JXN - Jackson Financial: Efficient Capital Generation Supports Rising Shareholder Returns
2024-07-10 08:00:00 ET
Summary
- Jackson Financial shares have doubled in the past year due to favorable market conditions and strong annuity business performance.
- The company exceeded my earnings expectations in Q1, with growth in the RILA business offsetting legacy variable annuity exposure.
- Jackson Financial's strong capital position, improving business mix, and solid investment portfolio support ongoing capital returns and potential share price growth.
Shares of Jackson Financial ( JXN ) have been a tremendous performer over the past year, more than doubling, as buoyant equities and rising rates have created very favorable conditions for its annuity business. I have consistently been bullish on JXN, reiterating it as a “ strong buy ” in March, and since that analysis, shares are up 20%, more than double the S&P 500’s return. Given how much it has rallied, it is reasonable to ask whether investors should now take some profits, especially with shares near my $75-80 price target....
Jackson Financial: Efficient Capital Generation Supports Rising Shareholder Returns