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

Jackson Financial (NYSE:JXN) issued its quarterly earnings results on Wednesday. The company reported $4.23 EPS for the quarter, topping analysts’ consensus estimates of $3.67 by $0.56, Briefing.com reports. The business had revenue of $2 billion for the quarter, compared to analyst estimates of $1.67 billion. Jackson Financial’s revenue for the quarter was up 5.8% on a year-over-year basis. During the same quarter last year, the firm posted $3.15 EPS.

Jackson Financial Stock Performance

Jackson Financial stock traded up $5.24 during midday trading on Thursday, reaching $78.65. 1,121,678 shares of the company traded hands, compared to its average volume of 800,012. The firm has a market capitalization of $6.09 billion, a price-to-earnings ratio of 8.02 and a beta of 1.54. 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 business has a 50 day moving average of $64.87 and a two-hundred day moving average of $53.94. Jackson Financial has a 12 month low of $26.70 and a 12 month high of $81.52.

Jackson Financial Increases Dividend

The company 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 of this dividend was Monday, March 11th. This is a boost from Jackson Financial’s previous quarterly dividend of $0.62. This represents a $2.80 annualized dividend and a yield of 3.56%. Jackson Financial’s payout ratio is 28.54%.

Insider Buying and Selling at Jackson Financial

In other Jackson Financial news, Director Derek G. Kirkland acquired 3,500 shares of the company’s stock in a transaction that occurred on Monday, March 4th. The shares were bought at an average price of $55.67 per share, with a total value of $194,845.00. Following the completion of the acquisition, the director now owns 37,726 shares in the company, valued at approximately $2,100,206.42. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 1.30% of the company’s stock.

Analyst Upgrades and Downgrades

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

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.