Jackson Financial (NYSE:JXN) Sets New 52-Week High – Still a Buy?

Shares of Jackson Financial Inc. (NYSE:JXN) hit a new 52-week high on Tuesday. The stock traded as high as $142.56 and last traded at $142.8360, with a volume of 246,931 shares trading hands. The stock had previously closed at $137.64.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on JXN shares. Barclays set a $151.00 price target on shares of Jackson Financial in a report on Thursday, October 8th. Weiss Ratings reissued a “hold (c)” rating on shares of Jackson Financial in a research report on Monday. Wall Street Zen upgraded Jackson Financial from a “hold” rating to a “buy” rating in a research note on Saturday, August 8th. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $140.00 target price on shares of Jackson Financial in a research report on Friday, September 18th. Finally, Evercore set a $135.00 price target on Jackson Financial in a research note on Wednesday, August 5th. Two equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $134.20.

Jackson Financial Price Performance

The company has a current ratio of 0.26, a quick ratio of 0.26 and a debt-to-equity ratio of 0.53. The company has a market cap of $9.58 billion, a P/E ratio of 199.07 and a beta of 1.31. The company’s 50-day moving average price is $133.22 and its two-hundred day moving average price is $118.18.

Jackson Financial (NYSE:JXN) last announced its quarterly earnings data on Monday, August 3rd. The company reported $7.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.72 by $1.58. Jackson Financial had a return on equity of 18.93% and a net margin of 1.59%. The firm had revenue of $2 billion for the quarter, compared to analysts’ expectations of $1.91 billion.

Insider Activity at Jackson Financial

In related news, EVP Carrie Chelko sold 7,500 shares of the company’s stock in a transaction that occurred on Wednesday, August 5th. The stock was sold at an average price of $134.24, for a total transaction of $1,006,800.00. Following the sale, the executive vice president directly owned 80,914 shares of the company’s stock, valued at approximately $10,861,895.36. This represents a 8.48% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Christopher Raub sold 5,000 shares of the firm’s stock in a transaction on Wednesday, August 12th. The stock was sold at an average price of $130.69, for a total value of $653,450.00. Following the transaction, the chief executive officer owned 42,160 shares in the company, valued at $5,509,890.40. This trade represents a 10.60% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 1.40% of the stock is currently owned by company insiders.

Institutional Trading of Jackson Financial

Several institutional investors have recently added to or reduced their stakes in JXN. Bank of New York Mellon Corp lifted its position in shares of Jackson Financial by 2.8% in the 1st quarter. Bank of New York Mellon Corp now owns 910,853 shares of the company’s stock worth $96,295,000 after buying an additional 24,747 shares during the last quarter. Squarepoint Ops LLC grew its position in shares of Jackson Financial by 96.6% during the 2nd quarter. Squarepoint Ops LLC now owns 166,794 shares of the company’s stock valued at $17,078,000 after buying an additional 81,970 shares during the last quarter. William John Sempolinski acquired a new stake in Jackson Financial during the second quarter worth about $2,222,000. Renaissance Technologies LLC acquired a new stake in Jackson Financial during the first quarter worth about $10,836,000. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in Jackson Financial in the second quarter worth about $3,895,000. Institutional investors own 89.96% of the company’s stock.

About Jackson Financial

Jackson Financial Inc is a U.S.-based financial services company focused on helping individuals and institutions pursue retirement security. Through its operating subsidiaries, the company develops and distributes annuity products designed to provide income, investment growth opportunities and protection against certain retirement-related risks.

Jackson’s offerings include variable annuities, fixed annuities and fixed-indexed annuities, along with related retirement planning solutions.