Jackson Financial (NYSE:JXN) Hits New 52-Week High at $67.19

Shares of Jackson Financial Inc. (NYSE:JXNGet Free Report) reached a new 52-week high during trading on Wednesday . The stock traded as high as $67.19 and last traded at $67.19, with a volume of 23526 shares traded. The stock had previously closed at $65.77.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. Keefe, Bruyette & Woods upgraded shares of Jackson Financial from a “market perform” rating to an “outperform” rating and raised their target price for the stock from $49.00 to $68.00 in a research note on Wednesday, February 28th. Jefferies Financial Group restated a “hold” rating and issued a $55.00 target price on shares of Jackson Financial in a research note on Tuesday, January 2nd. Morgan Stanley raised 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 note on Friday, March 1st. Finally, The Goldman Sachs Group raised their price objective on shares of Jackson Financial from $39.00 to $47.00 and gave the company a “neutral” rating in a research note on Tuesday, January 9th. Three equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, Jackson Financial currently has a consensus rating of “Hold” and a consensus target price of $55.50.

Read Our Latest Research Report on JXN

Jackson Financial Price Performance

The company has a debt-to-equity ratio of 0.41, a current ratio of 0.33 and a quick ratio of 0.33. The company’s 50 day moving average is $56.35 and its 200 day moving average is $48.72. The stock has a market cap of $5.16 billion, a price-to-earnings ratio of 6.71 and a beta of 1.57.

Jackson Financial (NYSE:JXNGet Free Report) last announced its earnings results on Wednesday, February 21st. The company reported $2.53 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.53 by ($1.00). The business had revenue of $1.93 billion for the quarter, compared to the consensus estimate of $1.40 billion. The company’s revenue was up 3.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $5.66 EPS. Research 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 announced a quarterly dividend, which was paid on Thursday, March 21st. Shareholders of record on Tuesday, March 12th were given a dividend of $0.70 per share. The ex-dividend date of this dividend was Monday, March 11th. This represents a $2.80 dividend on an annualized basis and a yield of 4.20%. This is a boost from Jackson Financial’s previous quarterly dividend of $0.62. Jackson Financial’s payout ratio is presently 28.54%.

Insiders Place Their Bets

In other Jackson Financial news, Director Derek G. Kirkland bought 3,500 shares of the business’s stock in a transaction on Monday, March 4th. The stock was bought at an average price of $55.67 per share, for a total transaction of $194,845.00. Following the completion of the transaction, the director now owns 37,726 shares in the company, valued at approximately $2,100,206.42. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.70% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Jackson Financial

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. grew its holdings in shares of Jackson Financial by 16.1% during the third quarter. Vanguard Group Inc. now owns 10,933,228 shares of the company’s stock worth $417,868,000 after buying an additional 1,518,547 shares in the last quarter. BlackRock Inc. grew its holdings in shares of Jackson Financial by 3.7% during the second quarter. BlackRock Inc. now owns 6,480,689 shares of the company’s stock worth $198,374,000 after buying an additional 231,800 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Jackson Financial by 10.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 4,175,970 shares of the company’s stock worth $213,813,000 after buying an additional 399,665 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings 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 buying an additional 52,814 shares in the last quarter. Finally, Hsbc Holdings PLC grew its holdings in shares of Jackson Financial by 45,699.9% during the third quarter. Hsbc Holdings PLC now owns 3,241,261 shares of the company’s stock worth $124,043,000 after buying an additional 3,234,184 shares in the last quarter. 89.96% of the stock is currently owned by hedge funds and other institutional investors.

Jackson Financial Company Profile

(Get Free Report)

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.

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