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

Jackson Financial (NYSE:JXN) issued its quarterly earnings results on Wednesday. The company reported $4.65 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.72 by ($0.07), Zacks reports. The company had revenue of $1.81 billion for the quarter, compared to the consensus estimate of $1.81 billion.

Jackson Financial Stock Down 3.3 %

JXN stock traded down $2.79 during trading on Friday, hitting $82.61. 385,005 shares of the stock traded hands, compared to its average volume of 554,956. Jackson Financial has a 1 year low of $48.00 and a 1 year high of $115.22. The firm’s 50 day moving average is $91.13 and its two-hundred day moving average is $92.57. The stock has a market cap of $6.10 billion, a price-to-earnings ratio of -6.54 and a beta of 1.47. 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 Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Tuesday, March 11th will be given a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a yield of 3.87%. This is an increase from Jackson Financial’s previous quarterly dividend of $0.70. The ex-dividend date of this dividend is Tuesday, March 11th. Jackson Financial’s dividend payout ratio is -22.15%.

Insider Activity at Jackson Financial

In related news, Director Gregory T. Durant purchased 1,500 shares of the company’s stock in a transaction dated Wednesday, December 11th. The shares were purchased at an average price of $90.28 per share, with a total value of $135,420.00. Following the acquisition, the director now directly owns 32,023 shares in the company, valued at $2,891,036.44. The trade was a 4.91 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.30% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. Evercore ISI lowered shares of Jackson Financial from an “in-line” rating to an “underperform” rating and increased their price target for the stock from $74.00 to $95.00 in a research note on Thursday, November 14th. Barclays increased their price objective on shares of Jackson Financial from $116.00 to $118.00 and gave the company an “overweight” rating in a research report on Thursday. One investment analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, Jackson Financial has an average rating of “Hold” and an average price target of $92.80.

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.