Jackson Financial (NYSE:JXN) Shares Up 9.1% Following Earnings Beat

Jackson Financial Inc. (NYSE:JXN) shot up 9.1% during trading on Wednesday after the company announced better than expected quarterly earnings. The stock traded as high as $94.48 and last traded at $94.29. 347,432 shares traded hands during mid-day trading, a decline of 55% from the average session volume of 769,064 shares. The stock had previously closed at $86.46.

The company reported $4.87 EPS for the quarter, beating analysts’ consensus estimates of $4.61 by $0.26. Jackson Financial had a return on equity of 14.78% and a net margin of 1.73%. The company had revenue of ($471.00) million during the quarter, compared to analyst estimates of $1.77 billion. During the same period in the prior year, the company earned $5.32 earnings per share. The firm’s revenue was down 3.3% on a year-over-year basis.

Jackson Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 25th. Shareholders of record on Monday, September 15th will be given a dividend of $0.80 per share. The ex-dividend date is Monday, September 15th. This represents a $3.20 dividend on an annualized basis and a yield of 3.5%. Jackson Financial’s dividend payout ratio is 310.68%.

Analyst Ratings Changes

A number of brokerages have issued reports on JXN. Barclays upped their price objective on Jackson Financial from $108.00 to $114.00 and gave the company an “overweight” rating in a research report on Monday, July 7th. Morgan Stanley set a $91.00 price objective on Jackson Financial and gave the company an “equal weight” rating in a research report on Monday, May 19th. Finally, Keefe, Bruyette & Woods upped their price objective on Jackson Financial from $100.00 to $102.00 and gave the company a “market perform” rating in a research report on Wednesday, July 9th.

Institutional Investors Weigh In On Jackson Financial

Hedge funds and other institutional investors have recently modified their holdings of the business. Quarry LP purchased a new stake in shares of Jackson Financial in the fourth quarter worth approximately $28,000. NBC Securities Inc. purchased a new stake in shares of Jackson Financial in the first quarter worth approximately $37,000. Brooklyn Investment Group raised its holdings in shares of Jackson Financial by 987.0% in the first quarter. Brooklyn Investment Group now owns 500 shares of the company’s stock worth $42,000 after buying an additional 454 shares during the period. Sound Income Strategies LLC raised its holdings in shares of Jackson Financial by 1,342.9% in the second quarter. Sound Income Strategies LLC now owns 505 shares of the company’s stock worth $45,000 after buying an additional 470 shares during the period. Finally, Versant Capital Management Inc raised its holdings in shares of Jackson Financial by 161.9% in the first quarter. Versant Capital Management Inc now owns 550 shares of the company’s stock worth $46,000 after buying an additional 340 shares during the period. 89.96% of the stock is currently owned by hedge funds and other institutional investors.

Jackson Financial Stock Performance

The company has a debt-to-equity ratio of 0.43, a current ratio of 0.29 and a quick ratio of 0.29. The firm has a fifty day moving average price of $86.23 and a two-hundred day moving average price of $84.91. The stock has a market capitalization of $6.62 billion, a PE ratio of -1,544.83 and a beta of 1.46.

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.