Barclays Cuts Jackson Financial (NYSE:JXN) Price Target to $106.00

Jackson Financial (NYSE:JXN) had its target price cut by Barclays from $118.00 to $106.00 in a research report sent to investors on Friday morning,Benzinga reports. They currently have an overweight rating on the stock.

JXN has been the topic of several other reports. Morgan Stanley decreased their price objective on Jackson Financial from $92.00 to $86.00 and set an “equal weight” rating on the stock in a report on Thursday. Keefe, Bruyette & Woods decreased their price target on shares of Jackson Financial from $105.00 to $90.00 and set a “market perform” rating on the stock in a research note on Wednesday. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, Jackson Financial currently has an average rating of “Hold” and an average target price of $91.40.

Jackson Financial Stock Performance

Shares of NYSE JXN opened at $71.88 on Friday. The company has a market cap of $5.22 billion, a P/E ratio of 6.28 and a beta of 1.49. Jackson Financial has a 52-week low of $62.81 and a 52-week high of $115.22. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.30 and a current ratio of 0.30. The firm’s fifty day moving average is $84.68 and its two-hundred day moving average is $91.89.

Jackson Financial (NYSE:JXN) last issued its earnings results on Wednesday, February 19th. The company reported $4.65 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.72 by ($0.07). The firm had revenue of $1.81 billion during the quarter, compared to analysts’ expectations of $1.81 billion. As a group, analysts anticipate that Jackson Financial will post 20.55 EPS for the current fiscal year.

Jackson Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Tuesday, March 11th were paid a $0.80 dividend. This represents a $3.20 annualized dividend and a dividend yield of 4.45%. This is a positive change from Jackson Financial’s previous quarterly dividend of $0.70. The ex-dividend date of this dividend was Tuesday, March 11th. Jackson Financial’s dividend payout ratio (DPR) is presently 27.95%.

Insider Activity

In other news, CEO Scott Romine sold 7,000 shares of the firm’s stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $84.43, for a total value of $591,010.00. Following the completion of the sale, the chief executive officer now owns 85,276 shares in the company, valued at approximately $7,199,852.68. This trade represents a 7.59 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Craig Donald Smith sold 20,607 shares of the company’s stock in a transaction dated Monday, April 7th. The shares were sold at an average price of $69.52, for a total transaction of $1,432,598.64. Following the transaction, the chief executive officer now owns 116,423 shares in the company, valued at $8,093,726.96. The trade was a 15.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.30% of the company’s stock.

Institutional Investors Weigh In On Jackson Financial

A number of institutional investors and hedge funds have recently modified their holdings of the business. Norges Bank bought a new position in Jackson Financial in the 4th quarter valued at $98,767,000. First Trust Advisors LP lifted its position in shares of Jackson Financial by 13.4% during the fourth quarter. First Trust Advisors LP now owns 4,134,545 shares of the company’s stock worth $360,036,000 after purchasing an additional 487,803 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec boosted its stake in shares of Jackson Financial by 286.5% during the fourth quarter. Caisse DE Depot ET Placement DU Quebec now owns 566,916 shares of the company’s stock valued at $49,367,000 after purchasing an additional 420,245 shares during the period. Raymond James Financial Inc. bought a new position in Jackson Financial in the 4th quarter worth about $27,193,000. Finally, Victory Capital Management Inc. grew its stake in Jackson Financial by 196.4% in the fourth quarter. Victory Capital Management Inc. now owns 447,245 shares of the company’s stock worth $38,946,000 after purchasing an additional 296,367 shares in the last quarter. 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.