Jackson Financial (NYSE:JXN) Rating Lowered to Hold at Wall Street Zen

Key Points

• Wall Street Zen downgraded Jackson Financial (JXN) from a "buy" to a "hold" in a report released on Saturday.
• Multiple brokers have trimmed price targets and the stock's consensus is an overall "Hold" with an average price target of $114.80.
• Jackson beat the quarter's estimates with EPS of $6.61 versus $5.90 and revenue of $1.94B versus $1.92B, although revenue was down 2.8% year‑over‑year.

Jackson Financial (NYSE:JXN - Get Free Report) was downgraded by equities researchers at Wall Street Zen from a "buy" rating to a "hold" rating in a report released on Saturday.

A number of other brokerages also recently weighed in on JXN. Barclays cut their price target on shares of Jackson Financial from $138.00 to $136.00 and set an "overweight" rating for the company in a report on Wednesday. Morgan Stanley set a $105.00 price target on shares of Jackson Financial in a report on Monday, December 15th. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of Jackson Financial in a report on Monday, December 29th. Keefe, Bruyette & Woods cut their price target on shares of Jackson Financial from $123.00 to $120.00 and set a "market perform" rating for the company in a report on Friday. Finally, Evercore set a $118.00 price target on shares of Jackson Financial and gave the company an "in-line" rating in a research note on Tuesday, January 6th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $114.80.

Jackson Financial Stock Performance

Shares of Jackson Financial stock opened at $101.68 on Friday. The company has a 50 day moving average of $109.68 and a 200-day moving average of $105.37. Jackson Financial has a 1-year low of $68.74 and a 1-year high of $123.61. The company has a current ratio of 0.27, a quick ratio of 0.27 and a debt-to-equity ratio of 0.47. The company has a market cap of $7.19 billion, a PE ratio of -290.50 and a beta of 1.45.

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

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in JXN. Integrated Wealth Concepts LLC raised its holdings in Jackson Financial by 33.2% during the 1st quarter. Integrated Wealth Concepts LLC now owns 5,471 shares of the company's stock worth $458,000 after purchasing an additional 1,363 shares during the last quarter. Woodline Partners LP bought a new position in Jackson Financial during the 1st quarter worth approximately $4,081,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings 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 worth $17,664,000 after purchasing an additional 7,380 shares during the last quarter. EverSource Wealth Advisors LLC raised its holdings in Jackson Financial by 55.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 911 shares of the company's stock worth $81,000 after purchasing an additional 325 shares during the last quarter. Finally, Marshall Wace LLP bought a new position in Jackson Financial during the 2nd quarter worth approximately $986,000. Institutional investors own 89.96% of the company's stock.

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.

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