Evercore ISI Cuts Jackson Financial (NYSE:JXN) Price Target to $73.00

Jackson Financial (NYSE:JXN) had its price target lowered by Evercore ISI from $75.00 to $73.00 in a report issued on Wednesday, Benzinga reports. The firm currently has an in-line rating on the stock.

A number of other research firms have also issued reports on JXN. Morgan Stanley raised their target price on shares of Jackson Financial from $52.00 to $70.00 and gave the company an equal weight rating in a research note on Monday, April 15th. Keefe, Bruyette & Woods lowered shares of Jackson Financial from an outperform rating to a market perform rating and raised their target price for the company from $75.00 to $80.00 in a research note on Tuesday, May 14th. Five analysts have rated the stock with a hold rating, According to MarketBeat.com, the company currently has a consensus rating of Hold and a consensus target price of $68.00.

Jackson Financial Stock Performance

Shares of JXN opened at $74.24 on Wednesday. The company’s fifty day moving average is $73.43 and its 200-day moving average is $61.80. Jackson Financial has a 12 month low of $29.28 and a 12 month high of $81.52. The firm has a market cap of $5.66 billion, a price-to-earnings ratio of 1.96 and a beta of 1.54. The company has a quick ratio of 0.32, a current ratio of 0.32 and a debt-to-equity ratio of 0.42.

Jackson Financial (NYSE:JXN) last announced its quarterly earnings results on Wednesday, May 8th. The company reported $4.23 EPS for the quarter, topping the consensus estimate of $3.67 by $0.56. The business had revenue of $2 billion for the quarter, compared to analyst estimates of $1.67 billion. During the same quarter last year, the company earned $3.15 EPS. The business’s revenue for the quarter was up 5.8% compared to the same quarter last year. Equities analysts expect that Jackson Financial will post 16.98 EPS for the current fiscal year.

Jackson Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, June 20th. Shareholders of record on Thursday, June 6th were issued a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 3.77%. The ex-dividend date was Thursday, June 6th. Jackson Financial’s dividend payout ratio (DPR) is presently 7.40%.

Insider Buying and Selling at Jackson Financial

In other Jackson Financial news, COO Devkumar Dilip Ganguly sold 13,000 shares of the stock in a transaction on Friday, May 10th. The shares were sold at an average price of $75.67, for a total value of $983,710.00. Following the completion of the sale, the chief operating officer now directly owns 93,405 shares of the company’s stock, valued at approximately $7,067,956.35. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, COO Devkumar Dilip Ganguly sold 13,000 shares of the firm’s stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $75.67, for a total transaction of $983,710.00. Following the completion of the transaction, the chief operating officer now directly owns 93,405 shares of the company’s stock, valued at approximately $7,067,956.35. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Don W. Cummings acquired 1,445 shares of Jackson Financial stock in a transaction dated Wednesday, June 5th. The shares were acquired at an average cost of $72.70 per share, with a total value of $105,051.50. Following the completion of the acquisition, the chief financial officer now directly owns 45,711 shares in the company, valued at approximately $3,323,189.70. The disclosure for this purchase can be found here. Insiders own 1.30% of the company’s stock.

Hedge Funds Weigh In On Jackson Financial

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. lifted its holdings in shares of Jackson Financial by 16.1% during the 3rd quarter. Vanguard Group Inc. now owns 10,933,228 shares of the company’s stock worth $417,868,000 after acquiring an additional 1,518,547 shares during the period. Dimensional Fund Advisors LP lifted its holdings in Jackson Financial by 10.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 4,175,970 shares of the company’s stock valued at $213,813,000 after purchasing an additional 399,665 shares during the last quarter. Donald Smith & CO. Inc. lifted its holdings in Jackson Financial by 20.1% during the 1st quarter. Donald Smith & CO. Inc. now owns 2,376,476 shares of the company’s stock valued at $157,180,000 after purchasing an additional 397,287 shares during the last quarter. Goldman Sachs Group Inc. lifted its holdings in Jackson Financial by 6.9% during the 4th quarter. Goldman Sachs Group Inc. now owns 1,738,688 shares of the company’s stock valued at $89,021,000 after purchasing an additional 111,875 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in Jackson Financial by 12.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,107,993 shares of the company’s stock valued at $56,729,000 after purchasing an additional 122,302 shares during the last quarter. 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.