Jackson Financial (NYSE:JXN) Sets New 1-Year High on Earnings Beat

Shares of Jackson Financial Inc. (NYSE:JXN) reached a new 52-week high during mid-day trading on Thursday following a better than expected earnings announcement. The stock traded as high as $81.52 and last traded at $81.18, with a volume of 92191 shares traded. The stock had previously closed at $73.41.

The company reported $4.23 EPS for the quarter, beating analysts’ consensus estimates of $3.67 by $0.56. The firm had revenue of $2 billion during the quarter, compared to the consensus estimate of $1.67 billion. Jackson Financial’s revenue was up 5.8% compared to the same quarter last year. During the same quarter last year, the business posted $3.15 earnings per share.

Jackson Financial Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 21st. Shareholders of record on Tuesday, March 12th were issued a $0.70 dividend. The ex-dividend date of this dividend was Monday, March 11th. This represents a $2.80 annualized dividend and a dividend yield of 3.56%. This is a boost from Jackson Financial’s previous quarterly dividend of $0.62. Jackson Financial’s dividend payout ratio (DPR) is presently 28.54%.

Analysts Set New Price Targets

A number of research firms have weighed in on JXN. Keefe, Bruyette & Woods raised their price target on Jackson Financial from $68.00 to $75.00 and gave the company an “outperform” rating in a research report on Wednesday, April 10th. Evercore ISI boosted their price target on shares of Jackson Financial from $55.00 to $62.00 and gave the company an “in-line” rating in a research report on Thursday, April 11th. Finally, Morgan Stanley increased their price objective on Jackson Financial from $52.00 to $70.00 and gave the stock an “equal weight” rating in a report on Monday, April 15th. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $61.80.

Insiders Place Their Bets

In other Jackson Financial news, Director Derek G. Kirkland purchased 3,500 shares of the stock in a transaction dated Monday, March 4th. The shares were purchased at an average cost of $55.67 per share, with a total value of $194,845.00. Following the completion of the acquisition, the director now directly owns 37,726 shares in the company, valued at approximately $2,100,206.42. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 1.30% of the company’s stock.

Institutional Investors Weigh In On Jackson Financial

Large investors have recently added to or reduced their stakes in the stock. Xponance Inc. purchased a new position in Jackson Financial during the third quarter valued at $280,000. Raymond James Financial Services Advisors Inc. boosted its stake in Jackson Financial by 3.7% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 53,402 shares of the company’s stock worth $2,041,000 after buying an additional 1,917 shares during the period. Bank of New York Mellon Corp raised its position in Jackson Financial by 38.9% in the 3rd quarter. Bank of New York Mellon Corp now owns 1,129,288 shares of the company’s stock worth $43,161,000 after purchasing an additional 316,158 shares during the period. New York State Teachers Retirement System raised its holdings in shares of Jackson Financial by 865.5% in the third quarter. New York State Teachers Retirement System now owns 56,730 shares of the company’s stock worth $2,168,000 after buying an additional 50,854 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Jackson Financial by 21.8% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,200 shares of the company’s stock worth $543,000 after purchasing an additional 2,539 shares during the last quarter. Institutional investors own 89.96% of the company’s stock.

Jackson Financial Stock Up 7.1 %

The company has a market cap of $6.09 billion, a P/E ratio of 8.01 and a beta of 1.54. The business’s fifty day moving average is $65.34 and its two-hundred day moving average is $54.11. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.33 and a current ratio of 0.33.

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.