Jackson Financial (NYSE:JXN) Price Target Cut to $90.00 by Analysts at Keefe, Bruyette & Woods

Jackson Financial (NYSE:JXN - Free Report) had its price target trimmed by Keefe, Bruyette & Woods from $105.00 to $90.00 in a report published on Wednesday morning,Benzinga reports. The firm currently has a market perform rating on the stock.

Separately, Barclays raised their target price on shares of Jackson Financial from $116.00 to $118.00 and gave the company an "overweight" rating in a research note on Thursday, February 20th. One research analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $91.40.

Jackson Financial Stock Up 0.6 %

Shares of NYSE:JXN traded up $0.43 during midday trading on Wednesday, reaching $72.47. 325,875 shares of the company were exchanged, compared to its average volume of 751,706. The firm has a market cap of $5.26 billion, a PE ratio of 6.33 and a beta of 1.49. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.46. Jackson Financial has a fifty-two week low of $63.16 and a fifty-two week high of $115.22. The stock has a fifty day simple moving average of $84.68 and a two-hundred day simple moving average of $91.90.

Jackson Financial (NYSE:JXN - Get Free Report) last released its earnings results on Wednesday, February 19th. The company reported $4.65 earnings per share for the quarter, missing analysts' consensus estimates of $4.72 by ($0.07). The company had revenue of $1.81 billion for the quarter, compared to analyst estimates of $1.81 billion. As a group, sell-side analysts forecast that Jackson Financial will post 20.55 earnings per share for the current year.

Jackson Financial Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Tuesday, March 11th were issued a dividend of $0.80 per share. The ex-dividend date of this dividend was Tuesday, March 11th. This is a positive change from Jackson Financial's previous quarterly dividend of $0.70. This represents a $3.20 dividend on an annualized basis and a dividend yield of 4.42%. Jackson Financial's payout ratio is presently 27.95%.

Insider Buying and Selling at Jackson Financial

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

Institutional Trading of Jackson Financial

Several hedge funds and other institutional investors have recently bought and sold shares of JXN. First Trust Advisors LP increased its holdings 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 period. State Street Corp raised its holdings in Jackson Financial by 4.9% in the 3rd quarter. State Street Corp now owns 3,266,981 shares of the company's stock valued at $298,047,000 after acquiring an additional 153,326 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Jackson Financial by 0.6% during the 4th quarter. Geode Capital Management LLC now owns 2,099,517 shares of the company's stock valued at $188,522,000 after acquiring an additional 13,362 shares during the period. Norges Bank acquired a new stake in shares of Jackson Financial during the 4th quarter worth $98,767,000. Finally, Jacobs Levy Equity Management Inc. increased its position in shares of Jackson Financial by 0.5% in the fourth quarter. Jacobs Levy Equity Management Inc. now owns 1,082,974 shares of the company's stock worth $94,305,000 after purchasing an additional 4,987 shares during the period. 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.