Jackson Financial Inc. (NYSE:JXN) Given Consensus Rating of “Hold” by Analysts

Shares of Jackson Financial Inc. (NYSE:JXN) have been assigned an average recommendation of “Hold” from the six ratings firms that are currently covering the stock, MarketBeat reports. Five research analysts have rated the stock with a hold rating and one has given a buy rating to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $80.00.

JXN has been the subject of a number of research reports. Jefferies Financial Group increased their target price on shares of Jackson Financial from $73.00 to $80.00 and gave the company a “hold” rating in a research report on Monday, July 29th. Keefe, Bruyette & Woods increased their price target on Jackson Financial from $80.00 to $82.00 and gave the stock a “market perform” rating in a research note on Wednesday, August 14th. Evercore ISI dropped their price objective 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. Morgan Stanley boosted their price objective on shares of Jackson Financial from $86.00 to $89.00 and gave the company an “equal weight” rating in a research note on Monday, August 19th. Finally, Barclays initiated coverage on shares of Jackson Financial in a research note on Wednesday, September 4th. They issued an “overweight” rating and a $109.00 target price on the stock.

Insider Activity at Jackson Financial

In related news, EVP Carrie Chelko sold 5,500 shares of the stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $91.31, for a total transaction of $502,205.00. Following the completion of the sale, the executive vice president now directly owns 61,829 shares in the company, valued at approximately $5,645,605.99. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 1.30% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. Cetera Investment Advisers purchased a new stake in shares of Jackson Financial in the 1st quarter worth about $3,812,000. FORA Capital LLC raised its holdings in Jackson Financial by 399.7% in the first quarter. FORA Capital LLC now owns 27,894 shares of the company’s stock worth $1,845,000 after purchasing an additional 22,312 shares in the last quarter. O Shaughnessy Asset Management LLC lifted its position in Jackson Financial by 32.1% during the first quarter. O Shaughnessy Asset Management LLC now owns 61,139 shares of the company’s stock valued at $4,044,000 after buying an additional 14,848 shares during the period. B. Riley Wealth Advisors Inc. grew its position in shares of Jackson Financial by 16.5% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 41,031 shares of the company’s stock worth $2,714,000 after buying an additional 5,819 shares during the period. Finally, UniSuper Management Pty Ltd purchased a new position in Jackson Financial during the 1st quarter valued at about $866,000. Hedge funds and other institutional investors own 89.96% of the company’s stock.

Jackson Financial Trading Up 1.4 %

Shares of Jackson Financial stock opened at $91.49 on Thursday. 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 stock has a fifty day simple moving average of $85.16 and a 200 day simple moving average of $76.70. Jackson Financial has a 12-month low of $35.27 and a 12-month high of $93.00. The company has a market capitalization of $6.98 billion, a P/E ratio of 2.42 and a beta of 1.50.

Jackson Financial (NYSE:JXN) last released its earnings results 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. The business’s revenue was up 5.0% on a year-over-year basis. During the same period in the prior year, the company earned $3.34 earnings per share. On average, sell-side analysts anticipate that Jackson Financial will post 18.49 earnings per share for the current fiscal year.

Jackson Financial announced that its Board of Directors has authorized a share buyback program on Wednesday, August 7th that allows the company to repurchase $750.00 million in shares. This repurchase authorization allows the company to purchase up to 10.8% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board believes its stock is undervalued.

Jackson Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, September 19th. Investors of record on Thursday, September 5th were given a $0.70 dividend. The ex-dividend date of this dividend was Thursday, September 5th. This represents a $2.80 dividend on an annualized basis and a yield of 3.06%. Jackson Financial’s payout ratio is 7.40%.

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.