Jackson Financial (NYSE:JXN) Sets New 1-Year High at $85.46

Jackson Financial Inc. (NYSE:JXN)’s stock price hit a new 52-week high during trading on Tuesday . The stock traded as high as $85.46 and last traded at $85.13, with a volume of 136357 shares. The stock had previously closed at $84.10.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on JXN shares. Keefe, Bruyette & Woods cut shares of Jackson Financial from an “outperform” rating to a “market perform” rating and lifted their price target for the stock from $75.00 to $80.00 in a research report on Tuesday, May 14th. Morgan Stanley lifted their price target on shares of Jackson Financial from $82.00 to $84.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 10th. Evercore ISI lowered their price target on shares of Jackson Financial from $75.00 to $73.00 and set an “in-line” rating for the company in a research report on Wednesday, June 26th. Finally, Jefferies Financial Group boosted their price objective on shares of Jackson Financial from $62.00 to $70.00 and gave the company a “hold” rating in a report on Friday, June 28th. Five investment analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, Jackson Financial currently has a consensus rating of “Hold” and a consensus target price of $70.80.

Jackson Financial Stock Performance

The company has a debt-to-equity ratio of 0.42, a current ratio of 0.32 and a quick ratio of 0.32. The stock’s 50 day simple moving average is $76.12 and its two-hundred day simple moving average is $65.53. The stock has a market cap of $6.51 billion, a P/E ratio of 2.25 and a beta of 1.51.

Jackson Financial (NYSE:JXN) last announced its quarterly earnings data on Wednesday, May 8th. The company reported $4.23 EPS for the quarter, topping analysts’ consensus estimates of $3.67 by $0.56. The business had revenue of $2 billion during the quarter, compared to the consensus estimate of $1.67 billion. The business’s revenue for the quarter was up 5.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.15 EPS. As a group, research analysts forecast that Jackson Financial Inc. will post 17.33 EPS for the current year.

Jackson Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 20th. Stockholders of record on Thursday, June 6th were given a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.28%. The ex-dividend date was Thursday, June 6th. Jackson Financial’s dividend payout ratio is presently 7.40%.

Insiders Place Their Bets

In other news, CFO Don W. Cummings purchased 1,445 shares of the company’s stock in a transaction on Wednesday, June 5th. The shares were purchased at an average cost of $72.70 per share, with a total value of $105,051.50. Following the completion of the transaction, the chief financial officer now owns 45,711 shares of the company’s stock, valued at approximately $3,323,189.70. The transaction was disclosed in a filing with the SEC, which is available through this link. In related news, CFO Don W. Cummings acquired 1,445 shares of the firm’s stock in a transaction on Wednesday, June 5th. The shares were purchased at an average cost of $72.70 per share, for a total transaction of $105,051.50. Following the completion of the acquisition, the chief financial officer now directly owns 45,711 shares in the company, valued at $3,323,189.70. The purchase was disclosed in a filing with the SEC, which is available at this link. 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 transaction of $983,710.00. Following the completion of the transaction, the chief operating officer now owns 93,405 shares in the company, valued at $7,067,956.35. The disclosure for this sale can be found here. Insiders own 1.30% of the company’s stock.

Hedge Funds Weigh In On Jackson Financial

Several institutional investors and hedge funds have recently modified their holdings of JXN. Norges Bank acquired a new position in shares of Jackson Financial in the fourth quarter valued at about $51,189,000. Donald Smith & CO. Inc. grew its stake in shares of Jackson Financial by 36.5% in the fourth quarter. Donald Smith & CO. Inc. now owns 1,979,189 shares of the company’s stock valued at $101,334,000 after acquiring an additional 528,976 shares in the last quarter. International Assets Investment Management LLC acquired a new position in shares of Jackson Financial in the fourth quarter valued at about $25,459,000. Dimensional Fund Advisors LP grew its stake in shares of Jackson Financial by 10.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 4,175,970 shares of the company’s stock valued at $213,813,000 after acquiring an additional 399,665 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund acquired a new position in shares of Jackson Financial in the first quarter valued at about $21,892,000. 89.96% of the stock is currently owned by institutional investors and hedge funds.

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.