Jackson Financial (NYSE:JXN) Sets New 12-Month High at $69.20

Jackson Financial Inc. (NYSE:JXN)’s share price reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $69.20 and last traded at $69.20, with a volume of 422303 shares traded. The stock had previously closed at $67.05.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on JXN shares. The Goldman Sachs Group raised their price objective on shares of Jackson Financial from $39.00 to $47.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 9th. Keefe, Bruyette & Woods raised their price objective on shares of Jackson Financial from $68.00 to $75.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 10th. Morgan Stanley raised their price objective on shares of Jackson Financial from $52.00 to $70.00 and gave the stock an “equal weight” rating in a research report on Monday, April 15th. Jefferies Financial Group restated a “hold” rating and set a $55.00 price objective on shares of Jackson Financial in a research report on Tuesday, January 2nd. Finally, Evercore ISI increased their target price on shares of Jackson Financial from $55.00 to $62.00 and gave the stock an “in-line” rating in a research note on Thursday, April 11th. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $61.80.

Jackson Financial Trading Up 3.7 %

The company has a debt-to-equity ratio of 0.41, a current ratio of 0.33 and a quick ratio of 0.33. The company has a market cap of $5.38 billion, a PE ratio of 6.83 and a beta of 1.57. The company’s 50 day simple moving average is $60.47 and its two-hundred day simple moving average is $51.40.

Jackson Financial (NYSE:JXN) last posted its quarterly earnings data on Wednesday, February 21st. The company reported $2.53 EPS for the quarter, missing the consensus estimate of $3.53 by ($1.00). The firm had revenue of $1.93 billion for the quarter, compared to analyst estimates of $1.40 billion. During the same period last year, the firm posted $5.66 earnings per share. The business’s revenue for the quarter was up 3.3% on a year-over-year basis. As a group, sell-side analysts anticipate that Jackson Financial Inc. will post 15.95 EPS for the current fiscal year.

Jackson Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 21st. Stockholders of record on Tuesday, March 12th were paid a $0.70 dividend. This is a positive change from Jackson Financial’s previous quarterly dividend of $0.62. The ex-dividend date of this dividend was Monday, March 11th. This represents a $2.80 annualized dividend and a dividend yield of 4.03%. Jackson Financial’s dividend payout ratio (DPR) is presently 28.54%.

Insider Activity

In other news, Director Derek G. Kirkland bought 3,500 shares of Jackson Financial stock in a transaction that occurred on Monday, March 4th. The shares were purchased at an average price of $55.67 per share, with a total value of $194,845.00. Following the completion of the acquisition, the director now directly owns 37,726 shares in the company, valued at $2,100,206.42. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 1.70% of the company’s stock.

Institutional Trading of Jackson Financial

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Global Retirement Partners LLC increased its holdings in shares of Jackson Financial by 464.7% in the 3rd quarter. Global Retirement Partners LLC now owns 1,344 shares of the company’s stock valued at $49,000 after acquiring an additional 1,106 shares during the period. Summit Global Investments acquired a new position in shares of Jackson Financial in the 3rd quarter valued at $367,000. State of Alaska Department of Revenue acquired a new position in shares of Jackson Financial in the 3rd quarter valued at $1,734,000. Everence Capital Management Inc. acquired a new position in shares of Jackson Financial in the 3rd quarter valued at $343,000. Finally, Private Trust Co. NA increased its holdings in shares of Jackson Financial by 60.6% in the 3rd quarter. Private Trust Co. NA now owns 2,864 shares of the company’s stock valued at $109,000 after acquiring an additional 1,081 shares during the period. Institutional investors and hedge funds own 89.96% of the company’s stock.

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.