Jackson Financial Q2 net income falls
Overview
Jackson Financial net income for Q2 declines, reflecting lower fee income from variable annuities
Adjusted operating earnings for Q2 fall, impacted by reduced variable annuity AUM
Q2 retail annuity sales rise 4% yr/yr, driven by product demand
Result Drivers
RETAIL ANNUITY SALES - Increased by 4% due to strong demand across diversified product portfolio
VARIABLE ANNUITY DECLINE - Sales fell due to lower demand for products with lifetime benefits
FIXED ANNUITY GROWTH - Significant increase in sales driven by enhanced capabilities at PPM America
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q2 EPS | $2.34 | ||
Q2 Net Income | $168 mln | ||
Q2 Adjusted Operating Earnings | $350 mln |
Analyst Coverage
The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 1 "strong buy" or "buy", 3 "hold" and 1 "sell" or "strong sell"
The average consensus recommendation for the multiline insurance & brokers peer group is "buy."
Wall Street's median 12-month price target for Jackson Financial Inc is $95.00, about 10.9% above its August 4 closing price of $84.65
The stock recently traded at 4 times the next 12-month earnings vs. a P/E of 4 three months ago
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