Jackson Financial (NYSE:JXN) Reaches New 1-Year High at $69.20

Shares of Jackson Financial Inc. (NYSE:JXN) hit a new 52-week high during trading on Tuesday . The company traded as high as $69.20 and last traded at $69.20, with a volume of 422303 shares traded. The stock had previously closed at $67.05.

Analysts Set New Price Targets

A number of equities analysts have commented on JXN shares. Evercore ISI upped their target price on shares of Jackson Financial from $55.00 to $62.00 and gave the stock an “in-line” rating in a research note on Thursday, April 11th. Morgan Stanley upped their price target on shares of Jackson Financial from $52.00 to $70.00 and gave the stock an “equal weight” rating in a research report on Monday, April 15th. Keefe, Bruyette & Woods upped their price target on shares of Jackson Financial from $68.00 to $75.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 10th. The Goldman Sachs Group upped their price target on shares of Jackson Financial from $39.00 to $47.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 9th. Finally, Jefferies Financial Group reaffirmed a “hold” rating and issued a $55.00 price target on shares of Jackson Financial in a research report on Tuesday, January 2nd. Four analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $61.80.

Jackson Financial Price Performance

The stock’s 50-day moving average is $61.54 and its 200 day moving average is $51.88. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.33 and a quick ratio of 0.33. The company has a market cap of $5.39 billion, a PE ratio of 7.09 and a beta of 1.57.

Jackson Financial (NYSE:JXN) last posted its earnings results on Wednesday, February 21st. The company reported $2.53 EPS for the quarter, missing analysts’ consensus estimates of $3.53 by ($1.00). The company had revenue of $1.93 billion for the quarter, compared to the consensus estimate of $1.40 billion. During the same period last year, the firm earned $5.66 earnings per share. The firm’s revenue was up 3.3% compared to the same quarter last year. On average, equities analysts anticipate that Jackson Financial Inc. will post 15.95 earnings per share for the current fiscal year.

Jackson Financial Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 21st. Shareholders of record on Tuesday, March 12th were paid a dividend of $0.70 per share. This is a positive change from Jackson Financial’s previous quarterly dividend of $0.62. The ex-dividend date of this dividend was Monday, March 11th. This represents a $2.80 dividend on an annualized basis and a yield of 4.02%. Jackson Financial’s dividend payout ratio is presently 28.54%.

Insider Buying and Selling at Jackson Financial

In related news, Director Derek G. Kirkland purchased 3,500 shares of the business’s stock in a transaction on Monday, March 4th. The shares were acquired at an average price of $55.67 per share, for a total transaction of $194,845.00. Following the purchase, the director now owns 37,726 shares of the company’s stock, valued at approximately $2,100,206.42. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.70% of the stock is currently owned by company insiders.

Institutional Trading of Jackson Financial

A number of hedge funds and other institutional investors have recently made changes to their positions in JXN. Hsbc Holdings PLC increased its stake in shares of Jackson Financial by 45,699.9% in the third quarter. Hsbc Holdings PLC now owns 3,241,261 shares of the company’s stock worth $124,043,000 after acquiring an additional 3,234,184 shares during the period. Vanguard Group Inc. grew its position in Jackson Financial by 16.1% during the third quarter. Vanguard Group Inc. now owns 10,933,228 shares of the company’s stock valued at $417,868,000 after buying an additional 1,518,547 shares during the period. Norges Bank acquired a new stake in Jackson Financial during the fourth quarter valued at $51,189,000. Donald Smith & CO. Inc. grew its position in Jackson Financial by 36.5% during the fourth quarter. Donald Smith & CO. Inc. now owns 1,979,189 shares of the company’s stock valued at $101,334,000 after buying an additional 528,976 shares during the period. Finally, Jupiter Asset Management Ltd. acquired a new stake in Jackson Financial during the third quarter valued at $19,485,000. Institutional investors and hedge funds own 89.96% of the company’s stock.

Jackson Financial Company Profile

Jackson Financial Inc, through its subsidiaries, provides suite of annuities to retail investors in the United States. The company operates through three segments: Retail Annuities, Institutional Products, and Closed Life and Annuity Blocks. The Retail Annuities segment offers various retirement income and savings products, including variable, fixed index, fixed, and payout annuities, as well as registered index-linked annuities and lifetime income solutions.