Jackson Financial Inc. (NYSE:JXN) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of Jackson Financial Inc. (NYSE:JXN) have earned an average recommendation of “Moderate Buy” from the seven brokerages that are currently covering the company, Marketbeat reports. Four investment analysts have rated the stock with a hold recommendation, two have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $133.80.

Several research analysts have recently commented on JXN shares. Weiss Ratings raised shares of Jackson Financial from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday, August 4th. Keefe, Bruyette & Woods boosted their price target on Jackson Financial from $130.00 to $140.00 and gave the company a “market perform” rating in a research note on Wednesday, August 5th. Wall Street Zen raised Jackson Financial from a “hold” rating to a “buy” rating in a research report on Saturday, August 8th. Evercore set a $135.00 price objective on Jackson Financial in a research note on Wednesday, August 5th. Finally, Jefferies Financial Group raised Jackson Financial from a “hold” rating to a “buy” rating and lifted their price objective for the company from $120.00 to $140.00 in a report on Friday, July 10th.

Insider Transactions at Jackson Financial

In related news, EVP Carrie Chelko sold 7,500 shares of the business’s stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $134.24, for a total value of $1,006,800.00. Following the completion of the transaction, the executive vice president owned 80,914 shares of the company’s stock, valued at $10,861,895.36. The trade was a 8.48% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Christopher Raub sold 5,000 shares of the company’s stock in a transaction dated Wednesday, August 12th. The stock was sold at an average price of $130.69, for a total transaction of $653,450.00. Following the sale, the chief executive officer directly owned 42,160 shares of the company’s stock, valued at $5,509,890.40. This represents a 10.60% decrease in their position. The SEC filing for this sale provides additional information. 1.40% of the stock is owned by insiders.

Hedge Funds Weigh In On Jackson Financial

Hedge funds and other institutional investors have recently made changes to their positions in the company. Bank of New York Mellon Corp raised its position in Jackson Financial by 2.8% during the first quarter. Bank of New York Mellon Corp now owns 910,853 shares of the company’s stock valued at $96,295,000 after purchasing an additional 24,747 shares in the last quarter. Horizon Investments LLC acquired a new stake in shares of Jackson Financial in the 4th quarter valued at $2,638,000. Renaissance Technologies LLC acquired a new stake in shares of Jackson Financial in the 1st quarter valued at $10,836,000. Walleye Capital LLC bought a new position in shares of Jackson Financial in the 1st quarter valued at $1,369,000. Finally, Candriam S.C.A. increased its stake in shares of Jackson Financial by 31.5% in the 1st quarter. Candriam S.C.A. now owns 177,950 shares of the company’s stock valued at $18,813,000 after purchasing an additional 42,607 shares during the last quarter. 89.96% of the stock is currently owned by institutional investors and hedge funds.

Jackson Financial Price Performance

NYSE:JXN opened at $133.69 on Tuesday. Jackson Financial has a 52 week low of $89.67 and a 52 week high of $137.99. The firm has a market cap of $9.05 billion, a price-to-earnings ratio of 188.30 and a beta of 1.30. The firm’s 50-day simple moving average is $122.29 and its 200 day simple moving average is $113.39. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.26 and a current ratio of 0.26.

Jackson Financial (NYSE:JXN) last issued its quarterly earnings data on Monday, August 3rd. The company reported $7.30 earnings per share for the quarter, topping the consensus estimate of $5.72 by $1.58. The business had revenue of $2 billion during the quarter, compared to analysts’ expectations of $1.91 billion. Jackson Financial had a net margin of 1.59% and a return on equity of 18.93%.

Jackson Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 24th. Investors of record on Tuesday, September 15th will be given a $0.90 dividend. The ex-dividend date is Tuesday, September 15th. This represents a $3.60 dividend on an annualized basis and a dividend yield of 2.7%. Jackson Financial’s dividend payout ratio (DPR) is presently 507.04%.

About Jackson Financial

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.