Jackson Financial (NYSE:JXN) Issues Quarterly Earnings Results, Beats Expectations By $1.58 EPS

Jackson Financial (NYSE:JXN) posted its earnings results on Monday. The company reported $7.30 earnings per share for the quarter, topping the consensus estimate of $5.72 by $1.58, FiscalAI reports. The business had revenue of $2 billion for the quarter, compared to the consensus estimate of $1.91 billion.

Jackson Financial Trading Up 3.0%

Jackson Financial stock opened at $125.90 on Tuesday. The company has a market cap of $8.78 billion, a price-to-earnings ratio of -20.61 and a beta of 1.30. The firm has a 50-day moving average of $111.97 and a 200-day moving average of $111.08. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.27 and a quick ratio of 0.27. Jackson Financial has a one year low of $83.67 and a one year high of $126.69.

Jackson Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 24th. Shareholders of record on Tuesday, September 15th will be given a dividend of $0.90 per share. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $3.60 annualized dividend and a yield of 2.9%. Jackson Financial’s payout ratio is -58.92%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Triumph Capital Management lifted its position in shares of Jackson Financial by 2.7% during the 4th quarter. Triumph Capital Management now owns 4,110 shares of the company’s stock worth $438,000 after buying an additional 107 shares in the last quarter. UMB Bank n.a. grew its holdings 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 valued at $42,000 after acquiring an additional 114 shares in the last quarter. Integrated Wealth Concepts LLC grew its holdings in shares of Jackson Financial by 2.7% in the third quarter. Integrated Wealth Concepts LLC now owns 4,833 shares of the company’s stock valued at $489,000 after acquiring an additional 128 shares in the last quarter. Smartleaf Asset Management LLC increased its position in shares of Jackson Financial by 14.5% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,308 shares of the company’s stock valued at $141,000 after acquiring an additional 166 shares during the last quarter. Finally, HighTower Advisors LLC lifted its holdings in Jackson Financial by 3.6% during the fourth quarter. HighTower Advisors LLC now owns 4,897 shares of the company’s stock worth $522,000 after acquiring an additional 172 shares during the period. 89.96% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

JXN has been the subject of a number of research reports. Jefferies Financial Group raised Jackson Financial from a “hold” rating to a “buy” rating and increased their target price for the stock from $120.00 to $140.00 in a research note on Friday, July 10th. Wall Street Zen cut shares of Jackson Financial from a “buy” rating to a “hold” rating in a report on Saturday, April 11th. Barclays reissued an “overweight” rating and set a $149.00 price objective (up from $139.00) on shares of Jackson Financial in a research report on Tuesday. Weiss Ratings cut Jackson Financial from a “hold (c)” rating to a “hold (c-)” rating in a report on Tuesday, May 12th. Finally, Keefe, Bruyette & Woods lifted their price target on Jackson Financial from $125.00 to $130.00 and gave the company a “market perform” rating in a research note on Monday, July 13th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $128.40.

Jackson Financial Company Profile

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.