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

Jackson Financial Inc. (NYSE:JXN) reached a new 52-week high during trading on Monday . The company traded as high as $109.58 and last traded at $109.4790, with a volume of 84666 shares. The stock had previously closed at $107.46.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Keefe, Bruyette & Woods lifted their price target on Jackson Financial from $105.00 to $110.00 and gave the stock a “market perform” rating in a research report on Thursday, October 9th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Jackson Financial in a report on Monday, December 29th. Morgan Stanley set a $105.00 target price on shares of Jackson Financial in a research note on Monday, December 15th. Barclays raised their price target on shares of Jackson Financial from $125.00 to $128.00 and gave the company an “overweight” rating in a research report on Wednesday, November 5th. Finally, Evercore ISI upped their price objective on Jackson Financial from $100.00 to $110.00 and gave the company an “underperform” rating in a research report on Thursday, October 9th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Jackson Financial currently has an average rating of “Hold” and a consensus price target of $109.60.

Jackson Financial Stock Up 2.9%

The company has a fifty day simple moving average of $100.15 and a 200-day simple moving average of $96.10. The company has a quick ratio of 0.27, a current ratio of 0.27 and a debt-to-equity ratio of 0.47. The firm has a market cap of $7.51 billion, a P/E ratio of 15.28 and a beta of 1.44.

Jackson Financial (NYSE:JXN) last released its quarterly earnings data on Wednesday, March 22nd. The company reported $6.26 EPS for the quarter. The company had revenue of ($1,162.00) million for the quarter. On average, equities analysts anticipate that Jackson Financial Inc. will post 20.55 earnings per share for the current year.

Jackson Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 18th. Investors of record on Thursday, December 4th were given a dividend of $0.80 per share. The ex-dividend date of this dividend was Thursday, December 4th. This represents a $3.20 dividend on an annualized basis and a yield of 2.9%. Jackson Financial’s dividend payout ratio (DPR) is presently 44.26%.

Jackson Financial announced that its Board of Directors has authorized a stock buyback plan on Thursday, September 18th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the company to repurchase up to 14.4% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

Institutional Trading of Jackson Financial

Several large investors have recently added to or reduced their stakes in JXN. Dimensional Fund Advisors LP boosted its holdings 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 acquiring an additional 18,249 shares during the last quarter. Donald Smith & CO. Inc. raised its holdings in shares of Jackson Financial by 2.0% during the second quarter. Donald Smith & CO. Inc. now owns 1,699,087 shares of the company’s stock valued at $150,862,000 after acquiring an additional 33,040 shares during the last quarter. American Century Companies Inc. grew its holdings in shares of Jackson Financial by 0.3% during the third 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 lifted its stake in Jackson Financial by 1.5% in the 2nd quarter. Acadian Asset Management LLC now owns 1,359,477 shares of the company’s stock worth $120,685,000 after purchasing an additional 20,212 shares in the last quarter. Finally, Norges Bank acquired a new position in Jackson Financial during the second quarter worth $102,131,000. Hedge funds and other institutional investors own 89.96% of the company’s stock.

Jackson Financial Company Profile

Jackson Financial Inc is a U.S.-based financial services holding company headquartered in Lansing, Michigan. The company operates primarily through its principal subsidiary, Jackson National Life Insurance Company, and specializes in designing and distributing retirement products. Jackson Financial has been publicly traded on the New York Stock Exchange under the ticker JXN since its initial public offering in May 2022.

The company’s core offerings include a broad range of fixed, variable and indexed annuity products aimed at helping individuals preserve and grow retirement assets.