Brokerages Set Jackson Financial Inc. (NYSE:JXN) Target Price at $84.00

Jackson Financial Inc. (NYSE:JXN) has been given a consensus recommendation of “Hold” by the six ratings firms that are covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $84.00.

JXN has been the subject of a number of recent analyst reports. Evercore ISI downgraded shares of Jackson Financial from an “in-line” rating to an “underperform” rating and upped their price target for the stock from $74.00 to $95.00 in a report on Thursday, November 14th. Barclays upped their price target on shares of Jackson Financial from $109.00 to $111.00 and gave the stock an “overweight” rating in a report on Tuesday, October 8th. Keefe, Bruyette & Woods upped their price target 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. Finally, Morgan Stanley upped their price target on shares of Jackson Financial from $86.00 to $89.00 and gave the stock an “equal weight” rating in a report on Monday, August 19th.

Insider Buying and Selling

In related news, EVP Carrie Chelko sold 5,500 shares of the company’s 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 completion of the transaction, the executive vice president now directly owns 61,829 shares in the company, valued at $5,645,605.99. This represents a 8.17 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 1.30% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Jackson Financial

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP increased its position in Jackson Financial by 3.8% in 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. State Street Corp increased its position in Jackson Financial by 4.9% in the 3rd quarter. State Street Corp now owns 3,266,981 shares of the company’s stock valued at $298,047,000 after acquiring an additional 153,326 shares during the period. Geode Capital Management LLC increased its position in Jackson Financial by 7.4% in the 3rd quarter. Geode Capital Management LLC now owns 2,086,155 shares of the company’s stock valued at $194,187,000 after acquiring an additional 144,530 shares during the period. American Century Companies Inc. increased its position in Jackson Financial by 6.5% in the 2nd quarter. American Century Companies Inc. now owns 1,623,071 shares of the company’s stock valued at $120,529,000 after acquiring an additional 98,792 shares during the period. Finally, Acadian Asset Management LLC increased its position in Jackson Financial by 146.3% in the 2nd quarter. Acadian Asset Management LLC now owns 1,219,218 shares of the company’s stock valued at $90,525,000 after acquiring an additional 724,148 shares during the period. 89.96% of the stock is currently owned by institutional investors and hedge funds.

Jackson Financial Stock Performance

NYSE JXN opened at $102.40 on Friday. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.42. The company has a market capitalization of $7.56 billion, a P/E ratio of -8.10 and a beta of 1.48. Jackson Financial has a 12-month low of $46.05 and a 12-month high of $115.22. The firm has a 50-day moving average price of $98.39 and a two-hundred day moving average price of $85.95.

Jackson Financial (NYSE:JXN) last posted its quarterly earnings data 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 business had revenue of $2.12 billion for the quarter, compared to analysts’ expectations of $1.73 billion. During the same period in the prior year, the company earned $3.80 earnings per share. Analysts anticipate that Jackson Financial will post 18.8 earnings per share for the current year.

Jackson Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Thursday, December 5th will be given a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 2.73%. The ex-dividend date is Thursday, December 5th. Jackson Financial’s dividend payout ratio is -22.15%.

Jackson Financial declared that its board has initiated a share buyback program 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 programs are often an indication that the company’s board of directors believes its shares are undervalued.

Jackson Financial Company Profile

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.