Jackson Financial (NYSE:JXN) Sets New 12-Month High on Strong Earnings

Jackson Financial Inc. (NYSE:JXN) hit a new 52-week high during trading on Tuesday following a stronger than expected earnings report. The company traded as high as $137.99 and last traded at $133.4180, with a volume of 62281 shares changing hands. The stock had previously closed at $126.17.

The company reported $7.30 earnings per share for the quarter, beating the consensus estimate of $5.72 by $1.58. The firm had revenue of $2 billion for the quarter, compared to analysts’ expectations of $1.91 billion.

Jackson Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 24th. Shareholders of record on Tuesday, September 15th will be given a $0.90 dividend. The ex-dividend date is Tuesday, September 15th. This represents a $3.60 dividend on an annualized basis and a dividend yield of 2.8%. Jackson Financial’s dividend payout ratio is -58.92%.

Wall Street Analysts Forecast Growth

JXN has been the topic of a number of analyst reports. Wall Street Zen cut Jackson Financial from a “buy” rating to a “hold” rating in a research report on Saturday, April 11th. Keefe, Bruyette & Woods upped their price target on Jackson Financial from $125.00 to $130.00 and gave the stock a “market perform” rating in a report on Monday, July 13th. Barclays increased their price target on Jackson Financial from $139.00 to $149.00 and gave the stock an “overweight” rating in a research report on Tuesday. Jefferies Financial Group raised Jackson Financial from a “hold” rating to a “buy” rating and raised their price objective for the company from $120.00 to $140.00 in a report on Friday, July 10th. Finally, Weiss Ratings cut Jackson Financial from a “hold (c)” rating to a “hold (c-)” rating in a research report on Tuesday, May 12th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $128.40.

Institutional Investors Weigh In On Jackson Financial

A number of large investors have recently modified their holdings of the business. Allworth Financial LP boosted its position in Jackson Financial by 404.0% during the third quarter. Allworth Financial LP now owns 252 shares of the company’s stock worth $26,000 after acquiring an additional 202 shares during the last quarter. Rothschild Investment LLC raised its holdings in Jackson Financial by 79.9% in the 4th quarter. Rothschild Investment LLC now owns 322 shares of the company’s stock valued at $34,000 after acquiring an additional 143 shares during the last quarter. Plato Investment Management Ltd acquired a new stake in Jackson Financial in the 4th quarter valued at about $35,000. Advisory Services Network LLC purchased a new position in Jackson Financial in the 3rd quarter worth approximately $37,000. Finally, Signature Equity Partners LLC purchased a new position in Jackson Financial in the 1st quarter worth approximately $38,000. Hedge funds and other institutional investors own 89.96% of the company’s stock.

Jackson Financial Price Performance

The firm has a market capitalization of $9.12 billion, a PE ratio of -21.44 and a beta of 1.30. The stock’s 50 day simple moving average is $111.97 and its two-hundred day simple moving average is $111.08. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.27 and a current ratio of 0.27.

About Jackson Financial

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.