Jackson Financial (NYSE:JXN) Releases Earnings Results, Beats Expectations By $0.31 EPS

Jackson Financial (NYSE:JXN) released its earnings results on Tuesday. The company reported $7.55 earnings per share for the quarter, beating analysts’ consensus estimates of $7.24 by $0.31, FiscalAI reports. The company had revenue of $2.07 billion during the quarter, compared to analyst estimates of $2.07 billion. Jackson Financial had a return on equity of 18.93% and a net margin of 1.59%.

Jackson Financial Trading Up 2.3%

Shares of NYSE:JXN traded up $3.14 during midday trading on Tuesday, hitting $140.78. 1,159,558 shares of the stock traded hands, compared to its average volume of 656,292. The stock has a market capitalization of $9.54 billion, a PE ratio of 198.29 and a beta of 1.31. The business’s 50 day moving average is $133.22 and its two-hundred day moving average is $118.18. The company has a quick ratio of 0.26, a current ratio of 0.26 and a debt-to-equity ratio of 0.53. Jackson Financial has a one year low of $89.67 and a one year high of $143.27.

Insider Transactions at Jackson Financial

In related news, EVP Carrie Chelko sold 7,500 shares of the firm’s stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $134.24, for a total value of $1,006,800.00. Following the sale, the executive vice president directly owned 80,914 shares of the company’s stock, valued at $10,861,895.36. This trade represents a 8.48% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Christopher Raub sold 5,000 shares of the business’s stock in a transaction dated Wednesday, August 12th. The shares were sold at an average price of $130.69, for a total value of $653,450.00. Following the transaction, the chief executive officer owned 42,160 shares in the company, valued at approximately $5,509,890.40. This represents a 10.60% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 1.40% of the company’s stock.

Analysts Set New Price Targets

JXN has been the topic of several recent research reports. Wall Street Zen upgraded Jackson Financial from a “hold” rating to a “buy” rating in a research report on Saturday, August 8th. Jefferies Financial Group upgraded Jackson Financial from a “hold” rating to a “buy” rating and boosted their price objective for the company from $120.00 to $140.00 in a research report on Friday, July 10th. Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $140.00 price objective on shares of Jackson Financial in a research report on Friday, September 18th. Evercore set a $135.00 price objective on Jackson Financial in a research note on Wednesday, August 5th. Finally, Barclays set a $151.00 target price on shares of Jackson Financial in a report on Thursday, October 8th. Two analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $134.20.

About Jackson Financial

Jackson Financial Inc is a U.S.-based financial services company focused on helping individuals and institutions pursue retirement security. Through its operating subsidiaries, the company develops and distributes annuity products designed to provide income, investment growth opportunities and protection against certain retirement-related risks.

Jackson’s offerings include variable annuities, fixed annuities and fixed-indexed annuities, along with related retirement planning solutions.