Jackson Financial (NYSE:JXN) Hits New 12-Month High at $67.08

Jackson Financial Inc. (NYSE:JXN) shares reached a new 52-week high on Thursday . The stock traded as high as $67.08 and last traded at $67.07, with a volume of 83292 shares traded. The stock had previously closed at $66.14.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Morgan Stanley boosted their price objective on shares of Jackson Financial from $49.00 to $52.00 and gave the stock an “equal weight” rating in a research note on Friday, March 1st. The Goldman Sachs Group upped their price objective on shares of Jackson Financial from $39.00 to $47.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 9th. Keefe, Bruyette & Woods raised Jackson Financial from a “market perform” rating to an “outperform” rating and boosted their price objective for the stock from $49.00 to $68.00 in a research note on Wednesday, February 28th. Finally, Jefferies Financial Group reaffirmed a “hold” rating and issued a $55.00 price target on shares of Jackson Financial in a report on Tuesday, January 2nd. Three equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $55.50.

Jackson Financial Stock Performance

The company has a current ratio of 0.33, a quick ratio of 0.33 and a debt-to-equity ratio of 0.41. The stock’s 50 day moving average price is $55.05 and its 200 day moving average price is $47.90. The company has a market capitalization of $5.12 billion, a price-to-earnings ratio of 6.80 and a beta of 1.54.

Jackson Financial (NYSE:JXN) last issued its earnings results on Wednesday, February 21st. The company reported $2.53 EPS for the quarter, missing the consensus estimate of $3.53 by ($1.00). The firm had revenue of $1.93 billion for the quarter, compared to the consensus estimate of $1.40 billion. The company’s quarterly revenue was up 3.3% on a year-over-year basis. During the same period in the previous year, the firm earned $5.66 EPS. Analysts expect that Jackson Financial Inc. will post 15.59 earnings per share for the current year.

Jackson Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 21st. Investors of record on Tuesday, March 12th were paid a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 4.23%. This is a positive change from Jackson Financial’s previous quarterly dividend of $0.62. The ex-dividend date was Monday, March 11th. Jackson Financial’s payout ratio is currently 28.54%.

Insider Activity

In other news, Director Derek G. Kirkland bought 3,500 shares of the firm’s stock in a transaction that occurred on Monday, March 4th. The shares were bought at an average cost of $55.67 per share, with a total value of $194,845.00. Following the completion of the purchase, the director now directly owns 37,726 shares in the company, valued at $2,100,206.42. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.70% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in JXN. Quadrature Capital Ltd bought a new position in Jackson Financial in the 4th quarter worth about $209,000. PNC Financial Services Group Inc. raised its stake in Jackson Financial by 110.3% during the 4th quarter. PNC Financial Services Group Inc. now owns 2,156 shares of the company’s stock valued at $110,000 after buying an additional 1,131 shares during the last quarter. Goldman Sachs Group Inc. lifted its holdings in shares of Jackson Financial by 6.9% during the 4th quarter. Goldman Sachs Group Inc. now owns 1,738,688 shares of the company’s stock valued at $89,021,000 after buying an additional 111,875 shares during the period. Centaurus Financial Inc. bought a new stake in shares of Jackson Financial in the fourth quarter worth $118,000. Finally, Virtu Financial LLC purchased a new stake in Jackson Financial during the fourth quarter valued at $621,000. Institutional investors own 89.96% of the company’s stock.

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.