Jackson Financial (NYSE:JXN) Announces Earnings Results

Jackson Financial (NYSE:JXN) issued its quarterly earnings data on Monday. The company reported $7.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.72 by $1.58, FiscalAI reports. The firm had revenue of $2 billion during the quarter, compared to analyst estimates of $1.91 billion.

Jackson Financial Stock Performance

Shares of NYSE JXN traded up $3.62 during midday trading on Monday, hitting $125.90. 990,691 shares of the company’s stock were exchanged, compared to its average volume of 617,009. Jackson Financial has a twelve month low of $83.67 and a twelve month high of $126.69. The firm has a market cap of $8.78 billion, a P/E ratio of -20.61 and a beta of 1.32. The stock’s 50 day moving average price is $111.59 and its 200-day moving average price is $110.99. 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 Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 25th. Stockholders 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 payout ratio is currently -58.92%.

Institutional Trading of Jackson Financial

Several hedge funds have recently added to or reduced their stakes in JXN. Amundi grew its position in Jackson Financial by 1,446.4% in the third quarter. Amundi now owns 193,825 shares of the company’s stock worth $19,696,000 after buying an additional 181,291 shares during the last quarter. Focus Partners Wealth acquired a new position in shares of Jackson Financial in the 3rd quarter worth $15,812,000. Federated Hermes Inc. raised its position in shares of Jackson Financial by 14.8% during the fourth quarter. Federated Hermes Inc. now owns 981,046 shares of the company’s stock worth $104,629,000 after purchasing an additional 126,611 shares during the period. Two Sigma Investments LP lifted its holdings in shares of Jackson Financial by 97.7% during the third quarter. Two Sigma Investments LP now owns 232,624 shares of the company’s stock valued at $23,549,000 after purchasing an additional 114,954 shares during the last quarter. Finally, Tudor Investment Corp ET AL lifted its holdings in shares of Jackson Financial by 45.6% during the fourth quarter. Tudor Investment Corp ET AL now owns 360,256 shares of the company’s stock valued at $38,421,000 after purchasing an additional 112,819 shares during the last quarter. Institutional investors own 89.96% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. Jefferies Financial Group raised shares of 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. Barclays upped their price objective on shares of Jackson Financial from $136.00 to $139.00 and gave the company an “overweight” rating in a research report on Tuesday, July 7th. Keefe, Bruyette & Woods raised their target price 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. Wall Street Zen lowered Jackson Financial from a “buy” rating to a “hold” rating in a research report on Saturday, April 11th. Finally, Weiss Ratings cut Jackson Financial from a “hold (c)” rating to a “hold (c-)” rating in a research note on Tuesday, May 12th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $126.40.

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.