Jackson Financial (NYSE:JXN) Given New $111.00 Price Target at Barclays

Jackson Financial (NYSE:JXN) had its price target boosted by equities research analysts at Barclays from $109.00 to $111.00 in a research report issued on Tuesday, Benzinga reports. The firm currently has an “overweight” rating on the stock. Barclays‘s target price indicates a potential upside of 13.45% from the stock’s current price.

A number of other equities analysts have also weighed in on JXN. Morgan Stanley boosted their target price on Jackson Financial from $86.00 to $89.00 and gave the stock an “equal weight” rating in a research report on Monday, August 19th. Evercore ISI lowered their price target on Jackson Financial from $75.00 to $73.00 and set an “in-line” rating on the stock in a report on Wednesday, June 26th. Jefferies Financial Group increased their price target on Jackson Financial from $73.00 to $80.00 and gave the company a “hold” rating in a research note on Monday, July 29th. Finally, Keefe, Bruyette & Woods lifted their price target on Jackson Financial from $80.00 to $82.00 and gave the stock a “market perform” rating in a research report on Wednesday, August 14th. Five research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $80.33.

Jackson Financial Stock Performance

NYSE JXN traded up $0.96 during trading hours on Tuesday, reaching $97.84. 278,704 shares of the company were exchanged, compared to its average volume of 740,914. The stock has a market capitalization of $7.46 billion, a P/E ratio of 2.59 and a beta of 1.50. The business’s 50 day simple moving average is $85.83 and its 200-day simple moving average is $77.56. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.42. Jackson Financial has a 1 year low of $36.06 and a 1 year high of $98.36.

Jackson Financial (NYSE:JXN) last released its quarterly earnings results on Wednesday, August 7th. The company reported $5.32 EPS for the quarter, topping analysts’ consensus estimates of $4.32 by $1.00. The company had revenue of $2.01 billion during the quarter, compared to analysts’ expectations of $1.71 billion. Jackson Financial’s quarterly revenue was up 5.0% on a year-over-year basis. During the same period in the prior year, the firm earned $3.34 EPS. On average, equities research analysts expect that Jackson Financial will post 18.49 earnings per share for the current year.

Jackson Financial declared that its board has authorized a share buyback program on Wednesday, August 7th that authorizes the company to repurchase $750.00 million in shares. This repurchase authorization authorizes the company to repurchase up to 10.8% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.

Insider Buying and Selling at Jackson Financial

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

Hedge Funds Weigh In On Jackson Financial

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Hantz Financial Services Inc. acquired a new position in Jackson Financial in the 2nd quarter worth about $25,000. EverSource Wealth Advisors LLC lifted its position in shares of Jackson Financial by 400.0% in the first quarter. EverSource Wealth Advisors LLC now owns 395 shares of the company’s stock worth $27,000 after buying an additional 316 shares during the last quarter. GAMMA Investing LLC boosted its stake in shares of Jackson Financial by 47.0% during the 1st quarter. GAMMA Investing LLC now owns 482 shares of the company’s stock worth $32,000 after acquiring an additional 154 shares in the last quarter. Kapitalo Investimentos Ltda acquired a new position in shares of Jackson Financial during the 4th quarter valued at about $57,000. Finally, Valued Wealth Advisors LLC bought a new position in shares of Jackson Financial in the 1st quarter valued at approximately $66,000. 89.96% of the stock is owned by 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.