Jackson Financial (NYSE:JXN) Hits New 1-Year High at $67.08

Jackson Financial Inc. (NYSE:JXN)’s share price hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $67.08 and last traded at $67.07, with a volume of 83292 shares changing hands. The stock had previously closed at $66.14.

Wall Street Analyst Weigh In

JXN has been the subject of a number of research analyst reports. Jefferies Financial Group reissued a “hold” rating and issued a $55.00 target price on shares of Jackson Financial in a research report on Tuesday, January 2nd. The Goldman Sachs Group raised their price target on Jackson Financial from $39.00 to $47.00 and gave the stock a “neutral” rating in a report on Tuesday, January 9th. Morgan Stanley lifted their price objective on shares of Jackson Financial from $49.00 to $52.00 and gave the company an “equal weight” rating in a research report on Friday, March 1st. Finally, Keefe, Bruyette & Woods raised shares of Jackson Financial from a “market perform” rating to an “outperform” rating and increased their price target for the stock from $49.00 to $68.00 in a report on Wednesday, February 28th. Three analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $55.50.

Jackson Financial Trading Up 0.0 %

The firm has a market cap of $5.12 billion, a P/E ratio of 6.80 and a beta of 1.54. The company has a quick ratio of 0.33, a current ratio of 0.33 and a debt-to-equity ratio of 0.41. The business’s 50 day moving average is $55.05 and its 200-day moving average is $47.90.

Jackson Financial (NYSE:JXN) last announced its quarterly earnings data on Wednesday, February 21st. The company reported $2.53 earnings per share for the quarter, missing the consensus estimate of $3.53 by ($1.00). The company had revenue of $1.93 billion during the quarter, compared to analysts’ expectations of $1.40 billion. During the same period in the prior year, the company posted $5.66 earnings per share. The firm’s revenue was up 3.3% compared to the same quarter last year. As a group, analysts forecast that Jackson Financial Inc. will post 15.59 earnings per share for the current fiscal year.

Jackson Financial Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 21st. Stockholders 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. This represents a $2.80 dividend on an annualized basis and a dividend yield of 4.23%. The ex-dividend date was Monday, March 11th. Jackson Financial’s dividend payout ratio (DPR) is presently 28.54%.

Insider Activity

In other Jackson Financial news, Director Derek G. Kirkland acquired 3,500 shares of the company’s stock in a transaction that occurred on Monday, March 4th. The shares were purchased at an average price of $55.67 per share, for a total transaction of $194,845.00. Following the completion of the purchase, the director now directly owns 37,726 shares in the company, valued at $2,100,206.42. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 1.70% of the company’s stock.

Hedge Funds Weigh In On Jackson Financial

Several institutional investors have recently modified their holdings of JXN. Vanguard Group Inc. raised its stake in Jackson Financial by 16.1% during the 3rd quarter. Vanguard Group Inc. now owns 10,933,228 shares of the company’s stock valued at $417,868,000 after acquiring an additional 1,518,547 shares in the last quarter. BlackRock Inc. lifted its stake in Jackson Financial by 3.7% during the second quarter. BlackRock Inc. now owns 6,480,689 shares of the company’s stock valued at $198,374,000 after purchasing an additional 231,800 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Jackson Financial by 10.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 4,175,970 shares of the company’s stock valued at $213,813,000 after buying an additional 399,665 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of Jackson Financial by 1.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 4,157,287 shares of the company’s stock worth $155,525,000 after purchasing an additional 52,814 shares during the period. Finally, Hsbc Holdings PLC lifted its stake in Jackson Financial by 45,699.9% during the third quarter. Hsbc Holdings PLC now owns 3,241,261 shares of the company’s stock valued at $124,043,000 after buying an additional 3,234,184 shares in the last quarter. Institutional investors 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.