Jackson Financial (NYSE:JXN) Sets New 1-Year High - What's Next?

Key Points

• Jackson Financial shares reached a new 52-week high of $140.88 before easing to about $138, valuing the company at approximately $9.44 billion.
• The insurer reported strong quarterly results, with EPS of $7.30 versus $5.72 expected and revenue of $2 billion compared with the $1.91 billion consensus estimate.
• Analyst sentiment is generally positive, with a consensus “Moderate Buy” rating and a $133.80 price target, while the company declared a quarterly dividend of $0.90 per share yielding about 2.6%.

Jackson Financial Inc. (NYSE:JXN - Get Free Report)'s share price hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $140.88 and last traded at $138.0420, with a volume of 748381 shares traded. The stock had previously closed at $140.63.

Wall Street Analyst Weigh In

A number of brokerages recently commented on JXN. 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. Keefe, Bruyette & Woods increased their target price on Jackson Financial from $130.00 to $140.00 and gave the company a "market perform" rating in a report on Wednesday, August 5th. Evercore set a $135.00 price objective on shares of Jackson Financial in a research report on Wednesday, August 5th. Wall Street Zen raised shares of Jackson Financial from a "hold" rating to a "buy" rating in a research note on Saturday, August 8th. Finally, Barclays upped their price target on Jackson Financial from $139.00 to $149.00 and gave the stock an "overweight" rating in a research note on Tuesday, August 4th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and four have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $133.80.

Jackson Financial Stock Down 0.9%

The company has a market cap of $9.44 billion, a price-to-earnings ratio of 194.40 and a beta of 1.30. The company has a quick ratio of 0.26, a current ratio of 0.26 and a debt-to-equity ratio of 0.53. The firm's 50 day simple moving average is $125.40 and its 200 day simple moving average is $114.25.

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

Jackson Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 24th. Investors of record on Tuesday, September 15th will be paid a $0.90 dividend. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $3.60 annualized dividend and a dividend yield of 2.6%. Jackson Financial's payout ratio is presently 507.04%.

Insider Buying and Selling

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

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the company. Allworth Financial LP lifted its stake in Jackson Financial by 404.0% in the third quarter. Allworth Financial LP now owns 252 shares of the company's stock valued at $26,000 after buying an additional 202 shares during the period. Rothschild Investment LLC grew its holdings in shares of Jackson Financial by 79.9% during the fourth quarter. Rothschild Investment LLC now owns 322 shares of the company's stock worth $34,000 after buying an additional 143 shares in the last quarter. Plato Investment Management Ltd bought a new position in shares of Jackson Financial during the 4th quarter worth approximately $35,000. Advisory Services Network LLC acquired a new stake in Jackson Financial in the 3rd quarter valued at $37,000. Finally, Signature Equity Partners LLC bought a new position in Jackson Financial in the first quarter valued at approximately $38,000. Institutional investors own 89.96% of the company's stock.

Jackson Financial Company Profile

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.

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