Jackson Financial (NYSE:JXN) Trading 2% Higher Following Analyst Upgrade

Jackson Financial Inc. (NYSE:JXN - Get Free Report) shares were up 2% during mid-day trading on Wednesday after Keefe, Bruyette & Woods raised their price target on the stock from $68.00 to $75.00. Keefe, Bruyette & Woods currently has an outperform rating on the stock. Jackson Financial traded as high as $66.29 and last traded at $66.29. Approximately 50,813 shares changed hands during mid-day trading, a decline of 94% from the average daily volume of 826,453 shares. The stock had previously closed at $64.96.

Several other research firms also recently weighed in on JXN. The Goldman Sachs Group raised their price objective on Jackson Financial from $39.00 to $47.00 and gave the company a "neutral" rating in a report on Tuesday, January 9th. Jefferies Financial Group reaffirmed a "hold" rating and set a $55.00 target price on shares of Jackson Financial in a report on Tuesday, January 2nd. Finally, Morgan Stanley lifted their target price on Jackson Financial from $49.00 to $52.00 and gave the stock an "equal weight" rating in a report on Friday, March 1st. Three analysts have rated the stock with a hold rating and one has given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $57.25.

Insider Activity

In other Jackson Financial news, Director Derek G. Kirkland acquired 3,500 shares of the company's stock in a transaction dated Monday, March 4th. The shares were bought at an average cost of $55.67 per share, with a total value of $194,845.00. Following the purchase, the director now directly owns 37,726 shares of the company's stock, valued at $2,100,206.42. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.70% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in JXN. NBC Securities Inc. bought a new stake in Jackson Financial in the 3rd quarter valued at about $28,000. GAMMA Investing LLC increased its position in Jackson Financial by 47.0% in the 1st quarter. GAMMA Investing LLC now owns 482 shares of the company's stock valued at $32,000 after buying an additional 154 shares in the last quarter. Daiwa Securities Group Inc. bought a new stake in Jackson Financial in the 4th quarter valued at about $36,000. Headlands Technologies LLC bought a new stake in Jackson Financial in the 4th quarter valued at about $38,000. Finally, Federated Hermes Inc. increased its position in Jackson Financial by 199.8% in the 3rd quarter. Federated Hermes Inc. now owns 1,382 shares of the company's stock valued at $38,000 after buying an additional 921 shares in the last quarter. 89.96% of the stock is owned by institutional investors and hedge funds.

Jackson Financial Price Performance

The firm has a market capitalization of $5.08 billion, a P/E ratio of 6.69 and a beta of 1.57. The business has a 50-day moving average of $58.22 and a 200 day moving average of $49.79. 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 issued its earnings results 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 during the quarter, compared to analyst estimates of $1.40 billion. Jackson Financial's quarterly revenue was up 3.3% compared to the same quarter last year. During the same period last year, the firm earned $5.66 earnings per share. On average, sell-side analysts predict that Jackson Financial Inc. will post 15.59 earnings per share for the current fiscal year.

Jackson Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 21st. Shareholders of record on Tuesday, March 12th were issued a dividend of $0.70 per share. This is a positive change from Jackson Financial's previous quarterly dividend of $0.62. This represents a $2.80 dividend on an annualized basis and a yield of 4.27%. The ex-dividend date was Monday, March 11th. Jackson Financial's payout ratio is currently 28.54%.

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.