Morgan Stanley Raises Jackson Financial (NYSE:JXN) Price Target to $70.00

Jackson Financial (NYSE:JXN - Get Free Report) had its target price raised by equities researchers at Morgan Stanley from $52.00 to $70.00 in a note issued to investors on Monday, Benzinga reports. The brokerage presently has an "equal weight" rating on the stock. Morgan Stanley's target price points to a potential upside of 9.10% from the company's previous close.

Several other brokerages also recently issued reports on JXN. Evercore ISI upped their price target on shares of Jackson Financial from $55.00 to $62.00 and gave the company an "in-line" rating in a report on Thursday. Jefferies Financial Group reaffirmed a "hold" rating and issued a $55.00 price target on shares of Jackson Financial in a report on Tuesday, January 2nd. The Goldman Sachs Group upped their price target on shares of Jackson Financial from $39.00 to $47.00 and gave the company a "neutral" rating in a report on Tuesday, January 9th. Finally, Keefe, Bruyette & Woods upped their price target on shares of Jackson Financial from $68.00 to $75.00 and gave the company an "outperform" rating in a report on Wednesday, April 10th. Four research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $61.80.

Jackson Financial Stock Performance

Shares of Jackson Financial stock traded up $0.78 on Monday, reaching $64.16. 697,146 shares of the stock were exchanged, compared to its average volume of 828,431. The firm has a market capitalization of $4.97 billion, a PE ratio of 6.54 and a beta of 1.57. Jackson Financial has a 1-year low of $26.70 and a 1-year high of $68.97. The business has a fifty day moving average price of $59.11 and a two-hundred day moving average price of $50.43. The company has a current ratio of 0.33, a quick ratio of 0.33 and a debt-to-equity ratio of 0.41.

Jackson Financial (NYSE:JXN - Get Free Report) last released its quarterly earnings data on Wednesday, February 21st. The company reported $2.53 EPS for the quarter, missing analysts' consensus estimates of $3.53 by ($1.00). The company had revenue of $1.93 billion for the quarter, compared to analysts' expectations of $1.40 billion. The company's quarterly revenue was up 3.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $5.66 earnings per share. As a group, research analysts anticipate that Jackson Financial will post 15.89 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Derek G. Kirkland purchased 3,500 shares of the company's stock in a transaction that occurred on Monday, March 4th. The stock was purchased at an average price of $55.67 per share, with a total value of $194,845.00. Following the completion of the transaction, the director now owns 37,726 shares of the company's stock, valued at approximately $2,100,206.42. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 1.70% of the company's stock.

Hedge Funds Weigh In On Jackson Financial

Institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. increased its position in shares of Jackson Financial by 16.1% in the third quarter. Vanguard Group Inc. now owns 10,933,228 shares of the company's stock worth $417,868,000 after acquiring an additional 1,518,547 shares in the last quarter. BlackRock Inc. increased its position in shares of Jackson Financial by 3.7% in the second quarter. BlackRock Inc. now owns 6,480,689 shares of the company's stock worth $198,374,000 after acquiring an additional 231,800 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of Jackson Financial by 10.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 4,175,970 shares of the company's stock worth $213,813,000 after acquiring an additional 399,665 shares in the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of Jackson Financial by 1.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 4,157,287 shares of the company's stock worth $155,525,000 after acquiring an additional 52,814 shares in the last quarter. Finally, Hsbc Holdings PLC increased its position in shares of Jackson Financial by 45,699.9% in the third quarter. Hsbc Holdings PLC now owns 3,241,261 shares of the company's stock worth $124,043,000 after acquiring an additional 3,234,184 shares in the last quarter. 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.