Morgan Stanley Increases Jackson Financial (NYSE:JXN) Price Target to $70.00

Jackson Financial (NYSE:JXN) had its target price hoisted by equities research analysts at Morgan Stanley from $52.00 to $70.00 in a report issued on Monday, Benzinga reports. The firm currently has an “equal weight” rating on the stock. Morgan Stanley’s target price indicates a potential upside of 9.31% from the stock’s current price.

JXN has been the topic of a number of other reports. Evercore ISI raised their price target on shares of Jackson Financial from $55.00 to $62.00 and gave the company an “in-line” rating in a report on Thursday, April 11th. The Goldman Sachs Group increased their price objective on Jackson Financial from $39.00 to $47.00 and gave the company a “neutral” rating in a report on Tuesday, January 9th. Jefferies Financial Group restated a “hold” rating and set a $55.00 target price on shares of Jackson Financial in a research note on Tuesday, January 2nd. Finally, Keefe, Bruyette & Woods raised their price target on Jackson Financial from $68.00 to $75.00 and gave the stock an “outperform” rating in a report on Wednesday, April 10th. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $61.80.

Jackson Financial Stock Down 0.2 %

Shares of JXN stock opened at $64.04 on Monday. The stock has a market cap of $4.96 billion, a P/E ratio of 6.53 and a beta of 1.57. Jackson Financial has a 52 week low of $26.70 and a 52 week high of $68.97. The company has a quick ratio of 0.33, a current ratio of 0.33 and a debt-to-equity ratio of 0.41. The company’s fifty day simple moving average is $59.11 and its two-hundred day simple moving average is $50.43.

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 firm had revenue of $1.93 billion for the quarter, compared to analysts’ expectations of $1.40 billion. The firm’s revenue was up 3.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $5.66 EPS. Analysts predict that Jackson Financial will post 15.89 EPS for the current fiscal year.

Insider Activity at Jackson Financial

In other Jackson Financial news, Director Derek G. Kirkland acquired 3,500 shares of the business’s stock in a transaction on Monday, March 4th. The stock was purchased at an average price of $55.67 per share, for a total transaction of $194,845.00. Following the completion of the transaction, the director now owns 37,726 shares of the company’s stock, valued at approximately $2,100,206.42. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 1.70% of the stock is owned by insiders.

Institutional Investors Weigh In On Jackson Financial

A number of hedge funds and other institutional investors have recently modified their holdings of JXN. Advisors Preferred LLC purchased a new stake in shares of Jackson Financial during the 4th quarter valued at about $1,680,000. Teachers Retirement System of The State of Kentucky purchased a new position in shares of Jackson Financial in the third quarter valued at $871,000. Vanguard Group Inc. boosted 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 valued at $417,868,000 after purchasing an additional 1,518,547 shares during the period. Massachusetts Financial Services Co. MA grew its holdings in Jackson Financial by 19.9% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 78,919 shares of the company’s stock valued at $3,016,000 after purchasing an additional 13,121 shares in the last quarter. Finally, Hudson Bay Capital Management LP purchased a new stake in Jackson Financial during the 3rd quarter worth $7,644,000. 89.96% of the stock is currently owned by hedge funds and other institutional investors.

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.