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

Jackson Financial (NYSE:JXN) had its price target upped by equities research analysts at Morgan Stanley from $52.00 to $70.00 in a research report issued on Monday, Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Morgan Stanley’s price target indicates a potential upside of 7.91% from the company’s current price.

JXN has been the subject of a number of other research reports. The Goldman Sachs Group upped their price target on Jackson Financial from $39.00 to $47.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 9th. 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 research note on Wednesday, April 10th. Jefferies Financial Group reiterated a “hold” rating and issued a $55.00 price target on shares of Jackson Financial in a research report on Tuesday, January 2nd. Finally, Evercore ISI raised their price objective on shares of Jackson Financial from $55.00 to $62.00 and gave the company an “in-line” rating in a research report on Thursday. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $61.80.

Jackson Financial Stock Performance

Shares of NYSE:JXN traded up $1.49 during trading on Monday, hitting $64.87. The company’s stock had a trading volume of 251,792 shares, compared to its average volume of 821,926. The company has a 50-day moving average of $58.82 and a 200-day moving average of $50.24. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.33 and a quick ratio of 0.33. The firm has a market cap of $5.02 billion, a price-to-earnings ratio of 6.62 and a beta of 1.57. Jackson Financial has a 12 month low of $26.70 and a 12 month high of $68.97.

Jackson Financial (NYSE:JXN) last released its quarterly earnings results on Wednesday, February 21st. The company reported $2.53 earnings per share for the quarter, missing the consensus estimate of $3.53 by ($1.00). The business had revenue of $1.93 billion for the quarter, compared to analyst estimates of $1.40 billion. During the same quarter in the previous 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, sell-side analysts expect that Jackson Financial will post 15.89 earnings per share for the current year.

Insider Activity at Jackson Financial

In related news, Director Derek G. Kirkland acquired 3,500 shares of the company’s stock in a transaction on Monday, March 4th. The stock was acquired at an average price of $55.67 per share, with a total value of $194,845.00. Following the acquisition, the director now directly owns 37,726 shares of the company’s stock, valued at $2,100,206.42. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. 1.70% of the stock is currently owned by corporate insiders.

Institutional Trading of Jackson Financial

Hedge funds have recently modified their holdings of the company. GAMMA Investing LLC increased its position in Jackson Financial by 47.0% in the first quarter. GAMMA Investing LLC now owns 482 shares of the company’s stock worth $32,000 after purchasing an additional 154 shares during the last quarter. Daiwa Securities Group Inc. bought a new stake in shares of Jackson Financial in the 4th quarter worth about $36,000. Headlands Technologies LLC purchased a new stake in shares of Jackson Financial during the 4th quarter valued at about $38,000. NBC Securities Inc. bought a new position in shares of Jackson Financial in the 3rd quarter valued at about $28,000. Finally, Steward Partners Investment Advisory LLC grew its position in Jackson Financial by 4,347.8% in the first quarter. Steward Partners Investment Advisory LLC now owns 1,023 shares of the company’s stock worth $38,000 after acquiring an additional 1,000 shares in the last quarter. 89.96% of the stock is owned by hedge funds and other institutional investors.

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.