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

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

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

Jackson Financial Stock Performance

NYSE JXN traded down $0.91 during midday trading on Thursday, hitting $99.58. The company had a trading volume of 535,601 shares, compared to its average volume of 736,268. The firm has a fifty day simple moving average of $95.43 and a two-hundred day simple moving average of $84.24. Jackson Financial has a fifty-two week low of $44.40 and a fifty-two week high of $115.22. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.42. The stock has a market cap of $7.49 billion, a price-to-earnings ratio of -7.84 and a beta of 1.48.

Jackson Financial (NYSE:JXN) last announced its quarterly earnings data on Wednesday, November 6th. The company reported $4.60 earnings per share for the quarter, missing the consensus estimate of $4.67 by ($0.07). The firm had revenue of $2.12 billion during the quarter, compared to the consensus estimate of $1.73 billion. During the same quarter in the previous year, the firm earned $3.80 earnings per share. Equities analysts forecast that Jackson Financial will post 18.8 earnings per share for the current fiscal year.

Jackson Financial declared that its Board of Directors has authorized a share buyback program on Wednesday, August 7th that permits the company to buyback $750.00 million in outstanding shares. This buyback authorization permits the company to buy up to 10.8% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its shares are undervalued.

Jackson Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Thursday, December 5th will be paid a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 2.81%. The ex-dividend date is Thursday, December 5th. Jackson Financial’s payout ratio is -22.15%.

Insider Buying and Selling

In other Jackson Financial news, EVP Carrie Chelko sold 5,500 shares of the stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $91.31, for a total transaction of $502,205.00. Following the transaction, the executive vice president now owns 61,829 shares in the company, valued at $5,645,605.99. This represents a 8.17 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.30% of the stock is owned by insiders.

Institutional Investors Weigh In On Jackson Financial

Several institutional investors have recently made changes to their positions in the stock. 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. Stifel Financial Corp raised its stake in Jackson Financial by 43.3% in the third quarter. Stifel Financial Corp now owns 47,564 shares of the company’s stock valued at $4,340,000 after purchasing an additional 14,364 shares in the last quarter. Janus Henderson Group PLC lifted its position in Jackson Financial by 29.6% during the third quarter. Janus Henderson Group PLC now owns 64,219 shares of the company’s stock worth $5,856,000 after purchasing an additional 14,675 shares during the period. Harmony Asset Management LLC grew its stake in Jackson Financial by 12.1% during the third quarter. Harmony Asset Management LLC now owns 8,770 shares of the company’s stock worth $800,000 after buying an additional 944 shares in the last quarter. Finally, Benjamin Edwards Inc. bought a new position in Jackson Financial in the 3rd quarter valued at about $813,000. 89.96% of the stock is currently 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.