Jackson Financial (NYSE:JXN) Posts Quarterly Earnings Results

Jackson Financial (NYSE:JXN) released its quarterly earnings data on Wednesday. The company reported $4.60 EPS for the quarter, missing the consensus estimate of $4.66 by ($0.06), Briefing.com reports. The firm had revenue of $2.12 billion during the quarter, compared to the consensus estimate of $1.73 billion. During the same period in the previous year, the firm posted $3.80 earnings per share.

Jackson Financial Trading Down 2.4 %

JXN opened at $110.99 on Friday. The company has a 50-day simple moving average of $93.64 and a 200 day simple moving average of $83.00. The stock has a market capitalization of $8.35 billion, a price-to-earnings ratio of 4.10 and a beta of 1.48. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.42. Jackson Financial has a twelve month low of $38.69 and a twelve month high of $115.09.

Jackson Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Thursday, December 5th will be given a dividend of $0.70 per share. The ex-dividend date is Thursday, December 5th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.52%. Jackson Financial’s payout ratio is 10.34%.

Insider Transactions at Jackson Financial

In other Jackson Financial news, EVP Carrie Chelko sold 5,500 shares of the business’s stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $91.31, for a total transaction of $502,205.00. Following the completion of the transaction, the executive vice president now directly owns 61,829 shares in the company, valued at $5,645,605.99. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.30% of the stock is currently owned by insiders.

Jackson Financial declared that its board has approved a share buyback plan on Wednesday, August 7th that authorizes the company to repurchase $750.00 million in shares. This repurchase authorization authorizes the company to buy up to 10.8% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on JXN shares. Barclays lifted their price objective on shares of Jackson Financial from $109.00 to $111.00 and gave the company an “overweight” rating in a research report on Tuesday, October 8th. Keefe, Bruyette & Woods upped their price objective on Jackson Financial from $80.00 to $82.00 and gave the company a “market perform” rating in a research note on Wednesday, August 14th. Morgan Stanley lifted their target price on Jackson Financial from $86.00 to $89.00 and gave the stock an “equal weight” rating in a research note on Monday, August 19th. Finally, Jefferies Financial Group increased their price target on Jackson Financial from $73.00 to $80.00 and gave the company a “hold” rating in a research note on Monday, July 29th. Five equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, Jackson Financial presently has a consensus rating of “Hold” and an average target price of $80.33.

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.