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

Jackson Financial Inc. (NYSE:JXN) hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $97.77 and last traded at $97.65, with a volume of 36926 shares changing hands. The stock had previously closed at $96.88.

Wall Street Analyst Weigh In

JXN has been the topic of several recent research reports. Jefferies Financial Group upped their price target on shares of Jackson Financial from $73.00 to $80.00 and gave the company a “hold” rating in a report on Monday, July 29th. Evercore ISI reduced their price objective on shares of Jackson Financial from $75.00 to $73.00 and set an “in-line” rating on the stock in a research note on Wednesday, June 26th. Morgan Stanley upped their price objective 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 upped their price objective on shares of Jackson Financial from $80.00 to $82.00 and gave the company a “market perform” rating in a research note on Wednesday, August 14th. Finally, Barclays started coverage on shares of Jackson Financial in a research note on Wednesday, September 4th. They set an “overweight” rating and a $109.00 price objective on the stock. Five investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $80.00.

Jackson Financial Stock 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 market cap of $7.47 billion, a PE ratio of 2.59 and a beta of 1.50. The stock’s 50 day simple moving average is $85.83 and its two-hundred day simple moving average is $77.56.

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

Jackson Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 19th. Stockholders of record on Thursday, September 5th were given a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 2.86%. The ex-dividend date was Thursday, September 5th. Jackson Financial’s payout ratio is currently 7.40%.

Jackson Financial announced that its board has initiated a stock repurchase program on Wednesday, August 7th that allows the company to repurchase $750.00 million in shares. This repurchase authorization allows the company to reacquire up to 10.8% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s leadership believes its shares are undervalued.

Insider Activity at Jackson Financial

In related news, EVP Carrie Chelko sold 5,500 shares of the firm’s 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 completion of the sale, the executive vice president now directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.30% of the company’s stock.

Institutional Investors Weigh In On Jackson Financial

Large investors have recently added to or reduced their stakes in the company. Cetera Investment Advisers bought a new position in Jackson Financial during the 1st quarter valued at $3,812,000. FORA Capital LLC boosted its stake in Jackson Financial by 399.7% during the 1st quarter. FORA Capital LLC now owns 27,894 shares of the company’s stock valued at $1,845,000 after acquiring an additional 22,312 shares during the last quarter. O Shaughnessy Asset Management LLC boosted its stake in Jackson Financial by 32.1% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 61,139 shares of the company’s stock valued at $4,044,000 after acquiring an additional 14,848 shares during the last quarter. B. Riley Wealth Advisors Inc. boosted its stake in Jackson Financial by 16.5% during the 1st quarter. B. Riley Wealth Advisors Inc. now owns 41,031 shares of the company’s stock valued at $2,714,000 after acquiring an additional 5,819 shares during the last quarter. Finally, UniSuper Management Pty Ltd bought a new position in Jackson Financial during the 1st quarter valued at $866,000. 89.96% of the stock is owned by institutional investors and hedge funds.

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.