Jackson Financial (NYSE:JXN) Reaches New 52-Week High Following Earnings Beat

Jackson Financial Inc. (NYSE:JXN) shares hit a new 52-week high 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, beating the consensus estimate of $3.67 by $0.56. The firm had revenue of $2 billion during the quarter, compared to analysts’ expectations of $1.67 billion. The business’s revenue for the quarter was up 5.8% on a year-over-year basis. During the same period in the previous year, the business earned $3.15 earnings per share.

Jackson Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 21st. Investors of record on Tuesday, March 12th were given a dividend of $0.70 per share. This is an increase from Jackson Financial’s previous quarterly dividend of $0.62. This represents a $2.80 annualized dividend and a dividend yield of 3.56%. The ex-dividend date was Monday, March 11th. Jackson Financial’s payout ratio is currently 28.54%.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on JXN shares. Evercore ISI boosted their target price on shares of Jackson Financial from $55.00 to $62.00 and gave the company an “in-line” rating in a research note on Thursday, April 11th. Keefe, Bruyette & Woods increased their target price on Jackson Financial from $68.00 to $75.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 10th. Finally, Morgan Stanley lifted their price target on shares of Jackson Financial from $52.00 to $70.00 and gave the company an “equal weight” rating in a research report on Monday, April 15th. Four research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $61.80.

Insider Buying and Selling at Jackson Financial

In related news, Director Derek G. Kirkland purchased 3,500 shares of the firm’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 transaction, the director now owns 37,726 shares of the company’s stock, valued at $2,100,206.42. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 1.30% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the company. Hsbc Holdings PLC grew its position in shares of Jackson Financial by 45,699.9% during the third quarter. Hsbc Holdings PLC now owns 3,241,261 shares of the company’s stock worth $124,043,000 after acquiring an additional 3,234,184 shares during the last quarter. Vanguard Group Inc. raised its position in Jackson Financial by 16.1% during the third quarter. Vanguard Group Inc. now owns 10,933,228 shares of the company’s stock valued at $417,868,000 after buying an additional 1,518,547 shares during the period. Norges Bank acquired a new position in shares of Jackson Financial in the 4th quarter valued at about $51,189,000. Donald Smith & CO. Inc. increased its stake in Jackson Financial by 36.5% in the 4th quarter. Donald Smith & CO. Inc. now owns 1,979,189 shares of the company’s stock valued at $101,334,000 after buying an additional 528,976 shares during the period. Finally, Jupiter Asset Management Ltd. purchased a new stake in shares of Jackson Financial during the third quarter worth $19,485,000. Institutional investors own 89.96% of the company’s stock.

Jackson Financial Price Performance

The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.33 and a current ratio of 0.33. The company has a market capitalization of $6.09 billion, a PE ratio of 8.01 and a beta of 1.54. The stock has a 50 day moving average price of $65.34 and a two-hundred day moving average price of $54.11.

Jackson Financial Company Profile

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.