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

Shares of Jackson Financial Inc. (NYSE:JXN) reached a new 52-week high on Monday . The stock traded as high as $109.58 and last traded at $109.4790, with a volume of 84666 shares. The stock had previously closed at $107.46.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on JXN shares. Evercore ISI set a $118.00 price objective on shares of Jackson Financial and gave the company an “in-line” rating in a research note on Tuesday. Zacks Research upgraded shares of Jackson Financial from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 13th. Morgan Stanley set a $105.00 price target on shares of Jackson Financial in a report on Monday, December 15th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Jackson Financial in a research report on Monday, December 29th. Finally, Keefe, Bruyette & Woods lifted their price objective on Jackson Financial from $105.00 to $110.00 and gave the company a “market perform” rating in a research note on Thursday, October 9th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $111.20.

Jackson Financial Price Performance

The business’s fifty day moving average price is $100.64 and its 200-day moving average price is $96.48. The company has a market capitalization of $7.82 billion, a P/E ratio of 15.92 and a beta of 1.44. The company has a current ratio of 0.27, a quick ratio of 0.27 and a debt-to-equity ratio of 0.47.

Jackson Financial (NYSE:JXN) last announced its quarterly earnings data on Wednesday, March 22nd. The company reported $6.26 earnings per share for the quarter. The firm had revenue of ($1,162.00) million for the quarter. As a group, sell-side analysts predict that Jackson Financial Inc. will post 20.55 earnings per share for the current fiscal year.

Jackson Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, December 18th. Shareholders of record on Thursday, December 4th were paid a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date of this dividend was Thursday, December 4th. Jackson Financial’s payout ratio is 44.26%.

Jackson Financial announced that its board has approved a share buyback plan on Thursday, September 18th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the company to repurchase up to 14.4% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s leadership believes its stock is undervalued.

Hedge Funds Weigh In On Jackson Financial

A number of hedge funds and other institutional investors have recently made changes to their positions in JXN. Allworth Financial LP lifted its position in Jackson Financial by 404.0% during the 3rd 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. Cullen Frost Bankers Inc. bought a new stake in shares of Jackson Financial in the 3rd quarter worth approximately $28,000. Twin Peaks Wealth Advisors LLC purchased a new stake in shares of Jackson Financial in the 2nd quarter worth approximately $30,000. Optiver Holding B.V. increased its position in Jackson Financial by 469.2% during the 3rd quarter. Optiver Holding B.V. now owns 296 shares of the company’s stock valued at $30,000 after buying an additional 244 shares in the last quarter. Finally, Bayforest Capital Ltd raised its stake in Jackson Financial by 541.2% during the third quarter. Bayforest Capital Ltd now owns 327 shares of the company’s stock valued at $33,000 after buying an additional 276 shares during the last quarter. Institutional investors own 89.96% of the company’s stock.

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.