Jackson Financial (NYSE:JXN) Posts Quarterly Earnings Results, Misses Estimates By $0.07 EPS

Jackson Financial (NYSE:JXN) released its quarterly earnings data on Wednesday. The company reported $4.60 EPS for the quarter, missing analysts’ consensus estimates of $4.67 by ($0.07), Briefing.com reports. The firm had revenue of $2.12 billion during the quarter, compared to analyst estimates of $1.73 billion. During the same quarter in the prior year, the firm posted $3.80 EPS.

Jackson Financial Trading Down 2.4 %

NYSE JXN opened at $108.29 on Friday. Jackson Financial has a 52-week low of $41.61 and a 52-week high of $115.09. The firm has a 50-day moving average price of $94.01 and a 200 day moving average price of $83.39. The stock has a market capitalization of $8.15 billion, a P/E ratio of -8.57 and a beta of 1.48. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.42.

Jackson Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Thursday, December 5th will be paid a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 2.59%. The ex-dividend date of this dividend is Thursday, December 5th. Jackson Financial’s dividend payout ratio (DPR) is presently -22.15%.

Analysts Set New Price Targets

A number of research analysts recently commented on JXN shares. Keefe, Bruyette & Woods increased their target price on shares of Jackson Financial from $80.00 to $82.00 and gave the company a “market perform” rating in a research report on Wednesday, August 14th. Morgan Stanley lifted their price target on Jackson Financial from $86.00 to $89.00 and gave the stock an “equal weight” rating in a research report on Monday, August 19th. Jefferies Financial Group raised their target price on shares of Jackson Financial from $73.00 to $80.00 and gave the stock a “hold” rating in a research report on Monday, July 29th. Finally, Barclays raised their price objective on shares of Jackson Financial from $109.00 to $111.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 8th. Five 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, the stock presently has an average rating of “Hold” and a consensus price target of $80.33.

Insiders Place Their Bets

In other news, EVP Carrie Chelko sold 5,500 shares of the firm’s stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $91.31, for a total value of $502,205.00. Following the completion of the sale, the executive vice president now directly owns 61,829 shares of the company’s stock, valued at $5,645,605.99. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.30% of the stock is currently owned by insiders.

Jackson Financial declared that its Board of Directors has initiated a share repurchase program on Wednesday, August 7th that permits the company to buyback $750.00 million in outstanding shares. This buyback authorization permits the company to purchase up to 10.8% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its stock is 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.