Jackson Financial (NYSE:JXN) Price Target Raised to $70.00

Jackson Financial (NYSE:JXN) had its price objective upped by Morgan Stanley from $52.00 to $70.00 in a research note published on Monday morning, Benzinga reports. They currently have an equal weight rating on the stock.

Several other research analysts have also recently issued reports on the stock. Evercore ISI raised their target price on shares of Jackson Financial from $55.00 to $62.00 and gave the stock an in-line rating in a report on Thursday, April 11th. Jefferies Financial Group reissued a hold rating and set a $55.00 target price on shares of Jackson Financial in a report on Tuesday, January 2nd. The Goldman Sachs Group raised their target price on shares of Jackson Financial from $39.00 to $47.00 and gave the stock a neutral rating in a report on Tuesday, January 9th. Finally, Keefe, Bruyette & Woods raised their target price on shares of Jackson Financial from $68.00 to $75.00 and gave the stock an outperform rating in a report on Wednesday, April 10th. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, Jackson Financial presently has an average rating of Hold and a consensus price target of $61.80.

Jackson Financial Trading Down 0.7 %

NYSE:JXN opened at $63.56 on Monday. Jackson Financial has a 12 month low of $26.70 and a 12 month high of $68.97. The firm has a fifty day simple moving average of $59.40 and a 200-day simple moving average of $50.61. The company has a current ratio of 0.33, a quick ratio of 0.33 and a debt-to-equity ratio of 0.41. The company has a market capitalization of $4.92 billion, a P/E ratio of 6.48 and a beta of 1.57.

Jackson Financial (NYSE:JXN) last posted its quarterly earnings data on Wednesday, February 21st. The company reported $2.53 EPS for the quarter, missing the consensus estimate of $3.53 by ($1.00). The firm had revenue of $1.93 billion for the quarter, compared to analyst estimates of $1.40 billion. During the same period in the prior year, the firm earned $5.66 EPS. The company’s revenue for the quarter was up 3.3% on a year-over-year basis. On average, equities research analysts anticipate that Jackson Financial will post 15.89 earnings per share for the current year.

Jackson Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 21st. Shareholders of record on Tuesday, March 12th were issued a $0.70 dividend. This is a boost from Jackson Financial’s previous quarterly dividend of $0.62. The ex-dividend date was Monday, March 11th. This represents a $2.80 dividend on an annualized basis and a yield of 4.41%. Jackson Financial’s payout ratio is presently 28.54%.

Insider Buying and Selling at Jackson Financial

In related news, Director Derek G. Kirkland bought 3,500 shares of the company’s stock in a transaction dated Monday, March 4th. The shares were acquired 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 directly owns 37,726 shares in the company, valued at $2,100,206.42. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.70% of the stock is owned by corporate insiders.

Institutional Trading of Jackson Financial

Several institutional investors have recently modified their holdings of the stock. JPMorgan Chase & Co. boosted its position in Jackson Financial by 0.7% during the first quarter. JPMorgan Chase & Co. now owns 92,635 shares of the company’s stock worth $4,098,000 after acquiring an additional 662 shares during the last quarter. Raymond James & Associates boosted its holdings in Jackson Financial by 19.5% in the 1st quarter. Raymond James & Associates now owns 34,968 shares of the company’s stock valued at $1,547,000 after purchasing an additional 5,699 shares during the last quarter. Sei Investments Co. purchased a new stake in shares of Jackson Financial in the 1st quarter valued at approximately $346,000. Canada Pension Plan Investment Board purchased a new stake in shares of Jackson Financial in the 1st quarter valued at approximately $402,000. Finally, Penserra Capital Management LLC purchased a new stake in shares of Jackson Financial in the 1st quarter valued at approximately $108,000. Institutional investors and hedge funds own 89.96% of the company’s stock.

About Jackson Financial

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.