Jackson Financial (NYSE:JXN) Reaches New 12-Month High – Here’s What Happened

Jackson Financial Inc. (NYSE:JXN)’s share price hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $102.12 and last traded at $101.85, with a volume of 128222 shares traded. The stock had previously closed at $98.25.

Analyst Ratings Changes

JXN has been the topic of a number of analyst reports. Morgan Stanley increased their target price on Jackson Financial from $86.00 to $89.00 and gave the company an “equal weight” rating in a report on Monday, August 19th. Keefe, Bruyette & Woods increased their price objective on Jackson Financial from $80.00 to $82.00 and gave the company a “market perform” rating in a research note on Wednesday, August 14th. Barclays lifted their price objective on Jackson Financial from $109.00 to $111.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 8th. Finally, Jefferies Financial Group upped their target price on shares of Jackson Financial from $73.00 to $80.00 and gave the company a “hold” rating in a report on Monday, July 29th. Five research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $80.33.

Jackson Financial Price Performance

The company has a market capitalization of $7.73 billion, a price-to-earnings ratio of 2.68 and a beta of 1.50. The company’s 50 day simple moving average is $90.55 and its 200-day simple moving average is $80.81. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.42.

Jackson Financial (NYSE:JXN) last released its quarterly earnings results on Wednesday, August 7th. The company reported $5.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.32 by $1.00. The firm had revenue of $2.01 billion for the quarter, compared to analyst estimates of $1.71 billion. During the same period in the prior year, the business earned $3.34 earnings per share. Jackson Financial’s revenue for the quarter was up 5.0% on a year-over-year basis. On average, equities research analysts predict that Jackson Financial Inc. will post 18.78 earnings per share for the current fiscal year.

Jackson Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 19th. Investors of record on Thursday, September 5th were given a $0.70 dividend. The ex-dividend date of this dividend was Thursday, September 5th. This represents a $2.80 annualized dividend and a dividend yield of 2.76%. Jackson Financial’s dividend payout ratio is presently 7.40%.

Jackson Financial announced that its board has initiated a stock buyback program on Wednesday, August 7th that authorizes the company to repurchase $750.00 million in outstanding shares. This repurchase authorization authorizes the company to repurchase up to 10.8% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s board believes its shares are undervalued.

Insider Buying and Selling

In related news, EVP Carrie Chelko sold 5,500 shares of the firm’s stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $91.31, for a total value of $502,205.00. Following the sale, the executive vice president now directly owns 61,829 shares of the company’s stock, valued at approximately $5,645,605.99. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 1.30% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Hantz Financial Services Inc. purchased a new position in Jackson Financial in the second quarter valued at approximately $25,000. Blue Trust Inc. raised its holdings in Jackson Financial by 232.1% in the third quarter. Blue Trust Inc. now owns 372 shares of the company’s stock valued at $34,000 after buying an additional 260 shares during the period. EverSource Wealth Advisors LLC raised its holdings in Jackson Financial by 400.0% in the first quarter. EverSource Wealth Advisors LLC now owns 395 shares of the company’s stock valued at $27,000 after buying an additional 316 shares during the period. GAMMA Investing LLC raised its holdings in Jackson Financial by 60.8% in the second quarter. GAMMA Investing LLC now owns 775 shares of the company’s stock valued at $58,000 after buying an additional 293 shares during the period. Finally, CWM LLC raised its holdings in Jackson Financial by 80.5% in the second quarter. CWM LLC now owns 1,025 shares of the company’s stock valued at $76,000 after buying an additional 457 shares during the period. Hedge funds and other 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.