Morgan Stanley Cuts Jackson Financial (NYSE:JXN) Price Target to $101.00

Jackson Financial (NYSE:JXN) had its target price lowered by Morgan Stanley from $106.00 to $101.00 in a research note published on Monday morning,Benzinga reports. The firm currently has an equal weight rating on the stock.

JXN has been the subject of a number of other research reports. Jefferies Financial Group boosted their price target on Jackson Financial from $88.00 to $95.00 and gave the stock a “hold” rating in a report on Monday, August 11th. Keefe, Bruyette & Woods lifted their target price on Jackson Financial from $105.00 to $110.00 and gave the company a “market perform” rating in a research report on Thursday, October 9th. Evercore ISI increased their target price on shares of Jackson Financial from $100.00 to $110.00 and gave the stock an “underperform” rating in a report on Thursday, October 9th. Weiss Ratings restated a “hold (c+)” rating on shares of Jackson Financial in a research note on Thursday, November 13th. Finally, Zacks Research upgraded shares of Jackson Financial from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 13th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $108.80.

Jackson Financial Price Performance

Shares of NYSE:JXN opened at $92.66 on Monday. The firm has a 50 day moving average of $97.93 and a 200-day moving average of $91.72. Jackson Financial has a 12 month low of $64.70 and a 12 month high of $104.61. The company has a current ratio of 0.27, a quick ratio of 0.27 and a debt-to-equity ratio of 0.47. The stock has a market capitalization of $6.30 billion, a PE ratio of 12.82 and a beta of 1.45.

Jackson Financial (NYSE:JXN) last posted its quarterly earnings results on Wednesday, March 22nd. The company reported $6.26 earnings per share (EPS) for the quarter. Jackson Financial had a net margin of 1.73% and a return on equity of 15.73%. The business had revenue of ($1,162.00) million for the quarter. On average, equities research analysts predict that Jackson Financial will post 20.55 EPS for the current fiscal year.

Jackson Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 18th. Stockholders of record on Thursday, December 4th will be paid a $0.80 dividend. The ex-dividend date of this dividend is Thursday, December 4th. This represents a $3.20 annualized dividend and a dividend yield of 3.5%. Jackson Financial’s dividend payout ratio is currently 44.26%.

Jackson Financial declared that its Board of Directors has initiated a stock buyback plan on Thursday, September 18th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the company to purchase up to 14.4% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board believes its stock is undervalued.

Institutional Investors Weigh In On Jackson Financial

Institutional investors have recently made changes to their positions in the stock. Cullen Frost Bankers Inc. bought a new stake in shares of Jackson Financial during the 3rd quarter valued at about $28,000. Twin Peaks Wealth Advisors LLC acquired a new position in Jackson Financial in the second quarter valued at approximately $30,000. Optiver Holding B.V. boosted its holdings in shares of Jackson Financial by 469.2% during the 3rd quarter. Optiver Holding B.V. now owns 296 shares of the company’s stock worth $30,000 after buying an additional 244 shares in the last quarter. Bayforest Capital Ltd grew its position in shares of Jackson Financial by 541.2% during the 3rd quarter. Bayforest Capital Ltd now owns 327 shares of the company’s stock worth $33,000 after buying an additional 276 shares during the period. Finally, Salomon & Ludwin LLC bought a new stake in shares of Jackson Financial in the 3rd quarter valued at $34,000. Institutional investors own 89.96% of the company’s stock.

Jackson Financial Company Profile

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.