Jackson Financial (NYSE:JXN) Hits New 52-Week High - Here's Why

Key Points

• Jackson Financial reached a new 52-week high of $138.25, with shares last trading near $137.76 after previously closing at $132.78.
• Analyst sentiment has improved, including upgrades from Jefferies and Wall Street Zen, while Barclays raised its price target to $149. The stock has a consensus rating of “Moderate Buy” and an average target of $133.80.
• Jackson Financial exceeded quarterly expectations with EPS of $7.30 versus a $5.72 estimate and revenue of $2 billion. The company also declared a quarterly dividend of $0.90 per share, equal to a 2.6% annualized yield.

Jackson Financial Inc. (NYSE:JXN - Get Free Report)'s share price reached a new 52-week high on Wednesday . The company traded as high as $138.25 and last traded at $137.7560, with a volume of 49881 shares. The stock had previously closed at $132.78.

Analysts Set New Price Targets

Several research analysts have recently weighed in on JXN shares. Jefferies Financial Group upgraded Jackson Financial from a "hold" rating to a "buy" rating and boosted their price target for the stock from $120.00 to $140.00 in a research note on Friday, July 10th. Weiss Ratings upgraded shares of Jackson Financial from a "hold (c-)" rating to a "hold (c)" rating in a research report on Tuesday, August 4th. Wall Street Zen raised Jackson Financial from a "hold" rating to a "buy" rating in a research report on Saturday, August 8th. Barclays raised their price target on Jackson Financial from $139.00 to $149.00 and gave the company an "overweight" rating in a report on Tuesday, August 4th. Finally, Keefe, Bruyette & Woods boosted their price objective on Jackson Financial from $130.00 to $140.00 and gave the company a "market perform" rating in a research report on Wednesday, August 5th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and four have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $133.80.

Jackson Financial Price Performance

The company has a current ratio of 0.26, a quick ratio of 0.26 and a debt-to-equity ratio of 0.53. The stock has a market capitalization of $9.27 billion, a PE ratio of 192.86 and a beta of 1.30. The firm's 50-day moving average price is $122.75 and its 200-day moving average price is $113.52.

Jackson Financial (NYSE:JXN - Get Free Report) last announced its quarterly earnings data on Monday, August 3rd. The company reported $7.30 EPS for the quarter, beating the consensus estimate of $5.72 by $1.58. The company had revenue of $2 billion for the quarter, compared to the consensus estimate of $1.91 billion. Jackson Financial had a return on equity of 18.93% and a net margin of 1.59%.

Jackson Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 24th. Stockholders of record on Tuesday, September 15th will be given a dividend of $0.90 per share. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $3.60 dividend on an annualized basis and a dividend yield of 2.6%. Jackson Financial's dividend payout ratio (DPR) is 507.04%.

Insider Buying and Selling

In related news, EVP Carrie Chelko sold 7,500 shares of the stock in a transaction that occurred on Wednesday, August 5th. The stock was sold at an average price of $134.24, for a total value of $1,006,800.00. Following the transaction, the executive vice president owned 80,914 shares of the company's stock, valued at $10,861,895.36. This represents a 8.48% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Christopher Raub sold 5,000 shares of Jackson Financial stock in a transaction on Wednesday, August 12th. The shares were sold at an average price of $130.69, for a total value of $653,450.00. Following the sale, the chief executive officer directly owned 42,160 shares of the company's stock, valued at approximately $5,509,890.40. This trade represents a 10.60% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 1.40% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Triumph Capital Management raised its position in Jackson Financial by 2.7% during the fourth quarter. Triumph Capital Management now owns 4,110 shares of the company's stock worth $438,000 after acquiring an additional 107 shares during the period. CIBC Asset Management Inc increased its stake in Jackson Financial by 1.7% during the 4th quarter. CIBC Asset Management Inc now owns 6,946 shares of the company's stock worth $741,000 after buying an additional 113 shares in the last quarter. UMB Bank n.a. lifted its position in shares of Jackson Financial by 41.0% in the fourth quarter. UMB Bank n.a. now owns 392 shares of the company's stock valued at $42,000 after acquiring an additional 114 shares in the last quarter. Fifth Third Wealth Advisors LLC increased its position in shares of Jackson Financial by 5.5% during the first quarter. Fifth Third Wealth Advisors LLC now owns 2,405 shares of the company's stock worth $254,000 after purchasing an additional 126 shares in the last quarter. Finally, Root Financial Partners LLC raised its stake in Jackson Financial by 46.4% in the 1st quarter. Root Financial Partners LLC now owns 401 shares of the company's stock valued at $42,000 after purchasing an additional 127 shares during the last quarter. Hedge funds and other institutional investors own 89.96% of the company's stock.

About Jackson Financial

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source