Jackson Financial (NYSE:JXN) Price Target Cut to $73.00

Jackson Financial (NYSE:JXN) had its price target reduced by Evercore ISI from $75.00 to $73.00 in a research report released on Wednesday, Benzinga reports. They currently have an in-line rating on the stock.

A number of other research analysts have also weighed in on the stock. Morgan Stanley raised their target price on shares of Jackson Financial from $52.00 to $70.00 and gave the stock an equal weight rating in a research note on Monday, April 15th. Keefe, Bruyette & Woods lowered shares of Jackson Financial from an outperform rating to a market perform rating and raised their target price for the stock from $75.00 to $80.00 in a research note on Tuesday, May 14th. Five analysts have rated the stock with a hold rating, According to MarketBeat.com, the company currently has a consensus rating of Hold and a consensus price target of $68.00.

Jackson Financial Trading Up 1.4 %

JXN stock opened at $74.26 on Wednesday. The company has a current ratio of 0.32, a quick ratio of 0.32 and a debt-to-equity ratio of 0.42. Jackson Financial has a 12-month low of $29.28 and a 12-month high of $81.52. The stock has a market cap of $5.66 billion, a price-to-earnings ratio of 1.96 and a beta of 1.54. The business’s 50-day moving average is $73.43 and its 200 day moving average is $61.89.

Jackson Financial (NYSE:JXN) last posted its quarterly earnings data on Wednesday, May 8th. The company reported $4.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.67 by $0.56. The firm had revenue of $2 billion during the quarter, compared to analyst estimates of $1.67 billion. During the same quarter in the previous year, the firm posted $3.15 earnings per share. The company’s quarterly revenue was up 5.8% on a year-over-year basis. On average, sell-side analysts anticipate that Jackson Financial will post 16.98 EPS for the current fiscal year.

Jackson Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, June 20th. Stockholders of record on Thursday, June 6th were given a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 3.77%. The ex-dividend date was Thursday, June 6th. Jackson Financial’s payout ratio is presently 7.40%.

Insider Activity

In other news, CFO Don W. Cummings purchased 1,445 shares of Jackson Financial stock in a transaction dated Wednesday, June 5th. The shares were purchased at an average price of $72.70 per share, with a total value of $105,051.50. Following the transaction, the chief financial officer now owns 45,711 shares in the company, valued at $3,323,189.70. The purchase was disclosed in a document filed with the SEC, which is available through this link. In other Jackson Financial news, COO Devkumar Dilip Ganguly sold 13,000 shares of the business’s stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $75.67, for a total value of $983,710.00. Following the sale, the chief operating officer now owns 93,405 shares of the company’s stock, valued at $7,067,956.35. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Don W. Cummings bought 1,445 shares of the business’s stock in a transaction on Wednesday, June 5th. The stock was purchased at an average cost of $72.70 per share, for a total transaction of $105,051.50. Following the transaction, the chief financial officer now owns 45,711 shares of the company’s stock, valued at $3,323,189.70. The disclosure for this purchase can be found here. Corporate insiders own 1.30% of the company’s stock.

Institutional Trading of Jackson Financial

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. GAMMA Investing LLC raised its position in Jackson Financial by 47.0% in the first quarter. GAMMA Investing LLC now owns 482 shares of the company’s stock valued at $32,000 after purchasing an additional 154 shares during the period. Hexagon Capital Partners LLC raised its position in Jackson Financial by 18.1% in the first quarter. Hexagon Capital Partners LLC now owns 1,532 shares of the company’s stock valued at $101,000 after purchasing an additional 235 shares during the period. Asset Allocation Strategies LLC grew its stake in shares of Jackson Financial by 1.4% in the fourth quarter. Asset Allocation Strategies LLC now owns 17,310 shares of the company’s stock worth $886,000 after acquiring an additional 242 shares in the last quarter. Nomura Asset Management Co. Ltd. grew its stake in shares of Jackson Financial by 18.0% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 1,640 shares of the company’s stock worth $84,000 after acquiring an additional 250 shares in the last quarter. Finally, Private Trust Co. NA grew its stake in shares of Jackson Financial by 10.2% in the fourth quarter. Private Trust Co. NA now owns 3,156 shares of the company’s stock worth $162,000 after acquiring an additional 292 shares in the last quarter. Hedge funds and other institutional investors 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.