Jackson Financial Inc. (NYSE:JXN) Given Consensus Recommendation of “Hold” by Brokerages

Jackson Financial Inc. (NYSE:JXN) has earned an average recommendation of “Hold” from the seven research firms that are presently covering the company, Marketbeat reports. Five investment analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $114.80.

A number of brokerages recently commented on JXN. Keefe, Bruyette & Woods cut their target price on Jackson Financial from $123.00 to $120.00 and set a “market perform” rating for the company in a research note on Friday, April 10th. Evercore set a $118.00 target price on Jackson Financial and gave the company an “in-line” rating in a research note on Tuesday, January 6th. Wall Street Zen lowered Jackson Financial from a “buy” rating to a “hold” rating in a research note on Saturday, April 11th. Finally, Barclays cut their target price on Jackson Financial from $138.00 to $136.00 and set an “overweight” rating for the company in a research note on Wednesday, April 8th.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Jackson Creek Investment Advisors LLC acquired a new position in Jackson Financial during the third quarter worth $2,009,000. Victory Capital Management Inc. raised its stake in Jackson Financial by 12.2% during the third quarter. Victory Capital Management Inc. now owns 601,151 shares of the company’s stock worth $60,855,000 after acquiring an additional 65,202 shares in the last quarter. Kingsview Wealth Management LLC acquired a new position in Jackson Financial during the third quarter worth $3,373,000. Skandinaviska Enskilda Banken AB publ acquired a new position in Jackson Financial during the third quarter worth $1,255,000. Finally, Federated Hermes Inc. raised its stake in Jackson Financial by 6.4% during the third quarter. Federated Hermes Inc. now owns 854,435 shares of the company’s stock worth $86,494,000 after acquiring an additional 51,494 shares in the last quarter. 89.96% of the stock is currently owned by institutional investors and hedge funds.

Jackson Financial Stock Up 1.1%

Shares of JXN stock opened at $115.60 on Wednesday. Jackson Financial has a 12 month low of $75.16 and a 12 month high of $123.61. The firm has a market cap of $8.14 billion, a PE ratio of -330.27 and a beta of 1.45. The stock has a 50 day moving average of $108.13 and a 200-day moving average of $106.19. The company has a quick ratio of 0.27, a current ratio of 0.27 and a debt-to-equity ratio of 0.47.

Jackson Financial (NYSE:JXN) last issued its quarterly earnings results on Wednesday, February 18th. The company reported $6.61 EPS for the quarter, topping analysts’ consensus estimates of $5.90 by $0.71. The business had revenue of $1.94 billion for the quarter, compared to analyst estimates of $1.92 billion. During the same quarter last year, the firm earned $4.65 earnings per share. The firm’s quarterly revenue was down 2.8% compared to the same quarter last year.

Jackson Financial Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 26th. Investors of record on Monday, March 16th were paid a $0.90 dividend. The ex-dividend date was Monday, March 16th. This is a positive change from Jackson Financial’s previous quarterly dividend of $0.80. This represents a $3.60 dividend on an annualized basis and a dividend yield of 3.1%. Jackson Financial’s dividend payout ratio is currently -1,028.57%.

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.