Jackson Financial (NYSE:JXN) Sets New 12-Month High After Strong Earnings

Shares of Jackson Financial Inc. (NYSE:JXN) hit a new 52-week high on Tuesday following a better than expected earnings announcement. The stock traded as high as $142.56 and last traded at $142.8360, with a volume of 246,931 shares trading hands. The stock had previously closed at $137.64.

The company reported $7.55 EPS for the quarter, topping analysts’ consensus estimates of $7.24 by $0.31. Jackson Financial had a return on equity of 19.81% and a net margin of 13.41%. The company had revenue of $2.07 billion for the quarter, compared to analysts’ expectations of $2.07 billion.

Jackson Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 17th. Shareholders of record on Thursday, December 3rd will be paid a dividend of $0.90 per share. This represents a $3.60 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date is Thursday, December 3rd. Jackson Financial’s dividend payout ratio (DPR) is 507.04%.

Wall Street Analysts Forecast Growth

JXN has been the subject of several research analyst reports. Weiss Ratings reissued a “hold (c)” rating on shares of Jackson Financial in a report on Monday. Evercore set a $135.00 price objective on shares of Jackson Financial in a research report on Wednesday, August 5th. Barclays boosted their price target on Jackson Financial from $151.00 to $154.00 and gave the stock an “overweight” rating in a research report on Wednesday. Wall Street Zen upgraded Jackson Financial from a “hold” rating to a “buy” rating in a research report on Saturday, August 8th. Finally, Jefferies Financial Group raised Jackson Financial from a “hold” rating to a “buy” rating and lifted their target price for the stock from $120.00 to $140.00 in a report on Friday, July 10th. Two analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $134.80.

Insider Activity

In other news, CEO Christopher Raub sold 5,000 shares of the stock in a transaction on Wednesday, August 12th. The stock was sold at an average price of $130.69, for a total transaction of $653,450.00. Following the completion of the sale, 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. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 1.40% of the company’s stock.

Hedge Funds Weigh In On Jackson Financial

A number of hedge funds have recently modified their holdings of the stock. Maryland State Retirement & Pension System lifted its holdings in shares of Jackson Financial by 36.8% during the third quarter. Maryland State Retirement & Pension System now owns 13,877 shares of the company’s stock valued at $1,795,000 after purchasing an additional 3,733 shares during the last quarter. Advisor Resource Council purchased a new position in Jackson Financial in the 3rd quarter worth about $219,000. Lido Advisors LLC purchased a new position in Jackson Financial in the 3rd quarter worth about $224,000. Keybank National Association OH acquired a new stake in Jackson Financial during the 3rd quarter worth about $249,000. Finally, New York Life Investment Management LLC raised its holdings in Jackson Financial by 13.6% during the 3rd quarter. New York Life Investment Management LLC now owns 9,956 shares of the company’s stock worth $1,288,000 after buying an additional 1,191 shares during the period. 89.96% of the stock is currently owned by institutional investors and hedge funds.

Jackson Financial Trading Down 3.3%

The company has a current ratio of 0.26, a quick ratio of 0.26 and a debt-to-equity ratio of 0.53. The stock has a market cap of $8.99 billion, a price-to-earnings ratio of 10.92 and a beta of 1.34. The company has a fifty day simple moving average of $133.50 and a 200-day simple moving average of $118.53.

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.