Jackson Financial (NYSE:JXN) Price Target Raised to $140.00

Jackson Financial (NYSE:JXN) had its price target raised by Keefe, Bruyette & Woods from $130.00 to $140.00 in a report issued on Wednesday,Benzinga reports. The brokerage currently has a market perform rating on the stock.

Several other analysts have also recently weighed in on JXN. Barclays boosted their price target on Jackson Financial from $139.00 to $149.00 and gave the stock an “overweight” rating in a report on Tuesday. Weiss Ratings lowered shares of Jackson Financial from a “hold (c)” rating to a “hold (c-)” rating in a report on Tuesday, May 12th. Wall Street Zen lowered Jackson Financial from a “buy” rating to a “hold” rating in a research report on Saturday, April 11th. Jefferies Financial Group upgraded Jackson Financial from a “hold” rating to a “buy” rating and raised their price objective for the stock from $120.00 to $140.00 in a research report on Friday, July 10th. Finally, Evercore set a $135.00 price objective on shares of Jackson Financial in a research note on Wednesday. One equities research 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 company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $133.80.

Jackson Financial Stock Down 2.8%

Shares of JXN opened at $129.61 on Wednesday. The firm has a 50 day simple moving average of $114.28 and a two-hundred day simple moving average of $111.64. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.26 and a quick ratio of 0.27. Jackson Financial has a one year low of $88.20 and a one year high of $137.99. The company has a market cap of $9.04 billion, a P/E ratio of 182.55 and a beta of 1.30.

Jackson Financial (NYSE:JXN) last issued its earnings results on Monday, August 3rd. The company reported $7.30 earnings per share for the quarter, beating analysts’ consensus estimates of $5.72 by $1.58. Jackson Financial had a return on equity of 18.93% and a net margin of 1.59%.The firm had revenue of $2 billion for the quarter, compared to the consensus estimate of $1.91 billion.

Jackson Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 24th. Stockholders of record on Tuesday, September 15th will be given a dividend of $0.90 per share. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $3.60 annualized dividend and a dividend yield of 2.8%. Jackson Financial’s dividend payout ratio (DPR) is currently 507.04%.

Insider Transactions at Jackson Financial

In other news, EVP Carrie Chelko sold 7,500 shares of Jackson Financial stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $134.24, for a total value of $1,006,800.00. Following the completion of the transaction, the executive vice president owned 80,914 shares in the company, valued at $10,861,895.36. This trade represents a 8.48% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.40% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Allworth Financial LP boosted its holdings in shares of Jackson Financial by 404.0% in the 3rd quarter. Allworth Financial LP now owns 252 shares of the company’s stock worth $26,000 after purchasing an additional 202 shares in the last quarter. Rothschild Investment LLC raised its position in Jackson Financial by 79.9% in the 4th quarter. Rothschild Investment LLC now owns 322 shares of the company’s stock worth $34,000 after purchasing an additional 143 shares during the period. Plato Investment Management Ltd bought a new position in Jackson Financial during the 4th quarter worth approximately $35,000. Signature Equity Partners LLC bought a new position in Jackson Financial during the 1st quarter worth approximately $38,000. Finally, Advisory Services Network LLC purchased a new position in Jackson Financial in the 3rd quarter worth approximately $37,000. 89.96% of the stock is currently owned by hedge funds and other institutional investors.

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.