an additional 154 shares during the last quarter. Valued Wealth Advisors LLC bought a new position in Jackson Financial in the first quarter valued at $66,000. Finally, CWM LLC increased its stake in Jackson Financial by 80.5% in the second quarter. CWM LLC now owns 1,025 shares of the company’s stock valued at $76,000 after acquiring an additional 457 shares during the last quarter. Institutional investors 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.