Jackson Financial (NYSE:JXN) Price Target Raised to $97.00

Jackson Financial (NYSE:JXN) had its price target increased by Morgan Stanley from $92.00 to $97.00 in a research note released on Monday,Benzinga reports. They currently have an equal weight rating on the stock.

A number of other equities research analysts also recently commented on JXN. Barclays lifted their target price on shares of Jackson Financial from $108.00 to $114.00 and gave the stock an “overweight” rating in a research report on Monday, July 7th. Jefferies Financial Group lifted their target price on shares of Jackson Financial from $88.00 to $95.00 and gave the stock a “hold” rating in a research report on Monday, August 11th. Finally, Keefe, Bruyette & Woods lifted their target price on shares of Jackson Financial from $102.00 to $105.00 and gave the stock a “market perform” rating in a research report on Monday, August 11th. One investment analyst has rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $101.20.

Jackson Financial Price Performance

JXN opened at $96.2960 on Monday. The company’s 50-day simple moving average is $88.39 and its two-hundred day simple moving average is $84.85. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.28 and a current ratio of 0.28. The stock has a market capitalization of $6.71 billion, a P/E ratio of -1,604.67 and a beta of 1.46. Jackson Financial has a 52-week low of $64.70 and a 52-week high of $115.22.

Jackson Financial (NYSE:JXN) last announced its quarterly earnings results on Tuesday, August 5th. The company reported $4.87 EPS for the quarter, topping analysts’ consensus estimates of $4.61 by $0.26. The firm had revenue of ($471.00) million during the quarter, compared to analyst estimates of $1.77 billion. Jackson Financial had a net margin of 1.73% and a return on equity of 14.73%. The business’s revenue for the quarter was down 3.3% on a year-over-year basis. During the same period in the previous year, the business posted $5.32 earnings per share. As a group, analysts predict that Jackson Financial will post 20.55 EPS for the current year.

Jackson Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 25th. Investors of record on Monday, September 15th will be issued a $0.80 dividend. This represents a $3.20 annualized dividend and a yield of 3.3%. The ex-dividend date of this dividend is Monday, September 15th. Jackson Financial’s dividend payout ratio is currently -5,333.33%.

Institutional Investors Weigh In On Jackson Financial

Several hedge funds and other institutional investors have recently added to or reduced their stakes in JXN. Quarry LP purchased a new stake in Jackson Financial in the 4th quarter worth approximately $28,000. Twin Peaks Wealth Advisors LLC purchased a new stake in Jackson Financial in the 2nd quarter worth approximately $30,000. NBC Securities Inc. purchased a new stake in Jackson Financial in the 1st quarter worth approximately $37,000. Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in Jackson Financial by 111.6% during the 2nd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 438 shares of the company’s stock valued at $39,000 after buying an additional 231 shares in the last quarter. Finally, Brooklyn Investment Group grew its holdings in Jackson Financial by 987.0% during the 1st quarter. Brooklyn Investment Group now owns 500 shares of the company’s stock valued at $42,000 after buying an additional 454 shares in the last quarter. 89.96% of the stock is owned by hedge funds and other institutional investors.

About Jackson Financial

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.