Jackson Financial (NYSE:JXN) Given New $70.00 Price Target at Morgan Stanley

Jackson Financial (NYSE:JXN) had its target price hoisted by Morgan Stanley from $52.00 to $70.00 in a report published on Monday, Benzinga reports. The brokerage currently has an equal weight rating on the stock.

A number of other analysts have also recently weighed in on the stock. The Goldman Sachs Group increased their target price on shares of Jackson Financial from $39.00 to $47.00 and gave the stock a neutral rating in a report on Tuesday, January 9th. Keefe, Bruyette & Woods upped their price target on shares of Jackson Financial from $68.00 to $75.00 and gave the stock an outperform rating in a research report on Wednesday, April 10th. Jefferies Financial Group restated a hold rating and set a $55.00 price target on shares of Jackson Financial in a research report on Tuesday, January 2nd. Finally, Evercore ISI upped their price target on shares of Jackson Financial from $55.00 to $62.00 and gave the stock an in-line rating in a research report on Thursday, April 11th. Four analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat, Jackson Financial has an average rating of Hold and a consensus target price of $61.80.

Jackson Financial Stock Down 0.7 %

Shares of NYSE:JXN opened at $63.56 on Monday. The stock has a market capitalization of $4.92 billion, a price-to-earnings ratio of 6.48 and a beta of 1.57. Jackson Financial has a 1-year low of $26.70 and a 1-year high of $68.97. The company’s fifty day moving average is $59.40 and its two-hundred day moving average is $50.61. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.33 and a current ratio of 0.33.

Jackson Financial (NYSE:JXN) last issued its earnings results on Wednesday, February 21st. The company reported $2.53 earnings per share for the quarter, missing analysts’ consensus estimates of $3.53 by ($1.00). The business had revenue of $1.93 billion for the quarter, compared to the consensus estimate of $1.40 billion. The business’s revenue for the quarter was up 3.3% compared to the same quarter last year. During the same quarter last year, the business earned $5.66 earnings per share. Equities analysts anticipate that Jackson Financial will post 15.89 EPS for the current year.

Jackson Financial Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 21st. Investors of record on Tuesday, March 12th were given a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 4.41%. The ex-dividend date of this dividend was Monday, March 11th. This is a positive change from Jackson Financial’s previous quarterly dividend of $0.62. Jackson Financial’s dividend payout ratio is currently 28.54%.

Insider Activity at Jackson Financial

In related news, Director Derek G. Kirkland bought 3,500 shares of the firm’s stock in a transaction that occurred on Monday, March 4th. The stock was purchased at an average price of $55.67 per share, for a total transaction of $194,845.00. Following the transaction, the director now directly owns 37,726 shares of the company’s stock, valued at approximately $2,100,206.42. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.70% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Jackson Financial

A number of institutional investors and hedge funds have recently bought and sold shares of JXN. NBC Securities Inc. bought a new position in Jackson Financial in the 3rd quarter valued at about $28,000. GAMMA Investing LLC grew its position in Jackson Financial by 47.0% in the 1st quarter. GAMMA Investing LLC now owns 482 shares of the company’s stock valued at $32,000 after buying an additional 154 shares in the last quarter. Daiwa Securities Group Inc. bought a new position in Jackson Financial in the 4th quarter valued at about $36,000. Headlands Technologies LLC bought a new position in Jackson Financial in the 4th quarter valued at about $38,000. Finally, Federated Hermes Inc. lifted its holdings in Jackson Financial by 199.8% in the 3rd quarter. Federated Hermes Inc. now owns 1,382 shares of the company’s stock valued at $38,000 after acquiring an additional 921 shares during the last quarter. Institutional investors own 89.96% of the company’s stock.

Jackson Financial Company Profile

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.