Jackson Financial (NYSE:JXN) Price Target Raised to $35.00 at Morgan Stanley

Jackson Financial (NYSE:JXNGet Rating) had its target price boosted by Morgan Stanley from $31.00 to $35.00 in a research note issued to investors on Wednesday, Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Morgan Stanley’s target price would suggest a potential upside of 3.49% from the company’s previous close.

Other research analysts have also recently issued reports about the company. The Goldman Sachs Group lowered their price objective on Jackson Financial from $40.00 to $36.00 and set a “neutral” rating on the stock in a research report on Monday, June 6th. Evercore ISI lowered their price target on shares of Jackson Financial from $40.00 to $35.00 and set an “in-line” rating on the stock in a report on Wednesday, July 6th. Finally, Jefferies Financial Group reduced their price objective on shares of Jackson Financial from $55.00 to $45.00 in a research note on Monday, May 16th. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, Jackson Financial has a consensus rating of “Hold” and a consensus price target of $36.20.

Jackson Financial Price Performance

Shares of Jackson Financial stock opened at $33.82 on Wednesday. The stock has a market cap of $2.92 billion and a P/E ratio of 0.53. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.37 and a current ratio of 0.37. The stock’s fifty day moving average is $27.92 and its 200 day moving average is $35.96. Jackson Financial has a one year low of $23.56 and a one year high of $47.76.

Insider Activity at Jackson Financial

In other Jackson Financial news, major shareholder Plc Prudential sold 4,200,000 shares of the business’s stock in a transaction on Monday, June 13th. The shares were sold at an average price of $40.79, for a total value of $171,318,000.00. Following the sale, the insider now owns 12,135,443 shares in the company, valued at approximately $495,004,719.97. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Jackson Financial news, Director Gregory T. Durant purchased 3,000 shares of Jackson Financial stock in a transaction that occurred on Wednesday, June 15th. The shares were bought at an average price of $29.10 per share, for a total transaction of $87,300.00. Following the completion of the transaction, the director now owns 17,179 shares of the company’s stock, valued at approximately $499,908.90. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Plc Prudential sold 4,200,000 shares of the stock in a transaction on 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 transaction, the insider now owns 12,135,443 shares of the company’s stock, valued at approximately $495,004,719.97. The disclosure for this sale can be found here. 1.50% of the stock is currently owned by corporate insiders.

Institutional Trading of Jackson Financial

Hedge funds have recently made changes to their positions in the business. Apollo Management Holdings L.P. bought a new stake in Jackson Financial during the fourth quarter worth approximately $439,049,000. EJF Capital LLC increased its position in shares of Jackson Financial by 2,218.3% during the 1st quarter. EJF Capital LLC now owns 1,759,620 shares of the company’s stock valued at $77,828,000 after purchasing an additional 1,683,720 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its position in Jackson Financial by 38.2% in the second quarter. Price T Rowe Associates Inc. MD now owns 3,939,256 shares of the company’s stock worth $105,375,000 after buying an additional 1,088,980 shares during the last quarter. State Street Corp lifted its position in Jackson Financial by 88.6% in the second quarter. State Street Corp now owns 2,238,285 shares of the company’s stock worth $59,874,000 after buying an additional 1,051,563 shares during the last quarter. Finally, Dodge & Cox boosted its stake in Jackson Financial by 26.7% during the second quarter. Dodge & Cox now owns 4,154,006 shares of the company’s stock worth $111,120,000 after buying an additional 876,585 shares during the period. 81.17% of the stock is currently owned by hedge funds and other institutional investors.

About Jackson Financial

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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.

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Analyst Recommendations for Jackson Financial (NYSE:JXN)

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