Jackson Financial (NYSE:JXN) Given New $136.00 Price Target at Barclays

Jackson Financial (NYSE:JXN) had its price target reduced by research analysts at Barclays from $138.00 to $136.00 in a report released on Wednesday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Barclays‘s target price indicates a potential upside of 26.85% from the stock’s previous close.

Several other equities research analysts also recently commented on the stock. Morgan Stanley set a $105.00 target price on shares of Jackson Financial in a research note on Monday, December 15th. Wall Street Zen upgraded shares of Jackson Financial from a “hold” rating to a “buy” rating in a research report on Saturday, February 28th. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $123.00 price target on shares of Jackson Financial in a research report on Thursday, March 26th. Weiss Ratings reissued a “hold (c+)” rating on shares of Jackson Financial in a report on Monday, December 29th. Finally, 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. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, Jackson Financial has an average rating of “Hold” and an average target price of $115.40.

Jackson Financial Stock Performance

JXN traded up $3.90 during trading on Wednesday, reaching $107.21. 208,069 shares of the company’s stock were exchanged, compared to its average volume of 605,674. Jackson Financial has a fifty-two week low of $66.75 and a fifty-two week high of $123.61. The company has a quick ratio of 0.27, a current ratio of 0.27 and a debt-to-equity ratio of 0.47. The business has a 50 day moving average price of $110.48 and a 200 day moving average price of $105.37. The company has a market capitalization of $7.58 billion, a P/E ratio of -306.28 and a beta of 1.45.

Jackson Financial (NYSE:JXN) last posted its quarterly earnings results on Wednesday, February 18th. The company reported $6.61 earnings per share for the quarter, topping analysts’ consensus estimates of $5.90 by $0.71. The business had revenue of $1.94 billion for the quarter, compared to analyst estimates of $1.92 billion. During the same quarter in the prior year, the firm earned $4.65 EPS. The firm’s quarterly revenue was down 2.8% on a year-over-year basis. As a group, analysts predict that Jackson Financial will post 20.55 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Jackson Financial

Several institutional investors and hedge funds have recently modified their holdings of JXN. Allworth Financial LP grew its position in shares of 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 purchasing an additional 202 shares during the period. Cullen Frost Bankers Inc. acquired a new position in shares of Jackson Financial in the 3rd quarter valued at approximately $28,000. Optiver Holding B.V. grew its position in shares of Jackson Financial by 469.2% in the 3rd quarter. Optiver Holding B.V. now owns 296 shares of the company’s stock valued at $30,000 after purchasing an additional 244 shares during the period. Bayforest Capital Ltd grew its position in shares of Jackson Financial by 541.2% in the 3rd quarter. Bayforest Capital Ltd now owns 327 shares of the company’s stock valued at $33,000 after purchasing an additional 276 shares during the period. Finally, Salomon & Ludwin LLC acquired a new position in shares of Jackson Financial in the 3rd quarter valued at approximately $34,000. 89.96% of the stock is currently owned by institutional investors and hedge funds.

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.