Jackson Financial (NYSE:JXN) Upgraded to Hold at Evercore ISI

Evercore ISI upgraded shares of Jackson Financial (NYSE:JXN) from a strong sell rating to a hold rating in a research note issued to investors on Tuesday, MarketBeat reports. They currently have $118.00 price objective on the stock.

A number of other analysts have also recently weighed in on the company. Weiss Ratings reissued a “hold (c+)” rating on shares of Jackson Financial in a research report on Monday, December 29th. Zacks Research upgraded Jackson Financial from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 13th. Keefe, Bruyette & Woods raised their price target on Jackson Financial from $105.00 to $110.00 and gave the stock a “market perform” rating in a report on Thursday, October 9th. Morgan Stanley set a $105.00 price target on Jackson Financial in a research note on Monday, December 15th. Finally, Barclays upped their price objective on shares of Jackson Financial from $125.00 to $128.00 and gave the company an “overweight” rating in a report on Wednesday, November 5th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, Jackson Financial has an average rating of “Hold” and an average target price of $111.20.

Jackson Financial Stock Up 3.4%

Shares of Jackson Financial stock opened at $113.40 on Tuesday. The company has a quick ratio of 0.27, a current ratio of 0.27 and a debt-to-equity ratio of 0.47. The company has a market cap of $7.71 billion, a P/E ratio of 15.68 and a beta of 1.44. The firm’s 50 day moving average price is $100.64 and its 200-day moving average price is $96.48. Jackson Financial has a 52-week low of $64.70 and a 52-week high of $117.13.

Jackson Financial (NYSE:JXN) last posted its earnings results on Wednesday, March 22nd. The company reported $6.26 EPS for the quarter. The firm had revenue of ($1,162.00) million for the quarter. On average, sell-side analysts predict that Jackson Financial will post 20.55 EPS for the current fiscal year.

Jackson Financial declared that its Board of Directors has initiated a stock repurchase program on Thursday, September 18th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the company to repurchase up to 14.4% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.

Jackson Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 18th. Stockholders of record on Thursday, December 4th were paid a $0.80 dividend. This represents a $3.20 annualized dividend and a dividend yield of 2.8%. The ex-dividend date was Thursday, December 4th. Jackson Financial’s dividend payout ratio (DPR) is presently 44.26%.

Hedge Funds Weigh In On Jackson Financial

Hedge funds and other institutional investors have recently bought and sold shares of the business. Allworth Financial LP lifted its stake in Jackson Financial by 404.0% during the 3rd quarter. Allworth Financial LP now owns 252 shares of the company’s stock valued at $26,000 after acquiring an additional 202 shares during the period. Cullen Frost Bankers Inc. purchased a new position in shares of Jackson Financial during the third quarter worth $28,000. Twin Peaks Wealth Advisors LLC purchased a new position in shares of Jackson Financial during the second quarter worth $30,000. Optiver Holding B.V. lifted its position in Jackson Financial by 469.2% during the third quarter. Optiver Holding B.V. now owns 296 shares of the company’s stock valued at $30,000 after purchasing an additional 244 shares during the period. Finally, Bayforest Capital Ltd boosted its holdings in Jackson Financial by 541.2% in the third quarter. Bayforest Capital Ltd now owns 327 shares of the company’s stock valued at $33,000 after purchasing an additional 276 shares during the last quarter. Institutional investors and hedge funds own 89.96% of the company’s stock.

Jackson Financial Company Profile

Jackson Financial Inc is a U.S.-based financial services holding company headquartered in Lansing, Michigan. The company operates primarily through its principal subsidiary, Jackson National Life Insurance Company, and specializes in designing and distributing retirement products. Jackson Financial has been publicly traded on the New York Stock Exchange under the ticker JXN since its initial public offering in May 2022.

The company’s core offerings include a broad range of fixed, variable and indexed annuity products aimed at helping individuals preserve and grow retirement assets.