Jackson Financial (NYSE:JXN) Cut to Underperform at Evercore ISI

Jackson Financial (NYSE:JXN) was downgraded by stock analysts at Evercore ISI from an “in-line” rating to an “underperform” rating in a report issued on Thursday, Marketbeat reports. They currently have a $95.00 price objective on the stock, up from their prior price objective of $74.00. Evercore ISI’s price objective would indicate a potential downside of 5.59% from the company’s current price.

Other equities analysts have also issued reports about the stock. Morgan Stanley boosted their price target on shares of Jackson Financial from $86.00 to $89.00 and gave the stock an “equal weight” rating in a research report on Monday, August 19th. Jefferies Financial Group boosted their price target on shares of 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 boosted their price target on shares of Jackson Financial from $80.00 to $82.00 and gave the stock a “market perform” rating in a research report on Wednesday, August 14th. Finally, Barclays boosted their target price on shares of Jackson Financial from $109.00 to $111.00 and gave the company an “overweight” rating in a report on Tuesday, October 8th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, Jackson Financial currently has a consensus rating of “Hold” and a consensus target price of $84.00.

Jackson Financial Stock Up 0.1 %

JXN stock opened at $100.63 on Thursday. The stock has a market capitalization of $7.57 billion, a P/E ratio of -7.96 and a beta of 1.48. The firm has a 50-day simple moving average of $95.75 and a 200-day simple moving average of $84.35. 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 has a 52 week low of $44.40 and a 52 week high of $115.22.

Jackson Financial (NYSE:JXN) last released its earnings results on Wednesday, November 6th. The company reported $4.60 EPS for the quarter, missing analysts’ consensus estimates of $4.67 by ($0.07). The firm had revenue of $2.12 billion for the quarter, compared to analyst estimates of $1.73 billion. During the same period in the prior year, the company earned $3.80 earnings per share. Equities analysts forecast that Jackson Financial will post 18.8 earnings per share for the current fiscal year.

Jackson Financial announced that its board has initiated a share repurchase plan on Wednesday, August 7th that authorizes the company to repurchase $750.00 million in outstanding shares. This repurchase authorization authorizes the company to repurchase up to 10.8% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board believes its shares are undervalued.

Insider Activity

In related news, EVP Carrie Chelko sold 5,500 shares of the company’s stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $91.31, for a total transaction of $502,205.00. Following the sale, the executive vice president now directly owns 61,829 shares of the company’s stock, valued at $5,645,605.99. This represents a 8.17 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.30% of the company’s stock.

Institutional Investors Weigh In On Jackson Financial

Large investors have recently added to or reduced their stakes in the business. Cetera Investment Advisers purchased a new stake in Jackson Financial during the 1st quarter worth approximately $3,812,000. O Shaughnessy Asset Management LLC increased its position in shares of Jackson Financial by 32.1% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 61,139 shares of the company’s stock valued at $4,044,000 after purchasing an additional 14,848 shares during the last quarter. B. Riley Wealth Advisors Inc. increased 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 valued at $2,714,000 after purchasing an additional 5,819 shares during the last quarter. UniSuper Management Pty Ltd purchased a new stake in shares of Jackson Financial in the 1st quarter valued at approximately $866,000. Finally, DekaBank Deutsche Girozentrale increased its position in shares of Jackson Financial by 11.6% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 108,944 shares of the company’s stock valued at $7,073,000 after purchasing an additional 11,328 shares during the last quarter. 89.96% of the stock is owned by hedge funds and other 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.