Analysts Set Jackson Financial Inc. (NYSE:JXN) Target Price at $58.20

Jackson Financial Inc. (NYSE:JXN) has been given a consensus recommendation of “Hold” by the five ratings firms that are currently covering the company, Marketbeat Ratings reports. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $58.20.

A number of research firms have issued reports on JXN. Jefferies Financial Group reaffirmed a “hold” rating and issued a $55.00 price target on shares of Jackson Financial in a report on Tuesday, January 2nd. Evercore ISI boosted their price objective on Jackson Financial from $55.00 to $62.00 and gave the company an “in-line” rating in a report on Thursday. The Goldman Sachs Group boosted 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. Keefe, Bruyette & Woods increased their target price on shares of Jackson Financial from $68.00 to $75.00 and gave the stock an “outperform” rating in a research note on Wednesday. Finally, Morgan Stanley lifted their price objective on Jackson Financial from $49.00 to $52.00 and gave the stock an “equal weight” rating in a report on Friday, March 1st.

Insiders Place Their Bets

In other news, Director Derek G. Kirkland purchased 3,500 shares of the business’s 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 completion of the acquisition, the director now directly owns 37,726 shares of the company’s stock, valued at approximately $2,100,206.42. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.70% of the stock is owned by insiders.

Institutional Trading of Jackson Financial

Hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. grew its holdings in Jackson Financial by 16.1% during the 3rd quarter. Vanguard Group Inc. now owns 10,933,228 shares of the company’s stock worth $417,868,000 after acquiring an additional 1,518,547 shares in the last quarter. BlackRock Inc. increased its position in Jackson Financial by 3.7% in the 2nd quarter. BlackRock Inc. now owns 6,480,689 shares of the company’s stock valued at $198,374,000 after acquiring an additional 231,800 shares during the period. Dimensional Fund Advisors LP boosted its position in Jackson Financial by 10.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 4,175,970 shares of the company’s stock worth $213,813,000 after acquiring an additional 399,665 shares during the period. Price T Rowe Associates Inc. MD increased its holdings in shares of 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 period. Finally, Hsbc Holdings PLC raised its stake in shares of 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 in the last quarter. 89.96% of the stock is owned by hedge funds and other institutional investors.

Jackson Financial Stock Performance

Shares of JXN opened at $63.38 on Thursday. Jackson Financial has a 52 week low of $26.70 and a 52 week high of $68.97. The stock has a market cap of $4.91 billion, a price-to-earnings ratio of 6.46 and a beta of 1.57. The business has a 50-day simple moving average of $58.82 and a two-hundred day simple moving average of $50.16. The company has a quick ratio of 0.33, a current ratio of 0.33 and a debt-to-equity ratio of 0.41.

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. On average, analysts expect that Jackson Financial will post 15.89 EPS for the current year.

Jackson Financial Increases Dividend

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