Jackson Financial (NYSE:JXN) Sets New 12-Month High on Strong Earnings

Key Points

• Jackson Financial shares reached a new 52-week high after the company reported quarterly EPS of $7.30, beating analyst expectations of $5.72, while revenue came in at $2 billion versus the $1.91 billion consensus estimate.
• The company declared a quarterly dividend of $0.90 per share, equivalent to $3.60 annually and a 2.8% yield, with payment scheduled for September 24 to shareholders of record as of September 15.
• Analyst sentiment is broadly positive, with a “Moderate Buy” consensus and price targets ranging up to $149; institutional investors own nearly 90% of the stock.

Jackson Financial Inc. (NYSE:JXN - Get Free Report) shares reached a new 52-week high on Tuesday following a better than expected earnings announcement. The company traded as high as $137.99 and last traded at $133.4180, with a volume of 62281 shares traded. The stock had previously closed at $126.17.

The company reported $7.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.72 by $1.58. The business had revenue of $2 billion for the quarter, compared to analyst estimates of $1.91 billion.

Jackson Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 24th. Stockholders of record on Tuesday, September 15th will be issued a dividend of $0.90 per share. The ex-dividend date is Tuesday, September 15th. This represents a $3.60 annualized dividend and a dividend yield of 2.8%. Jackson Financial's dividend payout ratio is -58.92%.

Analysts Set New Price Targets

JXN has been the subject of a number of recent analyst reports. Keefe, Bruyette & Woods lifted their target price 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. Weiss Ratings lowered shares of Jackson Financial from a "hold (c)" rating to a "hold (c-)" rating in a research note on Tuesday, May 12th. Wall Street Zen cut shares of Jackson Financial from a "buy" rating to a "hold" rating in a report on Saturday, April 11th. Jefferies Financial Group upgraded shares of Jackson Financial from a "hold" rating to a "buy" rating and lifted their price objective for the stock from $120.00 to $140.00 in a research note on Friday, July 10th. Finally, Barclays boosted their price objective on shares of Jackson Financial from $139.00 to $149.00 and gave the company an "overweight" rating in a report on Tuesday. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and four have given a Hold rating to the company's stock. According to data from MarketBeat, Jackson Financial currently has an average rating of "Moderate Buy" and a consensus target price of $128.40.

Institutional Investors Weigh In On Jackson Financial

Hedge funds have recently added to or reduced their stakes in the business. Wedge Capital Management L L P NC raised its stake in shares of Jackson Financial by 6.4% during the 2nd quarter. Wedge Capital Management L L P NC now owns 310,357 shares of the company's stock valued at $31,777,000 after buying an additional 18,666 shares during the last quarter. Handelsbanken Fonder AB lifted its holdings in shares of Jackson Financial by 13.7% in the 2nd quarter. Handelsbanken Fonder AB now owns 20,700 shares of the company's stock valued at $2,119,000 after buying an additional 2,500 shares during the period. GAMMA Investing LLC boosted its stake in shares of Jackson Financial by 5.5% in the second quarter. GAMMA Investing LLC now owns 3,492 shares of the company's stock worth $358,000 after buying an additional 181 shares during the last quarter. CoreCap Advisors LLC purchased a new stake in shares of Jackson Financial in the second quarter worth about $101,000. Finally, Pacer Advisors Inc. grew its holdings in Jackson Financial by 58.6% during the first quarter. Pacer Advisors Inc. now owns 853 shares of the company's stock worth $90,000 after acquiring an additional 315 shares during the period. 89.96% of the stock is owned by hedge funds and other institutional investors.

Jackson Financial Stock Performance

The firm has a fifty day moving average of $111.97 and a 200 day moving average of $111.08. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.27 and a quick ratio of 0.27. The stock has a market capitalization of $9.12 billion, a price-to-earnings ratio of -21.44 and a beta of 1.30.

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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