Morgan Stanley Lowers Jackson Financial (NYSE:JXN) Price Target to $86.00

Jackson Financial (NYSE:JXN) had its target price decreased by research analysts at Morgan Stanley from $92.00 to $86.00 in a report issued on Thursday,Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Morgan Stanley’s price objective points to a potential upside of 19.65% from the company’s previous close.

JXN has been the subject of several other research reports. Barclays lifted their price objective on Jackson Financial from $116.00 to $118.00 and gave the company an “overweight” rating in a research report on Thursday, February 20th. Keefe, Bruyette & Woods cut their price target on Jackson Financial from $105.00 to $90.00 and set a “market perform” rating for the company in a report on Wednesday. One analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, Jackson Financial has an average rating of “Hold” and a consensus price target of $91.40.

Jackson Financial Trading Up 1.0 %

Shares of Jackson Financial stock opened at $71.88 on Thursday. Jackson Financial has a 12-month low of $62.81 and a 12-month high of $115.22. The stock has a market capitalization of $5.22 billion, a P/E ratio of 6.28 and a beta of 1.49. The company has a 50-day simple moving average of $84.68 and a 200 day simple moving average of $91.89. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.46.

Jackson Financial (NYSE:JXN) last posted its quarterly earnings data on Wednesday, February 19th. The company reported $4.65 earnings per share for the quarter, missing the consensus estimate of $4.72 by ($0.07). The firm had revenue of $1.81 billion for the quarter, compared to the consensus estimate of $1.81 billion. Research analysts expect that Jackson Financial will post 20.55 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Craig Donald Smith sold 20,607 shares of the business’s stock in a transaction that occurred on Monday, April 7th. The shares were sold at an average price of $69.52, for a total transaction of $1,432,598.64. Following the completion of the sale, the chief executive officer now directly owns 116,423 shares of the company’s stock, valued at $8,093,726.96. The trade was a 15.04 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Scott Romine sold 7,000 shares of the stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $84.43, for a total transaction of $591,010.00. Following the completion of the transaction, the chief executive officer now owns 85,276 shares in the company, valued at $7,199,852.68. This represents a 7.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.30% of the stock is currently owned by insiders.

Institutional Trading of Jackson Financial

Several institutional investors and hedge funds have recently made changes to their positions in the business. First Trust Advisors LP grew its stake in shares of Jackson Financial by 13.4% during the fourth quarter. First Trust Advisors LP now owns 4,134,545 shares of the company’s stock worth $360,036,000 after purchasing an additional 487,803 shares during the period. Geode Capital Management LLC boosted its holdings in Jackson Financial by 0.6% during the fourth quarter. Geode Capital Management LLC now owns 2,099,517 shares of the company’s stock worth $188,522,000 after buying an additional 13,362 shares during the last quarter. Norges Bank acquired a new position in shares of Jackson Financial during the 4th quarter worth about $98,767,000. Jacobs Levy Equity Management Inc. increased its stake in shares of Jackson Financial by 0.5% in the 4th quarter. Jacobs Levy Equity Management Inc. now owns 1,082,974 shares of the company’s stock valued at $94,305,000 after acquiring an additional 4,987 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Jackson Financial by 2.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,079,240 shares of the company’s stock valued at $93,980,000 after acquiring an additional 28,337 shares during the period. Institutional investors 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.