Jackson Financial (NYSE:JXN) Reaches New 12-Month High – Here’s What Happened

Jackson Financial Inc. (NYSE:JXN) hit a new 52-week high during trading on Wednesday . The stock traded as high as $123.61 and last traded at $118.3470, with a volume of 723067 shares traded. The stock had previously closed at $122.21.

Analyst Ratings Changes

Several equities research analysts have issued reports on JXN shares. Zacks Research upgraded shares of Jackson Financial from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 13th. Keefe, Bruyette & Woods raised their price objective on shares of Jackson Financial from $105.00 to $110.00 and gave the company a “market perform” rating in a research report on Thursday, October 9th. Morgan Stanley set a $105.00 target price on shares of Jackson Financial in a research report on Monday, December 15th. Barclays reissued an “overweight” rating and issued a $137.00 target price on shares of Jackson Financial in a research note on Thursday, January 8th. Finally, Evercore ISI set a $118.00 price target on Jackson Financial and gave the stock an “in-line” rating in a research note on Tuesday, January 6th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $113.00.

Jackson Financial Stock Performance

The company has a market cap of $8.04 billion, a P/E ratio of 16.37 and a beta of 1.45. The business has a 50 day moving average price of $108.86 and a two-hundred day moving average price of $100.38. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.27 and a current ratio of 0.27.

Jackson Financial (NYSE:JXN) last posted its quarterly earnings results on Tuesday, November 4th. The company reported $6.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.10 by $1.06. The company had revenue of $1.90 billion for the quarter, compared to the consensus estimate of $1.89 billion. During the same quarter in the previous year, the business earned $4.60 earnings per share. Jackson Financial’s revenue was down 33.2% compared to the same quarter last year. On average, sell-side analysts anticipate that Jackson Financial Inc. will post 20.55 earnings per share for the current year.

Institutional Investors Weigh In On Jackson Financial

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Acadian Asset Management LLC grew its stake in Jackson Financial by 1.5% in the second quarter. Acadian Asset Management LLC now owns 1,359,477 shares of the company’s stock worth $120,685,000 after purchasing an additional 20,212 shares during the period. JPMorgan Chase & Co. boosted its holdings in shares of Jackson Financial by 27.5% during the 2nd quarter. JPMorgan Chase & Co. now owns 662,569 shares of the company’s stock valued at $58,830,000 after buying an additional 143,091 shares in the last quarter. Donald Smith & CO. Inc. grew its position in shares of Jackson Financial by 2.0% in the 2nd quarter. Donald Smith & CO. Inc. now owns 1,699,087 shares of the company’s stock worth $150,862,000 after buying an additional 33,040 shares during the period. Federated Hermes Inc. increased its stake in shares of Jackson Financial by 6.4% in the 3rd quarter. Federated Hermes Inc. now owns 854,435 shares of the company’s stock worth $86,494,000 after acquiring an additional 51,494 shares in the last quarter. Finally, Evergreen Wealth Management LLC purchased a new position in Jackson Financial during the 2nd quarter valued at about $737,000. 89.96% of the stock is currently owned by institutional investors.

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.