Jackson Financial Inc. (NYSE:JXN) Receives $115.80 Average PT from Brokerages

Shares of Jackson Financial Inc. (NYSE:JXN) have been given an average rating of “Hold” by the seven ratings firms that are currently covering the firm, Marketbeat Ratings reports. Five equities research analysts have rated the stock with a hold recommendation, one has given a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $115.80.

A number of brokerages have commented on JXN. Weiss Ratings downgraded shares of Jackson Financial from a “hold (c)” rating to a “hold (c-)” rating in a research note on Tuesday, May 12th. Wall Street Zen downgraded shares of Jackson Financial from a “buy” rating to a “hold” rating in a research note on Saturday, April 11th. Barclays dropped their target price on shares of Jackson Financial from $138.00 to $136.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 8th. Finally, Keefe, Bruyette & Woods upped their target price on shares of Jackson Financial from $120.00 to $125.00 and gave the stock a “market perform” rating in a research note on Wednesday, May 13th.

Institutional Investors Weigh In On Jackson Financial

Several hedge funds have recently modified their holdings of the business. Sound Income Strategies LLC lifted its position in shares of Jackson Financial by 25.5% in the 4th quarter. Sound Income Strategies LLC now owns 483 shares of the company’s stock worth $55,000 after purchasing an additional 98 shares during the period. Wetzel Investment Advisors Inc. lifted its position in shares of Jackson Financial by 4.5% in the 4th quarter. Wetzel Investment Advisors Inc. now owns 2,300 shares of the company’s stock worth $245,000 after purchasing an additional 100 shares during the period. Seeds Investor LLC lifted its position in shares of Jackson Financial by 4.5% in the 4th quarter. Seeds Investor LLC now owns 2,373 shares of the company’s stock worth $253,000 after purchasing an additional 102 shares during the period. Triumph Capital Management lifted its position in shares of Jackson Financial by 2.7% in the 4th quarter. Triumph Capital Management now owns 4,110 shares of the company’s stock worth $438,000 after purchasing an additional 107 shares during the period. Finally, CIBC Asset Management Inc lifted its position in shares of Jackson Financial by 1.7% in the 4th quarter. CIBC Asset Management Inc now owns 6,946 shares of the company’s stock worth $741,000 after purchasing an additional 113 shares during the period. Hedge funds and other institutional investors own 89.96% of the company’s stock.

Jackson Financial Price Performance

Shares of JXN stock opened at $102.93 on Friday. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.27 and a quick ratio of 0.27. The company has a market capitalization of $7.18 billion, a P/E ratio of -16.85 and a beta of 1.39. The company’s 50-day simple moving average is $107.85 and its two-hundred day simple moving average is $107.87. Jackson Financial has a one year low of $80.25 and a one year high of $123.61.

Jackson Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 25th. Stockholders of record on Thursday, June 11th will be given a $0.90 dividend. This represents a $3.60 annualized dividend and a dividend yield of 3.5%. The ex-dividend date of this dividend is Thursday, June 11th. Jackson Financial’s dividend payout ratio is presently -58.92%.

About Jackson Financial

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.