Jackson Financial (NYSE:JXN) Sets New 1-Year High – Time to Buy?

Shares of Jackson Financial Inc. (NYSE:JXN) hit a new 52-week high during trading on Tuesday . The company traded as high as $100.60 and last traded at $99.65, with a volume of 79602 shares. The stock had previously closed at $99.52.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Barclays raised their price objective on Jackson Financial from $109.00 to $111.00 and gave the company an “overweight” rating in a research note on Tuesday, October 8th. Evercore ISI reduced their price target on shares of Jackson Financial from $75.00 to $73.00 and set an “in-line” rating on the stock in a research report on Wednesday, June 26th. Morgan Stanley boosted their target price on shares of Jackson Financial from $86.00 to $89.00 and gave the company an “equal weight” rating in a research note on Monday, August 19th. Keefe, Bruyette & Woods raised their price target on Jackson Financial from $80.00 to $82.00 and gave the stock a “market perform” rating in a report on Wednesday, August 14th. Finally, Jefferies Financial Group raised their price target on shares of Jackson Financial from $73.00 to $80.00 and gave the company a “hold” rating in a research note on Monday, July 29th. Five analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, Jackson Financial currently has a consensus rating of “Hold” and a consensus price target of $80.33.

Jackson Financial Price Performance

The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.42. The company has a 50 day moving average of $87.57 and a two-hundred day moving average of $78.73. The firm has a market cap of $7.56 billion, a P/E ratio of 2.65 and a beta of 1.50.

Jackson Financial (NYSE:JXN) last released its earnings results on Wednesday, August 7th. The company reported $5.32 EPS for the quarter, beating the consensus estimate of $4.32 by $1.00. The business had revenue of $2.01 billion for the quarter, compared to analyst estimates of $1.71 billion. The firm’s revenue for the quarter was up 5.0% on a year-over-year basis. During the same period in the prior year, the company earned $3.34 earnings per share. Sell-side analysts expect that Jackson Financial Inc. will post 18.59 EPS for the current year.

Jackson Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 19th. Investors of record on Thursday, September 5th were issued a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.83%. The ex-dividend date was Thursday, September 5th. Jackson Financial’s payout ratio is 7.40%.

Jackson Financial announced that its Board of Directors has initiated a share repurchase program on Wednesday, August 7th that authorizes the company to buyback $750.00 million in outstanding shares. This buyback authorization authorizes the company to repurchase up to 10.8% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.

Insider Activity

In related news, EVP Carrie Chelko sold 5,500 shares of Jackson Financial stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $91.31, for a total value of $502,205.00. Following the transaction, the executive vice president now owns 61,829 shares of the company’s stock, valued at approximately $5,645,605.99. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.30% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Jackson Financial

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Creative Planning lifted its holdings in shares of Jackson Financial by 10.2% in the third quarter. Creative Planning now owns 4,041 shares of the company’s stock valued at $369,000 after purchasing an additional 373 shares in the last quarter. Wedge Capital Management L L P NC purchased a new stake in Jackson Financial in the 3rd quarter worth about $40,795,000. MorganRosel Wealth Management LLC purchased a new stake in Jackson Financial in the 3rd quarter worth about $1,531,000. Exchange Traded Concepts LLC boosted its position in Jackson Financial by 3.5% during the 3rd quarter. Exchange Traded Concepts LLC now owns 27,938 shares of the company’s stock worth $2,549,000 after acquiring an additional 948 shares during the period. Finally, Burns Matteson Capital Management LLC purchased a new position in Jackson Financial during the third quarter valued at approximately $394,000. 89.96% of the stock is currently owned by hedge funds and other institutional investors.

Jackson Financial Company Profile

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.