Jackson Financial (NYSE:JXN) Price Target Cut to $120.00 by Analysts at Keefe, Bruyette & Woods

Key Points

• Keefe, Bruyette & Woods cut its price target on Jackson Financial to $120 (from $123) and kept a "market perform" rating, implying roughly a 17.4% upside from the current share price.
• Shares traded at $102.23 (down ~1.1%) with a market cap of $7.23 billion, a negative trailing PE of -292, and a 52‑week range of $68.74 to $123.61; the 50‑ and 200‑day moving averages are about $110.02 and $105.38, respectively.
• Jackson beat the quarter with EPS of $6.61 versus $5.90 expected and revenue of $1.94 billion (down 2.8% YoY); analysts' consensus is a "Hold" with an average target of $114.80 and mixed ratings across firms.

Jackson Financial (NYSE:JXN - Get Free Report) had its target price lowered by research analysts at Keefe, Bruyette & Woods from $123.00 to $120.00 in a report released on Friday,Benzinga reports. The brokerage currently has a "market perform" rating on the stock. Keefe, Bruyette & Woods' price objective would suggest a potential upside of 17.39% from the stock's current price.

JXN has been the topic of a number of other research reports. Morgan Stanley set a $105.00 price target on shares of Jackson Financial in a report on Monday, December 15th. Wall Street Zen raised shares of Jackson Financial from a "hold" rating to a "buy" rating in a report on Saturday, February 28th. Barclays cut their price target on shares of Jackson Financial from $138.00 to $136.00 and set an "overweight" rating on the stock in a report on Wednesday. Evercore set a $118.00 price target on shares of Jackson Financial and gave the stock an "in-line" rating in a report on Tuesday, January 6th. Finally, Weiss Ratings reissued a "hold (c+)" rating on shares of Jackson Financial in a report on Monday, December 29th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $114.80.

Jackson Financial Trading Down 1.1%

Jackson Financial stock traded down $1.13 during trading hours on Friday, reaching $102.23. The stock had a trading volume of 180,662 shares, compared to its average volume of 608,919. The stock has a market cap of $7.23 billion, a PE ratio of -292.03 and a beta of 1.45. Jackson Financial has a 52 week low of $68.74 and a 52 week high of $123.61. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.27 and a quick ratio of 0.27. The company has a fifty day simple moving average of $110.02 and a 200-day simple moving average of $105.38.

Jackson Financial (NYSE:JXN - Get Free Report) last announced its quarterly earnings results on Wednesday, February 18th. The company reported $6.61 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $5.90 by $0.71. The firm had revenue of $1.94 billion during the quarter, compared to the consensus estimate of $1.92 billion. Jackson Financial's revenue was down 2.8% on a year-over-year basis. During the same period last year, the business earned $4.65 EPS. Analysts forecast that Jackson Financial will post 20.55 EPS for the current fiscal year.

Institutional Investors Weigh In On Jackson Financial

A number of large investors have recently modified their holdings of the stock. Integrated Wealth Concepts LLC lifted its position in Jackson Financial by 33.2% during the 1st quarter. Integrated Wealth Concepts LLC now owns 5,471 shares of the company's stock valued at $458,000 after acquiring an additional 1,363 shares during the period. Woodline Partners LP purchased a new position in Jackson Financial during the 1st quarter valued at about $4,081,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in Jackson Financial by 3.6% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 210,836 shares of the company's stock valued at $17,664,000 after acquiring an additional 7,380 shares during the period. EverSource Wealth Advisors LLC lifted its position in Jackson Financial by 55.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 911 shares of the company's stock valued at $81,000 after acquiring an additional 325 shares during the period. Finally, Marshall Wace LLP purchased a new position in Jackson Financial during the 2nd quarter valued at about $986,000. Institutional investors own 89.96% of the company's stock.

About Jackson Financial

Jackson Financial Inc is a U.S.-based financial services holding company headquartered in Lansing, Michigan. The company operates primarily through its principal subsidiary, Jackson National Life Insurance Company, and specializes in designing and distributing retirement products. Jackson Financial has been publicly traded on the New York Stock Exchange under the ticker JXN since its initial public offering in May 2022.

The company's core offerings include a broad range of fixed, variable and indexed annuity products aimed at helping individuals preserve and grow retirement assets.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.