Jackson Financial (NYSE:JXN) Raised to “Buy” at Zacks Investment Research

Zacks Investment Research upgraded shares of Jackson Financial (NYSE:JXN) from a sell rating to a buy rating in a research report released on Wednesday, Zacks.com reports. The firm currently has $51.00 target price on the stock.

According to Zacks, “Jackson Financial Inc. is a U.S. retirement services provider with supported by its diverse portfolio of differentiated products. Jackson(R) is the marketing name for Jackson Financial Inc., Jackson National Life Insurance Company(R) and Jackson National Life Insurance Company of New York(R). Jackson Financial Inc. is based in LANSING, Mich. “

A number of other equities research analysts have also recently issued reports on the stock. Morgan Stanley upped their price target on shares of Jackson Financial from $38.00 to $40.00 and gave the company an equal weight rating in a report on Friday, January 7th. Keefe, Bruyette & Woods assumed coverage on shares of Jackson Financial in a report on Sunday, September 26th. They set a market perform rating and a $30.00 price target for the company. Finally, The Goldman Sachs Group assumed coverage on shares of Jackson Financial in a report on Thursday, December 2nd. They set a neutral rating and a $40.00 price target for the company. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, Jackson Financial currently has a consensus rating of Hold and an average target price of $39.00.

Shares of NYSE:JXN opened at $44.04 on Wednesday. Jackson Financial has a 1 year low of $24.03 and a 1 year high of $47.76. The stock has a fifty day simple moving average of $37.84. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.33 and a quick ratio of 0.33.

Jackson Financial (NYSE:JXN) last issued its quarterly earnings data on Tuesday, November 9th. The company reported $5.16 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $5.00 by $0.16. The business had revenue of $1.49 billion during the quarter. As a group, equities analysts anticipate that Jackson Financial will post 22.92 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 9th. Stockholders of record on Friday, November 19th were given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.54%. The ex-dividend date of this dividend was Thursday, November 18th.

In related news, Director Derek G. Kirkland acquired 6,500 shares of the business’s stock in a transaction dated Tuesday, December 14th. The stock was acquired at an average price of $38.14 per share, with a total value of $247,910.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Paul Chadwick Myers purchased 38,500 shares of the company’s stock in a transaction that occurred on Friday, November 12th. The stock was acquired at an average cost of $32.95 per share, with a total value of $1,268,575.00. The disclosure for this purchase can be found here.

Large investors have recently bought and sold shares of the stock. Strs Ohio acquired a new position in Jackson Financial in the third quarter worth about $36,000. Sumitomo Life Insurance Co. acquired a new position in Jackson Financial in the third quarter worth about $47,000. NN Investment Partners Holdings N.V. acquired a new position in Jackson Financial in the third quarter worth about $49,000. Metropolitan Life Insurance Co NY acquired a new stake in shares of Jackson Financial during the third quarter worth approximately $58,000. Finally, Shell Asset Management Co. acquired a new stake in shares of Jackson Financial during the third quarter worth approximately $68,000. 65.63% of the stock is owned by hedge funds and other institutional investors.

About Jackson Financial

Jackson Financial Inc is a U.S. retirement services provider with supported by its diverse portfolio of differentiated products. Jackson(R) is the marketing name for Jackson Financial Inc, Jackson National Life Insurance Company(R) and Jackson National Life Insurance Company of New York(R). Jackson Financial Inc is based in LANSING, Mich.

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