Brokerages Set Jackson Financial Inc. (NYSE:JXN) PT at $109.60

Jackson Financial Inc. (NYSE:JXN) has earned a consensus recommendation of “Hold” from the seven research firms that are presently covering the stock, MarketBeat reports. One analyst has rated the stock with a sell recommendation, four have issued a hold recommendation, one has given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $109.60.

A number of research analysts have recently issued reports on the stock. Morgan Stanley set a $105.00 target price on shares of Jackson Financial in a research note on Monday, December 15th. Evercore ISI raised their price target on Jackson Financial from $100.00 to $110.00 and gave the company an “underperform” rating in a report on Thursday, October 9th. Barclays lifted their price objective on Jackson Financial from $125.00 to $128.00 and gave the company an “overweight” rating in a research report on Wednesday, November 5th. Keefe, Bruyette & Woods increased their target price on Jackson Financial from $105.00 to $110.00 and gave the stock a “market perform” rating in a report on Thursday, October 9th. Finally, Zacks Research upgraded Jackson Financial from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 13th.

Institutional Investors Weigh In On Jackson Financial

Hedge funds and other institutional investors have recently made changes to their positions in the company. CW Advisors LLC acquired a new position in shares of Jackson Financial during the first quarter valued at $547,000. Walleye Capital LLC acquired a new stake in Jackson Financial in the first quarter worth about $304,000. FORA Capital LLC raised its holdings in Jackson Financial by 42.8% during the 1st quarter. FORA Capital LLC now owns 22,058 shares of the company’s stock worth $1,848,000 after purchasing an additional 6,612 shares during the last quarter. OMERS ADMINISTRATION Corp acquired a new position in Jackson Financial during the 1st quarter valued at about $1,676,000. Finally, Trexquant Investment LP lifted its position in Jackson Financial by 156.6% during the 1st quarter. Trexquant Investment LP now owns 83,779 shares of the company’s stock valued at $7,019,000 after purchasing an additional 51,131 shares during the period. 89.96% of the stock is owned by institutional investors and hedge funds.

Jackson Financial Stock Down 0.2%

Shares of NYSE JXN opened at $108.29 on Thursday. Jackson Financial has a 52-week low of $64.70 and a 52-week high of $109.16. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.27 and a current ratio of 0.27. The business has a fifty day moving average of $99.22 and a two-hundred day moving average of $95.19. The stock has a market cap of $7.36 billion, a PE ratio of 14.98 and a beta of 1.45.

Jackson Financial (NYSE:JXN) last posted its earnings results on Wednesday, March 22nd. The company reported $6.26 earnings per share for the quarter. The business had revenue of ($1,162.00) million for the quarter. Jackson Financial had a net margin of 1.73% and a return on equity of 15.73%. As a group, equities research analysts expect that Jackson Financial will post 20.55 earnings per share for the current fiscal year.

Jackson Financial declared that its board has authorized a stock repurchase program on Thursday, September 18th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the company to buy up to 14.4% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Jackson Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, December 18th. Shareholders of record on Thursday, December 4th were paid a $0.80 dividend. The ex-dividend date of this dividend was Thursday, December 4th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 3.0%. Jackson Financial’s payout ratio is currently 44.26%.

Jackson Financial Company Profile

Jackson Financial Inc is a U.S.-based financial services holding company headquartered in Lansing, Michigan. The company operates primarily through its principal subsidiary, Jackson National Life Insurance Company, and specializes in designing and distributing retirement products. Jackson Financial has been publicly traded on the New York Stock Exchange under the ticker JXN since its initial public offering in May 2022.

The company’s core offerings include a broad range of fixed, variable and indexed annuity products aimed at helping individuals preserve and grow retirement assets.