Jackson Financial (NYSE:JXN) Sets New 1-Year High at $90.10

Shares of Jackson Financial Inc. (NYSE:JXN) hit a new 52-week high during mid-day trading on Friday . The stock traded as high as $90.10 and last traded at $89.97, with a volume of 673060 shares trading hands. The stock had previously closed at $87.25.

Wall Street Analysts Forecast Growth

Several brokerages have commented on JXN. Keefe, Bruyette & Woods boosted their price target on shares of Jackson Financial from $80.00 to $82.00 and gave the stock a “market perform” rating in a research report on Wednesday, August 14th. Morgan Stanley upped their target price on Jackson Financial from $86.00 to $89.00 and gave the stock an “equal weight” rating in a report on Monday, August 19th. Jefferies Financial Group raised their price target on Jackson Financial from $73.00 to $80.00 and gave the company a “hold” rating in a research note on Monday, July 29th. Finally, Evercore ISI dropped their price objective on Jackson Financial from $75.00 to $73.00 and set an “in-line” rating on the stock in a research note on Wednesday, June 26th. Five research analysts have rated the stock with a hold rating, Based on data from MarketBeat, Jackson Financial has an average rating of “Hold” and an average target price of $74.20.

Jackson Financial Price Performance

The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.42. The firm has a market capitalization of $6.77 billion, a price-to-earnings ratio of 2.38 and a beta of 1.51. The company’s 50 day moving average is $81.12 and its 200-day moving average is $71.79.

Jackson Financial (NYSE:JXN) last released its quarterly earnings data on Wednesday, August 7th. The company reported $5.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.32 by $1.00. The business had revenue of $2.01 billion during the quarter, compared to the consensus estimate of $1.71 billion. During the same quarter in the prior year, the company earned $3.34 EPS. Jackson Financial’s quarterly revenue was up 5.0% on a year-over-year basis. Equities research analysts anticipate that Jackson Financial Inc. will post 18.49 earnings per share for the current year.

Jackson Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 19th. Shareholders of record on Thursday, September 5th will be given a dividend of $0.70 per share. The ex-dividend date is Thursday, September 5th. This represents a $2.80 dividend on an annualized basis and a yield of 3.11%. Jackson Financial’s dividend payout ratio (DPR) is 7.40%.

Insider Activity

In related news, CFO Don W. Cummings purchased 1,445 shares of the firm’s stock in a transaction that occurred on Wednesday, June 5th. The shares were acquired at an average price of $72.70 per share, for a total transaction of $105,051.50. Following the purchase, the chief financial officer now owns 45,711 shares in the company, valued at $3,323,189.70. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.30% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP boosted its position in shares of Jackson Financial by 3.8% in the second quarter. Dimensional Fund Advisors LP now owns 4,471,335 shares of the company’s stock valued at $332,035,000 after acquiring an additional 163,598 shares during the period. Donald Smith & CO. Inc. grew its position in shares of Jackson Financial by 20.1% during the 1st quarter. Donald Smith & CO. Inc. now owns 2,376,476 shares of the company’s stock worth $157,180,000 after purchasing an additional 397,287 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings in shares of Jackson Financial by 6.9% during the fourth quarter. Goldman Sachs Group Inc. now owns 1,738,688 shares of the company’s stock worth $89,021,000 after purchasing an additional 111,875 shares during the period. American Century Companies Inc. increased its holdings in shares of Jackson Financial by 6.5% during the second quarter. American Century Companies Inc. now owns 1,623,071 shares of the company’s stock worth $120,529,000 after purchasing an additional 98,792 shares during the period. Finally, Acadian Asset Management LLC raised its position in shares of Jackson Financial by 146.3% in the second quarter. Acadian Asset Management LLC now owns 1,219,218 shares of the company’s stock valued at $90,525,000 after buying an additional 724,148 shares in the last quarter. 89.96% of the stock is owned by institutional investors and hedge funds.

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.