2024-03-16 09:59:43 ET
Summary
- Jackson National shares have risen 70% in the past year, supported by elevated rates and rising equities.
- The company's capital position is now stellar, with risk-based capital at 624% at year-end, well above its target.
- Jackson continues to de-risk its business and has created a captive reinsurer to simplify its capital and hedging needs.
Shares of Jackson National ( JXN ) have been a tremendous performer over the past year, rising 70%. Elevated rates and rising equities continue to support results, and its capital position is now stellar. Since reiterating Jackson as a “strong buy” in December , shares have rallied a further 24%, bringing their return to nearly 60% since my initial piece in September . Shares now are within 10% of my $67 price target, and with additional financial results in hand, now is an opportune time to revisit the stock. I would stay long shares and am raising my price target given results....
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Jackson Financial: Excellent Capital Position Can Support More Upside