Jackson Financial (NYSE:JXN) Sets New 52-Week High – Time to Buy?

Jackson Financial Inc. (NYSE:JXN) reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $123.68 and last traded at $123.8010, with a volume of 50502 shares changing hands. The stock had previously closed at $121.92.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on JXN. Jefferies Financial Group raised shares of Jackson Financial from a “hold” rating to a “buy” rating and raised their target price for the stock from $120.00 to $140.00 in a report on Friday, July 10th. Keefe, Bruyette & Woods increased their price target on Jackson Financial from $125.00 to $130.00 and gave the stock a “market perform” rating in a research report on Monday. Wall Street Zen lowered Jackson Financial from a “buy” rating to a “hold” rating in a research note on Saturday, April 11th. Weiss Ratings cut Jackson Financial from a “hold (c)” rating to a “hold (c-)” rating in a report on Tuesday, May 12th. Finally, Barclays upped their target price on Jackson Financial from $136.00 to $139.00 and gave the company an “overweight” rating in a research report on Tuesday, July 7th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $126.40.

Jackson Financial Stock Performance

The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.27 and a current ratio of 0.27. The company has a market cap of $8.69 billion, a P/E ratio of -20.39 and a beta of 1.32. The stock’s fifty day moving average price is $108.39 and its two-hundred day moving average price is $109.93.

Jackson Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 25th. Shareholders of record on Thursday, June 11th were issued a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date of this dividend was Thursday, June 11th. Jackson Financial’s dividend payout ratio (DPR) is currently -58.92%.

Hedge Funds Weigh In On Jackson Financial

Institutional investors have recently modified their holdings of the business. Allworth Financial LP grew its position in Jackson Financial by 404.0% in the third quarter. Allworth Financial LP now owns 252 shares of the company’s stock valued at $26,000 after acquiring an additional 202 shares during the last quarter. Rothschild Investment LLC lifted its holdings in shares of Jackson Financial by 79.9% in the fourth quarter. Rothschild Investment LLC now owns 322 shares of the company’s stock worth $34,000 after acquiring an additional 143 shares during the last quarter. Plato Investment Management Ltd bought a new position in shares of Jackson Financial in the fourth quarter worth about $35,000. Advisory Services Network LLC acquired a new stake in shares of Jackson Financial in the 3rd quarter valued at approximately $37,000. Finally, Signature Equity Partners LLC bought a new stake in shares of Jackson Financial during the 1st quarter valued at approximately $38,000. Institutional investors and hedge funds own 89.96% of the company’s stock.

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.