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

Shares of Jackson Financial Inc. (NYSE:JXN) hit a new 52-week high during mid-day trading on Wednesday . The company 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.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on JXN shares. Keefe, Bruyette & Woods upped their target price on Jackson Financial from $105.00 to $110.00 and gave the stock a “market perform” rating in a research note on Thursday, October 9th. Evercore set a $118.00 price objective on Jackson Financial and gave the stock an “in-line” rating in a report on Tuesday, January 6th. Zacks Research raised shares of Jackson Financial from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 13th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Jackson Financial in a research report on Monday, December 29th. Finally, Morgan Stanley set a $105.00 price target on shares of Jackson Financial in a report on Monday, December 15th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $113.00.

Jackson Financial Price Performance

The stock has a market cap of $8.14 billion, a PE ratio of 16.57 and a beta of 1.45. The business’s 50-day simple moving average is $109.61 and its 200-day simple moving average is $100.61. The company has a quick ratio of 0.27, a current ratio of 0.27 and a debt-to-equity ratio of 0.47.

Jackson Financial (NYSE:JXN) last posted its 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 business had revenue of $1.90 billion during the quarter, compared to the consensus estimate of $1.89 billion. The firm’s revenue for the quarter was down 33.2% compared to the same quarter last year. During the same period in the previous year, the business earned $4.60 earnings per share. On average, research analysts expect that Jackson Financial Inc. will post 20.55 EPS for the current fiscal year.

Institutional Trading of Jackson Financial

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Allworth Financial LP increased its position in Jackson Financial by 404.0% during the 3rd quarter. Allworth Financial LP now owns 252 shares of the company’s stock valued at $26,000 after purchasing an additional 202 shares during the period. Cullen Frost Bankers Inc. bought a new stake in shares of Jackson Financial during the 3rd quarter valued at about $28,000. Twin Peaks Wealth Advisors LLC purchased a new position in shares of Jackson Financial during the second quarter valued at about $30,000. Optiver Holding B.V. raised its stake in Jackson Financial by 469.2% in the third quarter. Optiver Holding B.V. now owns 296 shares of the company’s stock worth $30,000 after buying an additional 244 shares in the last quarter. Finally, Bayforest Capital Ltd raised its stake in Jackson Financial by 541.2% in the third quarter. Bayforest Capital Ltd now owns 327 shares of the company’s stock worth $33,000 after buying an additional 276 shares in the last quarter. Hedge funds and other institutional investors 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.