Jackson Financial (NYSE:JXN) Stock Rating Cut to Hold at Wall Street Zen

Wall Street Zen downgraded shares of Jackson Financial (NYSE:JXN) from a buy rating to a hold rating in a research note issued to investors on Saturday,Wall Street Zen reports.

JXN has been the topic of several other research reports. Evercore set a $135.00 target price on shares of Jackson Financial in a report on Wednesday, August 5th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Jackson Financial in a research report on Monday, November 2nd. Jefferies Financial Group upgraded shares of Jackson Financial from a “hold” rating to a “buy” rating and boosted their target price for the company from $120.00 to $140.00 in a research note on Friday, July 10th. Barclays increased their price target on Jackson Financial from $151.00 to $154.00 and gave the company an “overweight” rating in a report on Wednesday. Finally, Keefe, Bruyette & Woods restated a “market perform” rating and issued a $140.00 price target on shares of Jackson Financial in a research note on Friday, September 18th. Two investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $134.80.

Jackson Financial Price Performance

JXN opened at $131.13 on Friday. The company’s 50-day simple moving average is $133.45 and its two-hundred day simple moving average is $118.64. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.26 and a current ratio of 0.22. The stock has a market capitalization of $8.88 billion, a P/E ratio of 10.78 and a beta of 1.34. Jackson Financial has a 52-week low of $89.67 and a 52-week high of $150.00.

Jackson Financial (NYSE:JXN) last announced its quarterly earnings results on Tuesday, November 3rd. The company reported $7.55 EPS for the quarter, topping analysts’ consensus estimates of $7.24 by $0.31. Jackson Financial had a net margin of 13.41% and a return on equity of 20.46%. The firm had revenue of $2.07 billion during the quarter, compared to analyst estimates of $2.07 billion.

Jackson Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 17th. Investors of record on Thursday, December 3rd will be given a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a yield of 2.7%. The ex-dividend date is Thursday, December 3rd. Jackson Financial’s payout ratio is 29.61%.

Insider Transactions at Jackson Financial

In other Jackson Financial news, CEO Christopher Raub sold 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 12th. The shares were sold at an average price of $130.69, for a total transaction of $653,450.00. Following the completion of the sale, the chief executive officer directly owned 42,160 shares of the company’s stock, valued at approximately $5,509,890.40. This represents a 10.60% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.40% of the company’s stock.

Institutional Investors Weigh In On Jackson Financial

A number of hedge funds have recently modified their holdings of the business. Addison Advisors LLC bought a new stake in Jackson Financial during the third quarter worth approximately $71,000. Russell Investments Group Ltd. raised its position in Jackson Financial by 7.0% during the third quarter. Russell Investments Group Ltd. now owns 300,547 shares of the company’s stock valued at $39,078,000 after purchasing an additional 19,622 shares during the period. Ariadne Wealth Management LP raised its position in Jackson Financial by 2.4% during the third quarter. Ariadne Wealth Management LP now owns 5,880 shares of the company’s stock valued at $760,000 after purchasing an additional 140 shares during the period. Maryland State Retirement & Pension System lifted its stake in shares of Jackson Financial by 36.8% in the 3rd quarter. Maryland State Retirement & Pension System now owns 13,877 shares of the company’s stock valued at $1,795,000 after purchasing an additional 3,733 shares during the last quarter. Finally, Advisor Resource Council bought a new stake in shares of Jackson Financial in the 3rd quarter valued at approximately $219,000. Institutional investors own 89.96% of the company’s stock.

About Jackson Financial

Jackson Financial Inc is a U.S. financial services company focused on retirement planning. Through its subsidiaries, including Jackson National Life Insurance Company, it offers annuity products designed to help individuals build and manage retirement income. Its offerings include variable, fixed, fixed-indexed and registered index-linked annuities.

The company serves individuals and financial professionals across the United States, distributing its products through a network of independent financial advisers and other financial services firms.