Barclays Cuts Jackson Financial (NYSE:JXN) Price Target to $136.00

Jackson Financial (NYSE:JXN) had its target price decreased by Barclays from $138.00 to $136.00 in a research report released on Wednesday morning,Benzinga reports. Barclays currently has an overweight rating on the stock.

Other equities analysts have also issued research reports about the company. Weiss Ratings reiterated a “hold (c+)” rating on shares of Jackson Financial in a research note on Monday, December 29th. Wall Street Zen upgraded Jackson Financial from a “hold” rating to a “buy” rating in a research note on Saturday, February 28th. Keefe, Bruyette & Woods restated a “hold” rating and issued a $123.00 price target on shares of Jackson Financial in a research note on Thursday, March 26th. Evercore set a $118.00 price target on Jackson Financial and gave the company an “in-line” rating in a research note on Tuesday, January 6th. Finally, Morgan Stanley set a $105.00 price target on Jackson Financial in a research note on Monday, December 15th. One investment 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 company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $114.80.

Jackson Financial Stock Down 1.6%

Jackson Financial stock opened at $101.68 on Wednesday. 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 stock has a market capitalization of $7.19 billion, a price-to-earnings ratio of -290.50 and a beta of 1.45. Jackson Financial has a 1-year low of $68.74 and a 1-year high of $123.61. The business has a fifty day moving average price of $109.68 and a 200-day moving average price of $105.37.

Jackson Financial (NYSE:JXN) last issued its earnings results on Wednesday, February 18th. The company reported $6.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.90 by $0.71. The firm had revenue of $1.94 billion during the quarter, compared to analysts’ expectations of $1.92 billion. The business’s revenue was down 2.8% on a year-over-year basis. During the same quarter last year, the business earned $4.65 EPS. Equities research analysts forecast that Jackson Financial will post 20.55 EPS for the current fiscal year.

Jackson Financial Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 26th. Stockholders of record on Monday, March 16th were issued a dividend of $0.90 per share. The ex-dividend date was Monday, March 16th. This represents a $3.60 annualized dividend and a dividend yield of 3.5%. This is an increase from Jackson Financial’s previous quarterly dividend of $0.80. Jackson Financial’s payout ratio is presently -1,028.57%.

Institutional Trading of Jackson Financial

Several institutional investors have recently made changes to their positions in the company. Sound Income Strategies LLC raised its position in shares of Jackson Financial by 25.5% during the 4th quarter. Sound Income Strategies LLC now owns 483 shares of the company’s stock valued at $55,000 after buying an additional 98 shares during the period. Wetzel Investment Advisors Inc. raised its position in shares of Jackson Financial by 4.5% during the 4th quarter. Wetzel Investment Advisors Inc. now owns 2,300 shares of the company’s stock valued at $245,000 after buying an additional 100 shares during the period. Seeds Investor LLC raised its position in Jackson Financial by 4.5% in the fourth quarter. Seeds Investor LLC now owns 2,373 shares of the company’s stock valued at $253,000 after purchasing an additional 102 shares during the period. Samalin Investment Counsel LLC raised its position in Jackson Financial by 2.0% in the third quarter. Samalin Investment Counsel LLC now owns 5,370 shares of the company’s stock valued at $544,000 after purchasing an additional 104 shares during the period. Finally, Triumph Capital Management raised its position in Jackson Financial by 2.7% in the fourth quarter. Triumph Capital Management now owns 4,110 shares of the company’s stock valued at $438,000 after purchasing an additional 107 shares during the period. 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.