Jackson Financial Inc Stock Price, News & Analysis

Jackson Financial Inc. (NYSE: JXN) has appointed Scott Romine as President of Jackson National Life Distributors LLC (JNLD), succeeding Aimee DeCamillo. Romine, a 24-year veteran, was previously President of Advisory Solutions. Additionally, Alison Reed has taken on an expanded role as COO of JNLD, overseeing Distribution Services and Marketing. Both leaders are expected to drive growth aligned with Jackson’s strategic focus. CEO Laura Prieskorn praised their experience and alignment with expansion goals.

Jackson Financial Inc. (NYSE: JXN) announced a $125 million stock repurchase from Prudential plc (NYSE: PUK) and Athene Co-Invest Reinsurance Affiliate 1A Ltd. This transaction forms part of a larger $300 million share buyback program. To date, approximately $185 million has been spent repurchasing 2,242,516 shares from Prudential and 1,134,767 shares from Athene. The repurchases are funded through cash reserves, with management retaining flexibility on future buybacks based on market conditions.

Jackson Financial Inc. (NYSE: JXN) has completed a $1.6 billion senior notes offering, divided into three tranches: $600 million of 1.125% notes due in 2023, $500 million of 3.125% notes due in 2031, and $500 million of 4.000% notes due in 2051. The proceeds will be utilized to repay the existing $1.6 billion term loan due on May 21, 2022. The offering was made to qualified institutional buyers under Rule 144A of the Securities Act, and Jackson plans to file a registration statement with the SEC for an exchange offer of the notes.

Jackson Financial Inc. (NYSE: JXN) reported a net income of $206 million, or $2.18 per diluted share, for Q3 2021, significantly improving from a net loss of $397 million in Q3 2020. Adjusted operating earnings were $487 million, down from $547 million a year earlier due to higher amortization of deferred acquisition costs (DAC). Total annuity account value increased by 20% year-over-year to $248 billion. The company launched new Registered Index-Linked Annuities and announced a $0.50 quarterly cash dividend and $300 million share repurchase authorization, reflecting strong operational momentum.

Jackson Financial (NYSE: JXN) has approved a $0.50 cash dividend per common share for Q4 2021 and authorized a $300 million share repurchase program. This marks the first dividend and buyback since its public listing. CEO Laura Prieskorn emphasized the company's commitment to returning excess capital to shareholders, with a target of $325-$425 million within the first year post-demerger. The dividend is payable on December 9, 2021 to shareholders of record on November 19, 2021.

AllianceBernstein (AB) has announced the addition of Jackson National Life Insurance Company (JXN) to its Lifetime Income Strategy (LIS) platform, enhancing retirement solutions for Defined Contribution plans. With this move, Jackson becomes the fifth insurer backing AB's in-plan guaranteed income solution, which currently manages over $6 billion in assets. AB aims to provide effective lifetime income options, benefiting both plan sponsors and participants, especially in light of the SECURE Act's provisions on annuities.

Jackson National Life Insurance Company has launched the Jackson Market Link Pro (JMLP) and Jackson Market Link Pro Advisory (JMLPA), two new registered index-linked annuities (RILAs). These products aim to provide investors with growth opportunities while offering protection against market volatility. JMLP is commission-based, while JMLPA charges fees. The suite includes multiple index options like the S&P 500 and ESG-focused indexes, with flexible allocation and protection choices. Jackson emphasizes the flexibility and adaptability of these products to meet diverse financial goals.

Jackson Financial Inc. (NYSE: JXN) will announce its third-quarter financial results for the period ending September 30, 2021, after market close on November 9, 2021. A conference call to discuss these results is scheduled for November 10, 2021, at 10 a.m. ET, accessible to the public via their investor relations website. Jackson is focused on simplifying retirement planning through a range of annuity products and financial services aimed at improving customer experiences and outcomes.

Jackson Financial Inc. (NYSE: JXN) reported its Q2 2021 financial results, marking its first earnings report post-separation from Prudential plc. The company experienced a net loss of $540 million, or ($5.72) per diluted share, largely due to non-economic fair value changes. However, adjusted operating earnings rose to $636 million, or $6.74 per diluted share, driven by strong private equity returns and separate account growth. Total annuity account value reached $250 billion, up 29% year-over-year. The pro forma Risk Based Capital ratio remains healthy, aligning with targets.