Jackson Financial Inc. (NYSE:JXN) Stock Now Rated “Hold” by Sell-Side Brokerages

Jackson Financial Inc. (NYSE:JXN) has been assigned a consensus recommendation of “Hold” from the six ratings firms that are currently covering the firm, MarketBeat Ratings reports. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 12 month price objective among analysts that have covered the stock in the last year is $134.20.

Several analysts have recently commented on the company. Jefferies Financial Group upgraded Jackson Financial from a “hold” rating to a “buy” rating and raised their target price for the company from $120.00 to $140.00 in a research note on Friday, July 10th. Barclays set a $151.00 price objective on Jackson Financial in a report on Thursday, October 8th. Evercore set a $135.00 target price on Jackson Financial in a research report on Wednesday, August 5th. Weiss Ratings upgraded Jackson Financial from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday, August 4th. Finally, Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $140.00 price target on shares of Jackson Financial in a research report on Friday, September 18th.

Jackson Financial Trading Up 1.8%

Shares of JXN stock opened at $134.99 on Wednesday. The stock has a 50-day moving average of $132.88 and a 200-day moving average of $117.78. The stock has a market cap of $9.14 billion, a price-to-earnings ratio of 190.13 and a beta of 1.31. Jackson Financial has a 1-year low of $89.67 and a 1-year high of $140.90.

Jackson Financial (NYSE:JXN) last announced its earnings results on Monday, August 3rd. The company reported $7.30 earnings per share for the quarter, topping analysts’ consensus estimates of $5.72 by $1.58. The firm had revenue of $2 billion for the quarter, compared to the consensus estimate of $1.91 billion.

Jackson Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 24th. Shareholders of record on Tuesday, September 15th were issued a dividend of $0.90 per share. The ex-dividend date was Tuesday, September 15th. This represents a $3.60 annualized dividend and a yield of 2.7%. Jackson Financial’s dividend payout ratio is presently 507.04%.

Insiders Place Their Bets

In other news, CEO Christopher Raub sold 5,000 shares of the business’s stock in a transaction dated Wednesday, August 12th. The shares were sold at an average price of $130.69, for a total transaction of $653,450.00. Following the completion of the sale, the chief executive officer directly owned 42,160 shares of the company’s stock, valued at $5,509,890.40. The trade was a 10.60% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Carrie Chelko sold 7,500 shares of the company’s stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $134.24, for a total transaction of $1,006,800.00. Following the completion of the sale, the executive vice president owned 80,914 shares in the company, valued at $10,861,895.36. This represents a 8.48% decrease in their position. The disclosure for this sale is available in the SEC filing. 1.40% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Jackson Financial

Several large investors have recently added to or reduced their stakes in JXN. Dimensional Fund Advisors LP boosted its stake in Jackson Financial by 0.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 4,060,350 shares of the company’s stock valued at $429,240,000 after purchasing an additional 18,740 shares during the last quarter. Donald Smith & CO. Inc. purchased a new position in shares of Jackson Financial during the second quarter valued at approximately $183,186,000. Hsbc Holdings PLC boosted its position in shares of Jackson Financial by 16.5% during the fourth quarter. Hsbc Holdings PLC now owns 1,550,942 shares of the company’s stock valued at $166,476,000 after buying an additional 220,095 shares during the last quarter. Bank of New York Mellon Corp boosted its position in shares of Jackson Financial by 2.8% during the first quarter. Bank of New York Mellon Corp now owns 910,853 shares of the company’s stock valued at $96,295,000 after buying an additional 24,747 shares during the last quarter. Finally, Janus Henderson Group PLC grew its holdings in Jackson Financial by 31.6% during the first quarter. Janus Henderson Group PLC now owns 484,713 shares of the company’s stock worth $51,290,000 after buying an additional 116,436 shares in the last quarter. Institutional investors own 89.96% of the company’s stock.

About Jackson Financial

Jackson Financial Inc is a U.S.-based financial services company focused on helping individuals and institutions pursue retirement security. Through its operating subsidiaries, the company develops and distributes annuity products designed to provide income, investment growth opportunities and protection against certain retirement-related risks.

Jackson’s offerings include variable annuities, fixed annuities and fixed-indexed annuities, along with related retirement planning solutions.