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

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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