Jackson Financial (NYSE:JXN) Releases Earnings Results, Misses Estimates By $0.91 EPS

Jackson Financial (NYSE:JXN – Get Rating) issued its earnings results on Tuesday. The company reported $3.94 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.85 by ($0.91), MarketWatch Earnings reports.

JXN stock opened at $37.23 on Wednesday. Jackson Financial has a 52-week low of $24.03 and a 52-week high of $47.76. The stock’s fifty day simple moving average is $42.68 and its 200-day simple moving average is $39.43. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.34 and a current ratio of 0.34.

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 23rd. Stockholders of record on Monday, March 14th were issued a dividend of $0.55 per share. This is a boost from Jackson Financial’s previous quarterly dividend of $0.50. The ex-dividend date of this dividend was Friday, March 11th. This represents a $2.20 annualized dividend and a dividend yield of 5.91%.

Several equities analysts recently weighed in on the company. Morgan Stanley raised their price objective on Jackson Financial from $40.00 to $42.00 and gave the company an “equal weight” rating in a research note on Thursday, March 3rd. The Goldman Sachs Group raised their price objective on Jackson Financial from $41.00 to $47.00 and gave the company a “neutral” rating in a research note on Tuesday, April 5th. Zacks Investment Research downgraded Jackson Financial from a “hold” rating to a “sell” rating in a research note on Tuesday, March 22nd. Finally, Jefferies Financial Group assumed coverage on Jackson Financial in a research note on Tuesday, January 25th. They issued a “buy” rating and a $52.00 price objective for the company. One analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $42.67.

In other news, major shareholder Dan Hagan sold 217,411 shares of the firm’s stock in a transaction on Monday, May 9th. The stock was sold at an average price of $40.02, for a total transaction of $8,700,788.22. Following the sale, the insider now owns 4,500,000 shares in the company, valued at $180,090,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

A number of large investors have recently added to or reduced their stakes in JXN. Geode Capital Management LLC purchased a new position in Jackson Financial in the third quarter valued at about $314,000. Invesco Ltd. purchased a new stake in shares of Jackson Financial during the third quarter worth about $925,000. Royal Bank of Canada purchased a new stake in shares of Jackson Financial during the third quarter worth about $890,000. Jane Street Group LLC purchased a new stake in shares of Jackson Financial during the third quarter worth about $1,011,000. Finally, Bank of New York Mellon Corp purchased a new stake in shares of Jackson Financial during the third quarter worth about $3,550,000. 81.17% of the stock is currently owned by institutional investors.

Jackson Financial Company Profile (Get Rating)

Jackson Financial Inc, through its subsidiaries, primarily provides a 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 immediate payout annuities, as well as registered index-linked annuities and lifetime income solutions.

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