Jackson Financial (NYSE:JXN) Posts Earnings Results, Misses Estimates By $0.06 EPS

Jackson Financial (NYSE:JXN) issued its earnings results on Wednesday. The company reported $4.60 earnings per share for the quarter, missing the consensus estimate of $4.66 by ($0.06), Briefing.com reports. The firm had revenue of $2.12 billion for the quarter, compared to analyst estimates of $1.73 billion. During the same quarter in the prior year, the business posted $3.80 EPS.

Jackson Financial Price Performance

Shares of NYSE:JXN traded down $2.75 during midday trading on Thursday, reaching $110.99. The company’s stock had a trading volume of 1,126,106 shares, compared to its average volume of 736,287. The business’s fifty day simple moving average is $93.17 and its 200-day simple moving average is $82.81. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.30 and a quick ratio of 0.30. Jackson Financial has a fifty-two week low of $38.69 and a fifty-two week high of $115.09. The company has a market capitalization of $8.35 billion, a P/E ratio of 4.20 and a beta of 1.48.

Insider Buying and Selling

In other Jackson Financial news, EVP Carrie Chelko sold 5,500 shares of the business’s stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $91.31, for a total value of $502,205.00. Following the completion of the transaction, the executive vice president now directly owns 61,829 shares of the company’s stock, valued at approximately $5,645,605.99. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 1.30% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

JXN has been the subject of a number of analyst reports. Keefe, Bruyette & Woods raised their price target on shares of Jackson Financial from $80.00 to $82.00 and gave the stock a “market perform” rating in a research note on Wednesday, August 14th. Barclays raised their target price on Jackson Financial from $109.00 to $111.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 8th. Jefferies Financial Group increased their price objective on Jackson Financial from $73.00 to $80.00 and gave the stock a “hold” rating in a research note on Monday, July 29th. Finally, Morgan Stanley boosted their target price on shares of Jackson Financial from $86.00 to $89.00 and gave the company an “equal weight” rating in a research note on Monday, August 19th. Five research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $80.33.

Jackson Financial announced that its Board of Directors has approved a stock repurchase program on Wednesday, August 7th that allows the company to buyback $750.00 million in outstanding shares. This buyback authorization allows the company to buy up to 10.8% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its shares are undervalued.

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.