Keefe, Bruyette & Woods Increases Jackson Financial (NYSE:JXN) Price Target to $110.00

Key Points

• Keefe, Bruyette & Woods raised their price target for Jackson Financial from $105.00 to $110.00, suggesting a potential upside of 10.74% from the last closing price.
• Jackson Financial has an average rating of "Hold" among analysts, with one Buy, five Hold, and one Sell rating.
• The company recently authorized a $1.00 billion share repurchase plan, indicating management's belief that the stock may be undervalued.

Jackson Financial (NYSE:JXN - Get Free Report) had its target price increased by Keefe, Bruyette & Woods from $105.00 to $110.00 in a research note issued on Thursday,Benzinga reports. The brokerage presently has a "market perform" rating on the stock. Keefe, Bruyette & Woods' price target would indicate a potential upside of 10.74% from the company's previous close.

Other equities research analysts have also recently issued reports about the stock. Jefferies Financial Group increased their target price on shares of Jackson Financial from $88.00 to $95.00 and gave the company a "hold" rating in a research report on Monday, August 11th. Morgan Stanley boosted their target price on Jackson Financial from $97.00 to $106.00 and gave the stock an "equal weight" rating in a research note on Tuesday. Weiss Ratings reaffirmed a "hold (c-)" rating on shares of Jackson Financial in a report on Wednesday. Barclays increased their price target on shares of Jackson Financial from $118.00 to $125.00 and gave the stock an "overweight" rating in a research note on Wednesday. Finally, Evercore ISI raised their price target on Jackson Financial from $100.00 to $110.00 and gave the company an "underperform" rating in a report on Thursday. One research analyst has rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $109.20.

Jackson Financial Stock Performance

JXN traded down $1.56 on Thursday, reaching $99.33. 138,854 shares of the stock were exchanged, compared to its average volume of 739,477. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.28 and a quick ratio of 0.28. Jackson Financial has a fifty-two week low of $64.70 and a fifty-two week high of $115.22. The firm has a market capitalization of $6.92 billion, a PE ratio of -1,654.56 and a beta of 1.45. The company's 50-day moving average price is $96.87 and its 200 day moving average price is $87.60.

Jackson Financial (NYSE:JXN - Get Free Report) last announced its quarterly earnings data on Tuesday, August 5th. The company reported $4.87 EPS for the quarter, beating the consensus estimate of $4.61 by $0.26. The business had revenue of ($471.00) million during the quarter, compared to analysts' expectations of $1.77 billion. Jackson Financial had a net margin of 1.73% and a return on equity of 14.73%. The business's quarterly revenue was down 3.3% compared to the same quarter last year. During the same period in the previous year, the business posted $5.32 EPS. As a group, sell-side analysts forecast that Jackson Financial will post 20.55 EPS for the current fiscal year.

Jackson Financial announced that its Board of Directors has authorized a share repurchase plan on Thursday, September 18th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the company to reacquire up to 14.4% of its stock through open market purchases. Stock buyback plans are often an indication that the company's leadership believes its shares are undervalued.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. Twin Peaks Wealth Advisors LLC acquired a new position in Jackson Financial during the 2nd quarter valued at approximately $30,000. Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in Jackson Financial by 111.6% during the second quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 438 shares of the company's stock valued at $39,000 after buying an additional 231 shares in the last quarter. NBC Securities Inc. acquired a new stake in shares of Jackson Financial during the first quarter valued at approximately $37,000. Brooklyn Investment Group raised its stake in Jackson Financial by 987.0% during the 1st quarter. Brooklyn Investment Group now owns 500 shares of the company's stock valued at $42,000 after purchasing an additional 454 shares during the period. Finally, Sound Income Strategies LLC raised its position in Jackson Financial by 1,342.9% during the second quarter. Sound Income Strategies LLC now owns 505 shares of the company's stock valued at $45,000 after buying an additional 470 shares during the period. Institutional investors and hedge funds own 89.96% of the company's stock.

About Jackson Financial

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.

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