Jackson Financial (NYSE:JXN) Releases Quarterly Earnings Results, Beats Expectations By $0.71 EPS

Jackson Financial (NYSE:JXN) posted its earnings results on Wednesday. The company reported $6.61 EPS for the quarter, beating analysts’ consensus estimates of $5.90 by $0.71, FiscalAI reports.

Jackson Financial Trading Up 0.8%

Shares of JXN stock traded up $0.98 during trading hours on Wednesday, reaching $116.76. 953,066 shares of the stock were exchanged, compared to its average volume of 547,518. The firm has a market capitalization of $7.94 billion, a price-to-earnings ratio of 16.15 and a beta of 1.45. Jackson Financial has a 12-month low of $64.70 and a 12-month high of $123.61. The company’s 50-day moving average price is $112.37 and its 200-day moving average price is $102.39. The company has a current ratio of 0.27, a quick ratio of 0.27 and a debt-to-equity ratio of 0.47.

Analyst Upgrades and Downgrades

JXN has been the topic of a number of recent research reports. Evercore set a $118.00 price target on shares of Jackson Financial and gave the company an “in-line” rating in a research note on Tuesday, January 6th. Morgan Stanley set a $105.00 target price on shares of Jackson Financial in a research report on Monday, December 15th. Barclays reiterated an “overweight” rating and issued a $137.00 price target on shares of Jackson Financial in a research report on Thursday, January 8th. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Jackson Financial in a research report on Monday, December 29th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and five have given a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $113.00.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Integrated Wealth Concepts LLC lifted its stake in shares of Jackson Financial by 33.2% during the 1st quarter. Integrated Wealth Concepts LLC now owns 5,471 shares of the company’s stock worth $458,000 after acquiring an additional 1,363 shares during the last quarter. Woodline Partners LP purchased a new stake in Jackson Financial in the first quarter worth $4,081,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in Jackson Financial by 3.6% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 210,836 shares of the company’s stock worth $17,664,000 after purchasing an additional 7,380 shares during the period. EverSource Wealth Advisors LLC lifted its position in shares of Jackson Financial by 55.5% during the second quarter. EverSource Wealth Advisors LLC now owns 911 shares of the company’s stock worth $81,000 after purchasing an additional 325 shares during the last quarter. Finally, Marshall Wace LLP purchased a new stake in shares of Jackson Financial during the second quarter valued at $986,000. Institutional investors own 89.96% of the company’s stock.

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.