Keefe, Bruyette & Woods Boosts Jackson Financial (NYSE:JXN) Price Target to $75.00

Jackson Financial (NYSE:JXN) had its price target lifted by Keefe, Bruyette & Woods from $68.00 to $75.00 in a research note issued to investors on Wednesday, Benzinga reports. They currently have an outperform rating on the stock.

Several other research firms have also recently weighed in on JXN. Morgan Stanley upped their price objective on shares of Jackson Financial from $49.00 to $52.00 and gave the stock an equal weight rating in a research report on Friday, March 1st. The Goldman Sachs Group upped their price objective on shares of Jackson Financial from $39.00 to $47.00 and gave the stock a neutral rating in a research report on Tuesday, January 9th. Finally, Jefferies Financial Group reaffirmed a hold rating and set a $55.00 price objective on shares of Jackson Financial in a research report on Tuesday, January 2nd. Four analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of Hold and an average target price of $58.20.

Jackson Financial Trading Down 3.0 %

Shares of Jackson Financial stock opened at $63.38 on Wednesday. The firm has a 50-day moving average of $58.82 and a 200-day moving average of $50.16. The stock has a market cap of $4.91 billion, a PE ratio of 6.46 and a beta of 1.57. Jackson Financial has a 52-week low of $26.70 and a 52-week high of $68.97. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.33 and a current ratio of 0.33.

Jackson Financial (NYSE:JXN) last announced its earnings results on Wednesday, February 21st. The company reported $2.53 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.53 by ($1.00). The firm had revenue of $1.93 billion for the quarter, compared to the consensus estimate of $1.40 billion. The business’s revenue for the quarter was up 3.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $5.66 earnings per share. As a group, sell-side analysts forecast that Jackson Financial will post 15.89 EPS for the current year.

Jackson Financial Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 21st. Stockholders of record on Tuesday, March 12th were issued a $0.70 dividend. The ex-dividend date was Monday, March 11th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 4.42%. This is a boost from Jackson Financial’s previous quarterly dividend of $0.62. Jackson Financial’s dividend payout ratio is 28.54%.

Insider Transactions 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 stock was purchased at an average price of $55.67 per share, with a total value of $194,845.00. Following the completion of the acquisition, the director now owns 37,726 shares of the company’s stock, valued at $2,100,206.42. The purchase was disclosed in a document filed with the SEC, which is available through this link. Company insiders own 1.70% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. GAMMA Investing LLC increased its stake in shares of Jackson Financial by 47.0% in the first quarter. GAMMA Investing LLC now owns 482 shares of the company’s stock valued at $32,000 after buying an additional 154 shares during the period. Daiwa Securities Group Inc. acquired a new stake in Jackson Financial during the 4th quarter valued at approximately $36,000. Headlands Technologies LLC acquired a new stake in Jackson Financial during the 4th quarter valued at approximately $38,000. NBC Securities Inc. acquired a new stake in Jackson Financial during the 3rd quarter valued at approximately $28,000. Finally, Steward Partners Investment Advisory LLC increased its position in Jackson Financial by 4,347.8% during the 1st quarter. Steward Partners Investment Advisory LLC now owns 1,023 shares of the company’s stock valued at $38,000 after purchasing an additional 1,000 shares during the period. Institutional investors and hedge funds own 89.96% of the company’s stock.

Jackson Financial Company Profile

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.