Jackson Financial (NYSE:JXN) Issues Earnings Results

Jackson Financial (NYSE:JXN) posted its quarterly earnings data on Wednesday. The company reported $4.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.67 by $0.56, Briefing.com reports. The firm had revenue of $2 billion during the quarter, compared to analysts’ expectations of $1.67 billion. Jackson Financial’s quarterly revenue was up 5.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.15 EPS.

Jackson Financial Stock Up 7.1 %

Shares of Jackson Financial stock traded up $5.24 during trading hours on Thursday, hitting $78.65. The company had a trading volume of 1,121,645 shares, compared to its average volume of 800,012. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.33 and a quick ratio of 0.33. The company’s 50-day moving average is $64.87 and its two-hundred day moving average is $53.94. The company has a market cap of $6.09 billion, a P/E ratio of 8.10 and a beta of 1.54. Jackson Financial has a twelve month low of $26.70 and a twelve month high of $81.52.

Jackson Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 21st. Shareholders of record on Tuesday, March 12th were issued a dividend of $0.70 per share. The ex-dividend date of this dividend was Monday, March 11th. This represents a $2.80 dividend on an annualized basis and a yield of 3.56%. This is a boost from Jackson Financial’s previous quarterly dividend of $0.62. Jackson Financial’s dividend payout ratio (DPR) is presently 28.54%.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on JXN shares. Morgan Stanley raised their price target on shares of Jackson Financial from $52.00 to $70.00 and gave the company an “equal weight” rating in a research report on Monday, April 15th. Evercore ISI upped their price target on Jackson Financial from $55.00 to $62.00 and gave the stock an “in-line” rating in a report on Thursday, April 11th. Finally, Keefe, Bruyette & Woods lifted their price objective on Jackson Financial from $68.00 to $75.00 and gave the company an “outperform” rating in a research note on Wednesday, April 10th. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $61.80.

Insider Buying and Selling

In other news, Director Derek G. Kirkland bought 3,500 shares of Jackson Financial stock in a transaction dated Monday, March 4th. The stock was acquired at an average cost of $55.67 per share, with a total value of $194,845.00. Following the acquisition, the director now owns 37,726 shares of the company’s stock, valued at $2,100,206.42. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. 1.30% of the stock is owned by company insiders.

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.