Jackson Financial (NYSE:JXN) Shares Gap Up After Analyst Upgrade

Key Points

• Jackson Financial shares jumped after Jefferies Financial Group upgraded the stock from hold to buy and raised its price target to $140 from $120. The stock opened at $116.03 versus a prior close of $110.79 and was last trading around $120.11.
• Other analysts have been mixed on the name, with recent rating changes including downgrades from Wall Street Zen and Weiss Ratings, while Barclays and Keefe, Bruyette & Woods raised their price targets. MarketBeat reports an average rating of Moderate Buy with an average price target of $125.40.
• The company also recently paid a quarterly dividend of $0.90 per share, equal to a 3.0% annualized yield. Jackson Financial is largely owned by institutional investors, with nearly 90% of shares held by funds and other institutions.

Jackson Financial Inc. (NYSE:JXN - Get Free Report) gapped up prior to trading on Friday after Jefferies Financial Group upgraded the stock from a hold rating to a buy rating. The stock had previously closed at $110.79, but opened at $116.03. Jefferies Financial Group now has a $140.00 price target on the stock, up from their previous price target of $120.00. Jackson Financial shares last traded at $120.1050, with a volume of 233,712 shares trading hands.

Other research analysts have also recently issued reports about the stock. Wall Street Zen cut shares of Jackson Financial from a "buy" rating to a "hold" rating in a report on Saturday, April 11th. Weiss Ratings cut Jackson Financial from a "hold (c)" rating to a "hold (c-)" rating in a report on Tuesday, May 12th. Keefe, Bruyette & Woods raised their price objective on Jackson Financial from $120.00 to $125.00 and gave the company a "market perform" rating in a research note on Wednesday, May 13th. Finally, Barclays lifted their price objective on Jackson Financial from $136.00 to $139.00 and gave the stock an "overweight" rating in a report on Tuesday. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and four have given a Hold rating to the company's stock. According to data from MarketBeat.com, Jackson Financial presently has an average rating of "Moderate Buy" and an average price target of $125.40.

Institutional Trading of Jackson Financial

Large investors have recently modified their holdings of the business. Allworth Financial LP boosted its holdings in shares of Jackson Financial by 404.0% during the third quarter. Allworth Financial LP now owns 252 shares of the company's stock worth $26,000 after purchasing an additional 202 shares during the last quarter. Rothschild Investment LLC lifted its position in Jackson Financial by 79.9% during the fourth quarter. Rothschild Investment LLC now owns 322 shares of the company's stock worth $34,000 after buying an additional 143 shares during the period. Plato Investment Management Ltd purchased a new position in Jackson Financial during the fourth quarter worth about $35,000. Advisory Services Network LLC acquired a new stake in Jackson Financial in the 3rd quarter worth about $37,000. Finally, Signature Equity Partners LLC acquired a new stake in Jackson Financial in the 1st quarter worth about $38,000. 89.96% of the stock is currently owned by institutional investors and hedge funds.

Jackson Financial Stock Up 7.2%

The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.27 and a current ratio of 0.27. The company has a market cap of $8.28 billion, a PE ratio of -19.44 and a beta of 1.32. The firm has a fifty day simple moving average of $108.00 and a 200 day simple moving average of $109.68.

Jackson Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, June 25th. Investors of record on Thursday, June 11th were given a $0.90 dividend. The ex-dividend date of this dividend was Thursday, June 11th. This represents a $3.60 annualized dividend and a dividend yield of 3.0%. Jackson Financial's dividend payout ratio (DPR) is currently -58.92%.

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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