Jackson Financial (NYSE:JXN) Price Target Raised to $154.00

Jackson Financial (NYSE:JXN) had its target price hoisted by Barclays from $151.00 to $154.00 in a research report released on Wednesday morning,Benzinga reports. They currently have an overweight rating on the stock.

Several other research analysts have also recently issued reports on JXN. Evercore set a $135.00 target price on shares of Jackson Financial in a report on Wednesday, August 5th. Keefe, Bruyette & Woods reissued a “market perform” rating and set a $140.00 price target on shares of Jackson Financial in a research report on Friday, September 18th. Weiss Ratings reissued a “hold (c)” rating on shares of Jackson Financial in a report on Monday. Jefferies Financial Group upgraded shares of Jackson Financial from a “hold” rating to a “buy” rating and boosted their price objective for the company from $120.00 to $140.00 in a research report on Friday, July 10th. Finally, Wall Street Zen raised shares of Jackson Financial from a “hold” rating to a “buy” rating in a research note on Saturday, August 8th. Two analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $134.80.

Jackson Financial Trading Down 1.2%

Shares of NYSE JXN traded down $1.60 during midday trading on Wednesday, reaching $131.13. The company had a trading volume of 697,111 shares, compared to its average volume of 769,019. The stock has a market cap of $8.88 billion, a PE ratio of 10.78 and a beta of 1.34. Jackson Financial has a one year low of $89.67 and a one year high of $150.00. The firm’s fifty day moving average price is $133.45 and its 200-day moving average price is $118.64. The company has a quick ratio of 0.26, a current ratio of 0.26 and a debt-to-equity ratio of 0.53.

Jackson Financial (NYSE:JXN) last posted its quarterly earnings results on Tuesday, November 3rd. The company reported $7.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $7.24 by $0.31. The business had revenue of $2.07 billion for the quarter, compared to analyst estimates of $2.07 billion. Jackson Financial had a return on equity of 18.93% and a net margin of 1.59%.

Jackson Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 17th. Investors of record on Thursday, December 3rd will be paid a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date of this dividend is Thursday, December 3rd. Jackson Financial’s dividend payout ratio is presently 29.61%.

Insider Activity

In related 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 sale, the chief executive officer 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. 1.40% of the stock is currently owned by insiders.

Institutional Trading of Jackson Financial

Hedge funds have recently made changes to their positions in the stock. Bank of New York Mellon Corp boosted its holdings in Jackson Financial by 2.8% in the first quarter. Bank of New York Mellon Corp now owns 910,853 shares of the company’s stock worth $96,295,000 after acquiring an additional 24,747 shares in the last quarter. Squarepoint Ops LLC increased its holdings in shares of Jackson Financial by 96.6% during the second quarter. Squarepoint Ops LLC now owns 166,794 shares of the company’s stock valued at $17,078,000 after acquiring an additional 81,970 shares in the last quarter. William John Sempolinski bought a new position in shares of Jackson Financial during the second quarter valued at $2,222,000. Renaissance Technologies LLC purchased a new position in shares of Jackson Financial in the 1st quarter worth about $10,836,000. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in shares of Jackson Financial in the 2nd quarter worth about $3,895,000. 89.96% of the stock is owned by institutional investors.

Jackson Financial Company Profile

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.