Jackson Financial (NYSE:JXN) Reaches New 1-Year High After Strong Earnings

Jackson Financial Inc. (NYSE:JXN)’s share price hit a new 52-week high on Thursday after the company announced better than expected quarterly earnings. The company traded as high as $81.52 and last traded at $81.18, with a volume of 92191 shares trading hands. The stock had previously closed at $73.41.

The company reported $4.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.67 by $0.56. The company had revenue of $2 billion for the quarter, compared to analyst estimates of $1.67 billion. The firm’s quarterly revenue was up 5.8% on a year-over-year basis. During the same quarter last year, the company posted $3.15 earnings per share.

Jackson Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 21st. Shareholders 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 yield of 3.45%. Jackson Financial’s dividend payout ratio (DPR) is 28.54%.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. Evercore ISI raised 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 note on Thursday, April 11th. Keefe, Bruyette & Woods boosted their target price on Jackson Financial from $68.00 to $75.00 and gave the stock an “outperform” rating in a report on Wednesday, April 10th. Finally, Morgan Stanley raised their price objective on shares of Jackson Financial from $52.00 to $70.00 and gave the company an “equal weight” rating in a research note on Monday, April 15th. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $61.80.

Insider Buying and Selling at Jackson Financial

In related news, Director Derek G. Kirkland acquired 3,500 shares of the stock in a transaction that occurred on Monday, March 4th. The stock was purchased at an average price of $55.67 per share, with a total value of $194,845.00. Following the transaction, the director now owns 37,726 shares of the company’s stock, valued at approximately $2,100,206.42. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.30% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. GAMMA Investing LLC lifted its position in Jackson Financial by 47.0% in the 1st quarter. GAMMA Investing LLC now owns 482 shares of the company’s stock valued at $32,000 after purchasing an additional 154 shares during the last quarter. Daiwa Securities Group Inc. acquired a new stake in Jackson Financial during the 4th quarter valued at $36,000. Headlands Technologies LLC purchased a new stake in Jackson Financial in the 4th quarter worth about $38,000. NBC Securities Inc. purchased a new position in Jackson Financial during the 3rd quarter valued at about $28,000. Finally, Valued Wealth Advisors LLC purchased a new stake in shares of Jackson Financial in the first quarter worth approximately $66,000. 89.96% of the stock is owned by hedge funds and other institutional investors.

Jackson Financial Trading Up 10.6 %

The company’s 50 day simple moving average is $64.87 and its two-hundred day simple moving average is $53.94. The stock has a market cap of $6.28 billion, a price-to-earnings ratio of 7.48 and a beta of 1.54. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.33 and a current ratio of 0.33.

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.