Jackson Financial (NYSE:JXN) Stock Rating Lowered by Evercore ISI

Evercore ISI cut shares of Jackson Financial (NYSE:JXN) from an in-line rating to an underperform rating in a research report sent to investors on Thursday morning, MarketBeat.com reports. The brokerage currently has $95.00 target price on the stock, up from their prior target price of $74.00.

JXN has been the subject of a number of other research reports. Jefferies Financial Group increased their target price on shares of Jackson Financial from $73.00 to $80.00 and gave the stock a “hold” rating in a research report on Monday, July 29th. Keefe, Bruyette & Woods increased their target price on shares of Jackson Financial from $80.00 to $82.00 and gave the stock a “market perform” rating in a report on Wednesday, August 14th. Barclays boosted their price objective on shares of Jackson Financial from $109.00 to $111.00 and gave the company an “overweight” rating in a research report on Tuesday, October 8th. Finally, Morgan Stanley increased their price objective on shares of Jackson Financial from $86.00 to $89.00 and gave the stock an “equal weight” rating in a research note on Monday, August 19th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $84.00.

Jackson Financial Price Performance

Shares of NYSE:JXN opened at $100.63 on Thursday. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.30 and a quick ratio of 0.30. The stock has a market capitalization of $7.57 billion, a P/E ratio of -7.96 and a beta of 1.48. The business has a 50-day moving average of $96.14 and a two-hundred day moving average of $84.68. Jackson Financial has a fifty-two week low of $44.40 and a fifty-two week high of $115.22.

Jackson Financial (NYSE:JXN) last announced its earnings results on Wednesday, November 6th. The company reported $4.60 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.67 by ($0.07). The company had revenue of $2.12 billion for the quarter, compared to analyst estimates of $1.73 billion. During the same quarter in the prior year, the business earned $3.80 earnings per share. On average, equities research analysts predict that Jackson Financial will post 18.8 EPS for the current fiscal year.

Jackson Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Thursday, December 5th will be paid a $0.70 dividend. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $2.80 annualized dividend and a yield of 2.78%. Jackson Financial’s dividend payout ratio (DPR) is presently -22.15%.

Jackson Financial announced that its board has authorized a share repurchase plan on Wednesday, August 7th that authorizes the company to buyback $750.00 million in shares. This buyback authorization authorizes the company to repurchase up to 10.8% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board believes its stock is undervalued.

Insider Activity

In related news, EVP Carrie Chelko sold 5,500 shares of the firm’s stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $91.31, for a total value of $502,205.00. Following the sale, the executive vice president now directly owns 61,829 shares of the company’s stock, valued at $5,645,605.99. This trade represents a 8.17 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 1.30% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of JXN. SG Americas Securities LLC lifted its holdings in shares of Jackson Financial by 74.8% during the first quarter. SG Americas Securities LLC now owns 3,712 shares of the company’s stock worth $246,000 after purchasing an additional 1,588 shares during the period. Headlands Technologies LLC lifted its position in shares of Jackson Financial by 41.2% during the first quarter. Headlands Technologies LLC now owns 1,055 shares of the company’s stock valued at $70,000 after purchasing an additional 308 shares in the last quarter. Russell Investments Group Ltd. boosted its position in Jackson Financial by 14.9% in the first quarter. Russell Investments Group Ltd. now owns 308,288 shares of the company’s stock worth $20,378,000 after purchasing an additional 40,001 shares during the last quarter. US Bancorp DE boosted its stake in Jackson Financial by 33,231.3% in the first quarter. US Bancorp DE now owns 10,666 shares of the company’s stock valued at $705,000 after acquiring an additional 10,634 shares during the last quarter. Finally, ProShare Advisors LLC grew its stake in shares of Jackson Financial by 4.0% during the 1st quarter. ProShare Advisors LLC now owns 15,902 shares of the company’s stock worth $1,052,000 after acquiring an additional 612 shares during the period. 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.