Jackson Financial Inc. - JXN STOCK NEWS

Jackson Financial Inc. (NYSE: JXN) announced a $550 million offering of 22 million depositary shares, each representing a $25 interest in its Fixed-Rate Reset Noncumulative Perpetual Preferred Stock, Series A. The offering, expected to close on March 13, 2023, includes an underwriter option for 2 million additional shares. Proceeds will be used to repay $600 million in senior notes due November 2023. The shares will be listed on the NYSE under “JXN PR A.” Joint book managers are Wells Fargo, BofA Securities, J.P. Morgan, and Morgan Stanley.

Jackson Financial Inc. (NYSE: JXN) reported a net loss of $(710) million for Q4 2022, translating to $(8.48) per diluted share, significantly down from a profit of $585 million in Q4 2021. Adjusted operating earnings were $491 million, down 31% year-over-year. RILA sales increased to $560 million compared to $108 million the previous year. For the full year, net income was $5,697 million, or $64.23 per diluted share, driven by improved net hedging results. The company returned $86 million to shareholders in Q4 and increased its Q1 2023 dividend by nearly 13%. The RBC ratio stood at 544% at year-end 2022, showcasing strong capital.

Jackson Financial Inc. (NYSE: JXN) announced a cash dividend of $0.62 per share for Q1 2023, reflecting a nearly 13% increase from the previous year. The dividend will be payable on March 23, 2023, to shareholders of record by March 14, 2023.

Additionally, the company has authorized a $450 million increase in its share repurchase program, bringing total repurchase authority to approximately $540 million. The repurchases will be conducted under various methods, depending on market conditions and legal compliance.

Jackson National Life Insurance Company, a subsidiary of Jackson Financial Inc. (NYSE: JXN), announced the addition of its annuity solutions to iCapital's SIMON platform. This partnership aims to enhance access for wealth management firms to Jackson's retirement products, including the registered index-linked annuities (RILA) like Jackson Market Link Pro and Jackson Market Link Pro Advisory, now available on the platform. By enabling financial professionals to utilize advanced resources for their clients' portfolios, Jackson aims to simplify retirement planning and cater to evolving investment needs.

Jackson Financial Inc. (NYSE: JXN) will announce its fourth quarter and full year financial results for 2022 after market close on February 28, 2023. A conference call and webcast will take place on March 1, 2023, at 10 a.m. ET to discuss these results and provide the company's outlook for 2023. Financial materials will be available on their investor relations website. Jackson aims to simplify retirement planning through its annuity products and has a commitment to delivering clarity for customers and stakeholders.

Jackson Financial Inc. (NYSE: JXN) will report its financial results for Q4 and the full year ended December 31, 2022, after market close on February 22, 2023. The company will host a conference call on February 23, 2023, at 10 a.m. ET to discuss the results. Investors can access the press release and supplemental materials on their investor relations website. Jackson focuses on simplifying retirement planning through its annuity products, focused service, and commitment to stakeholders.

PPM America has been named one of the Best Places to Work in Money Management for 2022 by Pensions & Investments. This ranking recognizes PPM among 43 companies in the 100 to 499 employee category and highlights its robust workplace culture, employee support, and community engagement. The firm boasts $70.07 billion in assets under management as of September 30, 2022. PPM's President, Craig Smith, emphasized the company's commitment to fostering a supportive environment and providing comprehensive employee benefits, including tuition reimbursement and retirement matching programs.

Jackson National Life Insurance Company released findings revealing that the "Golden Generation" (ages 50-80) values guaranteed income solutions like annuities for retirement planning. Key insights include that 76% of retirees in this cohort have pensions, and those with pensions are 6% more likely to purchase annuities. Interestingly, self-identified spenders are less likely to have guaranteed income compared to savers. The research underscores a need for better financial education on the benefits of secured income, especially amongst those without pensions.

Jackson Financial (NYSE: JXN) will be the presenting sponsor of the 2023 Chicago Polar Plunge, benefiting Special Olympics Chicago and Special Children’s Charities. This event, taking place on March 5, 2023, is expected to attract over 4,000 participants. Funds raised will support year-round activities for athletes. Jackson continues to promote disability inclusion through community efforts and its internal Enable Network. The company's commitment to aiding individuals with intellectual disabilities emphasizes its corporate social responsibility.