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

Key Points

• Jackson Financial beat quarterly earnings expectations: The company reported $7.30 in EPS versus the $5.72 analyst consensus and generated $2.0 billion in revenue, above estimates of $1.91 billion.
• Shares rose 3.0% to $125.90 following the results, approaching the company’s 52-week high of $126.69.
• Jackson Financial declared a quarterly dividend of $0.90, equivalent to $3.60 annually and a 2.9% yield. Analysts maintain a consensus “Moderate Buy” rating with an average price target of $126.40.

Jackson Financial (NYSE:JXN - Get Free Report) released its quarterly earnings results on Monday. The company reported $7.30 earnings per share for the quarter, beating analysts' consensus estimates of $5.72 by $1.58, FiscalAI reports. The business had revenue of $2 billion for the quarter, compared to analyst estimates of $1.91 billion.

Jackson Financial Stock Up 3.0%

Shares of NYSE:JXN traded up $3.62 during trading on Monday, hitting $125.90. 990,191 shares of the company's stock traded hands, compared to its average volume of 617,001. The company has a current ratio of 0.27, a quick ratio of 0.27 and a debt-to-equity ratio of 0.49. The company has a 50-day moving average price of $111.59 and a 200-day moving average price of $110.99. Jackson Financial has a 52 week low of $83.67 and a 52 week high of $126.69. The company has a market cap of $8.78 billion, a price-to-earnings ratio of -20.61 and a beta of 1.32.

Jackson Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 25th. Investors of record on Thursday, June 11th were given a $0.90 dividend. The ex-dividend date was Thursday, June 11th. This represents a $3.60 dividend on an annualized basis and a dividend yield of 2.9%. Jackson Financial's dividend payout ratio is currently -58.92%.

Hedge Funds Weigh In On Jackson Financial

Large investors have recently added to or reduced their stakes in the company. Integrated Wealth Concepts LLC lifted its position in shares of Jackson Financial by 33.2% in the first quarter. Integrated Wealth Concepts LLC now owns 5,471 shares of the company's stock worth $458,000 after purchasing an additional 1,363 shares in the last quarter. Woodline Partners LP acquired a new position in shares of Jackson Financial during the 1st quarter worth about $4,081,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of Jackson Financial by 3.6% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 210,836 shares of the company's stock valued at $17,664,000 after acquiring an additional 7,380 shares in the last quarter. EverSource Wealth Advisors LLC increased its position in shares of Jackson Financial by 55.5% in the second quarter. EverSource Wealth Advisors LLC now owns 911 shares of the company's stock valued at $81,000 after acquiring an additional 325 shares during the last quarter. Finally, Marshall Wace LLP bought a new stake in Jackson Financial during the second quarter worth about $986,000. Institutional investors own 89.96% of the company's stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on JXN shares. Wall Street Zen cut Jackson Financial from a "buy" rating to a "hold" rating in a report on Saturday, April 11th. Weiss Ratings lowered shares of Jackson Financial from a "hold (c)" rating to a "hold (c-)" rating in a research report on Tuesday, May 12th. Jefferies Financial Group raised shares of Jackson Financial from a "hold" rating to a "buy" rating and raised their price target for the company from $120.00 to $140.00 in a report on Friday, July 10th. Barclays upped their price objective on Jackson Financial from $136.00 to $139.00 and gave the stock an "overweight" rating in a report on Tuesday, July 7th. Finally, Keefe, Bruyette & Woods boosted their target price on Jackson Financial from $125.00 to $130.00 and gave the stock a "market perform" rating in a research report on Monday, July 13th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and four have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, Jackson Financial currently has a consensus rating of "Moderate Buy" and an average target price of $126.40.

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.

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