Jackson Financial (NYSE:JXN) Hits New 12-Month High – What’s Next?

Jackson Financial Inc. (NYSE:JXN)’s stock price reached a new 52-week high during trading on Thursday . The company traded as high as $118.55 and last traded at $116.1560, with a volume of 43289 shares traded. The stock had previously closed at $115.98.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on JXN. Barclays restated an “overweight” rating and set a $137.00 target price on shares of Jackson Financial in a research report on Thursday, January 8th. Keefe, Bruyette & Woods lifted their price target on shares of Jackson Financial from $105.00 to $110.00 and gave the company a “market perform” rating in a research note on Thursday, October 9th. Weiss Ratings reissued a “hold (c+)” rating on shares of Jackson Financial in a research report on Monday, December 29th. Evercore ISI set a $118.00 price objective on Jackson Financial and gave the company an “in-line” rating in a report on Tuesday, January 6th. Finally, Morgan Stanley set a $105.00 price objective on Jackson Financial in a research note on Monday, December 15th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $113.00.

Jackson Financial Price Performance

The company has a fifty day simple moving average of $107.89 and a two-hundred day simple moving average of $99.73. The stock has a market capitalization of $8.08 billion, a price-to-earnings ratio of 16.43 and a beta of 1.44. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.27 and a current ratio of 0.27.

Jackson Financial (NYSE:JXN) last posted its quarterly earnings results on Tuesday, November 4th. The company reported $6.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.10 by $1.06. The firm had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.89 billion. The business’s revenue was down 33.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $4.60 EPS. As a group, equities research analysts expect that Jackson Financial Inc. will post 20.55 earnings per share for the current fiscal year.

Jackson Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, December 18th. Stockholders of record on Thursday, December 4th were issued a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a dividend yield of 2.7%. The ex-dividend date was Thursday, December 4th. Jackson Financial’s payout ratio is 44.26%.

Institutional Trading of Jackson Financial

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Sound Income Strategies LLC increased its stake in shares of Jackson Financial by 25.5% in the 4th quarter. Sound Income Strategies LLC now owns 483 shares of the company’s stock valued at $55,000 after acquiring an additional 98 shares in the last quarter. Wetzel Investment Advisors Inc. boosted its stake in Jackson Financial by 4.5% during the 4th quarter. Wetzel Investment Advisors Inc. now owns 2,300 shares of the company’s stock valued at $245,000 after purchasing an additional 100 shares during the last quarter. Seeds Investor LLC increased its holdings in Jackson Financial by 4.5% during the 4th quarter. Seeds Investor LLC now owns 2,373 shares of the company’s stock worth $253,000 after purchasing an additional 102 shares in the last quarter. Samalin Investment Counsel LLC raised its stake in shares of Jackson Financial by 2.0% in the third quarter. Samalin Investment Counsel LLC now owns 5,370 shares of the company’s stock worth $544,000 after purchasing an additional 104 shares during the last quarter. Finally, Smartleaf Asset Management LLC boosted its position in shares of Jackson Financial by 11.1% during the third quarter. Smartleaf Asset Management LLC now owns 1,142 shares of the company’s stock valued at $117,000 after buying an additional 114 shares during the last quarter. Institutional investors and hedge funds own 89.96% of the company’s stock.

Jackson Financial Company Profile

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.