Jackson Financial (NYSE:JXN) Issues Earnings Results, Beats Expectations By $1.00 EPS

Jackson Financial (NYSE:JXN) posted its quarterly earnings results on Wednesday. The company reported $5.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.32 by $1.00, Briefing.com reports. The business had revenue of $2.01 billion during the quarter, compared to analyst estimates of $1.71 billion. The business’s revenue for the quarter was up 5.0% on a year-over-year basis. During the same period last year, the company earned $3.34 EPS.

Jackson Financial Trading Up 0.9 %

Shares of JXN stock traded up $0.73 on Friday, reaching $82.58. 844,476 shares of the stock were exchanged, compared to its average volume of 768,762. The stock has a 50 day moving average price of $76.91 and a 200 day moving average price of $67.72. The stock has a market cap of $6.30 billion, a PE ratio of 2.18 and a beta of 1.51. Jackson Financial has a one year low of $32.84 and a one year high of $89.63. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.32 and a quick ratio of 0.32.

Jackson Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 19th. Shareholders of record on Thursday, September 5th will be issued a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 3.39%. The ex-dividend date is Thursday, September 5th. Jackson Financial’s dividend payout ratio is 7.40%.

Insider Buying and Selling at Jackson Financial

In other Jackson Financial news, CFO Don W. Cummings bought 1,445 shares of the stock in a transaction on Wednesday, June 5th. The stock was purchased at an average price of $72.70 per share, with a total value of $105,051.50. Following the acquisition, the chief financial officer now owns 45,711 shares of the company’s stock, valued at $3,323,189.70. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 1.30% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. Morgan Stanley increased their price objective on Jackson Financial from $82.00 to $84.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 10th. Jefferies Financial Group increased their target price on shares of Jackson Financial from $73.00 to $80.00 and gave the stock a “hold” rating in a research report on Monday, July 29th. Keefe, Bruyette & Woods downgraded shares of Jackson Financial from an “outperform” rating to a “market perform” rating and lifted their price target for the company from $75.00 to $80.00 in a report on Tuesday, May 14th. Finally, Evercore ISI decreased their price objective on shares of Jackson Financial from $75.00 to $73.00 and set an “in-line” rating on the stock in a research note on Wednesday, June 26th. Five analysts have rated the stock with a hold rating, According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $72.80.

Jackson Financial Company Profile

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.