Zacks: Brokerages Anticipate Jackson Financial Inc. (NYSE:JXN) Will Announce Quarterly Sales of $1.65 Billion

Wall Street analysts expect Jackson Financial Inc. (NYSE:JXNGet Rating) to report $1.65 billion in sales for the current quarter, Zacks Investment Research reports. Two analysts have made estimates for Jackson Financial’s earnings, with the lowest sales estimate coming in at $1.62 billion and the highest estimate coming in at $1.67 billion. Jackson Financial posted sales of $231.90 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 611.5%. The company is scheduled to announce its next quarterly earnings report on Monday, January 1st.

According to Zacks, analysts expect that Jackson Financial will report full-year sales of $6.65 billion for the current year, with estimates ranging from $6.57 billion to $6.72 billion. For the next financial year, analysts anticipate that the company will post sales of $6.77 billion, with estimates ranging from $6.62 billion to $6.93 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that cover Jackson Financial.

Jackson Financial (NYSE:JXNGet Rating) last announced its earnings results on Tuesday, May 10th. The company reported $3.94 earnings per share for the quarter, missing analysts’ consensus estimates of $4.53 by ($0.59). Jackson Financial had a return on equity of 20.22% and a net margin of 29.79%. The business had revenue of $4.30 billion during the quarter, compared to analysts’ expectations of $1.80 billion.

Several equities analysts recently commented on the company. The Goldman Sachs Group upped their price objective on Jackson Financial from $41.00 to $47.00 and gave the company a “neutral” rating in a research note on Tuesday, April 5th. Jefferies Financial Group dropped their price objective on Jackson Financial from $55.00 to $45.00 in a research note on Monday, May 16th. Morgan Stanley upped their price objective on Jackson Financial from $40.00 to $42.00 and gave the company an “equal weight” rating in a research note on Thursday, March 3rd. Finally, Zacks Investment Research downgraded Jackson Financial from a “hold” rating to a “sell” rating in a research note on Thursday, May 19th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $41.50.

In other news, insider Paul Chadwick Myers purchased 8,000 shares of the firm’s stock in a transaction dated Monday, May 16th. The shares were purchased at an average price of $33.15 per share, with a total value of $265,200.00. Following the completion of the acquisition, the insider now owns 383,491 shares in the company, valued at approximately $12,712,726.65. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Also, major shareholder Dan Hagan sold 55,565 shares of the company’s stock in a transaction on Thursday, May 5th. The stock was sold at an average price of $43.57, for a total transaction of $2,420,967.05. Following the completion of the transaction, the insider now directly owns 4,944,435 shares in the company, valued at approximately $215,429,032.95. The disclosure for this sale can be found here. Insiders have acquired a total of 31,244 shares of company stock worth $978,498 in the last three months.

Several institutional investors have recently added to or reduced their stakes in JXN. Advisor Group Holdings Inc. bought a new position in shares of Jackson Financial in the third quarter worth $396,000. Principal Financial Group Inc. purchased a new position in Jackson Financial in the third quarter worth $3,617,000. BlackRock Inc. purchased a new position in Jackson Financial in the third quarter worth $76,744,000. Citigroup Inc. purchased a new position in Jackson Financial in the third quarter worth $1,154,000. Finally, Mitsubishi UFJ Trust & Banking Corp purchased a new position in Jackson Financial in the third quarter worth $1,194,000. 81.17% of the stock is currently owned by hedge funds and other institutional investors.

Jackson Financial stock opened at $36.24 on Friday. Jackson Financial has a 12 month low of $24.03 and a 12 month high of $47.76. The company has a current ratio of 0.34, a quick ratio of 0.34 and a debt-to-equity ratio of 0.26. The business’s 50 day simple moving average is $40.79 and its 200 day simple moving average is $39.90. The company has a market cap of $3.17 billion and a price-to-earnings ratio of 1.44.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 16th. Shareholders of record on Thursday, June 2nd will be issued a dividend of $0.55 per share. The ex-dividend date is Wednesday, June 1st. This represents a $2.20 dividend on an annualized basis and a yield of 6.07%. Jackson Financial’s payout ratio is 8.74%.

About Jackson Financial (Get Rating)

Jackson Financial Inc, through its subsidiaries, primarily provides a 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 immediate payout annuities, as well as registered index-linked annuities and lifetime income solutions.

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