Jackson Financial (NYSE:JXN) Price Target Raised to $84.00 at Morgan Stanley

Jackson Financial (NYSE:JXN) had its price objective raised by Morgan Stanley from $82.00 to $84.00 in a report published on Wednesday morning, Benzinga reports. Morgan Stanley currently has an equal weight rating on the stock.

A number of other research firms also recently weighed in on JXN. Jefferies Financial Group lifted their target price on Jackson Financial from $62.00 to $70.00 and gave the stock a hold rating in a report on Friday, June 28th. Evercore ISI dropped their target price on Jackson Financial from $75.00 to $73.00 and set an in-line rating for the company in a report on Wednesday, June 26th. Finally, Keefe, Bruyette & Woods cut Jackson Financial from an outperform rating to a market perform rating and raised their price target for the stock from $75.00 to $80.00 in a research report on Tuesday, May 14th. Five analysts have rated the stock with a hold rating, According to data from MarketBeat, Jackson Financial currently has an average rating of Hold and a consensus target price of $70.80.

Jackson Financial Stock Up 0.2 %

JXN opened at $77.87 on Wednesday. Jackson Financial has a fifty-two week low of $31.40 and a fifty-two week high of $81.52. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.32 and a current ratio of 0.32. The company has a market capitalization of $5.94 billion, a P/E ratio of 2.06 and a beta of 1.51. The stock has a fifty day moving average of $74.63 and a 200-day moving average of $63.49.

Jackson Financial (NYSE:JXN) last posted its earnings results on Wednesday, May 8th. The company reported $4.23 earnings per share for the quarter, topping analysts’ consensus estimates of $3.67 by $0.56. The firm had revenue of $2 billion for the quarter, compared to analyst estimates of $1.67 billion. During the same period in the prior year, the business posted $3.15 EPS. The firm’s quarterly revenue was up 5.8% compared to the same quarter last year. On average, equities analysts expect that Jackson Financial will post 17.33 EPS for the current year.

Jackson Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 20th. Shareholders of record on Thursday, June 6th were paid a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 3.60%. The ex-dividend date was Thursday, June 6th. Jackson Financial’s dividend payout ratio (DPR) is presently 7.40%.

Insider Buying and Selling at Jackson Financial

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

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in JXN. Public Sector Pension Investment Board purchased a new stake in Jackson Financial during the 3rd quarter worth about $3,444,000. American Century Companies Inc. raised its holdings in shares of Jackson Financial by 11.9% in the 3rd quarter. American Century Companies Inc. now owns 961,875 shares of the company’s stock valued at $36,763,000 after acquiring an additional 102,671 shares in the last quarter. Hudson Bay Capital Management LP purchased a new stake in shares of Jackson Financial in the 3rd quarter valued at about $7,644,000. Teachers Retirement System of The State of Kentucky purchased a new stake in shares of Jackson Financial in the 3rd quarter valued at about $871,000. Finally, Vanguard Group Inc. raised its holdings in shares of Jackson Financial by 16.1% in the 3rd quarter. Vanguard Group Inc. now owns 10,933,228 shares of the company’s stock valued at $417,868,000 after acquiring an additional 1,518,547 shares in the last quarter. Hedge funds and other institutional investors own 89.96% of the company’s stock.

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.