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

Jackson Financial Inc. (NYSE:JXN) shares reached a new 52-week high during trading on Wednesday . The company traded as high as $123.68 and last traded at $123.8010, with a volume of 50502 shares traded. The stock had previously closed at $121.92.

Analysts Set New Price Targets

Several brokerages have commented on JXN. Barclays upped their target price on shares of Jackson Financial from $136.00 to $139.00 and gave the company an “overweight” rating in a research report on Tuesday, July 7th. Keefe, Bruyette & Woods lifted their price objective on Jackson Financial from $125.00 to $130.00 and gave the stock a “market perform” rating in a research note on Monday. Wall Street Zen downgraded Jackson Financial from a “buy” rating to a “hold” rating in a report on Saturday, April 11th. Jefferies Financial Group raised Jackson Financial from a “hold” rating to a “buy” rating and increased their target price for the company from $120.00 to $140.00 in a research note on Friday, July 10th. Finally, Weiss Ratings lowered 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 given a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $126.40.

Jackson Financial Trading Up 2.2%

The company’s fifty day simple moving average is $108.39 and its two-hundred day simple moving average is $109.93. The company has a quick ratio of 0.27, a current ratio of 0.27 and a debt-to-equity ratio of 0.49. The company has a market capitalization of $8.69 billion, a price-to-earnings ratio of -20.39 and a beta of 1.32.

Jackson Financial Dividend Announcement

The firm 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. This represents a $3.60 annualized dividend and a yield of 2.9%. The ex-dividend date of this dividend was Thursday, June 11th. Jackson Financial’s dividend payout ratio (DPR) is presently -58.92%.

Institutional Investors Weigh In On Jackson Financial

Large investors have recently modified their holdings of the business. Sound Income Strategies LLC grew its stake in 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 buying an additional 98 shares during the last quarter. Wetzel Investment Advisors Inc. lifted its position in Jackson Financial by 4.5% during the fourth quarter. Wetzel Investment Advisors Inc. now owns 2,300 shares of the company’s stock worth $245,000 after acquiring an additional 100 shares during the last quarter. Seeds Investor LLC boosted its holdings in shares of Jackson Financial by 4.5% during the fourth quarter. Seeds Investor LLC now owns 2,373 shares of the company’s stock worth $253,000 after acquiring an additional 102 shares during the period. Triumph Capital Management boosted its holdings in shares of Jackson Financial by 2.7% during the fourth quarter. Triumph Capital Management now owns 4,110 shares of the company’s stock worth $438,000 after acquiring an additional 107 shares during the period. Finally, CIBC Asset Management Inc grew its position in shares of Jackson Financial by 1.7% in the fourth quarter. CIBC Asset Management Inc now owns 6,946 shares of the company’s stock valued at $741,000 after purchasing an additional 113 shares during the last quarter. 89.96% of the stock is currently owned by 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.