Shares of Jackson Financial Inc. (NYSE:JXN) have received a consensus rating of “Hold” from seven research firms monitoring the company, according to a report from MarketBeat.com. Among these analysts, one has issued a sell recommendation, while four recommend holding, one suggests a buy, and one has assigned a strong buy rating. The average twelve-month price target currently stands at $108.80.
Analysts Adjust Price Targets
Recent evaluations from various research analysts highlight differing perspectives on Jackson Financial’s stock. On October 9, 2023, Keefe, Bruyette & Woods raised their price target from $105.00 to $110.00, maintaining a “market perform” rating. Jefferies Financial Group also increased their target, moving it from $88.00 to $95.00 with a hold rating in a report on August 11, 2023.
Additionally, Barclays set a new price target of $128.00, up from $125.00, while granting an “overweight” rating on November 5, 2023. In contrast, Morgan Stanley reduced their price objective from $106.00 to $101.00, assigning an “equal weight” rating on November 17, 2023. Lastly, Evercore ISI raised their target from $100.00 to $110.00, but issued an “underperform” rating on the same date as Keefe.
Current Stock Performance and Financial Overview
As of Friday, shares of Jackson Financial opened at $98.39. The company has a 50-day moving average price of $97.24 and a 200-day moving average price of $92.73. Financial metrics reveal a debt-to-equity ratio of 0.47, with both quick and current ratios at 0.27. Over the past year, Jackson Financial has experienced a low of $64.70 and a high of $104.61. The company’s market capitalization is approximately $6.69 billion, with a price-to-earnings ratio of 13.61 and a beta of 1.45.
Jackson Financial announced its earnings results on March 22, 2023, reporting earnings per share of $6.26 for the quarter, alongside revenue of $1,162 million. The firm recorded a net margin of 1.73% and a return on equity of 15.73%. Analysts predict Jackson Financial will report $20.55 earnings per share for the current fiscal year.
Additionally, the company recently declared a quarterly dividend of $0.80 per share, set for distribution on December 18, 2023. Stockholders on record as of December 4, 2023 will receive this payment, representing an annualized dividend of $3.20 and a dividend yield of 3.3%. Jackson Financial’s dividend payout ratio currently stands at 44.26%.
In a notable move, the Board of Directors authorized a stock repurchase plan on September 18, 2023, allowing the company to buy back up to $1 billion of its outstanding shares, which constitutes approximately 14.4% of its stock. Such buyback initiatives often indicate management’s confidence in the company’s valuation.
About Jackson Financial
Jackson Financial Inc., through its subsidiaries, specializes in offering a range of annuities to retail investors across the United States. The company operates in three main segments: Retail Annuities, Institutional Products, and Closed Life and Annuity Blocks. The Retail Annuities segment provides various retirement income and savings solutions, including variable, fixed index, fixed, and payout annuities, in addition to registered index-linked annuities and lifetime income products.
The latest updates and insights on Jackson Financial can be received through daily summaries provided by MarketBeat.com.
