Jackson Financial (NYSE:JXN) Reaches New 12-Month High – Still a Buy?

Shares of Jackson Financial Inc. (NYSE:JXN) reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $140.88 and last traded at $138.0420, with a volume of 748381 shares trading hands. The stock had previously closed at $140.63.

Wall Street Analysts Forecast Growth

A number of research firms have commented on JXN. Weiss Ratings raised Jackson Financial from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday, August 4th. Keefe, Bruyette & Woods increased their price objective on Jackson Financial from $130.00 to $140.00 and gave the company a “market perform” rating in a research report on Wednesday, August 5th. Barclays lifted their price objective on 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 upgraded shares of Jackson Financial from a “hold” rating to a “buy” rating and upped their target price for the company from $120.00 to $140.00 in a research note on Friday, July 10th. Finally, Evercore set a $135.00 price target on shares of Jackson Financial in a report on Wednesday, August 5th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $133.80.

Jackson Financial Stock Performance

The business’s 50 day moving average is $126.77 and its two-hundred day moving average is $114.56. The company has a market cap of $9.37 billion, a PE ratio of 194.89 and a beta of 1.30. The company has a current ratio of 0.26, a quick ratio of 0.26 and a debt-to-equity ratio of 0.53.

Jackson Financial (NYSE:JXN) last announced its quarterly earnings results on Monday, August 3rd. The company reported $7.30 EPS for the quarter, topping the consensus estimate of $5.72 by $1.58. The business had revenue of $2 billion for 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 Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 24th. Investors of record on Tuesday, September 15th will be issued a $0.90 dividend. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $3.60 dividend on an annualized basis and a dividend yield of 2.6%. Jackson Financial’s dividend payout ratio (DPR) is presently 507.04%.

Insider Activity

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 stock was sold at an average price of $130.69, for a total transaction of $653,450.00. Following the sale, the chief executive officer directly owned 42,160 shares in the company, valued at $5,509,890.40. This represents a 10.60% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Carrie Chelko sold 7,500 shares of the firm’s stock in a transaction that occurred on Wednesday, August 5th. The shares were sold at an average price of $134.24, for a total value of $1,006,800.00. Following the completion of the sale, the executive vice president directly owned 80,914 shares of the company’s stock, valued at $10,861,895.36. The trade was a 8.48% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 1.40% of the company’s stock.

Institutional Trading of Jackson Financial

Several hedge funds and other institutional investors have recently bought and sold shares of JXN. Allworth Financial LP boosted its holdings in Jackson Financial by 22.7% during the 2nd quarter. Allworth Financial LP now owns 573 shares of the company’s stock valued at $59,000 after acquiring an additional 106 shares during the period. Triumph Capital Management boosted its stake in shares of Jackson Financial by 2.7% during the fourth quarter. Triumph Capital Management now owns 4,110 shares of the company’s stock valued at $438,000 after purchasing an additional 107 shares during the period. CIBC Asset Management Inc grew its holdings in shares of Jackson Financial by 1.7% in the fourth quarter. CIBC Asset Management Inc now owns 6,946 shares of the company’s stock worth $741,000 after purchasing an additional 113 shares during the last quarter. UMB Bank n.a. increased its position in shares of Jackson Financial by 41.0% during the fourth quarter. UMB Bank n.a. now owns 392 shares of the company’s stock worth $42,000 after acquiring an additional 114 shares during the period. Finally, Fifth Third Wealth Advisors LLC raised its position in Jackson Financial by 5.5% during the 1st quarter. Fifth Third Wealth Advisors LLC now owns 2,405 shares of the company’s stock valued at $254,000 after purchasing an additional 126 shares in the last quarter. Hedge funds and other institutional investors own 89.96% of the company’s stock.

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.