Jackson Financial (NYSE:JXN) Posts Quarterly Earnings Results, Beats Estimates By $0.56 EPS

Jackson Financial (NYSE:JXN) announced its quarterly earnings data on Wednesday. The company reported $4.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.67 by $0.56, Briefing.com reports. The business had revenue of $2 billion during the quarter, compared to analyst estimates of $1.67 billion. During the same period in the prior year, the firm earned $3.15 earnings per share. The firm’s revenue for the quarter was up 5.8% compared to the same quarter last year.

Jackson Financial Stock Up 7.1 %

Jackson Financial stock traded up $5.24 during midday trading on Thursday, hitting $78.65. 1,121,645 shares of the stock were exchanged, compared to its average volume of 800,012. The company has a quick ratio of 0.33, a current ratio of 0.33 and a debt-to-equity ratio of 0.41. The stock has a market capitalization of $6.09 billion, a price-to-earnings ratio of 8.10 and a beta of 1.54. Jackson Financial has a 52-week low of $26.70 and a 52-week high of $81.52. The business’s 50-day moving average price is $64.87 and its 200-day moving average price is $53.94.

Jackson Financial Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 21st. Stockholders of record on Tuesday, March 12th were paid a $0.70 dividend. This is a positive change from Jackson Financial’s previous quarterly dividend of $0.62. The ex-dividend date was Monday, March 11th. This represents a $2.80 annualized dividend and a dividend yield of 3.56%. Jackson Financial’s dividend payout ratio is presently 28.54%.

Analyst Ratings Changes

Several equities analysts have issued reports on the company. Morgan Stanley boosted their price target on Jackson Financial from $52.00 to $70.00 and gave the company an “equal weight” rating in a research note on Monday, April 15th. Evercore ISI boosted their target price on shares of Jackson Financial from $55.00 to $62.00 and gave the company an “in-line” rating in a research report on Thursday, April 11th. Finally, Keefe, Bruyette & Woods raised their price target on shares of Jackson Financial from $68.00 to $75.00 and gave the stock an “outperform” rating in a report on Wednesday, April 10th. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $61.80.

Insiders Place Their Bets

In other Jackson Financial news, Director Derek G. Kirkland purchased 3,500 shares of the company’s stock in a transaction that occurred on Monday, March 4th. The shares were acquired at an average cost of $55.67 per share, for a total transaction of $194,845.00. Following the completion of the acquisition, the director now owns 37,726 shares of the company’s stock, valued at approximately $2,100,206.42. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 1.30% 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.