Analysts Set Jackson Financial Inc. (NYSE:JXN) Price Target at $80.00

Shares of Jackson Financial Inc. (NYSE:JXN) have earned a consensus rating of “Hold” from the six analysts that are currently covering the company, MarketBeat Ratings reports. Five equities research analysts have rated the stock with a hold recommendation and one has issued a buy recommendation on the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $80.00.

JXN has been the topic of a number of recent analyst reports. Morgan Stanley lifted their price objective on shares of Jackson Financial from $86.00 to $89.00 and gave the company an “equal weight” rating in a research note on Monday, August 19th. Keefe, Bruyette & Woods boosted their price target on Jackson Financial from $80.00 to $82.00 and gave the stock a “market perform” rating in a report on Wednesday, August 14th. Evercore ISI reduced their price objective on Jackson Financial from $75.00 to $73.00 and set an “in-line” rating on the stock in a research note on Wednesday, June 26th. Jefferies Financial Group boosted their target price on Jackson Financial from $73.00 to $80.00 and gave the stock a “hold” rating in a research note on Monday, July 29th. Finally, Barclays started coverage on shares of Jackson Financial in a research note on Wednesday, September 4th. They issued an “overweight” rating and a $109.00 price target on the stock.

Jackson Financial Stock Performance

JXN opened at $96.55 on Thursday. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.30 and a current ratio of 0.30. Jackson Financial has a 52-week low of $35.27 and a 52-week high of $96.85. The firm has a market cap of $7.36 billion, a P/E ratio of 2.55 and a beta of 1.50. The business’s fifty day moving average is $85.64 and its 200-day moving average is $77.26.

Jackson Financial (NYSE:JXN) last announced its quarterly earnings data on Wednesday, August 7th. The company reported $5.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.32 by $1.00. The firm had revenue of $2.01 billion for the quarter, compared to analyst estimates of $1.71 billion. During the same quarter in the previous year, the company earned $3.34 earnings per share. The company’s quarterly revenue was up 5.0% on a year-over-year basis. Sell-side analysts expect that Jackson Financial will post 18.49 EPS for the current fiscal year.

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

Jackson Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, September 19th. Shareholders of record on Thursday, September 5th were given a $0.70 dividend. The ex-dividend date was Thursday, September 5th. This represents a $2.80 annualized dividend and a yield of 2.90%. Jackson Financial’s dividend payout ratio is presently 7.40%.

Insider Activity

In related news, EVP Carrie Chelko sold 5,500 shares of Jackson Financial stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $91.31, for a total transaction of $502,205.00. Following the sale, the executive vice president now directly owns 61,829 shares in the company, valued at $5,645,605.99. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.30% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Hantz Financial Services Inc. bought a new position in shares of Jackson Financial during the second quarter worth about $25,000. EverSource Wealth Advisors LLC raised its holdings in Jackson Financial by 400.0% during the 1st quarter. EverSource Wealth Advisors LLC now owns 395 shares of the company’s stock worth $27,000 after purchasing an additional 316 shares during the last quarter. GAMMA Investing LLC lifted its position in shares of Jackson Financial by 47.0% in the 1st quarter. GAMMA Investing LLC now owns 482 shares of the company’s stock worth $32,000 after purchasing an additional 154 shares during the period. Kapitalo Investimentos Ltda acquired a new stake in shares of Jackson Financial during the fourth quarter worth $57,000. Finally, Valued Wealth Advisors LLC bought a new position in Jackson Financial during the first quarter worth $66,000. 89.96% of the stock is 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.