Jackson Financial (NYSE:JXN) Issues Earnings Results

Jackson Financial (NYSE:JXN) posted its earnings results on Tuesday. The company reported $5.15 earnings per share for the quarter, missing analysts’ consensus estimates of $5.96 by ($0.81), FiscalAI reports. The business had revenue of $1.88 billion during the quarter, compared to analyst estimates of $1.94 billion.

Jackson Financial Price Performance

Shares of JXN traded down $4.92 during mid-day trading on Tuesday, reaching $108.50. 1,303,948 shares of the stock traded hands, compared to its average volume of 603,665. Jackson Financial has a 1 year low of $78.76 and a 1 year high of $123.61. The company has a current ratio of 0.27, a quick ratio of 0.27 and a debt-to-equity ratio of 0.47. The company has a market cap of $7.64 billion, a price-to-earnings ratio of -310.00 and a beta of 1.39. The firm has a fifty day moving average price of $108.14 and a 200 day moving average price of $106.45.

Jackson Financial Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 26th. Stockholders of record on Monday, March 16th were given a dividend of $0.90 per share. This is an increase from Jackson Financial’s previous quarterly dividend of $0.80. The ex-dividend date was Monday, March 16th. This represents a $3.60 dividend on an annualized basis and a dividend yield of 3.3%. Jackson Financial’s dividend payout ratio (DPR) is presently -1,028.57%.

Analyst Ratings Changes

A number of research firms have weighed in on JXN. Wall Street Zen lowered Jackson Financial from a “buy” rating to a “hold” rating in a report on Saturday, April 11th. Keefe, Bruyette & Woods reduced their target price on Jackson Financial from $123.00 to $120.00 and set a “market perform” rating for the company in a report on Friday, April 10th. Evercore set a $118.00 target price on Jackson Financial and gave the company an “in-line” rating in a report on Tuesday, January 6th. Finally, Barclays reduced their target price on Jackson Financial from $138.00 to $136.00 and set an “overweight” rating for the company in a report on Wednesday, April 8th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $114.80.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. Triumph Capital Management grew its holdings in shares of Jackson Financial by 2.7% during the fourth quarter. Triumph Capital Management now owns 4,110 shares of the company’s stock worth $438,000 after purchasing an additional 107 shares in the last quarter. UMB Bank n.a. grew its holdings in shares of Jackson Financial by 41.0% during the fourth quarter. UMB Bank n.a. now owns 392 shares of the company’s stock worth $42,000 after purchasing an additional 114 shares in the last quarter. Integrated Wealth Concepts LLC grew its holdings in shares of Jackson Financial by 2.7% during the third quarter. Integrated Wealth Concepts LLC now owns 4,833 shares of the company’s stock worth $489,000 after purchasing an additional 128 shares in the last quarter. Smartleaf Asset Management LLC grew its holdings in shares of Jackson Financial by 14.5% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,308 shares of the company’s stock worth $141,000 after purchasing an additional 166 shares in the last quarter. Finally, HighTower Advisors LLC grew its position in Jackson Financial by 3.6% in the fourth quarter. HighTower Advisors LLC now owns 4,897 shares of the company’s stock worth $522,000 after acquiring an additional 172 shares in the last quarter. Hedge funds and other 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.