Jackson Financial (NYSE:JXN) Releases Earnings Results, Misses Estimates By $0.06 EPS

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

Jackson Financial Stock Performance

Shares of JXN opened at $110.99 on Friday. Jackson Financial has a 52 week low of $38.69 and a 52 week high of $115.09. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.30 and a current ratio of 0.30. The stock has a 50 day moving average price of $93.64 and a two-hundred day moving average price of $83.00. The firm has a market capitalization of $8.35 billion, a P/E ratio of 4.10 and a beta of 1.48.

Jackson Financial Announces Dividend

The company 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. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.52%. The ex-dividend date of this dividend is Thursday, December 5th. Jackson Financial’s payout ratio is 10.34%.

Analyst Upgrades and Downgrades

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

Jackson Financial announced that its board has approved a stock repurchase program on Wednesday, August 7th that allows the company to buyback $750.00 million in shares. This buyback authorization allows the company to repurchase up to 10.8% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s board of directors believes its stock is undervalued.

Insider Activity at Jackson Financial

In related news, EVP Carrie Chelko sold 5,500 shares of the company’s stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $91.31, for a total transaction of $502,205.00. Following the completion of the sale, the executive vice president now owns 61,829 shares in the company, valued at approximately $5,645,605.99. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 1.30% of the stock is owned by insiders.

About Jackson Financial

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.