Jackson Financial (NYSE:JXN) Reaches New 12-Month High – Here’s What Happened

Jackson Financial Inc. (NYSE:JXN) shares hit a new 52-week high on Wednesday . The company traded as high as $123.61 and last traded at $118.3470, with a volume of 723067 shares. The stock had previously closed at $122.21.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Keefe, Bruyette & Woods boosted their price target on Jackson Financial from $105.00 to $110.00 and gave the stock a “market perform” rating in a research report on Thursday, October 9th. Zacks Research raised Jackson Financial from a “hold” rating to a “strong-buy” rating in a report on Monday, October 13th. Weiss Ratings reissued a “hold (c+)” rating on shares of Jackson Financial in a research note on Monday, December 29th. Morgan Stanley set a $105.00 price target on Jackson Financial in a research report on Monday, December 15th. Finally, Barclays reiterated an “overweight” rating and issued a $137.00 price target on shares of Jackson Financial in a research note on Thursday, January 8th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, Jackson Financial has a consensus rating of “Hold” and a consensus target price of $113.00.

Jackson Financial Price Performance

The firm has a fifty day moving average of $108.86 and a 200 day moving average of $100.38. The company has a current ratio of 0.27, a quick ratio of 0.27 and a debt-to-equity ratio of 0.47. The company has a market capitalization of $8.04 billion, a P/E ratio of 16.37 and a beta of 1.45.

Jackson Financial (NYSE:JXN) last announced its quarterly earnings results on Tuesday, November 4th. The company reported $6.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.10 by $1.06. The company had revenue of $1.90 billion for the quarter, compared to analysts’ expectations of $1.89 billion. During the same period in the previous year, the business earned $4.60 EPS. The business’s revenue was down 33.2% compared to the same quarter last year. On average, equities research analysts anticipate that Jackson Financial Inc. will post 20.55 EPS for the current year.

Institutional Investors Weigh In On Jackson Financial

A number of large investors have recently added to or reduced their stakes in JXN. Integrated Wealth Concepts LLC raised its stake in Jackson Financial by 33.2% during the 1st quarter. Integrated Wealth Concepts LLC now owns 5,471 shares of the company’s stock valued at $458,000 after buying an additional 1,363 shares during the last quarter. Woodline Partners LP bought a new stake in shares of Jackson Financial during the 1st quarter valued at about $4,081,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in Jackson Financial by 3.6% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 210,836 shares of the company’s stock valued at $17,664,000 after buying an additional 7,380 shares during the period. Janney Montgomery Scott LLC raised its position in Jackson Financial by 1.9% in the second quarter. Janney Montgomery Scott LLC now owns 54,447 shares of the company’s stock worth $4,834,000 after acquiring an additional 1,014 shares during the period. Finally, PFG Investments LLC bought a new position in Jackson Financial in the 2nd quarter worth $216,000. Institutional investors own 89.96% of the company’s stock.

About Jackson Financial

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.