Jackson Financial (NYSE:JXN) Sets New 52-Week High on Strong Earnings

Jackson Financial Inc. (NYSE:JXN - Get Free Report) hit a new 52-week high on Thursday following a better than expected earnings announcement. The company traded as high as $81.52 and last traded at $81.18, with a volume of 92191 shares changing hands. The stock had previously closed at $73.41.

The company reported $4.23 EPS for the quarter, beating analysts' consensus estimates of $3.67 by $0.56. The firm had revenue of $2 billion during the quarter, compared to the consensus estimate of $1.67 billion. The firm's revenue was up 5.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $3.15 earnings per share.

Jackson Financial Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 21st. Stockholders of record on Tuesday, March 12th were issued a dividend of $0.70 per share. This is a boost from Jackson Financial's previous quarterly dividend of $0.62. This represents a $2.80 annualized dividend and a dividend yield of 3.56%. The ex-dividend date of this dividend was Monday, March 11th. Jackson Financial's payout ratio is 28.54%.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on JXN. Keefe, Bruyette & Woods boosted their target price on shares of Jackson Financial from $68.00 to $75.00 and gave the stock an "outperform" rating in a report on Wednesday, April 10th. Morgan Stanley boosted their price objective on shares of Jackson Financial from $52.00 to $70.00 and gave the stock an "equal weight" rating in a research note on Monday, April 15th. Finally, Evercore ISI raised their target price on Jackson Financial from $55.00 to $62.00 and gave the stock an "in-line" rating in a research report on Thursday, April 11th. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $61.80.

Insider Transactions at Jackson Financial

In other news, Director Derek G. Kirkland bought 3,500 shares of the stock in a transaction that occurred on Monday, March 4th. The stock was acquired at an average price of $55.67 per share, with a total value of $194,845.00. Following the completion of the purchase, the director now directly owns 37,726 shares of the company's stock, valued at $2,100,206.42. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.30% of the company's stock.

Institutional Investors Weigh In On Jackson Financial

A number of hedge funds have recently added to or reduced their stakes in the business. NBC Securities Inc. bought a new stake in shares of Jackson Financial in the 3rd quarter valued at $28,000. GAMMA Investing LLC raised its holdings in shares of Jackson Financial by 47.0% during the first quarter. GAMMA Investing LLC now owns 482 shares of the company's stock valued at $32,000 after purchasing an additional 154 shares during the period. Daiwa Securities Group Inc. bought a new position in shares of Jackson Financial during the 4th quarter worth about $36,000. Headlands Technologies LLC acquired a new stake in shares of Jackson Financial in the 4th quarter valued at about $38,000. Finally, PNC Financial Services Group Inc. increased its position in Jackson Financial by 291.2% in the 3rd quarter. PNC Financial Services Group Inc. now owns 1,025 shares of the company's stock valued at $39,000 after buying an additional 763 shares in the last quarter. 89.96% of the stock is currently owned by institutional investors.

Jackson Financial Price Performance

The business has a 50-day moving average of $65.34 and a 200 day moving average of $54.11. The firm has a market capitalization of $6.09 billion, a P/E ratio of 8.01 and a beta of 1.54. The company has a current ratio of 0.33, a quick ratio of 0.33 and a debt-to-equity ratio of 0.41.

About Jackson Financial

Jackson Financial Inc, through its subsidiaries, provides suite of annuities to retail investors in the United States. The company operates through three segments: Retail Annuities, Institutional Products, and Closed Life and Annuity Blocks. The Retail Annuities segment offers various retirement income and savings products, including variable, fixed index, fixed, and payout annuities, as well as registered index-linked annuities and lifetime income solutions.