Jackson Financial Inc. (NYSE:JXN) Given Average Rating of “Hold” by Brokerages

Shares of Jackson Financial Inc. (NYSE:JXN) have earned an average recommendation of “Hold” from the five brokerages that are covering the company, Marketbeat.com reports. Five research analysts have rated the stock with a hold recommendation. The average 12-month price target among brokers that have issued a report on the stock in the last year is $73.20.

Several brokerages recently weighed in on JXN. Keefe, Bruyette & Woods lifted their price objective on Jackson Financial from $80.00 to $82.00 and gave the stock a “market perform” rating in a report on Wednesday, August 14th. Evercore ISI cut their target price on Jackson Financial from $75.00 to $73.00 and set an “in-line” rating for the company in a research note on Wednesday, June 26th. Morgan Stanley raised their target price on Jackson Financial from $82.00 to $84.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 10th. Finally, Jefferies Financial Group lifted their price target on Jackson Financial from $73.00 to $80.00 and gave the company a “hold” rating in a research report on Monday, July 29th.

Insider Activity at Jackson Financial

In other Jackson Financial news, CFO Don W. Cummings bought 1,445 shares of the firm’s stock in a transaction that occurred on Wednesday, June 5th. The stock was bought at an average price of $72.70 per share, for a total transaction of $105,051.50. Following the completion of the acquisition, the chief financial officer now directly owns 45,711 shares in the company, valued at $3,323,189.70. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 1.30% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Jackson Financial

A number of institutional investors have recently modified their holdings of JXN. Norges Bank purchased a new stake in shares of Jackson Financial during the fourth quarter valued at $51,189,000. Acadian Asset Management LLC lifted its holdings in Jackson Financial by 146.3% in the second quarter. Acadian Asset Management LLC now owns 1,219,218 shares of the company’s stock valued at $90,525,000 after acquiring an additional 724,148 shares during the period. Donald Smith & CO. Inc. lifted its holdings in Jackson Financial by 36.5% in the fourth quarter. Donald Smith & CO. Inc. now owns 1,979,189 shares of the company’s stock valued at $101,334,000 after acquiring an additional 528,976 shares during the period. LSV Asset Management lifted its holdings in Jackson Financial by 2,459.7% in the second quarter. LSV Asset Management now owns 439,339 shares of the company’s stock valued at $32,625,000 after acquiring an additional 422,175 shares during the period. Finally, Dimensional Fund Advisors LP lifted its holdings in Jackson Financial by 10.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 4,175,970 shares of the company’s stock valued at $213,813,000 after acquiring an additional 399,665 shares during the period. 89.96% of the stock is owned by hedge funds and other institutional investors.

Jackson Financial Trading Up 2.4 %

Shares of Jackson Financial stock opened at $89.62 on Wednesday. Jackson Financial has a 1 year low of $32.84 and a 1 year high of $89.81. The firm has a market cap of $6.83 billion, a PE ratio of 2.37 and a beta of 1.51. The stock has a fifty day moving average price of $78.25 and a 200-day moving average price of $69.43. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.32 and a quick ratio of 0.32.

Jackson Financial (NYSE:JXN) last announced its earnings results on Wednesday, August 7th. The company reported $5.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.32 by $1.00. The business had revenue of $2.01 billion for the quarter, compared to analysts’ expectations of $1.71 billion. During the same period in the prior year, the business earned $3.34 earnings per share. The company’s revenue for the quarter was up 5.0% compared to the same quarter last year. Equities research analysts anticipate that Jackson Financial will post 17.33 EPS for the current year.

Jackson Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 19th. Shareholders of record on Thursday, September 5th will be given a $0.70 dividend. The ex-dividend date of this dividend is Thursday, September 5th. This represents a $2.80 annualized dividend and a yield of 3.12%. Jackson Financial’s payout ratio is currently 7.40%.

Jackson Financial Company Profile

Jackson Financial Inc, through its subsidiaries, provides suite of annuities to retail investors in the United States. The company operates through three segments: Retail Annuities, Institutional Products, and Closed Life and Annuity Blocks. The Retail Annuities segment offers various retirement income and savings products, including variable, fixed index, fixed, and payout annuities, as well as registered index-linked annuities and lifetime income solutions.