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

Shares of Jackson Financial Inc. (NYSE:JXN) have received an average rating of “Moderate Buy” from the seven brokerages that are presently covering the company, MarketBeat.com reports. Four analysts have rated the stock with a hold recommendation, two have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $133.80.

A number of research analysts recently weighed in on the stock. Weiss Ratings upgraded shares of Jackson Financial from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday. Wall Street Zen lowered Jackson Financial from a “buy” rating to a “hold” rating in a research note on Saturday, April 11th. Barclays raised their price target on Jackson Financial from $139.00 to $149.00 and gave the company an “overweight” rating in a report on Tuesday. Evercore set a $135.00 price objective on Jackson Financial in a research note on Wednesday. Finally, Jefferies Financial Group raised Jackson Financial from a “hold” rating to a “buy” rating and upped their price objective for the stock from $120.00 to $140.00 in a research note on Friday, July 10th.

Insiders Place Their Bets

In other Jackson Financial news, EVP Carrie Chelko sold 7,500 shares of the company’s stock in a transaction that occurred on 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 directly owned 80,914 shares in the company, valued at $10,861,895.36. This represents a 8.48% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 1.40% of the stock is owned by insiders.

Hedge Funds Weigh In On Jackson Financial

Hedge funds have recently modified their holdings of the stock. Bank of New York Mellon Corp boosted its stake in shares of Jackson Financial by 2.8% during the 1st quarter. Bank of New York Mellon Corp now owns 910,853 shares of the company’s stock worth $96,295,000 after purchasing an additional 24,747 shares during the period. Accordant Advisory Group Inc purchased a new stake in Jackson Financial in the 4th quarter worth about $1,678,000. Horizon Investments LLC purchased a new stake in Jackson Financial in the 4th quarter worth about $2,638,000. Walleye Capital LLC bought a new stake in Jackson Financial in the first quarter worth about $1,369,000. Finally, Renaissance Technologies LLC bought a new stake in Jackson Financial in the first quarter worth about $10,836,000. Hedge funds and other institutional investors own 89.96% of the company’s stock.

Jackson Financial Price Performance

NYSE JXN opened at $133.30 on Friday. The company has a current ratio of 0.26, a quick ratio of 0.27 and a debt-to-equity ratio of 0.53. Jackson Financial has a 12 month low of $88.20 and a 12 month high of $137.99. The stock has a market cap of $9.30 billion, a price-to-earnings ratio of 187.75 and a beta of 1.30. The company’s 50 day moving average is $113.74 and its two-hundred day moving average is $111.51.

Jackson Financial (NYSE:JXN) last posted its quarterly earnings results on Monday, August 3rd. The company reported $7.30 earnings per share for the quarter, topping analysts’ consensus estimates of $5.72 by $1.58. The business had revenue of $2 billion during the quarter, compared to analyst estimates 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 firm also recently declared a quarterly dividend, which will be paid on Thursday, September 24th. Investors of record on Tuesday, September 15th will be issued a $0.90 dividend. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $3.60 dividend on an annualized basis and a yield of 2.7%. Jackson Financial’s payout ratio is currently 507.04%.

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.