Jackson Financial (NYSE:JXN) Posts Quarterly Earnings Results, Misses Expectations By $0.81 EPS

Key Points

• Missed expectations: Jackson Financial reported EPS of $5.15 versus a $5.96 consensus (a $0.81 miss) and revenue of $1.88 billion compared with $1.94 billion expected.
• The stock fell $4.92 to $108.50 on heavy volume, trades near its 50- and 200-day averages, has a market cap of $7.64 billion and a negative PE of -310, while Wall Street’s average rating is "Hold" with a $114.80 target.
• Dividend increase: the company raised its quarterly dividend to $0.90 (from $0.80), implying a $3.60 annual payout and a 3.3% yield, despite an anomalous payout ratio of -1,028.57%.

Jackson Financial (NYSE:JXN - Get Free Report) announced its earnings results on Tuesday. The company reported $5.15 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.96 by ($0.81), FiscalAI reports. The firm had revenue of $1.88 billion during the quarter, compared to analysts' expectations of $1.94 billion.

Jackson Financial Stock Performance

JXN traded down $4.92 during trading hours on Tuesday, hitting $108.50. The stock had a trading volume of 1,303,948 shares, compared to its average volume of 603,665. The company's fifty day simple moving average is $108.14 and its 200 day simple moving average is $106.45. Jackson Financial has a 1 year low of $78.76 and a 1 year high of $123.61. The stock has a market cap of $7.64 billion, a PE ratio of -310.00 and a beta of 1.39. The company has a quick ratio of 0.27, a current ratio of 0.27 and a debt-to-equity ratio of 0.47.

Jackson Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 26th. Investors of record on Monday, March 16th were issued a $0.90 dividend. This is an increase from Jackson Financial's previous quarterly dividend of $0.80. The ex-dividend date of this dividend was Monday, March 16th. This represents a $3.60 annualized dividend and a yield of 3.3%. Jackson Financial's payout ratio is -1,028.57%.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on JXN shares. Keefe, Bruyette & Woods decreased their price target on shares of Jackson Financial from $123.00 to $120.00 and set a "market perform" rating for the company in a research note on Friday, April 10th. Evercore set a $118.00 price target on shares of Jackson Financial and gave the stock an "in-line" rating in a research note on Tuesday, January 6th. Barclays decreased their price target on shares of Jackson Financial from $138.00 to $136.00 and set an "overweight" rating for the company in a research note on Wednesday, April 8th. Finally, Wall Street Zen lowered shares of Jackson Financial from a "buy" rating to a "hold" rating in a research note on Saturday, April 11th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and five have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $114.80.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Allworth Financial LP grew its stake in Jackson Financial by 404.0% in the 3rd quarter. Allworth Financial LP now owns 252 shares of the company's stock valued at $26,000 after buying an additional 202 shares in the last quarter. Advisory Services Network LLC purchased a new position in Jackson Financial in the 3rd quarter valued at approximately $37,000. Employees Retirement System of Texas purchased a new position in Jackson Financial in the 3rd quarter valued at approximately $38,000. UMB Bank n.a. grew its stake in Jackson Financial by 41.0% in the 4th quarter. UMB Bank n.a. now owns 392 shares of the company's stock valued at $42,000 after buying an additional 114 shares in the last quarter. Finally, Inspire Investing LLC purchased a new position in Jackson Financial in the 4th quarter valued at approximately $53,000. 89.96% of the stock is currently owned by hedge funds and other institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.