Jackson Financial (NYSE:JXN) Sets New 52-Week High – Time to Buy?

Shares of Jackson Financial Inc. (NYSE:JXN) hit a new 52-week high on Wednesday . The company traded as high as $107.95 and last traded at $106.8250, with a volume of 63040 shares traded. The stock had previously closed at $106.71.

Analyst Ratings Changes

JXN has been the topic of several research analyst reports. Barclays boosted their target price on Jackson Financial from $125.00 to $128.00 and gave the company an “overweight” rating in a research note on Wednesday, November 5th. Evercore ISI boosted their price objective on shares of Jackson Financial from $100.00 to $110.00 and gave the company an “underperform” rating in a research report on Thursday, October 9th. Zacks Research upgraded shares of Jackson Financial from a “hold” rating to a “strong-buy” rating in a report on Monday, October 13th. Keefe, Bruyette & Woods lifted their target price on shares of Jackson Financial from $105.00 to $110.00 and gave the company a “market perform” rating in a research note on Thursday, October 9th. Finally, Morgan Stanley set a $105.00 price target on shares of Jackson Financial in a research report on Monday. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $109.60.

Jackson Financial Trading Down 0.6%

The stock’s fifty day simple moving average is $97.56 and its two-hundred day simple moving average is $93.89. The firm has a market cap of $7.21 billion, a PE ratio of 14.69 and a beta of 1.45. The company has a quick ratio of 0.27, a current ratio of 0.27 and a debt-to-equity ratio of 0.47.

Jackson Financial (NYSE:JXN) last issued its quarterly earnings results on Wednesday, March 22nd. The company reported $6.26 EPS for the quarter. Jackson Financial had a return on equity of 15.73% and a net margin of 1.73%.The firm had revenue of ($1,162.00) million for the quarter. On average, sell-side analysts forecast that Jackson Financial Inc. will post 20.55 EPS for the current fiscal year.

Jackson Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 18th. Stockholders of record on Thursday, December 4th will be issued a dividend of $0.80 per share. The ex-dividend date is Thursday, December 4th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 3.0%. Jackson Financial’s dividend payout ratio is presently 44.26%.

Jackson Financial announced that its Board of Directors has authorized a stock buyback plan on Thursday, September 18th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the company to reacquire up to 14.4% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s leadership believes its shares are undervalued.

Hedge Funds Weigh In On Jackson Financial

A number of hedge funds have recently bought and sold shares of the business. Dimensional Fund Advisors LP raised its holdings in shares of Jackson Financial by 0.5% during the third quarter. Dimensional Fund Advisors LP now owns 3,994,949 shares of the company’s stock valued at $404,415,000 after purchasing an additional 18,249 shares during the last quarter. Donald Smith & CO. Inc. lifted its holdings in shares of Jackson Financial by 2.0% during the 2nd quarter. Donald Smith & CO. Inc. now owns 1,699,087 shares of the company’s stock valued at $150,862,000 after buying an additional 33,040 shares during the period. American Century Companies Inc. boosted its stake in shares of Jackson Financial by 0.3% in the 3rd quarter. American Century Companies Inc. now owns 1,516,935 shares of the company’s stock worth $153,559,000 after buying an additional 4,559 shares during the last quarter. Acadian Asset Management LLC boosted its stake in shares of Jackson Financial by 1.5% in the 2nd quarter. Acadian Asset Management LLC now owns 1,359,477 shares of the company’s stock worth $120,685,000 after buying an additional 20,212 shares during the last quarter. Finally, Norges Bank bought a new stake in shares of Jackson Financial in the second quarter worth $102,131,000. Hedge funds and other 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.