Evercore ISI Downgrades Jackson Financial (NYSE:JXN) to Underperform

Jackson Financial (NYSE:JXN) was downgraded by equities research analysts at Evercore ISI from an “in-line” rating to an “underperform” rating in a report issued on Thursday, MarketBeat Ratings reports. They presently have a $95.00 price objective on the stock, up from their prior price objective of $74.00. Evercore ISI’s target price would suggest a potential downside of 5.59% from the company’s current price.

A number of other analysts have also weighed in on JXN. Morgan Stanley increased their price objective on shares of Jackson Financial from $86.00 to $89.00 and gave the stock an “equal weight” rating in a research report on Monday, August 19th. Barclays raised their target price on shares of Jackson Financial from $109.00 to $111.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 8th. 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 report on Monday, July 29th. Finally, Keefe, Bruyette & Woods raised their target price on shares of Jackson Financial from $80.00 to $82.00 and gave the stock a “market perform” rating in a research report on Wednesday, August 14th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $84.00.

Jackson Financial Stock Up 0.1 %

Shares of NYSE:JXN opened at $100.63 on Thursday. 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 has a 12 month low of $44.40 and a 12 month high of $115.22. The company has a market cap of $7.57 billion, a price-to-earnings ratio of -7.96 and a beta of 1.48. The company has a 50-day moving average price of $95.75 and a 200 day moving average price of $84.35.

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

Jackson Financial announced that its board has approved a stock buyback program on Wednesday, August 7th that authorizes the company to buyback $750.00 million in shares. This buyback authorization authorizes the company to purchase up to 10.8% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s management believes its stock is undervalued.

Insider Transactions 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 transaction, the executive vice president now owns 61,829 shares of the company’s stock, valued at $5,645,605.99. This trade represents a 8.17 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 1.30% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Dimensional Fund Advisors LP increased its holdings in Jackson Financial by 3.8% in the second quarter. Dimensional Fund Advisors LP now owns 4,471,335 shares of the company’s stock valued at $332,035,000 after buying an additional 163,598 shares in the last quarter. State Street Corp increased its holdings in Jackson Financial by 4.9% in the third quarter. State Street Corp now owns 3,266,981 shares of the company’s stock valued at $298,047,000 after buying an additional 153,326 shares in the last quarter. Donald Smith & CO. Inc. increased its holdings in Jackson Financial by 20.1% in the first quarter. Donald Smith & CO. Inc. now owns 2,376,476 shares of the company’s stock valued at $157,180,000 after buying an additional 397,287 shares in the last quarter. American Century Companies Inc. increased its holdings in Jackson Financial by 6.5% in the second quarter. American Century Companies Inc. now owns 1,623,071 shares of the company’s stock valued at $120,529,000 after buying an additional 98,792 shares in the last quarter. Finally, Acadian Asset Management LLC increased its holdings in Jackson Financial by 146.3% in the second quarter. Acadian Asset Management LLC now owns 1,219,218 shares of the company’s stock valued at $90,525,000 after buying an additional 724,148 shares in the last quarter. Hedge funds and other institutional investors own 89.96% of the company’s stock.

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.