Jackson Financial (NYSE:JXN) Sets New 1-Year High at $90.16

Jackson Financial Inc. (NYSE:JXN) reached a new 52-week high during trading on Thursday . The stock traded as high as $90.16 and last traded at $89.80, with a volume of 11907 shares changing hands. The stock had previously closed at $87.07.

Wall Street Analyst Weigh In

Several research firms have commented on JXN. Barclays initiated coverage on shares of Jackson Financial in a report on Wednesday, September 4th. They set an “overweight” rating and a $109.00 price objective on the stock. Keefe, Bruyette & Woods increased their price target on shares of Jackson Financial from $80.00 to $82.00 and gave the stock a “market perform” rating in a report on Wednesday, August 14th. Morgan Stanley increased their price target on shares of 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 increased their price target on shares of Jackson Financial from $73.00 to $80.00 and gave the stock a “hold” rating in a report on Monday, July 29th. Finally, Evercore ISI lowered their price target on shares of Jackson Financial from $75.00 to $73.00 and set an “in-line” rating on the stock in a report on Wednesday, June 26th. Five investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $80.00.

Jackson Financial Stock Performance

The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.42. The company’s 50-day moving average is $83.59 and its two-hundred day moving average is $74.61. The company has a market capitalization of $6.91 billion, a P/E ratio of 2.30 and a beta of 1.50.

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

Jackson Financial Dividend Announcement

The firm also recently declared 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. This represents a $2.80 dividend on an annualized basis and a yield of 3.09%. The ex-dividend date is Thursday, September 5th. Jackson Financial’s payout ratio is currently 7.40%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Gordian Capital Singapore Pte Ltd bought a new position in Jackson Financial during the second quarter valued at approximately $297,000. Cetera Investment Advisers grew its holdings in shares of Jackson Financial by 10.5% in the second quarter. Cetera Investment Advisers now owns 63,707 shares of the company’s stock worth $4,731,000 after purchasing an additional 6,079 shares during the last quarter. Lighthouse Investment Partners LLC bought a new position in shares of Jackson Financial in the second quarter worth approximately $1,564,000. AXA S.A. bought a new position in shares of Jackson Financial in the second quarter worth approximately $5,688,000. Finally, Bank of Montreal Can grew its holdings in shares of Jackson Financial by 249.3% in the second quarter. Bank of Montreal Can now owns 34,300 shares of the company’s stock worth $2,570,000 after purchasing an additional 24,480 shares during the last quarter. 89.96% of the stock is currently owned by 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.