Morgan Stanley Forecasts Strong Price Appreciation for Jackson Financial (NYSE:JXN) Stock

Key Points

• Morgan Stanley has increased its price target for Jackson Financial (NYSE:JXN) from $97.00 to $106.00, indicating a potential upside of 5.24%.
• A stock buyback program authorized by Jackson Financial's board will allow the company to repurchase up to $1.00 billion in outstanding shares, reflecting management's belief that the stock is undervalued.
• Jackson Financial's stock currently has an average rating of "Hold" from analysts, with a consensus target price of $103.00.

Jackson Financial (NYSE:JXN - Get Free Report) had its price target lifted by stock analysts at Morgan Stanley from $97.00 to $106.00 in a research report issued on Tuesday,Benzinga reports. The firm currently has an "equal weight" rating on the stock. Morgan Stanley's price objective would indicate a potential upside of 5.24% from the stock's previous close.

Several other equities analysts also recently issued reports on JXN. Weiss Ratings reaffirmed a "hold (c-)" rating on shares of Jackson Financial in a report on Saturday, September 27th. Zacks Research lowered shares of Jackson Financial from a "strong-buy" rating to a "hold" rating in a research report on Friday, September 12th. Barclays lifted their target price on shares of Jackson Financial from $108.00 to $114.00 and gave the company an "overweight" rating in a research report on Monday, July 7th. Keefe, Bruyette & Woods lifted their target price on shares of Jackson Financial from $102.00 to $105.00 and gave the company a "market perform" rating in a research report on Monday, August 11th. Finally, Jefferies Financial Group lifted 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. One equities research analyst has rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $103.00.

Jackson Financial Stock Performance

JXN stock traded down $0.90 during midday trading on Tuesday, hitting $100.72. 49,093 shares of the stock traded hands, compared to its average volume of 742,972. The firm has a market cap of $7.02 billion, a P/E ratio of -1,681.87 and a beta of 1.45. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.28 and a quick ratio of 0.28. The stock's fifty day simple moving average is $96.33 and its 200-day simple moving average is $87.42. Jackson Financial has a 1-year low of $64.70 and a 1-year high of $115.22.

Jackson Financial (NYSE:JXN - Get Free Report) last released its quarterly earnings results on Tuesday, August 5th. The company reported $4.87 EPS for the quarter, beating the consensus estimate of $4.61 by $0.26. The company had revenue of ($471.00) million for the quarter, compared to analyst estimates of $1.77 billion. Jackson Financial had a net margin of 1.73% and a return on equity of 14.73%. The firm's revenue was down 3.3% on a year-over-year basis. During the same quarter last year, the business earned $5.32 earnings per share. On average, analysts expect that Jackson Financial will post 20.55 earnings per share for the current year.

Jackson Financial declared that its board has authorized a stock buyback program on Thursday, September 18th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the company to repurchase up to 14.4% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company's management believes its stock is undervalued.

Hedge Funds Weigh In On Jackson Financial

Hedge funds and other institutional investors have recently modified their holdings of the business. Raiffeisen Bank International AG raised its stake in Jackson Financial by 11.7% during the first quarter. Raiffeisen Bank International AG now owns 1,270 shares of the company's stock worth $106,000 after purchasing an additional 133 shares during the period. Triumph Capital Management raised its stake in Jackson Financial by 3.6% during the second quarter. Triumph Capital Management now owns 3,990 shares of the company's stock worth $354,000 after purchasing an additional 138 shares during the period. Bank of Montreal Can raised its stake in Jackson Financial by 1.1% during the second quarter. Bank of Montreal Can now owns 12,857 shares of the company's stock worth $1,142,000 after purchasing an additional 142 shares during the period. CWM LLC raised its stake in Jackson Financial by 7.9% during the first quarter. CWM LLC now owns 1,975 shares of the company's stock worth $165,000 after purchasing an additional 145 shares during the period. Finally, Tcfg Wealth Management LLC raised its stake in Jackson Financial by 3.5% during the second quarter. Tcfg Wealth Management LLC now owns 4,356 shares of the company's stock worth $387,000 after purchasing an additional 149 shares during the period. 89.96% of the stock is owned by hedge funds and other institutional investors.

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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