Jackson Financial (NYSE:JXN) Announces Earnings Results, Beats Estimates By $1.58 EPS

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

Jackson Financial Price Performance

NYSE:JXN traded up $3.62 during mid-day trading on Monday, reaching $125.90. The stock had a trading volume of 990,191 shares, compared to its average volume of 617,001. Jackson Financial has a 12 month low of $83.67 and a 12 month high of $126.69. The stock has a market capitalization of $8.78 billion, a PE ratio of -20.61 and a beta of 1.32. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.27 and a quick ratio of 0.27. The stock has a 50-day simple moving average of $111.59 and a two-hundred day simple moving average of $110.99.

Jackson Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, June 25th. Investors of record on Thursday, June 11th were given a dividend of $0.90 per share. The ex-dividend date was Thursday, June 11th. This represents a $3.60 annualized dividend and a dividend yield of 2.9%. Jackson Financial’s dividend payout ratio (DPR) is currently -58.92%.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. Jefferies Financial Group raised Jackson Financial from a “hold” rating to a “buy” rating and raised their price target for the company from $120.00 to $140.00 in a report on Friday, July 10th. Weiss Ratings downgraded shares of Jackson Financial from a “hold (c)” rating to a “hold (c-)” rating in a report on Tuesday, May 12th. Wall Street Zen cut shares of Jackson Financial from a “buy” rating to a “hold” rating in a report on Saturday, April 11th. Barclays boosted their price objective on Jackson Financial from $136.00 to $139.00 and gave the stock an “overweight” rating in a report on Tuesday, July 7th. Finally, Keefe, Bruyette & Woods increased their target price on Jackson Financial from $125.00 to $130.00 and gave the stock a “market perform” rating in a research note on Monday, July 13th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $126.40.

Hedge Funds Weigh In On Jackson Financial

Hedge funds and other institutional investors have recently modified their holdings of the business. Dimensional Fund Advisors LP lifted its position in shares of Jackson Financial by 1.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 4,041,610 shares of the company’s stock worth $431,045,000 after buying an additional 46,661 shares during the last quarter. Morgan Stanley boosted its stake in shares of Jackson Financial by 6.0% in the 4th quarter. Morgan Stanley now owns 1,196,405 shares of the company’s stock valued at $127,597,000 after purchasing an additional 67,796 shares in the last quarter. Federated Hermes Inc. grew its holdings in shares of Jackson Financial by 14.8% during the 4th quarter. Federated Hermes Inc. now owns 981,046 shares of the company’s stock valued at $104,629,000 after purchasing an additional 126,611 shares during the last quarter. Jacobs Levy Equity Management Inc. increased its position in Jackson Financial by 7.4% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 578,111 shares of the company’s stock worth $58,522,000 after purchasing an additional 39,883 shares in the last quarter. Finally, Janus Henderson Group PLC increased its position in Jackson Financial by 36.7% during the 4th quarter. Janus Henderson Group PLC now owns 368,277 shares of the company’s stock worth $39,271,000 after purchasing an additional 98,805 shares in the last quarter. Institutional investors own 89.96% of the company’s stock.

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.