Jackson Financial (NYSE:JXN) Cut to “Underperform” at Evercore ISI

Jackson Financial (NYSE:JXN) was downgraded by stock analysts at Evercore ISI from an “in-line” rating to an “underperform” rating in a research note issued on Thursday,Briefing.com Automated Import reports. They currently have a $95.00 target price on the stock, up from their prior target price of $74.00. Evercore ISI’s price objective would suggest a potential downside of 12.12% from the stock’s previous close.

Several other research firms also recently weighed in on JXN. Barclays upped their price target 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. Morgan Stanley upped their price target on shares of Jackson Financial from $86.00 to $89.00 and gave the stock an “equal weight” rating in a research report on Monday, August 19th. Keefe, Bruyette & Woods upped their price target on shares of Jackson Financial from $80.00 to $82.00 and gave the stock a “market perform” rating in a research report on Wednesday, August 14th. Finally, Jefferies Financial Group upped their price target 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. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company. According to MarketBeat, Jackson Financial presently has a consensus rating of “Hold” and an average price target of $84.00.

Jackson Financial Trading Down 1.7 %

Shares of Jackson Financial stock opened at $108.10 on Thursday. The firm has a 50-day simple moving average of $95.43 and a two-hundred day simple moving average of $84.24. The company has a market cap of $8.13 billion, a P/E ratio of -8.55 and a beta of 1.48. Jackson Financial has a fifty-two week low of $44.04 and a fifty-two week high of $115.22. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.30 and a current ratio of 0.30.

Jackson Financial (NYSE:JXN) last issued its quarterly earnings data on Wednesday, November 6th. The company reported $4.60 earnings per share for the quarter, missing analysts’ consensus estimates of $4.67 by ($0.07). The business had revenue of $2.12 billion for the quarter, compared to analyst estimates of $1.73 billion. During the same period in the prior year, the business posted $3.80 EPS. As a group, equities analysts predict that Jackson Financial will post 18.8 earnings per share for the current fiscal year.

Jackson Financial announced that its board has authorized a stock repurchase plan on Wednesday, August 7th that permits the company to repurchase $750.00 million in shares. This repurchase authorization permits the company to reacquire up to 10.8% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.

Insider Activity

In other news, EVP Carrie Chelko sold 5,500 shares of the stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $91.31, for a total value of $502,205.00. Following the completion of the sale, the executive vice president now owns 61,829 shares of the company’s stock, valued at $5,645,605.99. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 1.30% of the company’s stock.

Institutional Trading of Jackson Financial

Hedge funds have recently made changes to their positions in the company. International Assets Investment Management LLC boosted its position in shares of Jackson Financial by 9,363.9% during the 3rd quarter. International Assets Investment Management LLC now owns 942,039 shares of the company’s stock worth $85,942,000 after purchasing an additional 932,085 shares during the period. Acadian Asset Management LLC boosted its position in shares of Jackson Financial by 146.3% during the 2nd quarter. Acadian Asset Management LLC now owns 1,219,218 shares of the company’s stock worth $90,525,000 after purchasing an additional 724,148 shares during the period. Wedge Capital Management L L P NC purchased a new position in shares of Jackson Financial during the 3rd quarter worth approximately $40,795,000. LSV Asset Management lifted its holdings in Jackson Financial by 2,459.7% during the 2nd quarter. LSV Asset Management now owns 439,339 shares of the company’s stock worth $32,625,000 after buying an additional 422,175 shares in the last quarter. Finally, Donald Smith & CO. Inc. lifted its holdings in Jackson Financial by 20.1% during the 1st quarter. Donald Smith & CO. Inc. now owns 2,376,476 shares of the company’s stock worth $157,180,000 after buying an additional 397,287 shares in the last quarter. Hedge funds and other 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.