Jackson Financial Inc. (NYSE:JXN – Get Free Report) shares hit a new 52-week high during trading on Tuesday following a stronger than expected earnings report. The stock traded as high as $142.56 and last traded at $142.8360, with a volume of 246,931 shares. The stock had previously closed at $137.64.
The company reported $7.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $7.24 by $0.31. The business had revenue of $2.07 billion during the quarter, compared to analyst estimates of $2.07 billion. Jackson Financial had a net margin of 13.41% and a return on equity of 19.81%.
Jackson Financial Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Thursday, December 17th. Shareholders of record on Thursday, December 3rd will be given a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date is Thursday, December 3rd. Jackson Financial’s payout ratio is 507.04%.
Wall Street Analyst Weigh In
A number of equities analysts recently commented on the company. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $140.00 price objective on shares of Jackson Financial in a research note on Friday, September 18th. Evercore set a $135.00 price target on shares of Jackson Financial in a report on Wednesday, August 5th. Wall Street Zen upgraded shares of Jackson Financial from a “hold” rating to a “buy” rating in a report on Saturday, August 8th. Jefferies Financial Group upgraded shares of Jackson Financial from a “hold” rating to a “buy” rating and boosted their price target for the stock from $120.00 to $140.00 in a research report on Friday, July 10th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Jackson Financial in a research note on Monday. Two investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $134.80.
Get Our Latest Research Report on JXN
Insider Activity
In related news, CEO Christopher Raub sold 5,000 shares of the company’s stock in a transaction dated Wednesday, August 12th. The stock was sold at an average price of $130.69, for a total transaction of $653,450.00. Following the sale, the chief executive officer owned 42,160 shares in the company, valued at $5,509,890.40. This represents a 10.60% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.40% of the stock is owned by corporate insiders.
Institutional Investors Weigh In On Jackson Financial
Hedge funds have recently added to or reduced their stakes in the business. Triumph Capital Management boosted its holdings in shares of Jackson Financial by 3.6% during the 3rd quarter. Triumph Capital Management now owns 2,846 shares of the company’s stock worth $368,000 after buying an additional 100 shares in the last quarter. Allworth Financial LP lifted its position in shares of Jackson Financial by 22.7% during the 2nd quarter. Allworth Financial LP now owns 573 shares of the company’s stock valued at $59,000 after acquiring an additional 106 shares during the period. Root Financial Partners LLC lifted its position in shares of Jackson Financial by 46.4% during the 1st quarter. Root Financial Partners LLC now owns 401 shares of the company’s stock valued at $42,000 after acquiring an additional 127 shares during the period. Geneos Wealth Management Inc. lifted its position in shares of Jackson Financial by 7.4% during the 1st quarter. Geneos Wealth Management Inc. now owns 1,906 shares of the company’s stock valued at $201,000 after acquiring an additional 132 shares during the period. Finally, Inspire Investing LLC boosted its stake in Jackson Financial by 3.4% during the third quarter. Inspire Investing LLC now owns 4,116 shares of the company’s stock worth $532,000 after acquiring an additional 135 shares in the last quarter. 89.96% of the stock is currently owned by institutional investors.
Jackson Financial Stock Performance
The company has a quick ratio of 0.26, a current ratio of 0.26 and a debt-to-equity ratio of 0.53. The firm has a market capitalization of $8.99 billion, a P/E ratio of 10.92 and a beta of 1.34. The company’s 50 day moving average is $133.50 and its 200-day moving average is $118.53.
Jackson Financial Company Profile
Jackson Financial Inc is a U.S.-based financial services company focused on helping individuals and institutions pursue retirement security. Through its operating subsidiaries, the company develops and distributes annuity products designed to provide income, investment growth opportunities and protection against certain retirement-related risks.
Jackson’s offerings include variable annuities, fixed annuities and fixed-indexed annuities, along with related retirement planning solutions.
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