Jackson Financial (NYSE:JXN) Reaches New 52-Week High – Should You Buy?

Jackson Financial Inc. (NYSE:JXN) shares reached a new 52-week high on Wednesday . The stock traded as high as $123.68 and last traded at $123.8010, with a volume of 50502 shares changing hands. The stock had previously closed at $121.92.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. Keefe, Bruyette & Woods increased their price objective on shares of Jackson Financial from $125.00 to $130.00 and gave the company a “market perform” rating in a research report on Monday. Barclays boosted their target price on shares of Jackson Financial from $136.00 to $139.00 and gave the company an “overweight” rating in a research note on Tuesday, July 7th. Jefferies Financial Group raised Jackson Financial from a “hold” rating to a “buy” rating and increased their price target for the company from $120.00 to $140.00 in a report on Friday, July 10th. Wall Street Zen downgraded Jackson Financial from a “buy” rating to a “hold” rating in a research note on Saturday, April 11th. Finally, Weiss Ratings lowered Jackson Financial from a “hold (c)” rating to a “hold (c-)” rating in a report on Tuesday, May 12th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $126.40.

Jackson Financial Stock Up 1.0%

The company has a current ratio of 0.27, a quick ratio of 0.27 and a debt-to-equity ratio of 0.49. The stock has a market cap of $8.75 billion, a P/E ratio of -20.54 and a beta of 1.32. The company’s 50 day moving average price is $108.88 and its two-hundred day moving average price is $110.17.

Jackson Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 25th. Shareholders of record on Thursday, June 11th were given a $0.90 dividend. The ex-dividend date was Thursday, June 11th. This represents a $3.60 annualized dividend and a yield of 2.9%. Jackson Financial’s dividend payout ratio (DPR) is presently -58.92%.

Institutional Investors Weigh In On Jackson Financial

A number of hedge funds have recently modified their holdings of the business. Norges Bank bought a new position in Jackson Financial in the 4th quarter worth $129,878,000. Hsbc Holdings PLC grew its holdings in Jackson Financial by 16.5% during the fourth quarter. Hsbc Holdings PLC now owns 1,550,942 shares of the company’s stock valued at $166,476,000 after purchasing an additional 220,095 shares during the period. Bank of New York Mellon Corp increased its position in Jackson Financial by 31.7% in the fourth quarter. Bank of New York Mellon Corp now owns 886,106 shares of the company’s stock worth $94,503,000 after buying an additional 213,131 shares in the last quarter. Amundi increased its position in Jackson Financial by 1,446.4% in the third quarter. Amundi now owns 193,825 shares of the company’s stock worth $19,696,000 after buying an additional 181,291 shares in the last quarter. Finally, Focus Partners Wealth bought a new position in shares of Jackson Financial in the third quarter worth about $15,812,000. Institutional investors own 89.96% of the company’s stock.

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.