Barclays Forecasts Strong Price Appreciation for Jackson Financial (NYSE:JXN) Stock

Jackson Financial (NYSE:JXN) had its price objective upped by Barclays from $106.00 to $108.00 in a report published on Thursday,Benzinga reports. The brokerage currently has an overweight rating on the stock.

Other equities analysts have also recently issued research reports about the stock. Keefe, Bruyette & Woods dropped their price target on shares of Jackson Financial from $105.00 to $90.00 and set a “market perform” rating on the stock in a research report on Wednesday, April 9th. Morgan Stanley lowered their price objective on Jackson Financial from $92.00 to $86.00 and set an “equal weight” rating for the company in a research note on Thursday, April 10th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $91.80.

Jackson Financial Trading Down 0.6 %

Shares of Jackson Financial stock opened at $84.37 on Thursday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.30 and a current ratio of 0.30. Jackson Financial has a 52 week low of $64.70 and a 52 week high of $115.22. The stock has a 50 day moving average price of $79.39 and a two-hundred day moving average price of $89.24. The stock has a market capitalization of $6.13 billion, a PE ratio of 7.37 and a beta of 1.50.

Jackson Financial (NYSE:JXN) last announced its quarterly earnings results on Wednesday, May 7th. The company reported $5.10 EPS for the quarter, beating analysts’ consensus estimates of $4.93 by $0.17. The business had revenue of $3.75 billion for the quarter, compared to the consensus estimate of $1.80 billion. During the same quarter last year, the firm posted $4.23 EPS. The business’s revenue for the quarter was down .6% compared to the same quarter last year. As a group, equities analysts anticipate that Jackson Financial will post 20.55 earnings per share for the current fiscal year.

Jackson Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 26th. Shareholders of record on Thursday, June 12th will be given a dividend of $0.80 per share. The ex-dividend date of this dividend is Thursday, June 12th. This represents a $3.20 annualized dividend and a dividend yield of 3.79%. Jackson Financial’s dividend payout ratio is currently 310.68%.

Insider Activity

In other Jackson Financial news, CEO Scott Romine sold 7,000 shares of the business’s stock in a transaction on Friday, March 7th. The stock was 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 of the company’s stock, valued at approximately $7,199,852.68. The trade was a 7.59 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Craig Donald Smith sold 20,607 shares of the firm’s stock in a transaction on Monday, April 7th. The shares were sold at an average price of $69.52, for a total value of $1,432,598.64. Following the sale, the chief executive officer now directly 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. 1.60% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Barclays PLC raised its holdings in shares of Jackson Financial by 251.6% in the 3rd quarter. Barclays PLC now owns 134,001 shares of the company’s stock worth $12,223,000 after purchasing an additional 95,893 shares during the period. World Investment Advisors LLC bought a new stake in shares of Jackson Financial in the third quarter valued at $31,000. Principal Financial Group Inc. lifted its position in shares of Jackson Financial by 0.3% during the 3rd quarter. Principal Financial Group Inc. now owns 407,104 shares of the company’s stock valued at $37,140,000 after buying an additional 1,152 shares during the last quarter. GAMMA Investing LLC grew its stake in shares of Jackson Financial by 7.1% during the 4th quarter. GAMMA Investing LLC now owns 1,778 shares of the company’s stock worth $155,000 after acquiring an additional 118 shares during the period. Finally, Brookstone Capital Management bought a new position in shares of Jackson Financial during the 4th quarter worth $214,000. 89.96% of the stock is currently 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.