Jackson Financial’s (JXN) Market Perform Rating Reiterated at Keefe, Bruyette & Woods

Keefe, Bruyette & Woods reissued their market perform rating on shares of Jackson Financial (NYSE:JXN) in a research note published on Friday morning,Benzinga reports. Keefe, Bruyette & Woods currently has a $140.00 price target on the stock.

Other analysts have also issued research reports about the stock. Wall Street Zen raised shares of Jackson Financial from a “hold” rating to a “buy” rating in a report on Saturday, August 8th. Barclays boosted their target price on Jackson Financial from $139.00 to $149.00 and gave the stock an “overweight” rating in a report on Tuesday, August 4th. Evercore set a $135.00 price target on Jackson Financial in a research report on Wednesday, August 5th. Weiss Ratings raised Jackson Financial from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday, August 4th. Finally, Jefferies Financial Group upgraded Jackson Financial from a “hold” rating to a “buy” rating and lifted their price objective for the company from $120.00 to $140.00 in a research report on Friday, July 10th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $133.80.

Jackson Financial Stock Down 0.2%

JXN opened at $132.44 on Friday. The firm’s 50-day simple moving average is $130.54 and its 200-day simple moving average is $115.74. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.26 and a current ratio of 0.26. Jackson Financial has a twelve month low of $89.67 and a twelve month high of $140.90. The firm has a market cap of $8.97 billion, a price-to-earnings ratio of 186.54 and a beta of 1.30.

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

Jackson Financial Announces Dividend

The business 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. This represents a $3.60 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date is Tuesday, September 15th. Jackson Financial’s dividend payout ratio is presently 507.04%.

Insider Activity at Jackson Financial

In related news, CEO Christopher Raub sold 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 12th. The shares were sold at an average price of $130.69, for a total value of $653,450.00. Following the completion of the sale, the chief executive officer owned 42,160 shares of the company’s stock, valued at $5,509,890.40. This trade represents a 10.60% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Carrie Chelko sold 7,500 shares of the business’s stock in a transaction that occurred on Wednesday, August 5th. The stock was sold at an average price of $134.24, for a total transaction of $1,006,800.00. Following the completion of the transaction, the executive vice president owned 80,914 shares of the company’s stock, valued at $10,861,895.36. This trade represents a 8.48% decrease in their position. The disclosure for this sale is available in the SEC filing. 1.40% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Jackson Financial

Institutional investors have recently made changes to their positions in the stock. Bank of New York Mellon Corp increased its stake in shares of Jackson Financial by 2.8% in the 1st quarter. Bank of New York Mellon Corp now owns 910,853 shares of the company’s stock valued at $96,295,000 after acquiring an additional 24,747 shares during the last quarter. Renaissance Technologies LLC bought a new stake in shares of Jackson Financial in the first quarter worth about $10,836,000. Walleye Capital LLC acquired a new stake in shares of Jackson Financial during the first quarter worth about $1,369,000. Bank of America Corp DE raised its position in shares of Jackson Financial by 17.5% during the first quarter. Bank of America Corp DE now owns 325,222 shares of the company’s stock worth $34,382,000 after purchasing an additional 48,399 shares during the period. Finally, Candriam S.C.A. lifted its holdings in shares of Jackson Financial by 31.5% during the 1st quarter. Candriam S.C.A. now owns 177,950 shares of the company’s stock valued at $18,813,000 after purchasing an additional 42,607 shares in the last quarter. 89.96% of the stock is owned by institutional investors and hedge funds.

Jackson Financial Company Profile

Jackson Financial Inc (NYSE:JXN) is a U.S.-based financial services company focused on providing retirement income solutions. Through its insurance subsidiaries, the company primarily develops and distributes annuity products designed to help individuals accumulate retirement savings and generate income during retirement.

Jackson’s product portfolio includes variable annuities, fixed annuities and registered index-linked annuities. Its offerings are distributed through financial professionals and other intermediary channels, serving individuals and institutions seeking tax-deferred retirement accumulation, income planning and related financial solutions.

Headquartered in Lansing, Michigan, Jackson primarily serves customers in the United States through Jackson National Life Insurance Company and related entities, including Jackson National Life Insurance Company of New York.