Jackson Financial Inc. (NYSE:JXN – Get Rating) gapped down before the market opened on Wednesday after Evercore ISI lowered their price target on the stock from $40.00 to $35.00. The stock had previously closed at $27.37, but opened at $26.57. Evercore ISI currently has an in-line rating on the stock. Jackson Financial shares last traded at $26.43, with a volume of 5,066 shares traded.
Several other research firms have also recently issued reports on JXN. The Goldman Sachs Group cut their price target on shares of Jackson Financial from $40.00 to $36.00 and set a “neutral” rating on the stock in a report on Monday, June 6th. Jefferies Financial Group lowered their target price on shares of Jackson Financial from $55.00 to $45.00 in a research note on Monday, May 16th. Finally, Morgan Stanley lowered their target price on shares of Jackson Financial from $40.00 to $33.00 and set an “equal weight” rating for the company in a research note on Wednesday. Four 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 a consensus rating of “Hold” and a consensus target price of $35.80.
In related news, Director Gregory T. Durant bought 3,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 15th. The stock was purchased at an average price of $29.10 per share, for a total transaction of $87,300.00. Following the transaction, the director now directly owns 17,179 shares of the company’s stock, valued at approximately $499,908.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Plc Prudential sold 4,200,000 shares of the company’s stock in a transaction dated Monday, June 13th. The shares were sold at an average price of $40.79, for a total transaction of $171,318,000.00. Following the completion of the sale, the insider now directly owns 12,135,443 shares of the company’s stock, valued at $495,004,719.97. The disclosure for this sale can be found here. In the last quarter, insiders purchased 34,244 shares of company stock valued at $1,065,798 and sold 4,472,976 shares valued at $182,439,755.
Hedge funds have recently bought and sold shares of the business. Apollo Management Holdings L.P. purchased a new stake in shares of Jackson Financial in the fourth quarter worth approximately $439,049,000. Sessa Capital IM L.P. lifted its position in shares of Jackson Financial by 5.8% in the fourth quarter. Sessa Capital IM L.P. now owns 4,759,038 shares of the company’s stock worth $199,071,000 after purchasing an additional 260,301 shares in the last quarter. Dodge & Cox lifted its position in shares of Jackson Financial by 1.1% in the fourth quarter. Dodge & Cox now owns 3,819,494 shares of the company’s stock worth $159,769,000 after purchasing an additional 40,700 shares in the last quarter. EJF Capital LLC lifted its position in shares of Jackson Financial by 2,218.3% in the first quarter. EJF Capital LLC now owns 1,759,620 shares of the company’s stock worth $77,828,000 after purchasing an additional 1,683,720 shares in the last quarter. Finally, State Street Corp lifted its position in shares of Jackson Financial by 275.0% in the first quarter. State Street Corp now owns 1,186,722 shares of the company’s stock worth $52,489,000 after purchasing an additional 870,296 shares in the last quarter. 81.17% of the stock is owned by institutional investors.
The business’s 50-day moving average price is $33.42 and its 200-day moving average price is $38.94. The company has a quick ratio of 0.34, a current ratio of 0.34 and a debt-to-equity ratio of 0.26. The firm has a market capitalization of $2.28 billion and a PE ratio of 1.09.
Jackson Financial (NYSE:JXN – Get Rating) last released its quarterly earnings data on Tuesday, May 10th. The company reported $3.94 EPS for the quarter, missing analysts’ consensus estimates of $4.53 by ($0.59). Jackson Financial had a return on equity of 20.22% and a net margin of 29.79%. The firm had revenue of $4.30 billion during the quarter, compared to analyst estimates of $1.80 billion. On average, analysts anticipate that Jackson Financial Inc. will post 19.27 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 16th. Stockholders of record on Thursday, June 2nd were given a $0.55 dividend. The ex-dividend date of this dividend was Wednesday, June 1st. This represents a $2.20 annualized dividend and a dividend yield of 8.34%. Jackson Financial’s dividend payout ratio is 8.74%.
Jackson Financial Company Profile (NYSE:JXN)
Jackson Financial Inc, through its subsidiaries, primarily provides a 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 immediate payout annuities, as well as registered index-linked annuities and lifetime income solutions.