Jackson Financial Inc. (NYSE:JXN) Receives $109.20 Consensus PT from Brokerages

Shares of Jackson Financial Inc. (NYSE:JXN) have been assigned a consensus recommendation of “Hold” from the seven analysts that are presently covering the stock, Marketbeat reports. One analyst has rated the stock with a sell rating, four have given a hold rating, one has assigned a buy rating and one has issued a strong buy rating on the company. The average 1 year price objective among brokers that have covered the stock in the last year is $109.20.

Several research firms have recently issued reports on JXN. Barclays upped their target price on Jackson Financial from $118.00 to $125.00 and gave the company an “overweight” rating in a report on Wednesday, October 8th. Zacks Research raised Jackson Financial from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 13th. Jefferies Financial Group boosted their target price on Jackson Financial from $88.00 to $95.00 and gave the company a “hold” rating in a research note on Monday, August 11th. Evercore ISI boosted their target price on Jackson Financial from $100.00 to $110.00 and gave the company an “underperform” rating in a research note on Thursday, October 9th. Finally, Morgan Stanley boosted their target price on Jackson Financial from $97.00 to $106.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 7th.

Jackson Financial Stock Performance

JXN stock opened at $96.16 on Friday. The firm has a market cap of $6.70 billion, a PE ratio of -1,602.37 and a beta of 1.45. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.46. The business has a 50 day moving average of $98.14 and a 200-day moving average of $88.13. Jackson Financial has a 12-month low of $64.70 and a 12-month high of $115.22.

Jackson Financial (NYSE:JXN) last released its earnings results on Wednesday, March 22nd. The company reported $6.26 earnings per share (EPS) for the quarter. The company had revenue of ($1,162.00) million during the quarter. Jackson Financial had a return on equity of 14.73% and a net margin of 1.73%. As a group, sell-side analysts expect that Jackson Financial will post 20.55 earnings per share for the current year.

Jackson Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 25th. Shareholders of record on Monday, September 15th were paid a $0.80 dividend. The ex-dividend date was Monday, September 15th. This represents a $3.20 annualized dividend and a dividend yield of 3.3%. Jackson Financial’s payout ratio is presently -5,333.33%.

Jackson Financial announced that its board has initiated a stock repurchase program on Thursday, September 18th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the company to reacquire up to 14.4% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s board of directors believes its stock is undervalued.

Institutional Investors Weigh In On Jackson Financial

Several institutional investors have recently made changes to their positions in the stock. Donald Smith & CO. Inc. lifted its position in shares of Jackson Financial by 2.0% during the second quarter. Donald Smith & CO. Inc. now owns 1,699,087 shares of the company’s stock worth $150,862,000 after acquiring an additional 33,040 shares in the last quarter. Acadian Asset Management LLC lifted its position in shares of Jackson Financial by 1.5% during the second quarter. Acadian Asset Management LLC now owns 1,359,477 shares of the company’s stock worth $120,685,000 after acquiring an additional 20,212 shares in the last quarter. Norges Bank purchased a new stake in shares of Jackson Financial during the second quarter worth $102,131,000. Charles Schwab Investment Management Inc. lifted its position in shares of Jackson Financial by 0.5% during the first quarter. Charles Schwab Investment Management Inc. now owns 1,084,560 shares of the company’s stock worth $90,864,000 after acquiring an additional 5,320 shares in the last quarter. Finally, LSV Asset Management lifted its position in shares of Jackson Financial by 28.3% during the second quarter. LSV Asset Management now owns 836,238 shares of the company’s stock worth $74,250,000 after acquiring an additional 184,440 shares in the last quarter. Hedge funds and other institutional investors own 89.96% of the company’s stock.

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.