Jackson Financial (NYSE:JXN) Hits New 1-Year High – What’s Next?

Shares of Jackson Financial Inc. (NYSE:JXN) hit a new 52-week high on Monday . The stock traded as high as $109.58 and last traded at $109.4790, with a volume of 84666 shares traded. The stock had previously closed at $107.46.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. Barclays upped their price target on Jackson Financial from $125.00 to $128.00 and gave the stock an “overweight” rating in a report on Wednesday, November 5th. Evercore ISI increased their price objective on Jackson Financial from $100.00 to $110.00 and gave the company an “underperform” rating in a report on Thursday, October 9th. Keefe, Bruyette & Woods increased 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. Zacks Research upgraded shares of Jackson Financial from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 13th. Finally, Morgan Stanley set a $105.00 price target on Jackson Financial in a research report on Monday, December 15th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $109.60.

Jackson Financial Stock Up 2.9%

The company has a market capitalization of $7.51 billion, a price-to-earnings ratio of 15.28 and a beta of 1.44. 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 firm’s 50 day simple moving average is $100.15 and its 200-day simple moving average is $96.10.

Jackson Financial (NYSE:JXN) last issued its earnings results on Wednesday, March 22nd. The company reported $6.26 earnings per share for the quarter. The firm had revenue of ($1,162.00) million during the quarter. On average, sell-side analysts anticipate that Jackson Financial Inc. will post 20.55 EPS for the current fiscal year.

Jackson Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, December 18th. Stockholders of record on Thursday, December 4th were issued a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date was Thursday, December 4th. Jackson Financial’s dividend payout ratio (DPR) is currently 44.26%.

Jackson Financial announced that its board has approved a share repurchase program on Thursday, September 18th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the company to reacquire up to 14.4% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s management believes its shares are undervalued.

Hedge Funds Weigh In On Jackson Financial

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Dimensional Fund Advisors LP grew its stake in Jackson Financial by 0.5% in the 3rd quarter. Dimensional Fund Advisors LP now owns 3,994,949 shares of the company’s stock valued at $404,415,000 after acquiring an additional 18,249 shares during the last quarter. Donald Smith & CO. Inc. boosted its position in Jackson Financial by 2.0% during the second quarter. Donald Smith & CO. Inc. now owns 1,699,087 shares of the company’s stock worth $150,862,000 after acquiring an additional 33,040 shares during the last quarter. American Century Companies Inc. grew its stake in Jackson Financial by 0.3% in the 3rd quarter. American Century Companies Inc. now owns 1,516,935 shares of the company’s stock worth $153,559,000 after acquiring an additional 4,559 shares during the period. Acadian Asset Management LLC raised its holdings in Jackson Financial by 1.5% in the 2nd quarter. Acadian Asset Management LLC now owns 1,359,477 shares of the company’s stock valued at $120,685,000 after acquiring an additional 20,212 shares during the last quarter. Finally, Norges Bank purchased a new position in shares of Jackson Financial during the 2nd quarter worth $102,131,000. 89.96% of the stock is owned by institutional investors and hedge funds.

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.