Jackson Financial (NYSE:JXN) Downgraded to Underperform Rating by Evercore ISI

Evercore ISI lowered shares of Jackson Financial (NYSE:JXN) from an in-line rating to an underperform rating in a research note published on Thursday, MarketBeat.com reports. The firm currently has $95.00 target price on the stock, up from their previous target price of $74.00.

Other equities analysts also recently issued reports about the company. Morgan Stanley boosted their price objective on Jackson Financial from $86.00 to $89.00 and gave the stock an “equal weight” rating in a research report on Monday, August 19th. Jefferies Financial Group raised their price objective on shares of Jackson Financial from $73.00 to $80.00 and gave the company a “hold” rating in a research note on Monday, July 29th. Barclays upped their target price on Jackson Financial from $109.00 to $111.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 8th. Finally, Keefe, Bruyette & Woods raised their target price on Jackson Financial from $80.00 to $82.00 and gave the company a “market perform” rating in a research note on Wednesday, August 14th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $84.00.

Jackson Financial Trading Up 0.1 %

Shares of NYSE JXN opened at $100.63 on Thursday. 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 current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.42. The stock’s 50 day simple moving average is $96.14 and its 200 day simple moving average is $84.68.

Jackson Financial (NYSE:JXN) last posted its earnings results on Wednesday, November 6th. The company reported $4.60 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.67 by ($0.07). The business had revenue of $2.12 billion during the quarter, compared to the consensus estimate of $1.73 billion. During the same quarter last year, the firm earned $3.80 EPS. Equities research analysts expect that Jackson Financial will post 18.8 EPS for the current year.

Jackson Financial announced that its Board of Directors has approved a stock repurchase plan on Wednesday, August 7th that authorizes the company to buyback $750.00 million in shares. This buyback authorization authorizes the company to repurchase up to 10.8% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.

Jackson Financial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Thursday, December 5th will be issued a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.78%. The ex-dividend date is Thursday, December 5th. Jackson Financial’s payout ratio is -22.15%.

Insider Activity at Jackson Financial

In other news, EVP Carrie Chelko sold 5,500 shares of the firm’s stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $91.31, for a total value of $502,205.00. Following the completion of the sale, 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 filing with the SEC, which is available at this link. 1.30% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Hantz Financial Services Inc. purchased a new position in shares of Jackson Financial during the 2nd quarter valued at $25,000. Blue Trust Inc. grew its stake in Jackson Financial by 232.1% in the third quarter. Blue Trust Inc. now owns 372 shares of the company’s stock valued at $34,000 after purchasing an additional 260 shares in the last quarter. EverSource Wealth Advisors LLC increased its position in Jackson Financial by 400.0% in the 1st quarter. EverSource Wealth Advisors LLC now owns 395 shares of the company’s stock worth $27,000 after purchasing an additional 316 shares during the last quarter. GAMMA Investing LLC increased its position in Jackson Financial by 60.8% in the 2nd quarter. GAMMA Investing LLC now owns 775 shares of the company’s stock worth $58,000 after purchasing an additional 293 shares during the last quarter. Finally, CWM LLC raised its stake in shares of Jackson Financial by 80.5% during the 2nd quarter. CWM LLC now owns 1,025 shares of the company’s stock worth $76,000 after purchasing an additional 457 shares in the last quarter. Institutional investors and hedge funds own 89.96% of the company’s stock.

About Jackson Financial

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.