Jackson Financial (NYSE:JXN) Reaches New 1-Year High – Still a Buy?

Jackson Financial Inc. (NYSE:JXN) hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $138.25 and last traded at $137.7560, with a volume of 49881 shares trading hands. The stock had previously closed at $132.78.

Analyst Ratings Changes

Several analysts have recently commented on the stock. Weiss Ratings raised shares of Jackson Financial from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday, August 4th. Keefe, Bruyette & Woods increased their target price on shares of Jackson Financial from $130.00 to $140.00 and gave the stock a “market perform” rating in a research note on Wednesday, August 5th. Barclays upped their price objective on shares of Jackson Financial from $139.00 to $149.00 and gave the stock an “overweight” rating in a report on Tuesday, August 4th. Jefferies Financial Group raised Jackson Financial from a “hold” rating to a “buy” rating and increased their price target for the company from $120.00 to $140.00 in a research report on Friday, July 10th. Finally, Evercore set a $135.00 price objective on shares of Jackson Financial in a report on Wednesday, August 5th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, Jackson Financial currently has an average rating of “Moderate Buy” and a consensus price target of $133.80.

Jackson Financial Stock Up 3.1%

The company has a debt-to-equity ratio of 0.53, a current ratio of 0.26 and a quick ratio of 0.26. The firm’s 50 day moving average price is $122.75 and its two-hundred day moving average price is $113.52. The firm has a market cap of $9.27 billion, a price-to-earnings ratio of 192.86 and a beta of 1.30.

Jackson Financial (NYSE:JXN) last posted its quarterly earnings results on Monday, August 3rd. The company reported $7.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.72 by $1.58. The firm had revenue of $2 billion during the quarter, compared to analysts’ expectations of $1.91 billion. Jackson Financial had a net margin of 1.59% and a return on equity of 18.93%.

Jackson Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 24th. Shareholders of record on Tuesday, September 15th will be given a dividend of $0.90 per share. The ex-dividend date is Tuesday, September 15th. This represents a $3.60 annualized dividend and a yield of 2.6%. Jackson Financial’s payout ratio is presently 507.04%.

Insider Buying and Selling

In related news, CEO Christopher Raub sold 5,000 shares of the firm’s stock in a transaction dated Wednesday, August 12th. The shares were sold at an average price of $130.69, for a total value of $653,450.00. Following the completion of the sale, the chief executive officer owned 42,160 shares in the company, valued at $5,509,890.40. This trade represents a 10.60% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Carrie Chelko sold 7,500 shares of the company’s stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $134.24, for a total transaction of $1,006,800.00. Following the transaction, the executive vice president owned 80,914 shares in the company, valued at $10,861,895.36. The trade was a 8.48% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 1.40% of the company’s stock.

Institutional Trading of Jackson Financial

Institutional investors have recently bought and sold shares of the company. Allworth Financial LP boosted its position in shares of Jackson Financial by 404.0% in the 3rd quarter. Allworth Financial LP now owns 252 shares of the company’s stock worth $26,000 after buying an additional 202 shares in the last quarter. Rothschild Investment LLC grew its position in shares of Jackson Financial by 79.9% in the fourth quarter. Rothschild Investment LLC now owns 322 shares of the company’s stock valued at $34,000 after purchasing an additional 143 shares during the last quarter. Plato Investment Management Ltd purchased a new stake in shares of Jackson Financial in the fourth quarter valued at $35,000. Advisory Services Network LLC purchased a new stake in shares of Jackson Financial during the 3rd quarter valued at $37,000. Finally, Signature Equity Partners LLC acquired a new position in Jackson Financial in the first quarter valued at $38,000. 89.96% of the stock is currently owned by hedge funds and other institutional investors.

About Jackson Financial

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.