Jackson Financial (NYSE:JXN) Sets New 52-Week High – Still a Buy?

Shares of Jackson Financial Inc. (NYSE:JXN) hit a new 52-week high on Thursday . The stock traded as high as $105.44 and last traded at $105.0880, with a volume of 46893 shares traded. The stock had previously closed at $103.51.

Analysts Set New Price Targets

JXN has been the topic of a number of recent analyst reports. Evercore ISI lifted their target price on Jackson Financial from $100.00 to $110.00 and gave the company an “underperform” rating in a research report on Thursday, October 9th. Morgan Stanley decreased their price target on shares of Jackson Financial from $106.00 to $101.00 and set an “equal weight” rating on the stock in a report on Monday, November 17th. Barclays increased their price objective on shares of Jackson Financial from $125.00 to $128.00 and gave the company an “overweight” rating in a research note on Wednesday, November 5th. Keefe, Bruyette & Woods boosted their target price on shares of Jackson Financial from $105.00 to $110.00 and gave the stock a “market perform” rating in a research note on Thursday, October 9th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Jackson Financial in a research note on Monday. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, four have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Jackson Financial currently has a consensus rating of “Hold” and a consensus target price of $108.80.

Jackson Financial Trading Up 2.0%

The business’s fifty day moving average price is $97.21 and its 200 day moving average price is $93.14. The company has a market cap of $7.18 billion, a price-to-earnings ratio of 14.61 and a beta of 1.45. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.27 and a quick ratio of 0.27.

Jackson Financial (NYSE:JXN) last issued its quarterly earnings data on Wednesday, March 22nd. The company reported $6.26 earnings per share (EPS) for the quarter. Jackson Financial had a return on equity of 15.73% and a net margin of 1.73%.The company had revenue of ($1,162.00) million during the quarter. Research analysts anticipate that Jackson Financial Inc. will post 20.55 earnings per share for the current fiscal year.

Jackson Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 18th. Stockholders of record on Thursday, December 4th will be given a dividend of $0.80 per share. The ex-dividend date is Thursday, December 4th. This represents a $3.20 annualized dividend and a dividend yield of 3.0%. Jackson Financial’s dividend payout ratio is 44.26%.

Jackson Financial declared that its Board of Directors has authorized a share repurchase program on Thursday, September 18th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the company to buy up to 14.4% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.

Institutional Trading of Jackson Financial

A number of large investors have recently bought and sold shares of JXN. Dimensional Fund Advisors LP lifted its stake in shares of Jackson Financial by 0.5% in the 3rd quarter. Dimensional Fund Advisors LP now owns 3,994,949 shares of the company’s stock valued at $404,415,000 after purchasing an additional 18,249 shares during the period. Donald Smith & CO. Inc. lifted its stake in Jackson Financial by 2.0% in the second quarter. Donald Smith & CO. Inc. now owns 1,699,087 shares of the company’s stock valued at $150,862,000 after buying an additional 33,040 shares during the period. American Century Companies Inc. boosted its holdings in shares of Jackson Financial by 0.3% during the 3rd quarter. American Century Companies Inc. now owns 1,516,935 shares of the company’s stock worth $153,559,000 after buying an additional 4,559 shares in the last quarter. Acadian Asset Management LLC grew its position in shares of Jackson Financial by 1.5% during the 2nd quarter. Acadian Asset Management LLC now owns 1,359,477 shares of the company’s stock worth $120,685,000 after buying an additional 20,212 shares during the period. Finally, Norges Bank bought a new stake in shares of Jackson Financial in the 2nd quarter valued at $102,131,000. 89.96% of the stock is currently owned by institutional investors and hedge funds.

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.