Jackson Financial (NYSE:JXN) Releases Earnings Results, Beats Expectations By $0.93 EPS

Jackson Financial (NYSE:JXN) issued its earnings results on Tuesday. The company reported $6.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.23 by $0.93, Zacks reports. Jackson Financial had a net margin of 1.73% and a return on equity of 14.73%. The business’s revenue was down 33.2% compared to the same quarter last year. During the same period in the previous year, the business posted $4.60 EPS.

Jackson Financial Price Performance

JXN stock traded up $1.16 during mid-day trading on Tuesday, hitting $100.79. The stock had a trading volume of 728,658 shares, compared to its average volume of 426,585. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 0.46. Jackson Financial has a 52 week low of $64.70 and a 52 week high of $115.22. The firm has a market capitalization of $7.02 billion, a P/E ratio of -1,679.59 and a beta of 1.45. The firm has a fifty day simple moving average of $98.87 and a 200 day simple moving average of $90.55.

Analysts Set New Price Targets

JXN has been the subject of a number of research reports. Keefe, Bruyette & Woods raised their target price on shares of Jackson Financial from $105.00 to $110.00 and gave the stock a “market perform” rating in a research note on Thursday, October 9th. Barclays raised their target price on shares of Jackson Financial from $118.00 to $125.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 8th. Weiss Ratings restated a “hold (c-)” rating on shares of Jackson Financial in a research note on Wednesday, October 8th. Evercore ISI raised their target price on shares of Jackson Financial from $100.00 to $110.00 and gave the stock an “underperform” rating in a research note on Thursday, October 9th. Finally, Morgan Stanley raised their target price on shares of Jackson Financial from $97.00 to $106.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 7th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $109.20.

Hedge Funds Weigh In On Jackson Financial

Several hedge funds have recently bought and sold shares of JXN. EverSource Wealth Advisors LLC grew its holdings in shares of Jackson Financial by 55.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 911 shares of the company’s stock valued at $81,000 after purchasing an additional 325 shares during the last quarter. Geneos Wealth Management Inc. boosted its position in Jackson Financial by 81.9% in the second quarter. Geneos Wealth Management Inc. now owns 1,333 shares of the company’s stock valued at $118,000 after buying an additional 600 shares in the last quarter. State of Wyoming acquired a new stake in Jackson Financial in the second quarter valued at approximately $189,000. StoneX Group Inc. acquired a new stake in Jackson Financial in the second quarter valued at approximately $212,000. Finally, Florida Financial Advisors LLC boosted its position in Jackson Financial by 19.4% in the second quarter. Florida Financial Advisors LLC now owns 4,283 shares of the company’s stock valued at $380,000 after buying an additional 696 shares in the last quarter. 89.96% of the stock is owned by institutional investors.

Jackson Financial declared that its board has approved a stock repurchase plan on Thursday, September 18th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the company to purchase up to 14.4% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s leadership believes its shares are undervalued.

Jackson Financial Company Profile

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.