Jackson Financial (NYSE:JXN) Hits New 1-Year High at $93.00

Jackson Financial Inc. (NYSE:JXN) shares hit a new 52-week high during trading on Wednesday . The company traded as high as $93.00 and last traded at $92.20, with a volume of 56461 shares trading hands. The stock had previously closed at $90.25.

Analyst Ratings Changes

A number of research firms have issued reports on JXN. Barclays began coverage on shares of Jackson Financial in a research report on Wednesday, September 4th. They issued an “overweight” rating and a $109.00 target price for the company. Morgan Stanley increased their price objective 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 upped their target price on Jackson Financial from $73.00 to $80.00 and gave the stock a “hold” rating in a research report on Monday, July 29th. Keefe, Bruyette & Woods raised 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. Finally, Evercore ISI lowered their price target on Jackson Financial from $75.00 to $73.00 and set an “in-line” rating for the company in a research note on Wednesday, June 26th. Five analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, Jackson Financial has an average rating of “Hold” and a consensus target price of $80.00.

Jackson Financial Stock Performance

The firm has a 50 day moving average price of $85.16 and a 200-day moving average price of $76.70. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.30 and a current ratio of 0.30. The company has a market cap of $7.00 billion, a P/E ratio of 2.38 and a beta of 1.50.

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

Jackson Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, September 19th. Shareholders of record on Thursday, September 5th were issued a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 3.05%. The ex-dividend date was Thursday, September 5th. Jackson Financial’s dividend payout ratio (DPR) is 7.40%.

Jackson Financial declared that its board has approved a share repurchase program on Wednesday, August 7th that allows the company to repurchase $750.00 million in outstanding shares. This repurchase authorization allows the company to purchase up to 10.8% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board believes its stock is undervalued.

Insider Buying and Selling

In other Jackson Financial news, EVP Carrie Chelko sold 5,500 shares of the firm’s stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $91.31, for a total value of $502,205.00. Following the sale, the executive vice president now owns 61,829 shares of the company’s stock, valued at approximately $5,645,605.99. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 1.30% of the stock is owned by insiders.

Institutional Trading of Jackson Financial

A number of hedge funds have recently bought and sold shares of the stock. Hantz Financial Services Inc. acquired a new position in shares of Jackson Financial during the second quarter valued at about $25,000. EverSource Wealth Advisors LLC raised its holdings in Jackson Financial by 400.0% in the 1st quarter. EverSource Wealth Advisors LLC now owns 395 shares of the company’s stock valued at $27,000 after acquiring an additional 316 shares in the last quarter. GAMMA Investing LLC grew its holdings in shares of Jackson Financial by 47.0% during the 1st quarter. GAMMA Investing LLC now owns 482 shares of the company’s stock worth $32,000 after purchasing an additional 154 shares in the last quarter. Valued Wealth Advisors LLC bought a new stake in shares of Jackson Financial during the first quarter valued at approximately $66,000. Finally, CWM LLC raised its stake in shares of Jackson Financial by 80.5% in the second quarter. CWM LLC now owns 1,025 shares of the company’s stock valued at $76,000 after purchasing an additional 457 shares in the last quarter. 89.96% of the stock is owned by institutional investors.

Jackson Financial Company Profile

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.