Jackson Financial (NYSE:JXN) Price Target Cut to $73.00

by · The Cerbat Gem

Jackson Financial (NYSE:JXN – Free Report) had its price target trimmed by Evercore ISI from $75.00 to $73.00 in a research note issued to investors on Wednesday, Benzinga reports. The firm currently has an in-line rating on the stock.

A number of other research analysts have also recently weighed in on JXN. Keefe, Bruyette & Woods cut shares of Jackson Financial from an outperform rating to a market perform rating and raised their price objective for the stock from $75.00 to $80.00 in a research note on Tuesday, May 14th. Morgan Stanley raised their price objective on shares of Jackson Financial from $52.00 to $70.00 and gave the stock an equal weight rating in a research note on Monday, April 15th. Five investment analysts have rated the stock with a hold rating, Based on data from MarketBeat, Jackson Financial currently has a consensus rating of Hold and an average price target of $68.00.

Read Our Latest Research Report on Jackson Financial

Jackson Financial Trading Up 1.4 %

Shares of JXN opened at $74.26 on Wednesday. The company has a current ratio of 0.32, a quick ratio of 0.32 and a debt-to-equity ratio of 0.42. The firm’s 50-day moving average is $73.43 and its two-hundred day moving average is $61.89. Jackson Financial has a twelve month low of $29.28 and a twelve month high of $81.52. The firm has a market capitalization of $5.66 billion, a P/E ratio of 1.96 and a beta of 1.54.

Jackson Financial (NYSE:JXN – Get Free Report) last issued its quarterly earnings data on Wednesday, May 8th. The company reported $4.23 earnings per share for the quarter, topping analysts’ consensus estimates of $3.67 by $0.56. The business had revenue of $2 billion for the quarter, compared to analysts’ expectations of $1.67 billion. During the same period last year, the business earned $3.15 earnings per share. The company’s revenue for the quarter was up 5.8% on a year-over-year basis. On average, research analysts predict that Jackson Financial will post 16.98 earnings per share for the current fiscal year.

Jackson Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, June 20th. Shareholders of record on Thursday, June 6th were paid a $0.70 dividend. The ex-dividend date was Thursday, June 6th. This represents a $2.80 annualized dividend and a yield of 3.77%. Jackson Financial’s payout ratio is currently 7.40%.

Insiders Place Their Bets

In other news, CFO Don W. Cummings bought 1,445 shares of the stock in a transaction on Wednesday, June 5th. The stock was purchased at an average cost of $72.70 per share, with a total value of $105,051.50. Following the purchase, the chief financial officer now owns 45,711 shares of the company’s stock, valued at $3,323,189.70. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Jackson Financial news, COO Devkumar Dilip Ganguly sold 13,000 shares of Jackson Financial stock in a transaction on Friday, May 10th. The shares were sold at an average price of $75.67, for a total value of $983,710.00. Following the transaction, the chief operating officer now owns 93,405 shares in the company, valued at approximately $7,067,956.35. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Don W. Cummings purchased 1,445 shares of the firm’s stock in a transaction on Wednesday, June 5th. The stock was bought at an average price of $72.70 per share, for a total transaction of $105,051.50. Following the acquisition, the chief financial officer now owns 45,711 shares in the company, valued at $3,323,189.70. The disclosure for this purchase can be found here. 1.30% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Jackson Financial

A number of hedge funds have recently made changes to their positions in JXN. Invesco Ltd. boosted its holdings in shares of Jackson Financial by 12.2% in the 3rd quarter. Invesco Ltd. now owns 437,134 shares of the company’s stock valued at $16,707,000 after purchasing an additional 47,365 shares during the last quarter. Northern Trust Corp boosted its holdings in shares of Jackson Financial by 12.9% in the 3rd quarter. Northern Trust Corp now owns 811,448 shares of the company’s stock valued at $31,014,000 after purchasing an additional 92,884 shares during the last quarter. O Shaughnessy Asset Management LLC boosted its holdings in shares of Jackson Financial by 132.7% in the 3rd quarter. O Shaughnessy Asset Management LLC now owns 36,857 shares of the company’s stock valued at $1,409,000 after purchasing an additional 21,017 shares during the last quarter. Teza Capital Management LLC boosted its holdings in shares of Jackson Financial by 24.6% in the 3rd quarter. Teza Capital Management LLC now owns 9,520 shares of the company’s stock valued at $364,000 after purchasing an additional 1,882 shares during the last quarter. Finally, Caxton Associates LP acquired a new position in shares of Jackson Financial during the 3rd quarter valued at $2,801,000. Institutional investors and hedge funds own 89.96% of the company’s stock.

About Jackson Financial

(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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