Jackson Financial (NYSE:JXN) Upgraded by Wall Street Zen to “Buy” Rating

Wall Street Zen upgraded shares of Jackson Financial (NYSE:JXN) from a hold rating to a buy rating in a research report released on Saturday morning.

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

Jackson Financial Stock Performance

Shares of JXN opened at $129.61 on Friday. Jackson Financial has a one year low of $88.20 and a one year high of $137.99. The company has a market cap of $9.04 billion, a PE ratio of 182.55 and a beta of 1.30. The stock has a 50-day moving average of $114.28 and a 200-day moving average of $111.64. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.26 and a quick ratio of 0.27.

Jackson Financial (NYSE:JXN) last announced 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. Jackson Financial had a return on equity of 18.93% and a net margin of 1.59%.The business had revenue of $2 billion for the quarter, compared to analyst estimates of $1.91 billion.

Jackson Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 24th. Shareholders of record on Tuesday, September 15th will be issued a dividend of $0.90 per share. This represents a $3.60 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date of this dividend is Tuesday, September 15th. Jackson Financial’s payout ratio is currently 507.04%.

Insider Activity

In other news, EVP Carrie Chelko sold 7,500 shares of the stock in a transaction dated 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 owned 80,914 shares in the company, valued at $10,861,895.36. This represents a 8.48% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.40% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Allworth Financial LP increased its stake in Jackson Financial by 404.0% in the 3rd quarter. Allworth Financial LP now owns 252 shares of the company’s stock valued at $26,000 after buying an additional 202 shares during the last quarter. Rothschild Investment LLC increased its position in shares of Jackson Financial by 79.9% during the fourth quarter. Rothschild Investment LLC now owns 322 shares of the company’s stock valued at $34,000 after acquiring an additional 143 shares during the last quarter. Plato Investment Management Ltd purchased a new position in Jackson Financial in the fourth quarter worth $35,000. Advisory Services Network LLC purchased a new position in Jackson Financial in the third quarter worth $37,000. Finally, Signature Equity Partners LLC bought a new position in Jackson Financial in the 1st quarter valued at $38,000. 89.96% of the stock is currently owned by hedge funds and other institutional investors.

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.