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

Jackson Financial Inc. (NYSE:JXN) shares shot up 2% on Wednesday after Keefe, Bruyette & Woods raised their price target on the stock from $68.00 to $75.00. Keefe, Bruyette & Woods currently has an outperform rating on the stock. Jackson Financial traded as high as $66.29 and last traded at $66.29. 50,813 shares were traded during trading, a decline of 94% from the average session volume of 826,453 shares. The stock had previously closed at $64.96.

A number of other brokerages have also weighed in on JXN. The Goldman Sachs Group lifted their target price on shares of Jackson Financial from $39.00 to $47.00 and gave the company a “neutral” rating in a research note on Tuesday, January 9th. Morgan Stanley lifted their target price on shares of Jackson Financial from $49.00 to $52.00 and gave the company an “equal weight” rating in a research note on Friday, March 1st. Finally, Jefferies Financial Group reaffirmed a “hold” rating and set a $55.00 target price on shares of Jackson Financial in a research note on Tuesday, January 2nd. Three investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $57.25.

Insider Buying and Selling

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

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. GAMMA Investing LLC raised 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. Asset Allocation Strategies LLC raised its holdings in shares of Jackson Financial by 1.4% during the fourth quarter. Asset Allocation Strategies LLC now owns 17,310 shares of the company’s stock valued at $886,000 after purchasing an additional 242 shares during the last quarter. Nomura Asset Management Co. Ltd. raised its holdings in shares of Jackson Financial by 18.0% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 1,640 shares of the company’s stock valued at $84,000 after purchasing an additional 250 shares during the last quarter. Private Trust Co. NA raised its holdings in shares of Jackson Financial by 10.2% during the fourth quarter. Private Trust Co. NA now owns 3,156 shares of the company’s stock valued at $162,000 after purchasing an additional 292 shares during the last quarter. Finally, Kendall Capital Management raised its holdings in shares of Jackson Financial by 0.7% during the fourth quarter. Kendall Capital Management now owns 51,310 shares of the company’s stock valued at $2,627,000 after purchasing an additional 360 shares during the last quarter. 89.96% of the stock is owned by hedge funds and other institutional investors.

Jackson Financial Price Performance

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 firm’s fifty day moving average price is $58.22 and its two-hundred day moving average price is $49.79. The stock has a market capitalization of $5.08 billion, a PE ratio of 6.69 and a beta of 1.57.

Jackson Financial (NYSE:JXN) last released its quarterly earnings data on Wednesday, February 21st. The company reported $2.53 earnings per share for the quarter, missing the consensus estimate 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. During the same period last year, the firm earned $5.66 earnings per share. The firm’s revenue was up 3.3% compared to the same quarter last year. On average, equities analysts predict that Jackson Financial Inc. will post 15.59 earnings per share for the current year.

Jackson Financial Increases Dividend

The business also recently disclosed 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 represents a $2.80 annualized dividend and a dividend yield of 4.27%. This is a boost from Jackson Financial’s previous quarterly dividend of $0.62. The ex-dividend date was Monday, March 11th. Jackson Financial’s payout ratio is presently 28.54%.

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.