Jackson Financial (NYSE:JXN) Raised to Buy at Wall Street Zen

Key Points

• Jackson Financial was upgraded to “buy” by Wall Street Zen. Other analysts have also raised ratings or price targets, giving the stock a consensus “Moderate Buy” rating and an average target of $133.80.
• The company reported quarterly earnings of $7.30 per share, exceeding estimates of $5.72, while revenue reached $2 billion versus expectations of $1.91 billion.
• JXN opened at $129.61, near its 52-week high of $137.99. Institutional investors own nearly 90% of shares, while an executive recently sold 7,500 shares at an average price of $134.24.

Jackson Financial (NYSE:JXN - Get Free Report) was upgraded by Wall Street Zen from a "hold" rating to a "buy" rating in a research note issued on Saturday.

Other research analysts have also recently issued reports about the stock. Jefferies Financial Group upgraded shares of Jackson Financial from a "hold" rating to a "buy" rating and upped their price target for the stock from $120.00 to $140.00 in a report on Friday, July 10th. Barclays boosted their price objective on shares of Jackson Financial from $139.00 to $149.00 and gave the company an "overweight" rating in a research report on Tuesday. Evercore set a $135.00 target price on shares of Jackson Financial in a research note on Wednesday. Keefe, Bruyette & Woods raised their target price on shares of Jackson Financial from $130.00 to $140.00 and gave the stock a "market perform" rating in a research report on Wednesday. Finally, Weiss Ratings raised shares of Jackson Financial from a "hold (c-)" rating to a "hold (c)" rating in a research note on Tuesday. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, Jackson Financial currently has an average rating of "Moderate Buy" and a consensus price target of $133.80.

Jackson Financial Price Performance

JXN opened at $129.61 on Friday. The business has a fifty day moving average of $114.28 and a 200 day moving average of $111.64. Jackson Financial has a 52-week low of $88.20 and a 52-week high of $137.99. The company has a quick ratio of 0.27, a current ratio of 0.26 and a debt-to-equity ratio of 0.53. The stock has a market cap of $9.04 billion, a P/E ratio of 182.55 and a beta of 1.30.

Jackson Financial (NYSE:JXN - Get Free Report) last released its earnings results on Monday, August 3rd. The company reported $7.30 earnings per share for the quarter, topping analysts' consensus estimates of $5.72 by $1.58. Jackson Financial had a return on equity of 18.93% and a net margin of 1.59%.The business had revenue of $2 billion for the quarter, compared to analyst estimates of $1.91 billion.

Insider Transactions at Jackson Financial

In other Jackson Financial news, EVP Carrie Chelko sold 7,500 shares of the business's stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $134.24, for a total value of $1,006,800.00. Following the completion of the transaction, the executive vice president directly owned 80,914 shares in the company, valued at approximately $10,861,895.36. The trade was a 8.48% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.40% of the stock is owned by company insiders.

Institutional Trading of Jackson Financial

A number of institutional investors have recently modified their holdings of JXN. Dimensional Fund Advisors LP raised its stake in shares of Jackson Financial by 0.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 4,060,350 shares of the company's stock worth $429,240,000 after acquiring an additional 18,740 shares in the last quarter. Hsbc Holdings PLC boosted its stake in Jackson Financial by 16.5% in the fourth quarter. Hsbc Holdings PLC now owns 1,550,942 shares of the company's stock valued at $166,476,000 after acquiring an additional 220,095 shares in the last quarter. Norges Bank purchased a new position in Jackson Financial in the fourth quarter worth $129,878,000. Morgan Stanley grew its holdings in Jackson Financial by 6.0% in the fourth quarter. Morgan Stanley now owns 1,196,405 shares of the company's stock worth $127,597,000 after purchasing an additional 67,796 shares during the last quarter. Finally, Federated Hermes Inc. increased its position in shares of Jackson Financial by 14.8% during the fourth quarter. Federated Hermes Inc. now owns 981,046 shares of the company's stock worth $104,629,000 after purchasing an additional 126,611 shares in the last quarter. 89.96% of the stock is currently owned by institutional investors.

Jackson Financial Company Profile

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.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source