Jackson Financial Inc. (NYSE:JXN) Given Consensus Recommendation of “Hold” by Brokerages

Jackson Financial Inc. (NYSE:JXN) has been given a consensus rating of “Hold” by the seven analysts that are covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell rating, four have given a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $109.20.

A number of research analysts have issued reports on the company. Jefferies Financial Group boosted their target price on Jackson Financial from $88.00 to $95.00 and gave the company a “hold” rating in a research note on Monday, August 11th. Keefe, Bruyette & Woods boosted their target price on Jackson Financial from $105.00 to $110.00 and gave the company a “market perform” rating in a research note on Thursday, October 9th. Morgan Stanley boosted their target price on Jackson Financial from $97.00 to $106.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 7th. Zacks Research upgraded Jackson Financial from a “hold” rating to a “strong-buy” rating in a report on Monday, October 13th. Finally, Evercore ISI boosted their price target on Jackson Financial from $100.00 to $110.00 and gave the company an “underperform” rating in a report on Thursday, October 9th.

Institutional Trading of Jackson Financial

A number of institutional investors have recently modified their holdings of the company. Jackson Creek Investment Advisors LLC bought a new stake in shares of Jackson Financial in the third quarter valued at about $2,009,000. Thrivent Financial for Lutherans raised its holdings in Jackson Financial by 10.7% during the third quarter. Thrivent Financial for Lutherans now owns 58,140 shares of the company’s stock worth $5,885,000 after acquiring an additional 5,610 shares in the last quarter. AE Wealth Management LLC bought a new stake in Jackson Financial during the third quarter worth about $254,000. Mirae Asset Global Investments Co. Ltd. bought a new stake in Jackson Financial during the third quarter worth about $793,000. Finally, Federated Hermes Inc. raised its holdings in Jackson Financial by 6.4% during the third quarter. Federated Hermes Inc. now owns 854,435 shares of the company’s stock worth $86,494,000 after acquiring an additional 51,494 shares in the last quarter. 89.96% of the stock is currently owned by institutional investors.

Jackson Financial Stock Up 1.2%

NYSE:JXN opened at $100.79 on Wednesday. Jackson Financial has a 1 year low of $64.70 and a 1 year high of $115.22. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 0.46. The stock has a market cap of $7.02 billion, a price-to-earnings ratio of -1,679.59 and a beta of 1.45. The stock has a 50-day moving average price of $98.87 and a two-hundred day moving average price of $90.55.

Jackson Financial (NYSE:JXN) last posted its earnings results on Wednesday, March 22nd. The company reported $6.26 earnings per share (EPS) for the quarter. Jackson Financial had a return on equity of 14.73% and a net margin of 1.73%.The firm had revenue of ($1,162.00) million during the quarter. As a group, equities analysts expect that Jackson Financial will post 20.55 earnings per share for the current year.

Jackson Financial announced that its Board of Directors has approved a share repurchase plan on Thursday, September 18th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the company to repurchase up to 14.4% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board of directors believes its stock is undervalued.

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.