Jackson Financial (NYSE:JXN) Given New $106.00 Price Target at Barclays

Jackson Financial (NYSE:JXN) had its target price cut by equities research analysts at Barclays from $118.00 to $106.00 in a note issued to investors on Friday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Barclays‘s target price suggests a potential upside of 47.48% from the company’s current price.

Several other analysts have also issued reports on the company. Keefe, Bruyette & Woods cut their price objective on Jackson Financial from $105.00 to $90.00 and set a “market perform” rating for the company in a report on Wednesday. Morgan Stanley decreased their price objective on shares of Jackson Financial from $92.00 to $86.00 and set an “equal weight” rating for the company in a research report on Thursday. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company. According to data from MarketBeat, Jackson Financial has an average rating of “Hold” and an average price target of $91.40.

Jackson Financial Trading Up 1.0 %

Shares of NYSE:JXN traded up $0.73 on Friday, hitting $71.88. 590,061 shares of the company’s stock were exchanged, compared to its average volume of 752,343. Jackson Financial has a 12 month low of $62.81 and a 12 month high of $115.22. The business’s 50 day simple moving average is $85.07 and its two-hundred day simple moving average is $92.01. The stock has a market capitalization of $5.22 billion, a price-to-earnings ratio of 6.28 and a beta of 1.49. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.30 and a quick ratio of 0.30.

Jackson Financial (NYSE:JXN) last announced its quarterly earnings results on Wednesday, February 19th. The company reported $4.65 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.72 by ($0.07). The business had revenue of $1.81 billion during the quarter, compared to the consensus estimate of $1.81 billion. Analysts anticipate that Jackson Financial will post 20.55 EPS for the current fiscal year.

Insider Buying and Selling at Jackson Financial

In related news, CEO Scott Romine sold 7,000 shares of the stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $84.43, for a total value of $591,010.00. Following the transaction, the chief executive officer now owns 85,276 shares in the company, valued at approximately $7,199,852.68. This represents a 7.59 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Craig Donald Smith sold 20,607 shares of the business’s stock in a transaction on Monday, April 7th. The shares were sold at an average price of $69.52, for a total transaction of $1,432,598.64. Following the completion of the transaction, the chief executive officer now owns 116,423 shares of the company’s stock, valued at approximately $8,093,726.96. This represents a 15.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.30% of the company’s stock.

Hedge Funds Weigh In On Jackson Financial

Several hedge funds and other institutional investors have recently added to or reduced their stakes in JXN. First Trust Advisors LP raised its stake in shares of Jackson Financial by 13.4% in the fourth quarter. First Trust Advisors LP now owns 4,134,545 shares of the company’s stock valued at $360,036,000 after acquiring an additional 487,803 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Jackson Financial by 0.6% during the fourth quarter. Geode Capital Management LLC now owns 2,099,517 shares of the company’s stock worth $188,522,000 after buying an additional 13,362 shares during the period. Norges Bank purchased a new position in Jackson Financial in the fourth quarter worth approximately $98,767,000. Jacobs Levy Equity Management Inc. increased its position in shares of Jackson Financial by 0.5% in the 4th quarter. Jacobs Levy Equity Management Inc. now owns 1,082,974 shares of the company’s stock valued at $94,305,000 after purchasing an additional 4,987 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of Jackson Financial by 2.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,079,240 shares of the company’s stock worth $93,980,000 after purchasing an additional 28,337 shares during the last quarter. 89.96% of the stock is owned by hedge funds and other institutional investors.

About Jackson Financial

Jackson Financial Inc, through its subsidiaries, provides suite of annuities to retail investors in the United States. The company operates through three segments: Retail Annuities, Institutional Products, and Closed Life and Annuity Blocks. The Retail Annuities segment offers various retirement income and savings products, including variable, fixed index, fixed, and payout annuities, as well as registered index-linked annuities and lifetime income solutions.