Jackson Financial (NYSE:JXN) Sets New 12-Month High – Here’s Why

Jackson Financial Inc. (NYSE:JXN)’s share price reached a new 52-week high during trading on Thursday . The stock traded as high as $118.55 and last traded at $116.1560, with a volume of 43289 shares. The stock had previously closed at $115.98.

Analyst Ratings Changes

Several equities analysts have recently issued reports on JXN shares. Zacks Research raised Jackson Financial from a “hold” rating to a “strong-buy” rating in a report on Monday, October 13th. Morgan Stanley set a $105.00 price objective on Jackson Financial in a research note on Monday, December 15th. Barclays reiterated an “overweight” rating and set a $137.00 target price on shares of Jackson Financial in a research note on Thursday, January 8th. Keefe, Bruyette & Woods boosted their price target on shares of Jackson Financial from $105.00 to $110.00 and gave the stock a “market perform” rating in a report on Thursday, October 9th. Finally, Evercore ISI set a $118.00 price objective on shares of Jackson Financial and gave the stock an “in-line” rating in a report on Tuesday, January 6th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $113.00.

Jackson Financial Stock Performance

The company has a debt-to-equity ratio of 0.47, a current ratio of 0.27 and a quick ratio of 0.27. The firm has a market capitalization of $7.94 billion, a PE ratio of 16.16 and a beta of 1.44. The company’s fifty day simple moving average is $106.86 and its 200 day simple moving average is $99.39.

Jackson Financial (NYSE:JXN) last issued its earnings results on Tuesday, November 4th. The company reported $6.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.10 by $1.06. The business had revenue of $1.90 billion for the quarter, compared to the consensus estimate of $1.89 billion. The company’s revenue was down 33.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $4.60 EPS. As a group, equities research analysts expect that Jackson Financial Inc. will post 20.55 EPS for the current fiscal year.

Jackson Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 18th. Investors of record on Thursday, December 4th were paid a dividend of $0.80 per share. The ex-dividend date of this dividend was Thursday, December 4th. This represents a $3.20 annualized dividend and a yield of 2.7%. Jackson Financial’s dividend payout ratio (DPR) is currently 44.26%.

Institutional Investors Weigh In On Jackson Financial

Several hedge funds have recently bought and sold shares of the stock. Integrated Wealth Concepts LLC grew its position in Jackson Financial by 33.2% in the first quarter. Integrated Wealth Concepts LLC now owns 5,471 shares of the company’s stock worth $458,000 after acquiring an additional 1,363 shares in the last quarter. Woodline Partners LP purchased a new position in shares of Jackson Financial in the 1st quarter worth about $4,081,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of Jackson Financial by 3.6% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 210,836 shares of the company’s stock valued at $17,664,000 after purchasing an additional 7,380 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its holdings in shares of Jackson Financial by 82.1% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 8,440 shares of the company’s stock valued at $751,000 after buying an additional 3,805 shares in the last quarter. Finally, Park Avenue Securities LLC lifted its position in Jackson Financial by 37.9% in the 2nd quarter. Park Avenue Securities LLC now owns 3,931 shares of the company’s stock worth $349,000 after buying an additional 1,081 shares during the last quarter. 89.96% of the stock is currently owned by institutional investors.

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.