Jackson Financial (NYSE:JXN) Sets New 52-Week High - Still a Buy?

Key Points

• Jackson Financial shares hit a new 52-week high of $142.56 and were recently trading around $142.84, up 2.8%, with the stock’s 50-day and 200-day moving averages at $133.22 and $118.18, respectively.
• Analyst sentiment remains cautious: two analysts rate the stock a Buy and four rate it a Hold, producing an average rating of Hold and an average price target of $134.20—below its current price. Price targets range from $135 to $151.
• Jackson Financial beat quarterly expectations, reporting EPS of $7.30 versus the $5.72 consensus and revenue of $2 billion versus $1.91 billion expected. However, executives recently sold shares, while institutional investors own nearly 90% of the company.

Shares of Jackson Financial Inc. (NYSE:JXN - Get Free Report) reached a new 52-week high during trading on Tuesday. The company traded as high as $142.56 and last traded at $142.8360, with a volume of 246,931 shares. The stock had previously closed at $137.64.

Analyst Ratings Changes

Several research analysts have weighed in on JXN shares. Keefe, Bruyette & Woods restated a "market perform" rating and set a $140.00 target price on shares of Jackson Financial in a research report on Friday, September 18th. Wall Street Zen upgraded shares of Jackson Financial from a "hold" rating to a "buy" rating in a research report on Saturday, August 8th. Barclays set a $151.00 price target on Jackson Financial in a research note on Thursday, October 8th. Jefferies Financial Group upgraded Jackson Financial from a "hold" rating to a "buy" rating and upped their price target for the stock from $120.00 to $140.00 in a report on Friday, July 10th. Finally, Evercore set a $135.00 price objective on Jackson Financial in a research note on Wednesday, August 5th. Two analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $134.20.

Jackson Financial Trading Up 2.8%

The company has a market cap of $9.58 billion, a price-to-earnings ratio of 199.07 and a beta of 1.31. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.26 and a quick ratio of 0.26. The business's 50-day simple moving average is $133.22 and its 200-day simple moving average is $118.18.

Jackson Financial (NYSE:JXN - Get Free Report) last issued its quarterly earnings data on Monday, August 3rd. The company reported $7.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.72 by $1.58. The firm had revenue of $2 billion during 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%.

Insider Buying and Selling at Jackson Financial

In other news, EVP Carrie Chelko sold 7,500 shares of the company's stock in a transaction 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 sale, the executive vice president directly owned 80,914 shares in the company, valued at $10,861,895.36. This represents a 8.48% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Christopher Raub sold 5,000 shares of the 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 in the company, valued at approximately $5,509,890.40. The trade was a 10.60% decrease in their position. The disclosure for this sale is available in the SEC filing. 1.40% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Jackson Financial

A number of institutional investors have recently modified their holdings of JXN. Triumph Capital Management boosted its position in shares of Jackson Financial by 3.6% in the third quarter. Triumph Capital Management now owns 2,846 shares of the company's stock worth $368,000 after buying an additional 100 shares during the period. Allworth Financial LP raised its holdings in shares of Jackson Financial by 22.7% during the 2nd quarter. Allworth Financial LP now owns 573 shares of the company's stock valued at $59,000 after buying an additional 106 shares during the period. Root Financial Partners LLC lifted its position in Jackson Financial by 46.4% during the 1st quarter. Root Financial Partners LLC now owns 401 shares of the company's stock worth $42,000 after acquiring an additional 127 shares in the last quarter. Geneos Wealth Management Inc. lifted its position in Jackson Financial by 7.4% during the 1st quarter. Geneos Wealth Management Inc. now owns 1,906 shares of the company's stock worth $201,000 after acquiring an additional 132 shares in the last quarter. Finally, Inspire Investing LLC boosted its holdings in Jackson Financial by 3.4% in the 3rd quarter. Inspire Investing LLC now owns 4,116 shares of the company's stock worth $532,000 after acquiring an additional 135 shares during the period. Institutional investors and hedge funds own 89.96% of the company's stock.

About Jackson Financial

Jackson Financial Inc is a U.S.-based financial services company focused on helping individuals and institutions pursue retirement security. Through its operating subsidiaries, the company develops and distributes annuity products designed to provide income, investment growth opportunities and protection against certain retirement-related risks.

Jackson's offerings include variable annuities, fixed annuities and fixed-indexed annuities, along with related retirement planning solutions.

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