Barclays Initiates Coverage on Jackson Financial (NYSE:JXN)

Barclays started coverage on shares of Jackson Financial (NYSE:JXN) in a research note published on Wednesday, MarketBeat.com reports. The firm issued an overweight rating and a $109.00 target price on the stock.

Several other analysts have also recently commented on JXN. Jefferies Financial Group raised their price objective on shares of Jackson Financial from $73.00 to $80.00 and gave the company a hold rating in a research note on Monday, July 29th. Morgan Stanley lifted their price target on shares of Jackson Financial from $86.00 to $89.00 and gave the company an equal weight rating in a research report on Monday, August 19th. 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. Finally, Keefe, Bruyette & Woods lifted their price objective on Jackson Financial from $80.00 to $82.00 and gave the stock a market perform rating in a report on Wednesday, August 14th. Five investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of Hold and an average price target of $80.00.

Jackson Financial Stock Performance

NYSE JXN opened at $81.20 on Wednesday. The stock has a market capitalization of $6.19 billion, a price-to-earnings ratio of 2.14 and a beta of 1.50. The business’s 50 day moving average is $82.30 and its two-hundred day moving average is $72.80. Jackson Financial has a 12-month low of $35.27 and a 12-month high of $90.10. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.42.

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

Jackson Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 19th. Shareholders of record on Thursday, September 5th will be issued a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 3.45%. The ex-dividend date is Thursday, September 5th. Jackson Financial’s dividend payout ratio (DPR) is presently 7.40%.

Institutional Trading of Jackson Financial

Institutional investors and hedge funds have recently made changes to their positions in the stock. Asset Allocation Strategies LLC raised its stake in Jackson Financial by 0.6% in the 2nd quarter. Asset Allocation Strategies LLC now owns 18,926 shares of the company’s stock valued at $1,405,000 after purchasing an additional 119 shares during the last quarter. GAMMA Investing LLC boosted its holdings in shares of Jackson Financial by 47.0% during the first quarter. GAMMA Investing LLC now owns 482 shares of the company’s stock worth $32,000 after purchasing an additional 154 shares during the last quarter. Private Advisor Group LLC boosted its stake in Jackson Financial by 1.2% in the 2nd quarter. Private Advisor Group LLC now owns 14,962 shares of the company’s stock worth $1,111,000 after buying an additional 178 shares during the last quarter. International Assets Investment Management LLC boosted its position in shares of Jackson Financial by 2.0% in the second quarter. International Assets Investment Management LLC now owns 9,954 shares of the company’s stock worth $739,000 after acquiring an additional 199 shares during the last quarter. Finally, Hexagon Capital Partners LLC grew its stake in shares of Jackson Financial by 18.1% during the 1st quarter. Hexagon Capital Partners LLC now owns 1,532 shares of the company’s stock valued at $101,000 after buying an additional 235 shares during the period. 89.96% of the stock is currently owned by hedge funds and other institutional investors.

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.