Jackson Financial (NYSE:JXN) Releases Quarterly Earnings Results, Beats Expectations By $1.58 EPS

Jackson Financial (NYSE:JXN) announced its quarterly earnings data on Monday. The company reported $7.30 earnings per share for the quarter, beating the consensus estimate of $5.72 by $1.58, FiscalAI reports. Jackson Financial had a return on equity of 19.04% and a net margin of 1.59%.The business had revenue of $2 billion during the quarter, compared to analyst estimates of $1.91 billion.

Jackson Financial Stock Up 1.2%

Shares of JXN traded up $1.55 during midday trading on Wednesday, reaching $135.16. 138,513 shares of the stock were exchanged, compared to its average volume of 616,520. The company has a market cap of $9.43 billion, a price-to-earnings ratio of -22.12 and a beta of 1.30. The company has a quick ratio of 0.27, a current ratio of 0.27 and a debt-to-equity ratio of 0.49. Jackson Financial has a 12-month low of $88.20 and a 12-month high of $137.99. The firm has a 50 day simple moving average of $112.52 and a 200-day simple moving average of $111.23.

Jackson Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 24th. Stockholders of record on Tuesday, September 15th will be paid a dividend of $0.90 per share. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $3.60 dividend on an annualized basis and a dividend yield of 2.7%. Jackson Financial’s dividend payout ratio (DPR) is -58.92%.

Hedge Funds Weigh In On Jackson Financial

Hedge funds have recently added to or reduced their stakes in the company. Corient Private Wealth LLC boosted its stake in shares of Jackson Financial by 7.4% during the 4th quarter. Corient Private Wealth LLC now owns 12,523 shares of the company’s stock worth $1,336,000 after acquiring an additional 867 shares in the last quarter. Mercer Global Advisors Inc. ADV raised its stake in shares of Jackson Financial by 8.2% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 18,311 shares of the company’s stock valued at $1,953,000 after acquiring an additional 1,383 shares in the last quarter. State of Tennessee Department of Treasury raised its stake in shares of Jackson Financial by 7.0% in the 4th quarter. State of Tennessee Department of Treasury now owns 38,446 shares of the company’s stock valued at $4,100,000 after acquiring an additional 2,515 shares in the last quarter. EP Wealth Advisors LLC acquired a new stake in Jackson Financial in the 4th quarter worth approximately $345,000. Finally, Mackenzie Financial Corp lifted its holdings in Jackson Financial by 1.3% in the 4th quarter. Mackenzie Financial Corp now owns 27,700 shares of the company’s stock worth $2,974,000 after purchasing an additional 349 shares during the last quarter. Institutional investors and hedge funds own 89.96% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on JXN shares. Weiss Ratings lowered shares of Jackson Financial from a “hold (c)” rating to a “hold (c-)” rating in a report on Tuesday, May 12th. Keefe, Bruyette & Woods raised their price objective on shares of Jackson Financial from $125.00 to $130.00 and gave the stock a “market perform” rating in a research note on Monday, July 13th. Wall Street Zen cut shares of Jackson Financial from a “buy” rating to a “hold” rating in a research report on Saturday, April 11th. Evercore set a $135.00 target price on shares of Jackson Financial in a research note on Wednesday. Finally, Jefferies Financial Group raised Jackson Financial from a “hold” rating to a “buy” rating and raised their target price for the stock from $120.00 to $140.00 in a research report on Friday, July 10th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Jackson Financial presently has an average rating of “Moderate Buy” and an average target price of $131.80.

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.