Jackson Financial (NYSE:JXN) Rating Lowered to “Hold” at Wall Street Zen

Jackson Financial (NYSE:JXN) was downgraded by stock analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a note issued to investors on Saturday, Wall Street Zen reports.

A number of other research analysts also recently commented on the stock. Evercore set a $135.00 price objective on shares of Jackson Financial in a research note on Wednesday, August 5th. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $140.00 target price on shares of Jackson Financial in a research report on Friday, September 18th. Barclays boosted their target price on shares of Jackson Financial from $151.00 to $154.00 and gave the company an “overweight” rating in a report on Wednesday, November 4th. Jefferies Financial Group raised shares of Jackson Financial from a “hold” rating to a “buy” rating and upped their price target for the stock from $120.00 to $140.00 in a research report on Friday, July 10th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Jackson Financial in a research report on Monday, November 2nd. Two research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, Jackson Financial has a consensus rating of “Hold” and an average target price of $134.80.

Jackson Financial Stock Performance

Jackson Financial stock opened at $131.13 on Friday. The firm has a market capitalization of $8.88 billion, a P/E ratio of 10.78 and a beta of 1.34. The stock has a fifty day moving average price of $133.45 and a 200 day moving average price of $118.64. Jackson Financial has a 52 week low of $89.67 and a 52 week high of $150.00. The company has a current ratio of 0.22, a quick ratio of 0.22 and a debt-to-equity ratio of 0.62.

Jackson Financial (NYSE:JXN) last released its earnings results on Tuesday, November 3rd. The company reported $7.55 earnings per share for the quarter, topping the consensus estimate of $7.24 by $0.31. Jackson Financial had a return on equity of 20.46% and a net margin of 13.41%. The firm had revenue of $2.07 billion for the quarter, compared to the consensus estimate of $2.07 billion.

Insider Buying and Selling at Jackson Financial

In other news, CEO Christopher Raub sold 5,000 shares of the stock in a transaction dated Wednesday, August 12th. The stock was sold at an average price of $130.69, for a total value of $653,450.00. Following the completion of the sale, the chief executive officer owned 42,160 shares in the company, valued at approximately $5,509,890.40. This trade represents a 10.60% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 1.40% of the stock is owned by insiders.

Hedge Funds Weigh In On Jackson Financial

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Bank of New York Mellon Corp lifted its stake in shares of Jackson Financial by 2.8% in the first quarter. Bank of New York Mellon Corp now owns 910,853 shares of the company’s stock worth $96,295,000 after acquiring an additional 24,747 shares in the last quarter. Squarepoint Ops LLC grew its stake in Jackson Financial by 96.6% during the 2nd quarter. Squarepoint Ops LLC now owns 166,794 shares of the company’s stock valued at $17,078,000 after purchasing an additional 81,970 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new stake in Jackson Financial during the 3rd quarter valued at approximately $1,362,000. William John Sempolinski purchased a new stake in Jackson Financial during the 2nd quarter worth approximately $2,222,000. Finally, Renaissance Technologies LLC purchased a new stake in Jackson Financial during the 1st quarter worth approximately $10,836,000. 89.96% of the stock is owned by institutional investors and hedge funds.

Jackson Financial Company Profile

Jackson Financial Inc is a U.S. financial services company focused on retirement planning. Through its subsidiaries, including Jackson National Life Insurance Company, it offers annuity products designed to help individuals build and manage retirement income. Its offerings include variable, fixed, fixed-indexed and registered index-linked annuities.

The company serves individuals and financial professionals across the United States, distributing its products through a network of independent financial advisers and other financial services firms.