Jackson Financial (NYSE:JXN) Price Target Raised to $84.00

Jackson Financial (NYSE:JXN) had its price target boosted by investment analysts at Morgan Stanley from $82.00 to $84.00 in a research note issued to investors on Wednesday, Benzinga reports. The firm presently has an “equal weight” rating on the stock. Morgan Stanley’s price target suggests a potential upside of 8.08% from the stock’s current price.

Other equities analysts have also issued research reports about the stock. Keefe, Bruyette & Woods lowered shares of Jackson Financial from an “outperform” rating to a “market perform” rating and raised their price objective for the company from $75.00 to $80.00 in a research report on Tuesday, May 14th. Jefferies Financial Group increased their price target on Jackson Financial from $62.00 to $70.00 and gave the company a “hold” rating in a report on Friday, June 28th. Finally, Evercore ISI lowered their price target on Jackson Financial from $75.00 to $73.00 and set an “in-line” rating on the stock in a report on Wednesday, June 26th. Five investment analysts have rated the stock with a hold rating, According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $70.80.

Jackson Financial Price Performance

NYSE JXN opened at $77.72 on Wednesday. The firm has a market capitalization of $5.93 billion, a price-to-earnings ratio of 2.05 and a beta of 1.51. The company has a 50 day simple moving average of $74.50 and a 200-day simple moving average of $63.31. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.32 and a quick ratio of 0.32. Jackson Financial has a 52-week low of $31.40 and a 52-week high of $81.52.

Jackson Financial (NYSE:JXN) last issued its quarterly earnings data on Wednesday, May 8th. The company reported $4.23 earnings per share for the quarter, beating the consensus estimate of $3.67 by $0.56. The business had revenue of $2 billion for the quarter, compared to the consensus estimate of $1.67 billion. Jackson Financial’s revenue was up 5.8% compared to the same quarter last year. During the same period in the previous year, the business posted $3.15 EPS. Equities research analysts predict that Jackson Financial will post 16.98 earnings per share for the current fiscal year.

Insider Transactions at Jackson Financial

In related news, CFO Don W. Cummings acquired 1,445 shares of the stock in a transaction dated Wednesday, June 5th. The shares were acquired at an average price of $72.70 per share, for a total transaction of $105,051.50. Following the completion of the purchase, the chief financial officer now owns 45,711 shares in the company, valued at approximately $3,323,189.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Jackson Financial news, CFO Don W. Cummings purchased 1,445 shares of the firm’s stock in a transaction on Wednesday, June 5th. The shares were purchased at an average price of $72.70 per share, for a total transaction of $105,051.50. Following the completion of the purchase, the chief financial officer now directly owns 45,711 shares of the company’s stock, valued at $3,323,189.70. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, COO Devkumar Dilip Ganguly sold 13,000 shares of Jackson Financial stock in a transaction on Friday, May 10th. The stock was sold at an average price of $75.67, for a total transaction of $983,710.00. Following the sale, the chief operating officer now owns 93,405 shares in the company, valued at approximately $7,067,956.35. The disclosure for this sale can be found here. 1.30% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Jackson Financial

Institutional investors have recently bought and sold shares of the business. Assetmark Inc. acquired a new stake in Jackson Financial during the fourth quarter worth $2,270,000. FORA Capital LLC boosted its stake in shares of Jackson Financial by 399.7% in the 1st quarter. FORA Capital LLC now owns 27,894 shares of the company’s stock valued at $1,845,000 after purchasing an additional 22,312 shares in the last quarter. Advisors Preferred LLC acquired a new stake in shares of Jackson Financial in the 4th quarter valued at $1,680,000. Teachers Retirement System of The State of Kentucky acquired a new stake in shares of Jackson Financial in the 3rd quarter valued at $871,000. Finally, Goldman Sachs Group Inc. boosted its stake in shares of Jackson Financial by 6.9% in the 4th 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 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.