Jackson Financial (NYSE:JXN) Price Target Raised to $89.00

Jackson Financial (NYSE:JXN) had its price target lifted by Morgan Stanley from $86.00 to $89.00 in a research report sent to investors on Monday, Benzinga reports. They currently have an equal weight rating on the stock.

Other research analysts have also recently issued research reports about the company. Keefe, Bruyette & Woods boosted their price objective on Jackson Financial from $80.00 to $82.00 and gave the stock a market perform rating in a research report on Wednesday, August 14th. Evercore ISI reduced their price target on shares of Jackson Financial from $75.00 to $73.00 and set an in-line rating for the company in a research report on Wednesday, June 26th. Finally, Jefferies Financial Group increased their price target on shares of Jackson Financial from $73.00 to $80.00 and gave the company a hold rating in a research report on Monday, July 29th. Five equities research analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, Jackson Financial has an average rating of Hold and a consensus price target of $74.20.

Jackson Financial Stock Down 1.1 %

Shares of NYSE:JXN opened at $83.43 on Monday. The stock has a market cap of $6.36 billion, a price-to-earnings ratio of 2.20 and a beta of 1.51. The company has a quick ratio of 0.32, a current ratio of 0.32 and a debt-to-equity ratio of 0.42. Jackson Financial has a 12-month low of $32.93 and a 12-month high of $89.81. The business’s 50 day moving average is $79.02 and its 200 day moving average is $70.04.

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 company had revenue of $2.01 billion for the quarter, compared to analysts’ expectations of $1.71 billion. The firm’s quarterly revenue was up 5.0% on a year-over-year basis. During the same period in the previous year, the firm earned $3.34 EPS. On average, sell-side analysts forecast that Jackson Financial will post 17.33 earnings per share for the current fiscal year.

Jackson Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 19th. Investors of record on Thursday, September 5th will be given a dividend of $0.70 per share. The ex-dividend date of this dividend is Thursday, September 5th. This represents a $2.80 annualized dividend and a yield of 3.36%. Jackson Financial’s payout ratio is currently 7.40%.

Insiders Place Their Bets

In other Jackson Financial news, CFO Don W. Cummings bought 1,445 shares of the business’s stock in a transaction on Wednesday, June 5th. The stock was purchased at an average price of $72.70 per share, for a total transaction of $105,051.50. Following the completion of the transaction, the chief financial officer now directly owns 45,711 shares of the company’s stock, valued at $3,323,189.70. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 1.30% of the company’s stock.

Hedge Funds Weigh In On Jackson Financial

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Hantz Financial Services Inc. bought a new position in Jackson Financial during the second quarter worth about $25,000. EverSource Wealth Advisors LLC lifted its holdings in shares of Jackson Financial by 400.0% in the first quarter. EverSource Wealth Advisors LLC now owns 395 shares of the company’s stock worth $27,000 after buying an additional 316 shares in the last quarter. GAMMA Investing LLC lifted its holdings in shares of Jackson Financial by 47.0% in the first quarter. GAMMA Investing LLC now owns 482 shares of the company’s stock worth $32,000 after buying an additional 154 shares in the last quarter. Daiwa Securities Group Inc. purchased a new stake in shares of Jackson Financial in the fourth quarter worth about $36,000. Finally, Headlands Technologies LLC purchased a new stake in shares of Jackson Financial in the fourth quarter worth about $38,000. Institutional investors own 89.96% of the company’s stock.

About Jackson Financial

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.