Jackson Financial (NYSE:JXN) Sets New 12-Month High at $90.16

Shares of Jackson Financial Inc. (NYSE:JXN) hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $90.16 and last traded at $89.80, with a volume of 11907 shares trading hands. The stock had previously closed at $87.07.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on JXN. Evercore ISI decreased their price objective 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. Keefe, Bruyette & Woods raised their price target on Jackson Financial from $80.00 to $82.00 and gave the company a “market perform” rating in a research note on Wednesday, August 14th. Morgan Stanley boosted their price target on Jackson Financial from $86.00 to $89.00 and gave the stock an “equal weight” rating in a research report on Monday, August 19th. Barclays assumed coverage on Jackson Financial in a report on Wednesday, September 4th. They issued an “overweight” rating and a $109.00 price objective for the company. Finally, Jefferies Financial Group boosted their target price on shares of Jackson Financial from $73.00 to $80.00 and gave the stock a “hold” rating in a report on Monday, July 29th. Five investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, Jackson Financial presently has a consensus rating of “Hold” and a consensus price target of $80.00.

Jackson Financial Price Performance

The business has a fifty day moving average of $84.13 and a two-hundred day moving average of $74.98. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.30 and a current ratio of 0.30. The firm has a market capitalization of $6.88 billion, a price-to-earnings ratio of 2.38 and a beta of 1.50.

Jackson Financial (NYSE:JXN) last released 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 company had revenue of $2.01 billion during the quarter, compared to analyst estimates of $1.71 billion. Jackson Financial’s revenue for the quarter was up 5.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.34 earnings per share. As a group, research analysts predict that Jackson Financial Inc. will post 18.49 EPS for the current fiscal year.

Jackson Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 19th. Shareholders of record on Thursday, September 5th were issued a $0.70 dividend. The ex-dividend date of this dividend was Thursday, September 5th. This represents a $2.80 annualized dividend and a yield of 3.10%. Jackson Financial’s dividend payout ratio is currently 7.40%.

Jackson Financial announced that its Board of Directors has initiated a share repurchase program on Wednesday, August 7th that permits the company to buyback $750.00 million in shares. This buyback authorization permits the company to buy up to 10.8% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.

Hedge Funds Weigh In On Jackson Financial

Institutional investors and hedge funds have recently made changes to their positions in the company. Assetmark Inc. acquired a new position in Jackson Financial in the 4th quarter valued at $2,270,000. Cetera Investment Advisers bought a new position in Jackson Financial during the first quarter worth about $3,812,000. FORA Capital LLC raised its stake in Jackson Financial by 399.7% in the 1st quarter. FORA Capital LLC now owns 27,894 shares of the company’s stock worth $1,845,000 after purchasing an additional 22,312 shares in the last quarter. O Shaughnessy Asset Management LLC boosted its holdings in Jackson Financial by 32.1% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 61,139 shares of the company’s stock valued at $4,044,000 after purchasing an additional 14,848 shares during the period. Finally, B. Riley Wealth Advisors Inc. grew its position in shares of Jackson Financial by 16.5% during the 1st quarter. B. Riley Wealth Advisors Inc. now owns 41,031 shares of the company’s stock worth $2,714,000 after purchasing an additional 5,819 shares in the last quarter. Institutional investors and hedge funds 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.