Keefe, Bruyette & Woods Issues Positive Forecast for Jackson Financial (NYSE:JXN) Stock Price

Jackson Financial (NYSE:JXN) had its target price boosted by Keefe, Bruyette & Woods from $103.00 to $105.00 in a research report sent to investors on Friday,Benzinga reports. The firm currently has a market perform rating on the stock.

JXN has been the topic of several other research reports. Evercore ISI cut Jackson Financial from an “in-line” rating to an “underperform” rating and upped their price target for the company from $74.00 to $95.00 in a report on Thursday, November 14th. Barclays boosted their target price 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 given a buy rating to the stock. Based on data from MarketBeat.com, Jackson Financial has an average rating of “Hold” and an average target price of $97.40.

Jackson Financial Stock Performance

JXN opened at $91.66 on Friday. The company has a market capitalization of $6.77 billion, a price-to-earnings ratio of 8.01 and a beta of 1.47. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.30 and a quick ratio of 0.30. Jackson Financial has a 1-year low of $54.47 and a 1-year high of $115.22. The business has a 50 day moving average price of $90.74 and a two-hundred day moving average price of $92.88.

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

Jackson Financial Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Tuesday, March 11th will be paid a $0.80 dividend. The ex-dividend date is Tuesday, March 11th. This is an increase from Jackson Financial’s previous quarterly dividend of $0.70. This represents a $3.20 dividend on an annualized basis and a dividend yield of 3.49%. Jackson Financial’s dividend payout ratio is 27.95%.

Insider Transactions at Jackson Financial

In related news, Director Gregory T. Durant purchased 1,500 shares of the company’s stock in a transaction dated Wednesday, December 11th. The shares were acquired at an average cost of $90.28 per share, with a total value of $135,420.00. Following the completion of the purchase, the director now owns 32,023 shares of the company’s stock, valued at $2,891,036.44. The trade was a 4.91 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.30% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Jackson Financial

A number of hedge funds have recently modified their holdings of the stock. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of Jackson Financial in the fourth quarter worth $12,852,000. Ameriflex Group Inc. acquired a new position in shares of Jackson Financial in the fourth quarter worth $250,000. Mackenzie Financial Corp boosted its holdings in Jackson Financial by 80.0% in the fourth quarter. Mackenzie Financial Corp now owns 30,732 shares of the company’s stock worth $2,676,000 after purchasing an additional 13,656 shares in the last quarter. Forum Financial Management LP boosted its holdings in Jackson Financial by 27.9% in the fourth quarter. Forum Financial Management LP now owns 3,447 shares of the company’s stock worth $300,000 after purchasing an additional 752 shares in the last quarter. Finally, Public Employees Retirement System of Ohio bought a new stake in Jackson Financial in the fourth quarter worth $3,604,000. 89.96% of the stock is owned by institutional investors and hedge funds.

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.