Wall Street Zen Upgrades Jackson Financial (NYSE:JXN) to Buy

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

Other research analysts have also issued research reports about the company. Keefe, Bruyette & Woods lifted their target price on Jackson Financial from $130.00 to $140.00 and gave the company a “market perform” rating in a report on Wednesday, August 5th. Jefferies Financial Group raised shares of Jackson Financial from a “hold” rating to a “buy” rating and increased their price target for the stock from $120.00 to $140.00 in a report on Friday, July 10th. Weiss Ratings upgraded shares of Jackson Financial from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday, August 4th. Evercore set a $135.00 price objective on shares of Jackson Financial in a research note on Wednesday. Finally, Barclays increased their target price on shares of Jackson Financial from $139.00 to $149.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 4th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $133.80.

Jackson Financial Price Performance

Jackson Financial stock opened at $129.61 on Friday. Jackson Financial has a one year low of $88.20 and a one year high of $137.99. The business has a fifty day moving average price of $114.28 and a 200-day moving average price of $111.63. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.26 and a quick ratio of 0.26. The firm has a market capitalization of $8.78 billion, a P/E ratio of 182.55 and a beta of 1.30.

Jackson Financial (NYSE:JXN) last released its quarterly earnings data on Monday, August 3rd. The company reported $7.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.72 by $1.58. The company had revenue of $2 billion for the quarter, compared to analyst estimates of $1.91 billion. Jackson Financial had a return on equity of 18.93% and a net margin of 1.59%.

Insiders Place Their Bets

In related news, EVP Carrie Chelko sold 7,500 shares of the firm’s stock in a transaction that occurred on Wednesday, August 5th. The shares were sold at an average price of $134.24, for a total value of $1,006,800.00. Following the sale, the executive vice president directly owned 80,914 shares of the company’s stock, valued at $10,861,895.36. This trade represents a 8.48% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 1.40% of the stock is owned by corporate 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 bought a new position in shares of Jackson Financial in the 2nd quarter worth $66,639,000. Wedge Capital Management L L P NC lifted its holdings in shares of Jackson Financial by 6.4% during the 2nd quarter. Wedge Capital Management L L P NC now owns 310,357 shares of the company’s stock worth $31,777,000 after acquiring an additional 18,666 shares during the last quarter. Handelsbanken Fonder AB grew its position in Jackson Financial by 13.7% in the second quarter. Handelsbanken Fonder AB now owns 20,700 shares of the company’s stock worth $2,119,000 after acquiring an additional 2,500 shares in the last quarter. GAMMA Investing LLC grew its position in Jackson Financial by 5.5% in the second quarter. GAMMA Investing LLC now owns 3,492 shares of the company’s stock worth $358,000 after acquiring an additional 181 shares in the last quarter. Finally, CoreCap Advisors LLC bought a new position in Jackson Financial in the second quarter valued at $101,000. Hedge funds and other 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.