Jackson Financial (NYSE:JXN) Sets New 1-Year High – Here’s What Happened

Jackson Financial Inc. (NYSE:JXN)’s share price reached a new 52-week high during trading on Tuesday . The stock traded as high as $140.88 and last traded at $138.0420, with a volume of 748381 shares trading hands. The stock had previously closed at $140.63.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on JXN shares. Evercore set a $135.00 target price on Jackson Financial in a research report on Wednesday, August 5th. Keefe, Bruyette & Woods boosted their price target on Jackson Financial from $130.00 to $140.00 and gave the stock a “market perform” rating in a report on Wednesday, August 5th. Jefferies Financial Group raised Jackson Financial from a “hold” rating to a “buy” rating and lifted their target price for the stock from $120.00 to $140.00 in a report on Friday, July 10th. Wall Street Zen raised shares of Jackson Financial from a “hold” rating to a “buy” rating in a research report on Saturday, August 8th. Finally, Barclays increased their target price on shares of Jackson Financial from $139.00 to $149.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 4th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $133.80.

Jackson Financial Trading Down 0.9%

The firm has a fifty day moving average of $125.40 and a two-hundred day moving average of $114.25. The company has a current ratio of 0.26, a quick ratio of 0.26 and a debt-to-equity ratio of 0.53. The company has a market cap of $9.44 billion, a PE ratio of 194.40 and a beta of 1.30.

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

Jackson Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 24th. Investors of record on Tuesday, September 15th will be paid a $0.90 dividend. This represents a $3.60 annualized dividend and a dividend yield of 2.6%. The ex-dividend date of this dividend is Tuesday, September 15th. Jackson Financial’s payout ratio is presently 507.04%.

Insider Buying and Selling

In other Jackson Financial news, CEO Christopher Raub sold 5,000 shares of the business’s stock in a transaction on Wednesday, August 12th. The shares were sold at an average price of $130.69, for a total transaction of $653,450.00. Following the transaction, the chief executive officer directly owned 42,160 shares of the company’s stock, valued at approximately $5,509,890.40. The trade was a 10.60% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Carrie Chelko sold 7,500 shares of the firm’s stock in a transaction dated 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 sale, 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 ownership of the stock. The disclosure for this sale is available in the SEC filing. 1.40% of the stock is currently owned by company insiders.

Institutional Trading of Jackson Financial

Large investors have recently made changes to their positions in the stock. Allworth Financial LP raised its stake in Jackson Financial by 404.0% during the 3rd quarter. Allworth Financial LP now owns 252 shares of the company’s stock valued at $26,000 after buying an additional 202 shares during the last quarter. Rothschild Investment LLC increased its holdings 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 acquiring an additional 143 shares in the last quarter. Plato Investment Management Ltd bought a new stake in shares of Jackson Financial during the 4th quarter valued at $35,000. Advisory Services Network LLC purchased a new position in shares of Jackson Financial in the third quarter valued at about $37,000. Finally, Signature Equity Partners LLC bought a new position in Jackson Financial in the 1st quarter worth approximately $38,000. 89.96% of the stock is currently owned by institutional investors.

About Jackson Financial

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.