Brokerages Set Jackson Financial Inc. (NYSE:JXN) Target Price at $84.00

Jackson Financial Inc. (NYSE:JXN) has received an average recommendation of “Hold” from the six research firms that are covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and one has issued a buy recommendation on the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $84.00.

Several equities analysts have commented on the company. Morgan Stanley raised their price objective on Jackson Financial from $86.00 to $89.00 and gave the company an “equal weight” rating in a research report on Monday, August 19th. Keefe, Bruyette & Woods raised their price objective on Jackson Financial from $80.00 to $82.00 and gave the company a “market perform” rating in a research report on Wednesday, August 14th. Evercore ISI lowered Jackson Financial from an “in-line” rating to an “underperform” rating and raised their price objective for the company from $74.00 to $95.00 in a research report on Thursday, November 14th. Jefferies Financial Group raised their price objective on Jackson Financial from $73.00 to $80.00 and gave the company a “hold” rating in a research report on Monday, July 29th. Finally, Barclays lifted their price target on Jackson Financial from $109.00 to $111.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 8th.

Insiders Place Their Bets

In other Jackson Financial news, EVP Carrie Chelko sold 5,500 shares of the business’s 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 $5,645,605.99. The trade was a 8.17 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.30% of the stock is owned by insiders.

Institutional Investors Weigh In On Jackson Financial

Large investors have recently made changes to their positions in the company. Cetera Investment Advisers bought a new position in shares of Jackson Financial during the 1st quarter valued at approximately $3,812,000. B. Riley Wealth Advisors Inc. grew its stake in shares of Jackson Financial by 16.5% during the 1st quarter. B. Riley Wealth Advisors Inc. now owns 41,031 shares of the company’s stock valued at $2,714,000 after acquiring an additional 5,819 shares during the period. UniSuper Management Pty Ltd bought a new position in shares of Jackson Financial during the 1st quarter valued at approximately $866,000. DekaBank Deutsche Girozentrale boosted its stake in Jackson Financial by 11.6% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 108,944 shares of the company’s stock worth $7,073,000 after purchasing an additional 11,328 shares during the period. Finally, CWA Asset Management Group LLC bought a new position in Jackson Financial in the 3rd quarter worth approximately $897,000. 89.96% of the stock is currently owned by institutional investors.

Jackson Financial Stock Performance

NYSE:JXN opened at $101.88 on Friday. The stock has a market cap of $7.53 billion, a P/E ratio of -8.06 and a beta of 1.48. The firm’s fifty day simple moving average is $98.02 and its 200 day simple moving average is $85.69. Jackson Financial has a twelve month low of $45.61 and a twelve month high of $115.22. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.42.

Jackson Financial (NYSE:JXN) last released its quarterly earnings results on Wednesday, November 6th. The company reported $4.60 earnings per share for the quarter, missing the consensus estimate of $4.67 by ($0.07). The company had revenue of $2.12 billion for the quarter, compared to analyst estimates of $1.73 billion. During the same quarter in the prior year, the business posted $3.80 EPS. As a group, research analysts predict that Jackson Financial will post 18.8 EPS for the current year.

Jackson Financial declared 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 reacquire up to 10.8% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s board believes its shares are undervalued.

Jackson Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Thursday, December 5th will be given a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 2.75%. The ex-dividend date is Thursday, December 5th. Jackson Financial’s dividend payout ratio (DPR) is -22.15%.

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.