Jackson Financial (NYSE:JXN) Stock Price Up 2% Following Analyst Upgrade

Shares of Jackson Financial Inc. (NYSE:JXN) were up 2% during mid-day trading on Wednesday after Evercore ISI raised their price target on the stock from $55.00 to $62.00. Evercore ISI currently has an in-line rating on the stock. Jackson Financial traded as high as $66.29 and last traded at $66.29. Approximately 50,813 shares traded hands during mid-day trading, a decline of 94% from the average daily volume of 826,453 shares. The stock had previously closed at $64.96.

Several other equities research analysts have also issued reports on the stock. Jefferies Financial Group reaffirmed a “hold” rating and issued a $55.00 price objective on shares of Jackson Financial in a research note on Tuesday, January 2nd. Keefe, Bruyette & Woods boosted their target price on shares of Jackson Financial from $68.00 to $75.00 and gave the stock an “outperform” rating in a research report on Wednesday. Morgan Stanley boosted their target price on shares of Jackson Financial from $49.00 to $52.00 and gave the stock an “equal weight” rating in a research report on Friday, March 1st. Finally, The Goldman Sachs Group boosted their target price on shares of Jackson Financial from $39.00 to $47.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 9th. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $58.20.

Insiders Place Their Bets

In related news, Director Derek G. Kirkland acquired 3,500 shares of the business’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 transaction, the director now owns 37,726 shares of the company’s stock, valued at $2,100,206.42. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.70% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in JXN. GAMMA Investing LLC increased its stake in Jackson Financial by 47.0% in the first quarter. GAMMA Investing LLC now owns 482 shares of the company’s stock valued at $32,000 after acquiring an additional 154 shares during the period. Daiwa Securities Group Inc. bought a new stake in Jackson Financial in the fourth quarter valued at about $36,000. Headlands Technologies LLC bought a new stake in Jackson Financial in the fourth quarter valued at about $38,000. NBC Securities Inc. bought a new stake in Jackson Financial in the third quarter valued at about $28,000. Finally, Steward Partners Investment Advisory LLC increased its stake in Jackson Financial by 4,347.8% in the first quarter. Steward Partners Investment Advisory LLC now owns 1,023 shares of the company’s stock valued at $38,000 after acquiring an additional 1,000 shares during the period. Institutional investors and hedge funds own 89.96% of the company’s stock.

Jackson Financial Stock Performance

The firm has a market cap of $5.06 billion, a P/E ratio of 6.66 and a beta of 1.57. The stock’s 50 day moving average is $58.53 and its two-hundred day moving average is $49.90. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.33 and a quick ratio of 0.33.

Jackson Financial (NYSE:JXN) last posted its earnings results on Wednesday, February 21st. The company reported $2.53 earnings per share for the quarter, missing analysts’ consensus estimates of $3.53 by ($1.00). The company had revenue of $1.93 billion for the quarter, compared to analyst estimates of $1.40 billion. The firm’s revenue for the quarter was up 3.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $5.66 earnings per share. As a group, equities analysts predict that Jackson Financial Inc. will post 15.59 EPS for the current year.

Jackson Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 21st. Shareholders of record on Tuesday, March 12th were paid a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 4.28%. This is a boost from Jackson Financial’s previous quarterly dividend of $0.62. The ex-dividend date of this dividend was Monday, March 11th. Jackson Financial’s dividend payout ratio is currently 28.54%.

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.