Keefe, Bruyette & Woods Boosts Jackson Financial (NYSE:JXN) Price Target to $82.00

Jackson Financial (NYSE:JXN) had its price target lifted by Keefe, Bruyette & Woods from $80.00 to $82.00 in a research report report published on Wednesday, Benzinga reports. The firm currently has a market perform rating on the stock.

Other equities analysts have also recently issued reports about the company. Evercore ISI cut their target price on Jackson Financial from $75.00 to $73.00 and set an in-line rating on the stock in a report on Wednesday, June 26th. Morgan Stanley upped their target price on Jackson Financial from $82.00 to $84.00 and gave the company an equal weight rating in a report on Wednesday, July 10th. Finally, Jefferies Financial Group lifted their price target on Jackson Financial from $73.00 to $80.00 and gave the stock a hold rating in a report on Monday, July 29th. Five investment analysts have rated the stock with a hold rating, Based on data from MarketBeat, the company has an average rating of Hold and a consensus price target of $73.20.

Jackson Financial Trading Up 2.4 %

Shares of JXN stock opened at $89.60 on Wednesday. The company has a market cap of $6.83 billion, a P/E ratio of 2.37 and a beta of 1.51. Jackson Financial has a fifty-two week low of $32.84 and a fifty-two week high of $89.81. The stock has a 50 day simple moving average of $78.25 and a two-hundred day simple moving average of $69.17. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.32 and a current ratio of 0.32.

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

Jackson Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 19th. Stockholders of record on Thursday, September 5th will be issued a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.13%. The ex-dividend date of this dividend is Thursday, September 5th. Jackson Financial’s payout ratio is currently 7.40%.

Insider Activity

In related news, CFO Don W. Cummings acquired 1,445 shares of the company’s stock in a transaction that occurred on Wednesday, June 5th. The shares were acquired at an average price of $72.70 per share, with a total value of $105,051.50. Following the acquisition, the chief financial officer now owns 45,711 shares of the company’s stock, valued at approximately $3,323,189.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.30% of the stock is owned by company insiders.

Hedge Funds Weigh In On Jackson Financial

Hedge funds have recently bought and sold shares of the company. Assetmark Inc. purchased a new position in shares of Jackson Financial during the 4th quarter valued at $2,270,000. Cetera Investment Advisers bought a new stake in shares of Jackson Financial during the 1st quarter valued at about $3,812,000. FORA Capital LLC grew its holdings in shares of Jackson Financial by 399.7% during the first quarter. FORA Capital LLC now owns 27,894 shares of the company’s stock worth $1,845,000 after purchasing an additional 22,312 shares in the last quarter. O Shaughnessy Asset Management LLC raised its stake in Jackson Financial by 32.1% in the first quarter. O Shaughnessy Asset Management LLC now owns 61,139 shares of the company’s stock valued at $4,044,000 after purchasing an additional 14,848 shares in the last quarter. Finally, B. Riley Wealth Advisors Inc. lifted its position in Jackson Financial by 16.5% during the first quarter. B. Riley Wealth Advisors Inc. now owns 41,031 shares of the company’s stock valued at $2,714,000 after purchasing an additional 5,819 shares during the last quarter. Hedge funds and other institutional investors own 89.96% of the company’s stock.

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.