Jackson Financial (NYSE:JXN) Reaches New 12-Month High at $71.05

Jackson Financial Inc. (NYSE:JXN)’s stock price reached a new 52-week high during mid-day trading on Friday . The company traded as high as $71.05 and last traded at $70.93, with a volume of 45407 shares changing hands. The stock had previously closed at $69.42.

Analysts Set New Price Targets

Several brokerages have weighed in on JXN. Keefe, Bruyette & Woods increased their target price on Jackson Financial from $68.00 to $75.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 10th. The Goldman Sachs Group lifted their price objective 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. Morgan Stanley upped their target price on shares of Jackson Financial from $52.00 to $70.00 and gave the stock an “equal weight” rating in a research report on Monday, April 15th. Finally, Evercore ISI lifted their price target on Jackson Financial from $55.00 to $62.00 and gave the company an “in-line” rating in a report on Thursday, April 11th. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, Jackson Financial presently has an average rating of “Hold” and an average target price of $61.80.

Jackson Financial Price Performance

The stock has a 50-day moving average of $63.70 and a two-hundred day moving average of $53.24. The firm has a market cap of $5.51 billion, a price-to-earnings ratio of 7.25 and a beta of 1.54. The company has a current ratio of 0.33, a quick ratio of 0.33 and a debt-to-equity ratio of 0.41.

Jackson Financial (NYSE:JXN) last announced its earnings results on Wednesday, February 21st. The company reported $2.53 EPS for the quarter, missing the consensus estimate of $3.53 by ($1.00). The business had revenue of $1.93 billion for the quarter, compared to the consensus estimate of $1.40 billion. During the same period last year, the firm posted $5.66 EPS. Jackson Financial’s revenue for the quarter was up 3.3% on a year-over-year basis. On average, analysts anticipate that Jackson Financial Inc. will post 15.95 EPS 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 given a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 3.93%. The ex-dividend date of this dividend was Monday, March 11th. This is a boost from Jackson Financial’s previous quarterly dividend of $0.62. Jackson Financial’s dividend payout ratio (DPR) is 28.54%.

Insider Activity

In other Jackson Financial news, Director Derek G. Kirkland acquired 3,500 shares of Jackson Financial stock in a transaction that occurred on Monday, March 4th. The stock was purchased at an average cost of $55.67 per share, with a total value of $194,845.00. Following the purchase, the director now owns 37,726 shares in the company, valued at $2,100,206.42. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.30% of the stock is currently owned by corporate insiders.

Institutional Trading of Jackson Financial

Hedge funds and other institutional investors have recently modified their holdings of the company. GAMMA Investing LLC increased its holdings in Jackson Financial by 47.0% in the first quarter. GAMMA Investing LLC now owns 482 shares of the company’s stock worth $32,000 after buying an additional 154 shares during the last quarter. Daiwa Securities Group Inc. acquired a new position in shares of Jackson Financial during the 4th quarter worth $36,000. Headlands Technologies LLC acquired a new position in shares of Jackson Financial during the 4th quarter worth $38,000. NBC Securities Inc. bought a new position in shares of Jackson Financial during the 3rd quarter valued at $28,000. Finally, Valued Wealth Advisors LLC acquired a new stake in shares of Jackson Financial in the 1st quarter valued at $66,000. 89.96% of the stock is currently owned by hedge funds and other institutional investors.

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.