Jackson Financial (NYSE:JXN) Shares Gap Up Following Analyst Upgrade

Jackson Financial Inc. (NYSE:JXN) shares gapped up prior to trading on Friday after Jefferies Financial Group upgraded the stock from a hold rating to a buy rating. The stock had previously closed at $110.79, but opened at $116.03. Jefferies Financial Group now has a $140.00 price target on the stock, up from their previous price target of $120.00. Jackson Financial shares last traded at $120.1050, with a volume of 233,712 shares trading hands.

Several other equities research analysts have also commented on the company. Wall Street Zen lowered Jackson Financial from a “buy” rating to a “hold” rating in a research note on Saturday, April 11th. Keefe, Bruyette & Woods boosted their target price on Jackson Financial from $120.00 to $125.00 and gave the stock a “market perform” rating in a report on Wednesday, May 13th. Barclays increased their target price on shares of Jackson Financial from $136.00 to $139.00 and gave the stock an “overweight” rating in a research report on Tuesday. Finally, Weiss Ratings lowered shares of Jackson Financial from a “hold (c)” rating to a “hold (c-)” rating in a report on Tuesday, May 12th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, Jackson Financial presently has an average rating of “Moderate Buy” and a consensus target price of $125.40.

Institutional Investors Weigh In On Jackson Financial

Several hedge funds have recently modified their holdings of JXN. Allworth Financial LP boosted its stake in Jackson Financial by 404.0% during the 3rd quarter. Allworth Financial LP now owns 252 shares of the company’s stock valued at $26,000 after acquiring an additional 202 shares during the last quarter. Rothschild Investment LLC increased its position in shares of Jackson Financial by 79.9% in the 4th quarter. Rothschild Investment LLC now owns 322 shares of the company’s stock worth $34,000 after purchasing an additional 143 shares during the last quarter. Plato Investment Management Ltd bought a new stake in shares of Jackson Financial in the 4th quarter worth about $35,000. Advisory Services Network LLC acquired a new stake in shares of Jackson Financial in the 3rd quarter valued at about $37,000. Finally, Signature Equity Partners LLC bought a new position in shares of Jackson Financial during the first quarter worth about $38,000. 89.96% of the stock is currently owned by hedge funds and other institutional investors.

Jackson Financial Stock Up 7.2%

The firm has a market cap of $8.28 billion, a P/E ratio of -19.44 and a beta of 1.32. The firm’s 50-day moving average price is $108.00 and its 200 day moving average price is $109.68. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.27 and a quick ratio of 0.27.

Jackson Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, June 25th. Shareholders of record on Thursday, June 11th were issued a dividend of $0.90 per share. This represents a $3.60 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date of this dividend was Thursday, June 11th. Jackson Financial’s dividend payout ratio (DPR) is currently -58.92%.

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.