Jackson Financial (NYSE:JXN) Posts Earnings Results, Beats Expectations By $0.56 EPS

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

Jackson Financial Price Performance

Jackson Financial stock traded up $5.24 during mid-day trading on Thursday, reaching $78.65. The company had a trading volume of 1,121,678 shares, compared to its average volume of 800,012. Jackson Financial has a 1 year low of $26.70 and a 1 year high of $81.52. The company has a market capitalization of $6.09 billion, a P/E ratio of 8.02 and a beta of 1.54. The stock’s 50-day simple moving average is $64.87 and its 200-day simple moving average is $53.94. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.33 and a quick ratio of 0.33.

Jackson Financial Increases Dividend

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

Insider Buying and Selling

In related news, Director Derek G. Kirkland bought 3,500 shares of the stock in a transaction that occurred on Monday, March 4th. The stock was purchased at an average cost of $55.67 per share, for a total transaction of $194,845.00. Following the completion of the acquisition, the director now owns 37,726 shares in the company, valued at $2,100,206.42. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.30% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on JXN. Morgan Stanley increased their price objective on Jackson Financial from $52.00 to $70.00 and gave the company an “equal weight” rating in a report on Monday, April 15th. Evercore ISI increased their price target on shares of Jackson Financial from $55.00 to $62.00 and gave the stock an “in-line” rating in a research note on Thursday, April 11th. Finally, Keefe, Bruyette & Woods lifted their target price 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 analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $61.80.

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.