Evercore ISI Raises Jackson Financial (NYSE:JXN) Price Target to $62.00

Jackson Financial (NYSE:JXN) had its target price hoisted by Evercore ISI from $55.00 to $62.00 in a research report sent to investors on Thursday, Benzinga reports. They currently have an in-line rating on the stock.

A number of other research analysts have also recently weighed in on the stock. Jefferies Financial Group reaffirmed a hold rating and set a $55.00 price target on shares of Jackson Financial in a research report on Tuesday, January 2nd. The Goldman Sachs Group lifted their price target on shares of Jackson Financial from $39.00 to $47.00 and gave the company a neutral rating in a research report on Tuesday, January 9th. Keefe, Bruyette & Woods lifted their price target on shares of Jackson Financial from $68.00 to $75.00 and gave the company an outperform rating in a research report on Wednesday. Finally, 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. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of Hold and a consensus price target of $58.20.

Jackson Financial Price Performance

Jackson Financial stock opened at $63.38 on Thursday. Jackson Financial has a 1 year low of $26.70 and a 1 year high of $68.97. The firm has a 50 day moving average price of $58.82 and a 200 day moving average price of $50.16. The company has a market cap of $4.91 billion, a price-to-earnings ratio of 6.46 and a beta of 1.57. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.33 and a current ratio of 0.33.

Jackson Financial (NYSE:JXN) last announced its quarterly 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 business had revenue of $1.93 billion for the quarter, compared to analysts’ expectations of $1.40 billion. The firm’s quarterly revenue was up 3.3% compared to the same quarter last year. During the same quarter last year, the business posted $5.66 earnings per share. Sell-side analysts predict that Jackson Financial will post 15.89 earnings per share for the current year.

Jackson Financial Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 21st. Investors of record on Tuesday, March 12th were paid a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 4.42%. The ex-dividend date was Monday, March 11th. This is a positive change from Jackson Financial’s previous quarterly dividend of $0.62. Jackson Financial’s payout ratio is 28.54%.

Insider Buying and Selling

In related news, Director Derek G. Kirkland purchased 3,500 shares of the company’s stock in a transaction that occurred on Monday, March 4th. The stock was acquired at an average price of $55.67 per share, for a total transaction of $194,845.00. Following the completion of the purchase, the director now owns 37,726 shares in the company, valued at $2,100,206.42. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 1.70% of the company’s stock.

Institutional Trading of Jackson Financial

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. increased its stake in shares of Jackson Financial by 16.1% in the third quarter. Vanguard Group Inc. now owns 10,933,228 shares of the company’s stock worth $417,868,000 after buying an additional 1,518,547 shares during the last quarter. BlackRock Inc. increased its stake in Jackson Financial by 3.7% during the second quarter. BlackRock Inc. now owns 6,480,689 shares of the company’s stock valued at $198,374,000 after purchasing an additional 231,800 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in Jackson Financial by 10.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 4,175,970 shares of the company’s stock valued at $213,813,000 after purchasing an additional 399,665 shares during the last quarter. Price T Rowe Associates Inc. MD increased its stake in Jackson Financial by 1.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 4,157,287 shares of the company’s stock valued at $155,525,000 after purchasing an additional 52,814 shares during the last quarter. Finally, Hsbc Holdings PLC increased its stake in Jackson Financial by 45,699.9% during the third quarter. Hsbc Holdings PLC now owns 3,241,261 shares of the company’s stock valued at $124,043,000 after purchasing an additional 3,234,184 shares during the last quarter. 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.