Jackson Financial (NYSE:JXN) Posts Earnings Results, Beats Expectations By $0.71 EPS

Jackson Financial (NYSE:JXN) released its quarterly earnings data on Wednesday. The company reported $6.61 earnings per share for the quarter, beating the consensus estimate of $5.90 by $0.71, FiscalAI reports. The company had revenue of $1.99 billion for the quarter, compared to analysts’ expectations of $1.92 billion. The firm’s revenue for the quarter was down 2.8% on a year-over-year basis. During the same period in the previous year, the firm earned $4.65 earnings per share.

Jackson Financial Stock Down 2.8%

Shares of JXN opened at $113.71 on Friday. The business’s 50 day moving average is $112.79 and its 200 day moving average is $102.57. The company has a current ratio of 0.27, a quick ratio of 0.27 and a debt-to-equity ratio of 0.47. Jackson Financial has a 12-month low of $64.70 and a 12-month high of $123.61. The company has a market capitalization of $7.73 billion, a PE ratio of -324.87 and a beta of 1.45.

Jackson Financial Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 26th. Investors of record on Monday, March 16th will be paid a dividend of $0.90 per share. This is a boost from Jackson Financial’s previous quarterly dividend of $0.80. The ex-dividend date of this dividend is Monday, March 16th. This represents a $3.60 annualized dividend and a yield of 3.2%. Jackson Financial’s dividend payout ratio is 44.26%.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. Morgan Stanley set a $105.00 target price on shares of Jackson Financial in a research note on Monday, December 15th. Barclays reiterated an “overweight” rating and set a $137.00 price objective on shares of Jackson Financial in a research report on Thursday, January 8th. Weiss Ratings reissued a “hold (c+)” rating on shares of Jackson Financial in a research report on Monday, December 29th. Finally, Evercore set a $118.00 price target on Jackson Financial and gave the company an “in-line” rating in a research note on Tuesday, January 6th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $113.00.

Institutional Investors Weigh In On Jackson Financial

Several institutional investors and hedge funds have recently modified their holdings of JXN. Allworth Financial LP lifted its holdings in shares of Jackson Financial by 404.0% in the third quarter. Allworth Financial LP now owns 252 shares of the company’s stock worth $26,000 after buying an additional 202 shares in the last quarter. Advisory Services Network LLC purchased a new stake in Jackson Financial in the 3rd quarter worth $37,000. Employees Retirement System of Texas bought a new position in shares of Jackson Financial during the 3rd quarter valued at about $38,000. UMB Bank n.a. grew its position in shares of Jackson Financial by 41.0% during the fourth quarter. UMB Bank n.a. now owns 392 shares of the company’s stock valued at $42,000 after purchasing an additional 114 shares in the last quarter. Finally, Inspire Investing LLC purchased a new position in shares of Jackson Financial during the fourth quarter valued at about $53,000. Institutional investors own 89.96% of the company’s stock.

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.