Jackson Financial (NYSE:JXN) Issues Earnings Results

Jackson Financial (NYSE:JXN) posted its quarterly earnings data on Tuesday. The company reported $5.15 earnings per share for the quarter, missing the consensus estimate of $5.96 by ($0.81), FiscalAI reports. The firm had revenue of $1.88 billion during the quarter, compared to the consensus estimate of $1.94 billion. During the same period last year, the company earned $5.10 earnings per share. The company’s revenue for the quarter was down 22.6% compared to the same quarter last year.

Jackson Financial Stock Performance

JXN stock traded up $4.80 during midday trading on Wednesday, hitting $113.27. The stock had a trading volume of 481,113 shares, compared to its average volume of 601,990. The firm has a market capitalization of $7.97 billion, a price-to-earnings ratio of -323.96 and a beta of 1.39. Jackson Financial has a 52 week low of $78.76 and a 52 week high of $123.61. The stock has a 50-day simple moving average of $108.00 and a 200 day simple moving average of $106.52. 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 Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 25th. Investors of record on Thursday, June 11th will be given a $0.90 dividend. This represents a $3.60 annualized dividend and a yield of 3.2%. The ex-dividend date of this dividend is Thursday, June 11th. Jackson Financial’s dividend payout ratio (DPR) is -1,028.57%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of JXN. Amundi lifted its position in Jackson Financial by 1,446.4% in the third quarter. Amundi now owns 193,825 shares of the company’s stock worth $19,696,000 after purchasing an additional 181,291 shares during the period. Focus Partners Wealth bought a new position in Jackson Financial in the third quarter worth $15,812,000. Federated Hermes Inc. raised its stake in Jackson Financial by 14.8% during the fourth quarter. Federated Hermes Inc. now owns 981,046 shares of the company’s stock worth $104,629,000 after acquiring an additional 126,611 shares in the last quarter. Two Sigma Investments LP raised its stake in Jackson Financial by 97.7% during the third quarter. Two Sigma Investments LP now owns 232,624 shares of the company’s stock worth $23,549,000 after acquiring an additional 114,954 shares in the last quarter. Finally, Tudor Investment Corp ET AL raised its stake in Jackson Financial by 45.6% during the fourth quarter. Tudor Investment Corp ET AL now owns 360,256 shares of the company’s stock worth $38,421,000 after acquiring an additional 112,819 shares in the last quarter. 89.96% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have weighed in on JXN. Barclays reduced their price target on shares of Jackson Financial from $138.00 to $136.00 and set an “overweight” rating for the company in a report on Wednesday, April 8th. Evercore set a $118.00 price objective on shares of Jackson Financial and gave the stock an “in-line” rating in a report on Tuesday, January 6th. Keefe, Bruyette & Woods dropped their price objective on shares of Jackson Financial from $123.00 to $120.00 and set a “market perform” rating on the stock in a report on Friday, April 10th. Finally, Wall Street Zen downgraded shares of Jackson Financial from a “buy” rating to a “hold” rating in a report on Saturday, April 11th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Jackson Financial currently has a consensus rating of “Hold” and a consensus price target of $114.80.

Jackson Financial Company Profile

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.