Jackson Financial (NYSE:JXN) Given New $82.00 Price Target at Keefe, Bruyette & Woods

Jackson Financial (NYSE:JXN) had its price objective upped by Keefe, Bruyette & Woods from $80.00 to $82.00 in a research note published on Wednesday, Benzinga reports. They currently have a market perform rating on the stock.

A number of other equities analysts have also recently commented on the stock. Morgan Stanley boosted 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 note on Wednesday, July 10th. Evercore ISI cut their target price 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 increased their target price on Jackson Financial from $73.00 to $80.00 and gave the company a hold rating in a research note on Monday, July 29th. Five research analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the company presently has an average rating of Hold and an average target price of $73.20.

Jackson Financial Stock Performance

NYSE:JXN opened at $84.70 on Wednesday. The business’s fifty day moving average is $77.62 and its 200 day moving average is $68.77. The firm has a market cap of $6.46 billion, a price-to-earnings ratio of 2.24 and a beta of 1.51. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.32 and a current ratio of 0.32. Jackson Financial has a 52-week low of $32.84 and a 52-week high of $89.63.

Jackson Financial (NYSE:JXN) last issued its quarterly earnings data on Wednesday, August 7th. The company reported $5.32 EPS for the quarter, beating the consensus estimate of $4.32 by $1.00. The firm had revenue of $2.01 billion for the quarter, compared to analysts’ expectations of $1.71 billion. Jackson Financial’s revenue was up 5.0% on a year-over-year basis. During the same period in the prior year, the firm posted $3.34 EPS. Research analysts predict that Jackson Financial will post 17.33 EPS for the current year.

Jackson Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 19th. Investors of record on Thursday, September 5th will be paid a $0.70 dividend. The ex-dividend date is Thursday, September 5th. This represents a $2.80 annualized dividend and a dividend yield of 3.31%. Jackson Financial’s payout ratio is presently 7.40%.

Insider Buying and Selling at Jackson Financial

In other Jackson Financial news, CFO Don W. Cummings bought 1,445 shares of the firm’s stock in a transaction that occurred on Wednesday, June 5th. The stock was bought at an average price 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 document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 1.30% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Dimensional Fund Advisors LP lifted its position in Jackson Financial by 3.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 4,471,335 shares of the company’s stock valued at $332,035,000 after acquiring an additional 163,598 shares during the period. Donald Smith & CO. Inc. lifted its holdings in shares of Jackson Financial by 20.1% during the first quarter. Donald Smith & CO. Inc. now owns 2,376,476 shares of the company’s stock valued at $157,180,000 after purchasing an additional 397,287 shares during the last quarter. Goldman Sachs Group Inc. lifted its holdings in shares of Jackson Financial by 6.9% during the fourth quarter. Goldman Sachs Group Inc. now owns 1,738,688 shares of the company’s stock valued at $89,021,000 after purchasing an additional 111,875 shares during the last quarter. American Century Companies Inc. boosted its position in shares of Jackson Financial by 6.5% in the 2nd quarter. American Century Companies Inc. now owns 1,623,071 shares of the company’s stock worth $120,529,000 after purchasing an additional 98,792 shares in the last quarter. Finally, Acadian Asset Management LLC grew its stake in shares of Jackson Financial by 146.3% in the 2nd quarter. Acadian Asset Management LLC now owns 1,219,218 shares of the company’s stock worth $90,525,000 after buying an additional 724,148 shares during the last quarter. 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.