Overview

* Jackson Financial ( JXN ) 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

Metric Beat/Mis Actual Consensu

s s

Estimate

Q2 EPS $2.34

Q2 Net $168 mln

Income

Q2 $350 mln

Adjusted

Operatin

g

Earnings

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 ( JXN ) 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

Press Release:

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)