Jackson Financial (NYSE:JXN) Sets New 12-Month High – Still a Buy?

Shares of Jackson Financial Inc. (NYSE:JXN) hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $100.60 and last traded at $99.65, with a volume of 79602 shares traded. The stock had previously closed at $99.52.

Wall Street Analyst Weigh In

Several research firms have recently commented on JXN. Keefe, Bruyette & Woods raised their price target on Jackson Financial from $80.00 to $82.00 and gave the company a “market perform” rating in a report on Wednesday, August 14th. Jefferies Financial Group boosted their target price on shares of Jackson Financial from $73.00 to $80.00 and gave the stock a “hold” rating in a research report on Monday, July 29th. Evercore ISI reduced their price objective on shares of 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. Barclays upped their target price on shares of Jackson Financial from $109.00 to $111.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 8th. Finally, Morgan Stanley lifted their price target on shares of Jackson Financial from $86.00 to $89.00 and gave the company an “equal weight” rating in a research report on Monday, August 19th. Five analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, Jackson Financial has a consensus rating of “Hold” and an average target price of $80.33.

Jackson Financial Stock Performance

The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.42. The stock’s 50 day moving average is $87.57 and its 200 day moving average is $78.73. The stock has a market capitalization of $7.56 billion, a price-to-earnings ratio of 2.65 and a beta of 1.50.

Jackson Financial (NYSE:JXN) last announced its quarterly 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 during the quarter, compared to analysts’ expectations of $1.71 billion. During the same period last year, the company earned $3.34 EPS. The firm’s revenue for the quarter was up 5.0% on a year-over-year basis. On average, analysts predict that Jackson Financial Inc. will post 18.59 earnings per share for the current year.

Jackson Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, September 19th. Shareholders of record on Thursday, September 5th were given a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 2.83%. The ex-dividend date of this dividend was Thursday, September 5th. Jackson Financial’s payout ratio is 7.40%.

Jackson Financial announced that its board has approved a share repurchase plan on Wednesday, August 7th that authorizes the company to buyback $750.00 million in outstanding shares. This buyback authorization authorizes the company to buy up to 10.8% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s leadership believes its shares are undervalued.

Insider Buying and Selling

In other Jackson Financial news, EVP Carrie Chelko sold 5,500 shares of the company’s stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $91.31, for a total value of $502,205.00. Following the transaction, the executive vice president now directly owns 61,829 shares in the company, valued at approximately $5,645,605.99. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 1.30% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Teachers Retirement System of The State of Kentucky grew its position in Jackson Financial by 11.8% during the fourth quarter. Teachers Retirement System of The State of Kentucky now owns 25,500 shares of the company’s stock valued at $1,305,000 after acquiring an additional 2,700 shares during the period. Virtu Financial LLC purchased a new position in Jackson Financial in the fourth quarter valued at approximately $621,000. Centaurus Financial Inc. purchased a new position in Jackson Financial in the fourth quarter valued at approximately $118,000. Goldman Sachs Group Inc. lifted its position in Jackson Financial by 6.9% during the fourth quarter. Goldman Sachs Group Inc. now owns 1,738,688 shares of the company’s stock valued at $89,021,000 after buying an additional 111,875 shares in the last quarter. Finally, PNC Financial Services Group Inc. grew its stake in Jackson Financial by 110.3% during the fourth quarter. PNC Financial Services Group Inc. now owns 2,156 shares of the company’s stock worth $110,000 after buying an additional 1,131 shares during the period. 89.96% of the stock is currently owned by institutional investors and hedge funds.

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.