Jackson Financial (NYSE:JXN) Announces Earnings Results

Jackson Financial (NYSE:JXN) posted its quarterly earnings data on Tuesday. The company reported $6.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.23 by $0.93, Zacks reports. Jackson Financial had a net margin of 1.73% and a return on equity of 14.73%. During the same quarter in the prior year, the firm earned $4.60 earnings per share. Jackson Financial’s quarterly revenue was down 33.2% on a year-over-year basis.

Jackson Financial Stock Up 1.2%

Shares of Jackson Financial stock traded up $1.16 on Tuesday, reaching $100.79. The company’s stock had a trading volume of 728,658 shares, compared to its average volume of 426,585. The company has a market capitalization of $7.02 billion, a price-to-earnings ratio of 5.18 and a beta of 1.45. The firm’s fifty day simple moving average is $98.87 and its two-hundred day simple moving average is $90.55. Jackson Financial has a 52 week low of $64.70 and a 52 week high of $115.22. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.46.

Hedge Funds Weigh In On Jackson Financial

A number of hedge funds have recently bought and sold shares of the business. Orion Porfolio Solutions LLC raised its position in Jackson Financial by 11.9% in the 2nd quarter. Orion Porfolio Solutions LLC now owns 7,873 shares of the company’s stock worth $699,000 after buying an additional 835 shares during the last quarter. State of Wyoming bought a new position in Jackson Financial during the second quarter valued at approximately $189,000. Geneos Wealth Management Inc. lifted its position in Jackson Financial by 81.9% during the second quarter. Geneos Wealth Management Inc. now owns 1,333 shares of the company’s stock valued at $118,000 after purchasing an additional 600 shares during the period. Public Sector Pension Investment Board lifted its position in Jackson Financial by 4.2% during the second quarter. Public Sector Pension Investment Board now owns 276,030 shares of the company’s stock valued at $24,509,000 after purchasing an additional 11,230 shares during the period. Finally, Tower Research Capital LLC TRC lifted its position in Jackson Financial by 14.3% during the second quarter. Tower Research Capital LLC TRC now owns 10,304 shares of the company’s stock valued at $915,000 after purchasing an additional 1,291 shares during the period. Hedge funds and other institutional investors own 89.96% of the company’s stock.

Analyst Ratings Changes

Several research analysts have commented on the stock. Barclays raised their price target on shares of Jackson Financial from $118.00 to $125.00 and gave the company an “overweight” rating in a report on Wednesday, October 8th. Keefe, Bruyette & Woods raised their price objective on shares of Jackson Financial from $105.00 to $110.00 and gave the company a “market perform” rating in a research report on Thursday, October 9th. Morgan Stanley upped their target price on Jackson Financial from $97.00 to $106.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 7th. Zacks Research raised shares of Jackson Financial from a “hold” rating to a “strong-buy” rating in a report on Monday, October 13th. Finally, Evercore ISI lifted their price objective on Jackson Financial from $100.00 to $110.00 and gave the stock an “underperform” rating in a report on Thursday, October 9th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $109.20.

Jackson Financial declared that its Board of Directors has initiated a share buyback program on Thursday, September 18th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the company to buy up to 14.4% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board of directors believes its stock is undervalued.

About Jackson Financial

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.