Jackson Financial (NYSE:JXN) Upgraded by Jefferies Financial Group to “Buy” Rating

Jefferies Financial Group upgraded shares of Jackson Financial (NYSE:JXN) from a hold rating to a buy rating in a research note published on Friday, Marketbeat.com reports. The brokerage currently has $140.00 target price on the stock, up from their prior target price of $120.00.

Other research analysts have also recently issued reports about the stock. Wall Street Zen cut shares of Jackson Financial from a “buy” rating to a “hold” rating in a research note on Saturday, April 11th. Barclays upped their target price on Jackson Financial from $136.00 to $139.00 and gave the company an “overweight” rating in a research note on Tuesday. Keefe, Bruyette & Woods raised their price target on Jackson Financial from $120.00 to $125.00 and gave the stock a “market perform” rating in a research report on Wednesday, May 13th. Finally, Weiss Ratings downgraded Jackson Financial from a “hold (c)” rating to a “hold (c-)” rating in a research report on Tuesday, May 12th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $125.40.

Jackson Financial Price Performance

JXN traded up $6.08 during midday trading on Friday, reaching $116.87. 1,414,894 shares of the company’s stock were exchanged, compared to its average volume of 591,842. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.27 and a quick ratio of 0.27. The stock has a market capitalization of $8.15 billion, a PE ratio of -19.13 and a beta of 1.32. The business’s 50-day moving average price is $108.03 and its 200 day moving average price is $109.73. Jackson Financial has a 1-year low of $82.65 and a 1-year high of $123.61.

Jackson Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 25th. Investors of record on Thursday, June 11th were paid a dividend of $0.90 per share. The ex-dividend date of this dividend was Thursday, June 11th. This represents a $3.60 annualized dividend and a dividend yield of 3.1%. Jackson Financial’s dividend payout ratio is presently -58.92%.

Institutional Trading of Jackson Financial

Hedge funds and other institutional investors have recently bought and sold shares of the company. Allworth Financial LP lifted its stake in shares of Jackson Financial by 404.0% during the 3rd quarter. Allworth Financial LP now owns 252 shares of the company’s stock worth $26,000 after purchasing an additional 202 shares during the period. Rothschild Investment LLC grew its position in shares of Jackson Financial by 79.9% in the fourth quarter. Rothschild Investment LLC now owns 322 shares of the company’s stock valued at $34,000 after purchasing an additional 143 shares during the period. Plato Investment Management Ltd acquired a new position in Jackson Financial in the fourth quarter valued at $35,000. Advisory Services Network LLC acquired a new position in Jackson Financial in the third quarter valued at $37,000. Finally, Signature Equity Partners LLC purchased a new position in Jackson Financial during the first quarter worth about $38,000. 89.96% of the stock is owned by hedge funds and other institutional investors.

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.