Jackson Financial (NYSE:JXN) Issues Earnings Results

Jackson Financial (NYSE:JXN) released its quarterly earnings results on Wednesday. The company reported $6.61 earnings per share for the quarter, topping the consensus estimate of $5.90 by $0.71, FiscalAI reports.

Jackson Financial Price Performance

JXN traded up $0.98 on Wednesday, hitting $116.76. 953,066 shares of the company’s stock traded hands, compared to its average volume of 547,518. The company’s 50 day simple moving average is $112.37 and its 200-day simple moving average is $102.39. The company has a current ratio of 0.27, a quick ratio of 0.27 and a debt-to-equity ratio of 0.47. Jackson Financial has a one year low of $64.70 and a one year high of $123.61. The firm has a market cap of $7.94 billion, a price-to-earnings ratio of 16.15 and a beta of 1.45.

Hedge Funds Weigh In On Jackson Financial

A number of hedge funds and other institutional investors have recently modified their holdings of JXN. Allworth Financial LP increased its holdings in Jackson Financial by 404.0% in the 3rd quarter. Allworth Financial LP now owns 252 shares of the company’s stock valued at $26,000 after acquiring an additional 202 shares during the last quarter. Advisory Services Network LLC purchased a new position in shares of Jackson Financial during the third quarter valued at about $37,000. Employees Retirement System of Texas bought a new stake in shares of Jackson Financial in the third quarter worth about $38,000. UMB Bank n.a. lifted its position in shares of Jackson Financial by 41.0% in the fourth quarter. UMB Bank n.a. now owns 392 shares of the company’s stock worth $42,000 after buying an additional 114 shares in the last quarter. Finally, Inspire Investing LLC purchased a new stake in shares of Jackson Financial in the fourth quarter worth about $53,000. Institutional investors own 89.96% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on JXN. Morgan Stanley set a $105.00 price objective on Jackson Financial in a research note on Monday, December 15th. Barclays restated an “overweight” rating and issued a $137.00 price target on shares of Jackson Financial in a research report on Thursday, January 8th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Jackson Financial in a research report on Monday, December 29th. Finally, Evercore set a $118.00 price objective on Jackson Financial and gave the company an “in-line” rating in a research note on Tuesday, January 6th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and five have given a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $113.00.

About Jackson Financial

Jackson Financial Inc is a U.S.-based financial services holding company headquartered in Lansing, Michigan. The company operates primarily through its principal subsidiary, Jackson National Life Insurance Company, and specializes in designing and distributing retirement products. Jackson Financial has been publicly traded on the New York Stock Exchange under the ticker JXN since its initial public offering in May 2022.

The company’s core offerings include a broad range of fixed, variable and indexed annuity products aimed at helping individuals preserve and grow retirement assets.