Jackson Financial (NYSE:JXN) Hits New 1-Year High – What’s Next?

Jackson Financial Inc. (NYSE:JXN)’s stock price hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $140.90 and last traded at $138.3510, with a volume of 572492 shares traded. The stock had previously closed at $138.12.

Wall Street Analyst Weigh In

A number of research firms have issued reports on JXN. Evercore set a $135.00 price objective on Jackson Financial in a report on Wednesday, August 5th. Jefferies Financial Group upgraded shares of Jackson Financial from a “hold” rating to a “buy” rating and boosted their target price for the company 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. Weiss Ratings upgraded shares of Jackson Financial from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, August 4th. Finally, Barclays lifted their price target on shares of Jackson Financial from $139.00 to $149.00 and gave the company an “overweight” rating in a research report on Tuesday, August 4th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $133.80.

Jackson Financial Trading Up 0.8%

The stock’s 50 day moving average is $128.12 and its 200-day moving average is $114.92. The company has a market cap of $9.43 billion, a P/E ratio of 194.86 and a beta of 1.30. The company has a current ratio of 0.26, a quick ratio of 0.26 and a debt-to-equity ratio of 0.53.

Jackson Financial (NYSE:JXN) last issued its earnings results on Monday, August 3rd. The company reported $7.30 earnings per share (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 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 Dividend Announcement

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

Insider Activity at Jackson Financial

In related news, EVP Carrie Chelko sold 7,500 shares of the company’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 value of $1,006,800.00. Following the transaction, the executive vice president directly owned 80,914 shares of the company’s stock, valued at approximately $10,861,895.36. This represents a 8.48% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Christopher Raub sold 5,000 shares of the stock in a transaction 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 sale, the chief executive officer owned 42,160 shares in the company, valued at approximately $5,509,890.40. This represents a 10.60% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 1.40% of the company’s stock.

Hedge Funds Weigh In On Jackson Financial

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Allworth Financial LP grew its position in shares of Jackson Financial by 22.7% during the second quarter. Allworth Financial LP now owns 573 shares of the company’s stock worth $59,000 after acquiring an additional 106 shares during the last quarter. Triumph Capital Management raised its position in Jackson Financial by 2.7% in the 4th quarter. Triumph Capital Management now owns 4,110 shares of the company’s stock valued at $438,000 after purchasing an additional 107 shares during the last quarter. CIBC Asset Management Inc boosted its stake in Jackson Financial by 1.7% during the 4th quarter. CIBC Asset Management Inc now owns 6,946 shares of the company’s stock worth $741,000 after purchasing an additional 113 shares during the period. UMB Bank n.a. boosted its stake in Jackson Financial by 41.0% during the 4th quarter. UMB Bank n.a. now owns 392 shares of the company’s stock worth $42,000 after purchasing an additional 114 shares during the period. Finally, Fifth Third Wealth Advisors LLC boosted its stake in Jackson Financial by 5.5% during the 1st quarter. Fifth Third Wealth Advisors LLC now owns 2,405 shares of the company’s stock worth $254,000 after purchasing an additional 126 shares during the period. Institutional investors own 89.96% of the company’s stock.

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.