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

Shares of Jackson Financial Inc. (NYSE:JXN) have received a consensus rating of “Hold” from the six ratings firms that are presently covering the firm, Marketbeat reports. Five analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The average 12 month target price among brokers that have covered the stock in the last year is $80.33.

A number of research firms have issued reports on JXN. Barclays boosted their target price on Jackson Financial from $109.00 to $111.00 and gave the company an “overweight” rating in a research note on Tuesday, October 8th. Morgan Stanley boosted 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 increased their target price 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, Jefferies Financial Group lifted their price target on shares of Jackson Financial from $73.00 to $80.00 and gave the company a “hold” rating in a research note on Monday, July 29th.

Jackson Financial Stock Down 1.2 %

Jackson Financial stock opened at $98.25 on Monday. The firm has a market capitalization of $7.49 billion, a price-to-earnings ratio of 2.60 and a beta of 1.50. The company’s 50 day simple moving average is $90.55 and its 200 day simple moving average is $80.70. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.30 and a quick ratio of 0.30. Jackson Financial has a fifty-two week low of $36.06 and a fifty-two week high of $101.73.

Jackson Financial (NYSE:JXN) last announced its quarterly earnings results on Wednesday, August 7th. The company reported $5.32 earnings per share for the quarter, topping analysts’ consensus estimates of $4.32 by $1.00. The firm had revenue of $2.01 billion for the quarter, compared to the consensus estimate of $1.71 billion. During the same period in the prior year, the business earned $3.34 earnings per share. The company’s revenue for the quarter was up 5.0% compared to the same quarter last year. As a group, sell-side analysts anticipate that Jackson Financial will post 18.78 EPS for the current year.

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

Jackson Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, September 19th. Shareholders of record on Thursday, September 5th were paid a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 2.85%. The ex-dividend date of this dividend was Thursday, September 5th. Jackson Financial’s payout ratio is 7.40%.

Insider Activity

In other Jackson Financial news, EVP Carrie Chelko sold 5,500 shares of Jackson Financial stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $91.31, for a total value of $502,205.00. Following the sale, the executive vice president now directly owns 61,829 shares in the company, valued at approximately $5,645,605.99. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 1.30% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. Hantz Financial Services Inc. bought a new position in shares of Jackson Financial in the 2nd quarter valued at about $25,000. Blue Trust Inc. raised its stake in Jackson Financial by 232.1% in the 3rd quarter. Blue Trust Inc. now owns 372 shares of the company’s stock valued at $34,000 after acquiring an additional 260 shares during the period. EverSource Wealth Advisors LLC lifted its holdings in Jackson Financial by 400.0% during the 1st quarter. EverSource Wealth Advisors LLC now owns 395 shares of the company’s stock valued at $27,000 after purchasing an additional 316 shares during the last quarter. GAMMA Investing LLC boosted its holdings in shares of Jackson Financial by 60.8% during the 2nd quarter. GAMMA Investing LLC now owns 775 shares of the company’s stock worth $58,000 after buying an additional 293 shares during the period. Finally, CWM LLC grew its stake in Jackson Financial by 80.5% in the 2nd quarter. CWM LLC now owns 1,025 shares of the company’s stock valued at $76,000 after buying an additional 457 shares during the last quarter. 89.96% of the stock is currently 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.