Jackson Financial (NYSE:JXN) Downgraded to “Hold” Rating by Wall Street Zen

Wall Street Zen cut shares of Jackson Financial (NYSE:JXN) from a buy rating to a hold rating in a research note issued to investors on Saturday.

Other equities research analysts have also issued research reports about the stock. Evercore set a $118.00 price target on shares of Jackson Financial and gave the stock an “in-line” rating in a report on Tuesday, January 6th. Morgan Stanley set a $105.00 price target on shares of Jackson Financial in a report on Monday, December 15th. Barclays cut their price target on shares of Jackson Financial from $138.00 to $136.00 and set an “overweight” rating on the stock in a report on Wednesday. Keefe, Bruyette & Woods cut their price target on shares of Jackson Financial from $123.00 to $120.00 and set a “market perform” rating on the stock in a report on Friday. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Jackson Financial in a report on Monday, December 29th. One research 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.com, the stock presently has an average rating of “Hold” and an average price target of $114.80.

Jackson Financial Price Performance

JXN stock opened at $101.68 on Friday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.27 and a current ratio of 0.27. Jackson Financial has a 52 week low of $68.74 and a 52 week high of $123.61. The firm’s fifty day moving average is $109.68 and its 200 day moving average is $105.39. The firm has a market cap of $7.19 billion, a P/E ratio of -290.50 and a beta of 1.45.

Jackson Financial (NYSE:JXN) last released its earnings results on Wednesday, February 18th. The company reported $6.61 EPS for the quarter, beating the consensus estimate of $5.90 by $0.71. The business had revenue of $1.94 billion for the quarter, compared to the consensus estimate of $1.92 billion. Jackson Financial’s revenue for the quarter was down 2.8% on a year-over-year basis. During the same period in the prior year, the business posted $4.65 EPS. Research analysts predict that Jackson Financial will post 20.55 earnings per share for the current 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 given a $0.90 dividend. The ex-dividend date of this dividend was Monday, March 16th. This represents a $3.60 annualized dividend and a dividend yield of 3.5%. This is a positive change from Jackson Financial’s previous quarterly dividend of $0.80. Jackson Financial’s dividend payout ratio is -1,028.57%.

Institutional Investors Weigh In On Jackson Financial

Several institutional investors and hedge funds have recently modified their holdings of JXN. Integrated Wealth Concepts LLC lifted its position in shares of Jackson Financial by 33.2% in the 1st quarter. Integrated Wealth Concepts LLC now owns 5,471 shares of the company’s stock worth $458,000 after purchasing an additional 1,363 shares during the period. Woodline Partners LP purchased a new stake 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 lifted its position in shares of Jackson Financial by 3.6% in 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 worth $17,664,000 after purchasing an additional 7,380 shares during the period. EverSource Wealth Advisors LLC lifted its position in shares of Jackson Financial by 55.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 911 shares of the company’s stock worth $81,000 after purchasing an additional 325 shares during the period. Finally, Marshall Wace LLP purchased a new stake in shares of Jackson Financial in the 2nd quarter worth about $986,000. 89.96% of the stock is owned by hedge funds and other 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.