Keefe, Bruyette & Woods Cuts Jackson Financial (NYSE:JXN) Price Target to $90.00

Jackson Financial (NYSE:JXN) had its price objective cut by Keefe, Bruyette & Woods from $105.00 to $90.00 in a research note published on Wednesday,Benzinga reports. They currently have a market perform rating on the stock.

Separately, Barclays lifted their price target on shares of Jackson Financial from $116.00 to $118.00 and gave the company an “overweight” rating in a research note on Thursday, February 20th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company. According to MarketBeat, Jackson Financial has an average rating of “Hold” and an average target price of $91.40.

Jackson Financial Stock Performance

Shares of Jackson Financial stock opened at $71.88 on Wednesday. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.30 and a quick ratio of 0.30. The firm has a market cap of $5.22 billion, a price-to-earnings ratio of 6.28 and a beta of 1.49. The stock’s 50-day moving average is $84.68 and its 200-day moving average is $91.89. Jackson Financial has a one year low of $62.81 and a one year high of $115.22.

Jackson Financial (NYSE:JXN) last released its quarterly earnings results on Wednesday, February 19th. The company reported $4.65 earnings per share for the quarter, missing analysts’ consensus estimates of $4.72 by ($0.07). The business had revenue of $1.81 billion during the quarter, compared to analysts’ expectations of $1.81 billion. Equities analysts predict that Jackson Financial will post 20.55 earnings per share for the current fiscal year.

Jackson Financial Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Tuesday, March 11th were given a dividend of $0.80 per share. This is a positive change from Jackson Financial’s previous quarterly dividend of $0.70. This represents a $3.20 annualized dividend and a yield of 4.45%. The ex-dividend date of this dividend was Tuesday, March 11th. Jackson Financial’s dividend payout ratio is 27.95%.

Insider Buying and Selling at Jackson Financial

In other Jackson Financial news, CEO Craig Donald Smith sold 20,607 shares of the company’s stock in a transaction that occurred on Monday, April 7th. The stock was sold at an average price of $69.52, for a total value of $1,432,598.64. Following the sale, the chief executive officer now owns 116,423 shares in the company, valued at $8,093,726.96. This represents a 15.04 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Scott Romine sold 7,000 shares of the firm’s stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $84.43, for a total value of $591,010.00. Following the completion of the sale, the chief executive officer now directly owns 85,276 shares of the company’s stock, valued at approximately $7,199,852.68. The trade was a 7.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.30% of the company’s stock.

Hedge Funds Weigh In On Jackson Financial

Several large investors have recently modified their holdings of JXN. Empowered Funds LLC acquired a new position in Jackson Financial in the 4th quarter valued at about $26,000. Quarry LP bought a new stake in shares of Jackson Financial during the fourth quarter worth approximately $28,000. World Investment Advisors LLC acquired a new position in shares of Jackson Financial in the third quarter valued at approximately $31,000. NBC Securities Inc. bought a new position in shares of Jackson Financial during the first quarter worth approximately $37,000. Finally, SBI Securities Co. Ltd. acquired a new stake in Jackson Financial during the 4th quarter worth approximately $44,000. 89.96% of the stock is owned by institutional investors.

About Jackson Financial

Jackson Financial Inc, through its subsidiaries, provides suite of annuities to retail investors in the United States. The company operates through three segments: Retail Annuities, Institutional Products, and Closed Life and Annuity Blocks. The Retail Annuities segment offers various retirement income and savings products, including variable, fixed index, fixed, and payout annuities, as well as registered index-linked annuities and lifetime income solutions.