Welcome to our dedicated page for Jackson Financial news (Ticker: JXN), a resource for investors and traders seeking the latest updates and insights on Jackson Financial stock.
Jackson Financial Inc. reports developments in its retirement-services and annuity business, including financial results, retail annuity sales, product mix, capital generation, holding-company cash and common and preferred stock dividends. Its product suite includes variable annuities, registered index-linked annuities, fixed index annuities, fixed annuities and payout annuities, with business reported across Retail Annuities, Institutional Products, and closed life and annuity blocks.
Recurring company updates also cover Jackson National Life Insurance Company, the PPM America asset management subsidiary, investment-management capabilities, the completed TPG strategic partnership, and retirement research on policy, longevity, inflation, healthcare and market risks.
Jackson Financial Inc. (NYSE: JXN) reported strong Q2 2024 results, with net income of $264 million ($3.43 per diluted share) and adjusted operating earnings of $410 million ($5.32 per diluted share). Key highlights include:
- 9% increase in total annuity assets under management to $247 billion
- Record RILA sales of $1.4 billion, up 163% year-over-year
- Robust capital position with estimated RBC ratio of 550-570%
- Returned $144 million to shareholders through repurchases and dividends
- Board approved $750 million increase to share repurchase authorization
The company's retail annuity sales grew 36% year-over-year, driven by strong RILA performance. Jackson maintained over $1 billion in excess capital and increased holding company cash above its targeted minimum liquidity buffer.
Jackson Financial Inc. (NYSE: JXN) has announced key financial decisions for Q3 2024. The Board of Directors declared a cash dividend of $0.70 per share of common stock, payable on September 19, 2024, to shareholders of record as of September 5, 2024. Additionally, a cash dividend of $0.50 per depositary share for the preferred stock (NYSE: JXN PR A) will be paid on September 30, 2024.
Notably, Jackson's Board has authorized a $750 million increase to the existing common share repurchase program, adding to the remaining $95 million authorization as of June 30, 2024. This expansion demonstrates the company's commitment to returning value to shareholders through strategic capital allocation.
Jackson Financial (NYSE: JXN) will release its Q2 2024 financial results on August 7, 2024, after market close. The company will provide a detailed press release and supplemental financial materials on its investor relations website. A conference call and webcast to discuss the results will be held on August 8, 2024, at 10 a.m. ET. The webcast is publicly accessible, and a replay will be available post-call.
Jackson National Life Insurance Company awarded $775,000 in grants to nonprofits in Lansing, Nashville, and Chicago. These funds aim to provide financial services, savings practices, debt reduction, and access to Veterans services, tax filing assistance, and financial literacy training. Notable recipients include Haven House in Lansing, which supports homeless families, Operation Stand Down Tennessee in Nashville, aiding Veterans, and Ladder Up in Chicago, offering financial resources and tax preparation. Jackson has contributed over $85 million to nonprofits since 2007 and associates volunteered nearly 21,000 hours in 2023.
Jackson Financial has released findings from its latest research in the Security in Retirement Series, highlighting consumers' increasing pessimism about financial security amid inflation concerns.
Conducted with Boston College's Center for Retirement Research, the study reveals that over half of consumers are more pessimistic about their financial outlook than they were in 2021, with 30% being much more pessimistic post-2022's inflation peak. Notably, more than half of surveyed consumers were unclear about current inflation rates, indicating a low level of awareness.
Diversification is the top strategy recommended by financial professionals to mitigate inflation risk. Additionally, 42% of professionals in 2023 advised increasing allocations to annuities with guarantees, up from 32% during 2021-2022. Consumers who followed professional advice lost less purchasing power to inflation compared to those who did not.
The study also explores inflation's differing impacts on pre-retirees versus retirees and how news sources influence economic perceptions. The survey involved 400 financial professionals and over 1,500 consumers aged 55-85.
Jackson Financial Inc. (NYSE: JXN) reported a net income of $784 million in the first quarter of 2024, with adjusted operating earnings up 23% to $334 million. The company saw a record level of registered index-linked annuity sales and total annuity assets under management grew to $248 billion. Jackson also returned $172 million to common shareholders and maintained a robust capital position. Laura Prieskorn, President and CEO, highlighted the company's momentum and positive financial targets.
Jackson Financial Inc. announced dividends for the second quarter of 2024 - $0.70 per common stock and $0.50 per preferred stock (JXN and JXN PR A) payable in June and July respectively.
Jackson National Life Insurance Company® (Jackson®), a subsidiary of Jackson Financial Inc. (NYSE: JXN), has launched +Income, an add-on benefit offering guaranteed lifetime income through their Market Link Pro suite of registered index-linked annuities (RILAs). This new feature allows clients to create an immediate income stream or defer withdrawals, providing growth potential over time. RILAs are designed for retirement, subject to investment risk, with fluctuating values and possible loss of principal. +Income aims to provide clients with guaranteed retirement income that can withstand market fluctuations while offering additional benefits like legacy creation through built-in death benefits.
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