Jackson Financial
Sells U.S. annuities, institutional funding products, and legacy life-insurance blocks.
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Profile
Sells retail annuities and institutional funding products while managing closed life-and-annuity blocks. The business is concentrated in the United States and relies on advisor distribution, product pricing, hedging, and insurance regulation.
Runs a U.S. retirement-products business built around Retail Annuities, Institutional Products, and Closed Life and Annuity Blocks. Retail Annuities includes variable annuities, RILA, fixed and fixed index annuities, payout annuities, a defined-contribution lifetime income solution, and separate-account asset management.
Reaches customers through broker-dealers, banks, registered investment advisers, platforms, and insurance agents. Operations are centered in Lansing, with an in-house administration platform used for most in-force policies and PPM/JNAM investment-management capabilities supporting general-account and separate-account assets.
Results depend on advisor distribution access, product design and pricing, investment income, policyholder behavior, hedge effectiveness, reinsurance, and U.S. insurance and retirement-product regulation.
Company facts
Categories
Key statistics
Year to date +24.8% · Average volume (30d) 556.5K
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Prior rating | Rating | Prior target | Target |
|---|---|---|---|---|---|---|
| Aug 5, 2026 | Evercore ISI | Target | $118 | $135 | ||
| Aug 4, 2026 | Barclays | Reiterate | Overweight | $139 | $149 | |
| Jul 10, 2026 | Jefferies | Upgrade | Hold | Buy | $80 | $140 |
| Jul 7, 2026 | Barclays | Reiterate | Overweight | $137 | $139 | |
| Jan 8, 2026 | Barclays | Target | $128 | $137 |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Aug 3, 2026Q2 FY26 | $5.72 | $7.30 | +27.6% | $1.91B | $168.0M | −91.2% | +5.90% |
| May 5, 2026Q1 FY26 | $5.96 | $5.94 | −0.3% | $1.94B | $2.90B | +49.8% | +5.93% |
| Feb 18, 2026Q4 FY25 | $5.86 | $6.61 | +12.8% | $1.92B | $1.99B | +3.5% | −2.73% |
| Nov 4, 2025Q3 FY25 | $5.10 | $6.16 | +20.8% | $1.92B | $1.35B | −29.8% | −6.85% |
Financial highlights
| 12 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $3.72B | −$483.0M | $1.35B | $2.09B | $2.90B | $168.0M | |
| Gross profit | $318.0M | $552.0M | $372.0M | $4.47B | $641.0M | $168.0M | |
| Operating income | −$17.0M | $189.0M | $72.0M | −$358.0M | −$400.0M | $665.0M | |
| Net income | −$24.0M | $179.0M | $76.0M | −$204.0M | −$424.0M | $655.0M | |
| Diluted EPS | −$0.48 | $2.34 | $0.92 | −$3.06 | −$6.24 | $9.16 | |
| Gross margin | 8.5% | — | 27.6% | 213.5% | 22.1% | 100.0% | |
| Operating margin | -0.5% | — | 5.3% | -17.1% | -13.8% | 395.8% |
Fiscal years (4-quarter sums)FY21 $8.95B · FY22 $11.35B · FY23 $3.18B · FY24 $3.09B · FY25 $6.68B
Revenue by product · Q2 FY26
Balance sheet, Jun 30, 2026Cash & short-term investments $58.19B · Total debt $2.77B · Total assets $367.07B · Shareholders' equity $9.96B
Dividends
Raised for 3 straight years — most recently to $0.90 from $0.80 in Mar 2026. To collect a payout, hold shares through the close before the ex-date.
History
| Ex-date | Record | Paid | Amount | Note |
|---|---|---|---|---|
| Jun 11, 2026 | Jun 11 | Jun 25 | $0.90 | |
| Mar 16, 2026 | Mar 16 | Mar 26 | $0.90 | raised from $0.80 |
| Dec 4, 2025 | Dec 4 | Dec 18 | $0.80 | |
| Sep 15, 2025 | Sep 15 | Sep 25 | $0.80 | |
| Jun 12, 2025 | Jun 12 | Jun 26 | $0.80 | |
| Mar 11, 2025 | Mar 11 | Mar 20 | $0.80 | raised from $0.70 |
| Dec 5, 2024 | Dec 5 | Dec 19 | $0.70 | |
| Sep 5, 2024 | Sep 5 | Sep 19 | $0.70 |
Ownership
A 13F quarter can total more than the shares outstanding — sub-advisers file the same block twice, and a filer's own share count can be a quarter stale. No split is drawn from it.
Shares outstanding 69.74M · Float 62.14M · 89.1% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| BlackRock, Inc. | 6.80M | 9.75% | 13F | Aug 7, 2026 |
| Vanguard Portfolio Management LLC | 5.45M | 7.81% | 13F | Aug 13, 2026 |
| TPG GP A, LLC | 4.72M | 6.76% | 13F | Aug 14, 2026 |
| Dimensional Fund Advisors LP | 4.12M | 5.90% | 13F | Aug 11, 2026 |
| Vanguard Capital Management LLC | 3.14M | 4.50% | 13F | Aug 13, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Aug 12, 2026 | Christopher Raub | officer: EVP JFI; CEO PPM America | −5,000 | $130.69 |
| Aug 5, 2026 | Carrie Chelko | officer: EVP and General Counsel | −7,500 | $134.24 |
| Mar 11, 2026 | Derek G. Kirkland | director | −10,000 | $108.32 |
Peers
- Equitable
RILA leader and major variable-annuity rival
- Lincoln Financial
Broad annuity and life overlap across VA, RILA, and indexed products
- Corebridge Financial
Large retirement issuer across fixed, indexed, and RILA products
- Brighthouse Financial
Annuity and life peer led by Shield index-linked annuities
- Prudential Financial
Retirement and annuity scale across individual and institutional markets
- Apollo Global Management
Athene-backed fixed annuity and funding-agreement competitor
- Ameriprise Financial
RiverSource adds advisor-channel RILA and variable-annuity pressure
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Jackson Financial | $134.00 | −0.07% | $9.36B | 172.0 | 4.5 | 1.4 | — |
| Equitable | $49.68 | −1.04% | $13.70B | — | 6.2 | 1.3 | −29.8% |
| Lincoln Financial | $43.25 | −0.07% | $8.29B | 3.7 | 5.3 | 0.4 | +21.2% |
| Corebridge Financial | $32.50 | −0.35% | $14.54B | 19.1 | 6.4 | 1.5 | +482.9% |
| Brighthouse Financial | $56.80 | +7.05% | $3.05B | 4.2 | 2.7 | 0.5 | +166.5% |
| Prudential Financial | $119.79 | +0.01% | $41.57B | 10.8 | 8.5 | 0.6 | +2.8% |
| Apollo Global Management | $135.48 | +0.35% | $77.78B | 30.2 | 13.8 | 2.2 | +63.7% |
| Ameriprise Financial | $564.76 | +0.97% | $50.28B | 13.5 | 11.4 | 2.5 | +14.6% |
| Median | 12.1 | 6.4 | 1.3 | +21.2% |