Jackson Financial (NYSE:JXN) Sets New 52-Week High at $69.20

Jackson Financial Inc. (NYSE:JXN) shares hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $69.20 and last traded at $69.20, with a volume of 422303 shares changing hands. The stock had previously closed at $67.05.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on JXN. Morgan Stanley boosted their price objective on shares of Jackson Financial from $52.00 to $70.00 and gave the company an “equal weight” rating in a research note on Monday, April 15th. The Goldman Sachs Group upped their price target on shares of Jackson Financial from $39.00 to $47.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 9th. Jefferies Financial Group reaffirmed a “hold” rating and set a $55.00 price target on shares of Jackson Financial in a research note on Tuesday, January 2nd. Keefe, Bruyette & Woods upped their price target on shares of Jackson Financial from $68.00 to $75.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 10th. Finally, Evercore ISI upped their price target on shares of Jackson Financial from $55.00 to $62.00 and gave the stock an “in-line” rating in a research note on Thursday, April 11th. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $61.80.

Jackson Financial Stock Performance

The stock has a market capitalization of $5.39 billion, a price-to-earnings ratio of 7.09 and a beta of 1.57. The stock’s 50 day moving average is $61.54 and its 200 day moving average is $51.88. The company has a current ratio of 0.33, a quick ratio of 0.33 and a debt-to-equity ratio of 0.41.

Jackson Financial (NYSE:JXN) last issued its quarterly earnings data on Wednesday, February 21st. The company reported $2.53 EPS for the quarter, missing analysts’ consensus estimates of $3.53 by ($1.00). The company had revenue of $1.93 billion for the quarter, compared to analysts’ expectations of $1.40 billion. The company’s revenue was up 3.3% compared to the same quarter last year. During the same quarter last year, the firm posted $5.66 earnings per share. On average, analysts predict that Jackson Financial Inc. will post 15.95 earnings per share for the current year.

Jackson Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 21st. Shareholders of record on Tuesday, March 12th were given a $0.70 dividend. This is an increase from Jackson Financial’s previous quarterly dividend of $0.62. The ex-dividend date of this dividend was Monday, March 11th. This represents a $2.80 annualized dividend and a yield of 4.02%. Jackson Financial’s dividend payout ratio (DPR) is 28.54%.

Insider Buying and Selling at Jackson Financial

In other news, Director Derek G. Kirkland acquired 3,500 shares of the stock in a transaction on Monday, March 4th. The stock was bought at an average price of $55.67 per share, with a total value of $194,845.00. Following the completion of the transaction, the director now directly owns 37,726 shares of the company’s stock, valued at $2,100,206.42. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.70% of the stock is owned by corporate insiders.

Institutional Trading of Jackson Financial

A number of hedge funds have recently made changes to their positions in the stock. GAMMA Investing LLC grew its position in shares of Jackson Financial by 47.0% during the first quarter. GAMMA Investing LLC now owns 482 shares of the company’s stock worth $32,000 after buying an additional 154 shares in the last quarter. Hexagon Capital Partners LLC grew its position in shares of Jackson Financial by 18.1% during the first quarter. Hexagon Capital Partners LLC now owns 1,532 shares of the company’s stock worth $101,000 after buying an additional 235 shares in the last quarter. Asset Allocation Strategies LLC grew its position in shares of Jackson Financial by 1.4% during the fourth quarter. Asset Allocation Strategies LLC now owns 17,310 shares of the company’s stock worth $886,000 after buying an additional 242 shares in the last quarter. Nomura Asset Management Co. Ltd. grew its position in shares of Jackson Financial by 18.0% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 1,640 shares of the company’s stock worth $84,000 after buying an additional 250 shares in the last quarter. Finally, Private Trust Co. NA lifted its stake in Jackson Financial by 10.2% during the fourth quarter. Private Trust Co. NA now owns 3,156 shares of the company’s stock worth $162,000 after purchasing an additional 292 shares during the last quarter. Institutional investors and hedge funds own 89.96% of the company’s stock.

Jackson Financial Company Profile

Jackson Financial Inc, through its subsidiaries, provides suite of annuities to retail investors in the United States. The company operates through three segments: Retail Annuities, Institutional Products, and Closed Life and Annuity Blocks. The Retail Annuities segment offers various retirement income and savings products, including variable, fixed index, fixed, and payout annuities, as well as registered index-linked annuities and lifetime income solutions.