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Jackson Financial Incorporation
(NYSE:JXN)
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Rating:60Neutral
Price Target:
$137.00
▲(4.08% Upside)
Action:Reiterated
Date:10/15/26
JXN scores as a moderate opportunity driven by solid cash generation and balance-sheet support, plus a notably positive earnings call with reaffirmed capital-generation and shareholder-return targets. Offsetting these strengths are weak and volatile profitability/returns in the financial statements and a very high P/E that makes valuation a key risk; technical signals are neutral with recent softness.
Positive Factors
Annuity growth and diversification
Strong growth in retail annuities, particularly RILAs, is expanding Jackson’s customer and product base while reducing reliance on a single annuity category. Greater spread-based and fixed-product penetration can support recurring earnings, account-value growth, and business resilience over coming quarters.
Negative Factors
Thin and volatile profitability
Low and volatile reported profitability makes earnings less dependable even when revenue and operating activity grow. Negative EBIT and EBITDA margins can constrain internally generated capital, reduce flexibility for investment, and leave results more exposed to unfavorable changes in assumptions or market conditions.
Read all positive and negative factors
Positive Factors
Negative Factors
Annuity growth and diversification
Strong growth in retail annuities, particularly RILAs, is expanding Jackson’s customer and product base while reducing reliance on a single annuity category. Greater spread-based and fixed-product penetration can support recurring earnings, account-value growth, and business resilience over coming quarters.
Read all positive factors
Jackson Financial Incorporation Key Performance Indicators (KPIs)
Any
Operating Revenue by Segment
Reveals how much revenue each business line (e.g., insurance products, annuities, retirement services, wealth management) contributes to the company’s top line, showing which segments drive growth and where revenue is concentrated. Useful for spotting high-growth areas, exposure to market cycles or interest-rate moves, and how shifts in product mix could affect future sales and diversification risk.
Reveals how much revenue each business line (e.g., insurance products, annuities, retirement services, wealth management) contributes to the company’s top line, showing which segments drive growth and where revenue is concentrated. Useful for spotting high-growth areas, exposure to market cycles or interest-rate moves, and how shifts in product mix could affect future sales and diversification risk.
Data provided by:
The Fly
The FlyJackson Financial Incorporation (JXN) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$9.15B
Dividend Yield2.59%
Average Volume (3M)910.18K
Price to Earnings (P/E)168.8
Beta (1Y)1.30
Revenue Growth15.09%
EPS GrowthN/A
CountryUS
Employees3,490
SectorFinancial
Sector Strength70
IndustryInsurance - Life
Share Statistics
EPS (TTM)0.80
Shares Outstanding67,728,745
10 Day Avg. Volume911,007
30 Day Avg. Volume910,184
Financial Highlights & Ratios
PEG Ratio4.36
Price to Book (P/B)0.75
Price to Sales (P/S)1.12
P/FCF Ratio1.30
Enterprise Value/Market Cap1.20
Enterprise Value/Revenue1.69
Enterprise Value/Gross Profit1.95
Enterprise Value/Ebitda27.46
Forecast
1Y Price Target
$142.33Price Target Upside8.13% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering3
EPS Forecast (FY)27.1
Revenue Forecast (FY)$8.04B
Jackson Financial Incorporation Business Overview & Revenue Model
Company Description
Jackson Financial Inc., incorporated in 2006 and based in Lansing, Michigan, specializes in offering a diverse range of annuity products primarily to individual investors across the United States. The company, which was previously known as Brooke ...
How the Company Makes Money
Jackson Financial primarily makes money by manufacturing and managing annuity products and earning spreads and fees associated with those contracts. Key revenue and earnings drivers include: (1) Net investment spread: The company invests premiums ...
Jackson Financial Incorporation Earnings Call Summary
Earnings Call Date:Aug 03, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Nov 03, 2026
Earnings Call Sentiment Positive
The call conveyed strong operational momentum and financial results — record adjusted operating earnings and EPS growth, accelerating annuity and spread-based sales (especially RILA), robust capital and liquidity metrics, and growing free cash flow and shareholder returns. Key challenges were manageable and primarily related to short-term valuation volatility in limited partnerships, VA hedging accounting noise driven by implied volatility, elevated required capital growth in the quarter, and variable annuity surrender sensitivity to equity markets. On balance, positives materially outweighed the negatives, with management expressing confidence in targets for full-year free capital generation and continued diversification.Positive Updates
Record Adjusted Operating Earnings and EPS Growth
Adjusted operating earnings reached a new quarterly record with adjusted operating EPS of $7.30; excluding notables and normalizing for tax, adjusted operating EPS was $7.68, a ~55% increase versus the second quarter a year ago. Pretax adjusted operating earnings were $618 million for the quarter ($648 million excluding notable items) and ex-notables earnings increased ~50% year-over-year.
Negative Updates
Limited Partnership Valuation Shortfall
Limited partnership results were below the long-term 10% return assumption in the quarter, producing an unfavorable impact of $0.36 per diluted share. Management noted quarter-to-quarter valuation variability in the limited partnership portfolio.
Read all updates
Q2-2026 Updates
Positive
Negative
Record Adjusted Operating Earnings and EPS Growth
Adjusted operating earnings reached a new quarterly record with adjusted operating EPS of $7.30; excluding notables and normalizing for tax, adjusted operating EPS was $7.68, a ~55% increase versus the second quarter a year ago. Pretax adjusted operating earnings were $618 million for the quarter ($648 million excluding notable items) and ex-notables earnings increased ~50% year-over-year.
Read all positive updates
Company Guidance
Management reiterated confidence in its 2026 targets — specifically at least $1.2 billion of free capital generation and $900 million–$1.1 billion of capital return to common shareholders — citing Q2 free capital generation of $304 million and after‑tax statutory capital generation of $656 million. They pointed to strong cash and liquidity (H1 free cash flow $575 million, $547 million returned to shareholders in H1, nearly $1.4 billion of holding‑company cash & investments and ~ $4 billion of total available liquidity after a $750 million senior debt issuance that prefunded $650 million of 2027 maturities and an expanded $1.25 billion revolver), and solid capital metrics (total adjusted capital $5.8 billion, estimated RBC ~538% vs. a 425% risk appetite). Quarterly operating results were highlighted as record‑setting — adjusted operating EPS $7.30 ($7.68 ex‑notables) and pretax adjusted operating earnings $618 million ($648 million ex‑notables) — and management said continued spread‑based AUM growth and capital generation position Jackson to achieve its full‑year objectives.Jackson Financial Incorporation Financial Statement Overview
Summary
Income Statement
46
Neutral
Balance Sheet
68
Positive
Cash Flow
60
Neutral
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 6.51B | 6.68B | 3.09B | 3.17B | 9.72B | 5.50B |
| Gross Profit | 5.65B | 5.71B | 2.39B | 2.47B | 8.91B | 4.99B |
| EBITDA | 401.00M | -14.00M | 1.12B | 1.07B | 7.83B | 4.39B |
| Net Income | 103.00M | 27.00M | 946.00M | 934.00M | 6.19B | 3.42B |
Balance Sheet | ||||||
| Total Assets | 367.06B | 352.59B | 338.47B | 330.25B | 314.98B | 375.56B |
| Cash, Cash Equivalents and Short-Term Investments | 58.19B | 53.47B | 3.77B | 43.57B | 46.79B | 54.17B |
| Total Debt | 2.77B | 4.61B | 2.03B | 4.03B | 4.37B | 4.05B |
| Total Liabilities | 356.59B | 342.24B | 328.47B | 319.92B | 305.61B | 364.49B |
| Stockholders Equity | 9.96B | 9.95B | 9.76B | 10.17B | 8.65B | 10.39B |
Cash Flow | ||||||
| Free Cash Flow | 5.88B | 5.76B | 5.79B | 5.31B | 5.21B | 5.68B |
| Operating Cash Flow | 5.88B | 5.76B | 5.79B | 5.31B | 5.21B | 5.68B |
| Investing Cash Flow | -9.48B | -7.76B | -7.09B | -592.00M | -1.37B | -1.30B |
| Financing Cash Flow | 5.80B | 3.94B | 2.37B | -6.33B | -2.16B | -3.77B |
Jackson Financial Incorporation Technical Analysis
Positive
131.63
Price Trends
132.53
Positive
124.60
Positive
116.44
Positive
Market Momentum
0.15
Negative
57.04
Neutral
73.34
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JXN, the sentiment is Positive. The current price of 131.63 is above the 20-day moving average (MA) of 131.25, below the 50-day MA of 132.53, and above the 200-day MA of 116.44, indicating a bullish trend. The MACD of 0.15 indicates Negative momentum. The RSI at 57.04 is Neutral, neither overbought nor oversold. The STOCH value of 73.34 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for JXN.
Jackson Financial Incorporation Risk Analysis
Jackson Financial Incorporation disclosed 39 risk factors in its most recent earnings report. Jackson Financial Incorporation reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Jackson Financial Incorporation Peers Comparison
UnderperformOutperform
Sector (68)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
71 Outperform | $2.70B | 6.87 | 8.86% | 4.85% | 13.68% | 16.86% | |
68 Neutral | $18.00B | 11.42 | 9.92% | 3.81% | 9.73% | 1.22% | |
67 Neutral | $39.75B | 10.33 | 12.00% | 4.82% | 9.38% | 144.26% | |
64 Neutral | $7.73B | 3.37 | 21.99% | 4.46% | 12.32% | 97.86% | |
60 Neutral | $9.15B | 168.83 | 1.04% | 2.59% | 15.09% | ― | |
58 Neutral | $8.77B | 16.22 | 12.63% | 1.94% | 3.16% | 18.32% | |
50 Neutral | $2.57B | 3.51 | 13.17% | ― | 2.62% | 33.55% |
* Financial Sector Average
JXN
Jackson Financial Incorporation
134.50
39.68
41.85%
LNC
Lincoln National
40.66
2.42
6.34%
PRU
Prudential Financial
115.37
19.27
20.05%
VOYA
Voya Financial
96.56
25.12
35.17%
BHF
Brighthouse Financial
43.81
-2.48
-5.36%
FG
F&G Annuities & Life Inc
20.60
-7.40
-26.44%
Jackson Financial Incorporation Corporate Events
Executive/Board Changes
Jackson Financial appoints Donald Templin to board, committees
Positive
Oct 14, 2026
On October 12, 2026, Jackson Financial Inc.’s board elected Donald C. Templin as an independent director to fill a vacancy stemming from Gregory Durant’s earlier resignation. His term runs until the 2027 annual shareholders’ meet...
Business Operations and StrategyFinancial Disclosures
Jackson Financial posts strong Q2 2026 earnings growth
Positive
Aug 3, 2026
Jackson Financial Inc. reported strong second-quarter 2026 results, with $644 million in GAAP earnings, $513 million in non-GAAP adjusted operating earnings, and record non-GAAP earnings per share of $7.30, or $7.68 excluding notable items. Retail...
Business Operations and StrategyExecutive/Board Changes
Jackson Financial announces executive leadership succession plan
Positive
Jul 22, 2026
On July 22, 2026, Jackson Financial Inc. announced a planned executive leadership transition, following the Board’s July 16, 2026 approval of key appointments effective October 1, 2026. Longtime executive Laura L. Prieskorn will retire as pr...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.