Jackson Financial (NYSE:JXN) Cut to “Underperform” at Evercore ISI

Evercore ISI cut shares of Jackson Financial (NYSE:JXN) from an in-line rating to an underperform rating in a report released on Thursday morning, MarketBeat reports. The firm currently has $95.00 price target on the stock, up from their prior price target of $74.00.

JXN has been the topic of several other research reports. Barclays upped 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. Morgan Stanley raised their price target on Jackson Financial from $86.00 to $89.00 and gave the company an “equal weight” rating in a report on Monday, August 19th. Jefferies Financial Group raised their target price on shares of Jackson Financial from $73.00 to $80.00 and gave the stock a “hold” rating in a research note on Monday, July 29th. Finally, Keefe, Bruyette & Woods lifted their target price on shares of Jackson Financial from $80.00 to $82.00 and gave the stock a “market perform” rating in a report on Wednesday, August 14th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, Jackson Financial presently has a consensus rating of “Hold” and an average price target of $84.00.

Jackson Financial Trading Up 0.1 %

JXN opened at $100.63 on Thursday. Jackson Financial has a 52-week low of $44.40 and a 52-week high of $115.22. The business’s 50-day simple moving average is $96.14 and its 200 day simple moving average is $84.56. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.42.

Jackson Financial (NYSE:JXN) last released its quarterly earnings data on Wednesday, November 6th. The company reported $4.60 EPS for the quarter, missing the consensus estimate of $4.67 by ($0.07). The firm had revenue of $2.12 billion during the quarter, compared to the consensus estimate of $1.73 billion. During the same period in the previous year, the firm posted $3.80 earnings per share. As a group, equities research analysts forecast that Jackson Financial will post 18.8 earnings per share for the current fiscal year.

Jackson Financial declared that its Board of Directors has initiated a share buyback program on Wednesday, August 7th that allows the company to buyback $750.00 million in outstanding shares. This buyback authorization allows the company to buy up to 10.8% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its stock is undervalued.

Jackson Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Thursday, December 5th will be paid a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 2.78%. The ex-dividend date of this dividend is Thursday, December 5th. Jackson Financial’s dividend payout ratio (DPR) is -22.15%.

Insider Transactions at Jackson Financial

In related news, EVP Carrie Chelko sold 5,500 shares of the business’s stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $91.31, for a total value of $502,205.00. Following the completion of the sale, the executive vice president now directly owns 61,829 shares in the company, valued at approximately $5,645,605.99. The trade was a 8.17 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 1.30% of the company’s stock.

Institutional Trading of Jackson Financial

A number of institutional investors have recently modified their holdings of the stock. Cetera Investment Advisers acquired a new position in Jackson Financial in the first quarter valued at about $3,812,000. O Shaughnessy Asset Management LLC lifted its holdings in shares of Jackson Financial by 32.1% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 61,139 shares of the company’s stock worth $4,044,000 after acquiring an additional 14,848 shares during the period. B. Riley Wealth Advisors Inc. boosted its position in shares of Jackson Financial by 16.5% during the 1st quarter. B. Riley Wealth Advisors Inc. now owns 41,031 shares of the company’s stock worth $2,714,000 after acquiring an additional 5,819 shares in the last quarter. UniSuper Management Pty Ltd bought a new position in Jackson Financial in the first quarter valued at approximately $866,000. Finally, DekaBank Deutsche Girozentrale lifted its stake in Jackson Financial by 11.6% during the first quarter. DekaBank Deutsche Girozentrale now owns 108,944 shares of the company’s stock worth $7,073,000 after purchasing an additional 11,328 shares during the last quarter. 89.96% of the stock is currently owned by institutional investors.

About Jackson Financial

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.