Jackson Financial (NYSE:JXN) Given New $75.00 Price Target at Keefe, Bruyette & Woods

Jackson Financial (NYSE:JXN) had its target price upped by Keefe, Bruyette & Woods from $68.00 to $75.00 in a research report sent to investors on Wednesday morning, Benzinga reports. They currently have an outperform rating on the stock.

Other equities research analysts have also issued research reports about the stock. Morgan Stanley boosted their price target on shares of Jackson Financial from $49.00 to $52.00 and gave the stock an equal weight rating in a report on Friday, March 1st. Jefferies Financial Group reissued a hold rating and issued a $55.00 price target on shares of Jackson Financial in a report on Tuesday, January 2nd. Finally, The Goldman Sachs Group boosted their price target on shares of Jackson Financial from $39.00 to $47.00 and gave the stock a neutral rating in a report on Tuesday, January 9th. Three analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat, the company has an average rating of Hold and a consensus target price of $57.25.

Jackson Financial Stock Performance

JXN opened at $65.59 on Wednesday. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.33 and a quick ratio of 0.33. The firm has a fifty day moving average price of $58.22 and a 200 day moving average price of $49.79. Jackson Financial has a 1 year low of $26.70 and a 1 year high of $68.97. The stock has a market cap of $5.08 billion, a P/E ratio of 6.69 and a beta of 1.57.

Jackson Financial (NYSE:JXN) last posted its earnings results on Wednesday, February 21st. The company reported $2.53 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.53 by ($1.00). The company had revenue of $1.93 billion for the quarter, compared to analysts’ expectations of $1.40 billion. Jackson Financial’s revenue for the quarter was up 3.3% on a year-over-year basis. During the same period in the prior year, the company posted $5.66 EPS. Equities research analysts anticipate that Jackson Financial will post 15.59 earnings per share for the current year.

Jackson Financial Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 21st. Stockholders of record on Tuesday, March 12th were issued a dividend of $0.70 per share. This is a positive change from Jackson Financial’s previous quarterly dividend of $0.62. The ex-dividend date of this dividend was Monday, March 11th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 4.27%. Jackson Financial’s dividend payout ratio is presently 28.54%.

Insider Transactions at Jackson Financial

In other Jackson Financial news, Director Derek G. Kirkland bought 3,500 shares of the company’s stock in a transaction dated Monday, March 4th. The stock was acquired at an average price of $55.67 per share, with a total value of $194,845.00. Following the completion of the acquisition, the director now directly owns 37,726 shares of the company’s stock, valued at $2,100,206.42. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 1.70% of the company’s stock.

Institutional Investors Weigh In On Jackson Financial

A number of hedge funds have recently modified their holdings of JXN. JPMorgan Chase & Co. grew its holdings in shares of Jackson Financial by 0.7% in the first quarter. JPMorgan Chase & Co. now owns 92,635 shares of the company’s stock valued at $4,098,000 after purchasing an additional 662 shares during the period. Raymond James & Associates grew its holdings in shares of Jackson Financial by 19.5% in the first quarter. Raymond James & Associates now owns 34,968 shares of the company’s stock valued at $1,547,000 after purchasing an additional 5,699 shares during the period. Sei Investments Co. purchased a new stake in shares of Jackson Financial in the first quarter valued at about $346,000. Canada Pension Plan Investment Board purchased a new stake in shares of Jackson Financial in the first quarter valued at about $402,000. Finally, Penserra Capital Management LLC purchased a new stake in shares of Jackson Financial in the first quarter valued at about $108,000. 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.