Jackson Financial’s (JXN) Hold Rating Reiterated at Keefe, Bruyette & Woods

Keefe, Bruyette & Woods reaffirmed their hold rating on shares of Jackson Financial (NYSE:JXN) in a research report report published on Thursday, Marketbeat Ratings reports. The brokerage currently has a $123.00 price objective on the stock.

Other equities analysts have also issued research reports about the company. Barclays reissued an “overweight” rating and issued a $137.00 price objective on shares of Jackson Financial in a research note on Thursday, January 8th. Wall Street Zen raised Jackson Financial from a “hold” rating to a “buy” rating in a report on Saturday, February 28th. Morgan Stanley set a $105.00 price target on shares of Jackson Financial in a research report on Monday, December 15th. Weiss Ratings reissued a “hold (c+)” rating on shares of Jackson Financial in a report on Monday, December 29th. Finally, Evercore set a $118.00 price objective on shares of Jackson Financial and gave the company an “in-line” rating in a research report on Tuesday, January 6th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $115.60.

Jackson Financial Price Performance

Jackson Financial stock opened at $101.28 on Thursday. The business has a 50 day simple moving average of $111.80 and a 200 day simple moving average of $104.99. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.27 and a quick ratio of 0.27. The company has a market capitalization of $7.16 billion, a PE ratio of -289.37 and a beta of 1.46. Jackson Financial has a one year low of $64.70 and a one year high of $123.61.

Jackson Financial (NYSE:JXN) last announced its earnings results on Wednesday, February 18th. The company reported $6.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.90 by $0.71. The firm had revenue of $1.94 billion for the quarter, compared to analyst estimates of $1.92 billion. The company’s revenue for the quarter was down 2.8% compared to the same quarter last year. During the same quarter last year, the business earned $4.65 EPS. On average, sell-side analysts forecast that Jackson Financial will post 20.55 EPS for the current fiscal year.

Jackson Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 26th. Investors of record on Monday, March 16th were given a $0.90 dividend. The ex-dividend date was Monday, March 16th. This is a positive change from Jackson Financial’s previous quarterly dividend of $0.80. This represents a $3.60 dividend on an annualized basis and a yield of 3.6%. Jackson Financial’s dividend payout ratio is -1,028.57%.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of JXN. Jackson Creek Investment Advisors LLC acquired a new position in Jackson Financial in the third quarter valued at about $2,009,000. Victory Capital Management Inc. boosted its holdings in Jackson Financial by 12.2% during the third quarter. Victory Capital Management Inc. now owns 601,151 shares of the company’s stock worth $60,855,000 after buying an additional 65,202 shares during the last quarter. Kingsview Wealth Management LLC acquired a new position in shares of Jackson Financial during the 3rd quarter worth about $3,373,000. JPMorgan Chase & Co. grew its position in shares of Jackson Financial by 27.5% during the 2nd quarter. JPMorgan Chase & Co. now owns 662,569 shares of the company’s stock worth $58,830,000 after buying an additional 143,091 shares during the period. Finally, Donald Smith & CO. Inc. increased its stake in shares of Jackson Financial by 2.0% in the 2nd quarter. Donald Smith & CO. Inc. now owns 1,699,087 shares of the company’s stock valued at $150,862,000 after acquiring an additional 33,040 shares during the last quarter. Institutional investors 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.