Jackson Financial (NYSE:JXN) Hits New 1-Year High – What’s Next?

Jackson Financial Inc. (NYSE:JXNGet Free Report) reached a new 52-week high during trading on Monday . The company traded as high as $140.90 and last traded at $138.3510, with a volume of 572492 shares trading hands. The stock had previously closed at $138.12.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on JXN. Keefe, Bruyette & Woods increased their target price on shares of Jackson Financial from $130.00 to $140.00 and gave the stock a “market perform” rating in a research note on Wednesday, August 5th. Wall Street Zen upgraded Jackson Financial from a “hold” rating to a “buy” rating in a research report on Saturday, August 8th. Weiss Ratings raised Jackson Financial from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, August 4th. Barclays increased their price objective on Jackson Financial from $139.00 to $149.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 4th. Finally, Evercore set a $135.00 target price on Jackson Financial in a research note on Wednesday, August 5th. One 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’s stock. According to data from MarketBeat, Jackson Financial currently has an average rating of “Moderate Buy” and an average target price of $133.80.

Check Out Our Latest Analysis on Jackson Financial

Jackson Financial Stock Performance

The company has a market cap of $9.43 billion, a PE ratio of 194.86 and a beta of 1.30. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.26 and a current ratio of 0.26. The stock’s 50-day simple moving average is $128.12 and its 200 day simple moving average is $114.92.

Jackson Financial (NYSE:JXNGet Free Report) last issued its earnings results on Monday, August 3rd. The company reported $7.30 earnings per share for the quarter, beating the consensus estimate of $5.72 by $1.58. Jackson Financial had a net margin of 1.59% and a return on equity of 18.93%. The business had revenue of $2 billion for the quarter, compared to the consensus estimate of $1.91 billion.

Jackson Financial Dividend Announcement

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

Insider Buying and Selling

In other news, EVP Carrie Chelko sold 7,500 shares of the stock in a transaction that occurred on Wednesday, August 5th. The stock was sold at an average price of $134.24, for a total transaction of $1,006,800.00. Following the completion of the transaction, the executive vice president directly owned 80,914 shares of the company’s stock, valued at approximately $10,861,895.36. This represents a 8.48% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Christopher Raub sold 5,000 shares of the stock in a transaction that occurred on Wednesday, August 12th. The stock was sold at an average price of $130.69, for a total value of $653,450.00. Following the transaction, the chief executive officer directly owned 42,160 shares of the company’s stock, valued at approximately $5,509,890.40. This trade represents a 10.60% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 1.40% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Allworth Financial LP lifted its holdings in Jackson Financial by 404.0% in the third quarter. Allworth Financial LP now owns 252 shares of the company’s stock valued at $26,000 after acquiring an additional 202 shares during the period. Rothschild Investment LLC grew its stake in shares of Jackson Financial by 79.9% during the 4th quarter. Rothschild Investment LLC now owns 322 shares of the company’s stock worth $34,000 after purchasing an additional 143 shares during the period. Signature Equity Partners LLC purchased a new position in shares of Jackson Financial in the 1st quarter valued at about $38,000. Advisory Services Network LLC acquired a new stake in shares of Jackson Financial in the third quarter valued at about $37,000. Finally, Employees Retirement System of Texas acquired a new stake in shares of Jackson Financial in the third quarter valued at about $38,000. Institutional investors and hedge funds own 89.96% of the company’s stock.

About Jackson Financial

(Get Free Report)

Jackson Financial Inc (NYSE:JXN) is a U.S.-based financial services company focused on providing retirement income solutions. Through its insurance subsidiaries, the company primarily develops and distributes annuity products designed to help individuals accumulate retirement savings and generate income during retirement.

Jackson’s product portfolio includes variable annuities, fixed annuities and registered index-linked annuities. Its offerings are distributed through financial professionals and other intermediary channels, serving individuals and institutions seeking tax-deferred retirement accumulation, income planning and related financial solutions.

Headquartered in Lansing, Michigan, Jackson primarily serves customers in the United States through Jackson National Life Insurance Company and related entities, including Jackson National Life Insurance Company of New York.

Further Reading

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