Jackson Financial (NYSE:JXN) Share Price Crosses Above Fifty Day Moving Average - Here's Why

Key Points

• Jackson Financial shares crossed above their 50-day moving average, trading as high as $137.36 and last at $135.72, versus a 50-day average of $133.49.
• The company reported quarterly EPS of $7.55, beating the $7.24 consensus estimate; revenue of $2.07 billion was in line with expectations.
• Analysts’ consensus rating is Hold, with an average price target of $134.80. Jackson also announced a $0.90 quarterly dividend, equivalent to a 2.7% yield.

Jackson Financial Inc. (NYSE:JXN - Get Free Report)'s share price passed above its 50-day moving average during trading on Monday. The stock has a 50-day moving average of $133.49 and traded as high as $137.36. Jackson Financial shares last traded at $135.7210, with a volume of 836,412 shares.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on JXN shares. Evercore set a $135.00 target price on shares of Jackson Financial in a research note on Wednesday, August 5th. Keefe, Bruyette & Woods reissued a "market perform" rating and set a $140.00 price target on shares of Jackson Financial in a research report on Friday, September 18th. Weiss Ratings restated a "hold (c)" rating on shares of Jackson Financial in a report on Monday, November 2nd. Barclays upped their price objective on Jackson Financial from $151.00 to $154.00 and gave the company an "overweight" rating in a research report on Wednesday, November 4th. Finally, Wall Street Zen downgraded Jackson Financial from a "buy" rating to a "hold" rating in a research note on Saturday. Two research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $134.80.

Jackson Financial Price Performance

The firm has a fifty day moving average of $133.49 and a 200 day moving average of $118.74. The company has a current ratio of 0.22, a quick ratio of 0.26 and a debt-to-equity ratio of 0.62. The company has a market capitalization of $9.19 billion, a P/E ratio of 11.16 and a beta of 1.34.

Jackson Financial (NYSE:JXN - Get Free Report) last posted its earnings results on Tuesday, November 3rd. The company reported $7.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $7.24 by $0.31. The business had revenue of $2.07 billion for the quarter, compared to analysts' expectations of $2.07 billion. Jackson Financial had a net margin of 13.41% and a return on equity of 20.46%.

Jackson Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 17th. Investors of record on Thursday, December 3rd will be given a dividend of $0.90 per share. The ex-dividend date is Thursday, December 3rd. This represents a $3.60 dividend on an annualized basis and a yield of 2.7%. Jackson Financial's dividend payout ratio is 29.61%.

Insiders Place Their Bets

In related news, CEO Christopher Raub sold 5,000 shares of the firm's stock in a transaction that occurred 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 owned 42,160 shares in the company, valued at approximately $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 can be accessed through the SEC website. 1.40% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Jackson Financial

A number of institutional investors and hedge funds have recently modified their holdings of the company. Dimensional Fund Advisors LP boosted its stake in Jackson Financial by 0.5% during the first quarter. Dimensional Fund Advisors LP now owns 4,060,350 shares of the company's stock valued at $429,240,000 after buying an additional 18,740 shares during the last quarter. Donald Smith & CO. Inc. bought a new stake in Jackson Financial in the 2nd quarter worth approximately $183,186,000. Bank of New York Mellon Corp increased its stake in Jackson Financial by 2.8% in the 1st quarter. Bank of New York Mellon Corp now owns 910,853 shares of the company's stock worth $96,295,000 after acquiring an additional 24,747 shares during the last quarter. Janus Henderson Group PLC raised its holdings in shares of Jackson Financial by 31.6% during the 1st quarter. Janus Henderson Group PLC now owns 484,713 shares of the company's stock worth $51,290,000 after acquiring an additional 116,436 shares in the last quarter. Finally, Bessemer Group Inc. raised its holdings in shares of Jackson Financial by 255.4% during the 3rd quarter. Bessemer Group Inc. now owns 344,747 shares of the company's stock worth $44,581,000 after acquiring an additional 247,737 shares in the last quarter. 89.96% of the stock is currently owned by hedge funds and other institutional investors.

Jackson Financial Company Profile

Jackson Financial Inc is a U.S. financial services company focused on retirement planning. Through its subsidiaries, including Jackson National Life Insurance Company, it offers annuity products designed to help individuals build and manage retirement income. Its offerings include variable, fixed, fixed-indexed and registered index-linked annuities.

The company serves individuals and financial professionals across the United States, distributing its products through a network of independent financial advisers and other financial services firms.

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