Jackson Financial (NYSE:JXN) Hits New 1-Year High Following Earnings Beat

Jackson Financial Inc. (NYSE:JXNGet Free Report)’s share price reached a new 52-week high during trading on Thursday after the company announced better than expected quarterly earnings. The company traded as high as $81.52 and last traded at $81.18, with a volume of 92191 shares changing hands. The stock had previously closed at $73.41.

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

Jackson Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 20th. Stockholders of record on Thursday, June 6th will be issued a $0.70 dividend. The ex-dividend date of this dividend is Thursday, June 6th. This represents a $2.80 annualized dividend and a dividend yield of 3.70%. Jackson Financial’s dividend payout ratio (DPR) is presently 28.54%.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on JXN. Keefe, Bruyette & Woods lifted 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. Morgan Stanley boosted their target price on shares of Jackson Financial from $52.00 to $70.00 and gave the company an “equal weight” rating in a research note on Monday, April 15th. Finally, Evercore ISI raised 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. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, Jackson Financial currently has an average rating of “Hold” and an average price target of $61.80.

Get Our Latest Analysis on JXN

Insider Transactions at Jackson Financial

In related news, Director Derek G. Kirkland bought 3,500 shares of the business’s stock in a transaction dated Monday, March 4th. The stock was acquired at an average price of $55.67 per share, with a total value of $194,845.00. Following the completion of the purchase, the director now directly owns 37,726 shares of the company’s stock, valued at $2,100,206.42. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 1.30% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. GAMMA Investing LLC boosted its holdings in shares of Jackson Financial by 47.0% during the 1st quarter. GAMMA Investing LLC now owns 482 shares of the company’s stock worth $32,000 after purchasing an additional 154 shares during the last quarter. Hexagon Capital Partners LLC boosted its holdings in shares of Jackson Financial by 18.1% during the 1st quarter. Hexagon Capital Partners LLC now owns 1,532 shares of the company’s stock worth $101,000 after purchasing an additional 235 shares during the last quarter. Asset Allocation Strategies LLC boosted its holdings in shares of Jackson Financial by 1.4% during the 4th quarter. Asset Allocation Strategies LLC now owns 17,310 shares of the company’s stock worth $886,000 after purchasing an additional 242 shares during the last quarter. Nomura Asset Management Co. Ltd. boosted its holdings in shares of Jackson Financial by 18.0% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 1,640 shares of the company’s stock worth $84,000 after purchasing an additional 250 shares during the last quarter. Finally, Private Trust Co. NA boosted its holdings in shares of Jackson Financial by 10.2% during the 4th quarter. Private Trust Co. NA now owns 3,156 shares of the company’s stock worth $162,000 after purchasing an additional 292 shares during the last quarter. 89.96% of the stock is currently owned by institutional investors and hedge funds.

Jackson Financial Trading Down 3.9 %

The firm has a market capitalization of $5.85 billion, a price-to-earnings ratio of 7.71 and a beta of 1.54. The company has a fifty day moving average price of $65.72 and a two-hundred day moving average price of $54.36. The company has a current ratio of 0.33, a quick ratio of 0.33 and a debt-to-equity ratio of 0.41.

About Jackson Financial

(Get Free Report)

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.

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