Jackson® (NYSE: JXN) is committed to helping clarify the complexity of retirement planning—for financial professionals and their clients. Through our range of annuity products, financial know-how, history of award- winning service* and streamlined experiences, we strive to reduce the confusion that complicates retirement planning. We take a balanced, long-term approach to responsibly serving all our stakeholders, including customers, shareholders, distribution partners, employees, regulators and community p ...

Key Takeaways Insurers like TRV, AXS, JXN, LNC, and GL have beaten the market in 2025 with more gains expected in 2026.Strong underwriting, capital position and digital upgrades helped insurers thrive despite catastrophe losses.Insurers continue to boost dividends, expand via M&A, and benefit from diversified investment portfolios.As we move closer to wrapping up 2025, we are all hoping for a prosperous 2026, which, in turn, will be reflected in our investment portfolio. Despite an active catastrophe enviro ...

Core Insights - Jackson Financial (JXN) is outperforming its peers in the Finance sector with a year-to-date return of 18.9%, compared to the sector average of 16.2% [4] - The Zacks Rank for Jackson Financial is 1 (Strong Buy), indicating a positive earnings outlook and improving analyst sentiment [3][4] - The Insurance - Life Insurance industry, to which Jackson Financial belongs, has an average gain of 5.7% this year, further highlighting JXN's strong performance [6] Company Performance - Jackson Financial's full-year earnings consensus estimate has increased by 7.5% over the past 90 days, reflecting a more favorable earnings outlook [4] - The stock is one of 863 individual stocks in the Finance sector, which is currently ranked 2 in the Zacks Sector Rank [2] Industry Comparison - The Insurance - Life Insurance industry ranks 74 in the Zacks Industry Rank, while the Banks - Foreign industry, which includes Banco De Chile, ranks 60 and has gained 50.1% this year [6] - Banco De Chile has significantly outperformed with a year-to-date return of 67% and has a Zacks Rank of 2 (Buy) [5]

Core Insights - Jackson Financial Inc. (NYSE:JXN) is recognized as one of the 14 Best Up and Coming Dividend Stocks to Buy [1] - Morgan Stanley has reduced its price target for Jackson Financial from $106 to $101 while maintaining an Equal Weight rating, citing stronger life insurance earnings despite recent share price movements [2] - The company reported total revenues of $1.4 billion in Q3 2025, a decline of 33.2% year-over-year, but retail annuity sales increased by 2% to $5.4 billion [3] - CEO Laura Prieskorn announced a $1 billion increase in share repurchase authorization and confirmed a fourth-quarter dividend of $0.80 per share, with expectations for capital returns to exceed the 2025 target range of $700 million to $800 million [4] Financial Performance - Total revenues for Q3 2025 were $1.4 billion, down 33.2% from the previous year [3] - Retail annuity sales reached $5.4 billion, reflecting a 2% year-over-year increase [3] - Variable annuity sales rose to $2.9 billion, an 8% increase from Q3 2024 [3] Capital Management - Free capital generation was reported at $1 billion, with free cash flow totaling $719 million over the first three quarters [4] - Quarterly distributions to the holding company for the first nine months amounted to approximately $815 million [4] - The company has increased its share repurchase authorization by $1 billion [4]

Core Insights - Three stocks are highlighted with a buy rank and strong value characteristics: Jackson Financial, OP Bancorp, and SB Financial Group Company Summaries - **Jackson Financial (JXN)**: A U.S. retirement services provider with a Zacks Rank 1 (Strong Buy). The Zacks Consensus Estimate for its current year earnings has increased by 1.7% over the last 60 days. The company has a price-to-earnings ratio (P/E) of 4.37, significantly lower than the industry average of 10.80, and possesses a Value Score of A [1][2]. - **OP Bancorp (OPBK)**: Provides commercial banking services to retail and institutional customers, also carrying a Zacks Rank 1. The Zacks Consensus Estimate for its current year earnings has increased by 4.7% over the last 60 days. The company has a P/E ratio of 7.11 compared to the industry average of 11.10, and it also has a Value Score of A [2][3]. - **SB Financial Group (SBFG)**: A financial service holding company offering a full range of financial services, including wealth management and lending. It holds a Zacks Rank 1, with the Zacks Consensus Estimate for its current year earnings increasing by 5.4% over the last 60 days. The company has a P/E ratio of 8.35, well below the industry average of 29.40, and possesses a Value Score of A [3][4].

Core Insights - Three stocks are highlighted with strong income characteristics and a buy rank as of November 19th Group 1: First Hawaiian (FHB) - First Hawaiian offers a range of banking services including deposit products, lending services, and wealth management [1] - The Zacks Consensus Estimate for its current year earnings has increased by 4.9% over the last 60 days [1] - The company has a dividend yield of 4.5%, surpassing the industry average of 3.1% [2] Group 2: OP Bancorp (OPBK) - OP Bancorp provides commercial banking services to both retail and institutional customers [2] - The Zacks Consensus Estimate for its current year earnings has increased by 4.7% over the last 60 days [2] - The company has a dividend yield of 3.8%, compared to the industry average of 1.2% [2] Group 3: Jackson Financial (JXN) - Jackson Financial is a U.S. retirement services provider with a diverse portfolio of differentiated products [3] - The Zacks Consensus Estimate for its current year earnings has increased by 1.7% over the last 60 days [3] - The company has a dividend yield of 3.5%, which is higher than the industry average of 1.6% [3]

Financial Data and Key Metrics Changes - Adjusted operating earnings for Q3 2025 were $433 million, an increase of over 20% from the previous year, primarily driven by the retail annuities business [4][12] - Free capital generation exceeded $1 billion year-to-date, with free cash flow at $719 million [9][28] - The risk-based capital (RBC) ratio ended the quarter at an estimated 579%, significantly above the minimum target of 425% [10][31] Business Line Data and Key Metrics Changes - Retail annuity sales reached over $5 billion for the quarter, the highest since the company became independent, with RILA sales accounting for 38% of total retail annuity sales [4][5] - RILA account balance increased to nearly $18 billion, a 21% increase from the previous quarter and a 74% increase year-over-year [5][15] - Variable annuity sales increased by 13% from the second quarter and 8% year-over-year, with sales without a lifetime benefit up 24% year-to-date [6][12] Market Data and Key Metrics Changes - Average retail annuity assets under management (AUM) rose to $263 billion, reflecting strong non-variable annuity net flows and separate account performance [18] - Strong equity market performance led to nearly $25 billion in separate account investment performance year-to-date, exceeding variable annuity net outflows by over $11 billion [17][30] Company Strategy and Development Direction - The company focuses on product innovation and consumer choice, with recent launches in fixed index annuities expected to contribute to future sales growth [8][10] - The strategy includes diversifying the business mix by increasing spread product sales while maintaining capital flexibility for shareholder returns [9][40] - The company aims to leverage its investment manager's capabilities to enhance competitiveness and profitability in spread-based products [8][12] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in maintaining long-term leadership in the annuity market, supported by a resilient capital position and effective risk management strategies [11][33] - The company anticipates continued strong performance in the fourth quarter, expecting to exceed its capital return target range of $700-$800 million for 2025 [9][10] - Management highlighted the importance of ongoing investments in long-term growth and capital return to shareholders [10][30] Other Important Information - The board approved a $1 billion increase to the common share repurchase authorization and a cash dividend of $0.80 per common share for the fourth quarter [10][30] - The company has returned nearly $2.5 billion to common shareholders since becoming independent, exceeding its initial market capitalization [9][30] Q&A Session Summary Question: Actual to expected policyholder behavior - Management noted that the surrender rate has increased, primarily due to higher equity markets influencing surrender activity, but emphasized that they will review long-term assumptions based on comprehensive analysis [35][36] Question: RBC target and excess capital - Management confirmed that they have substantial excess capital and expect the RBC ratio to decrease over time as they diversify into more spread-type products while continuing to return capital [39][40] Question: Strategic value of closed-block segments - Management stated that the closed-block segment provides balance to the overall structure and closely monitors its performance, although it is not a significant portion of the balance sheet [40][41] Question: Hedging strategy and comparison with peers - Management expressed confidence in their hedging structure, highlighting that their approach allows for efficient risk management without the constraints faced by peers [42][43] Question: Impact of actuarial review on Brook RE - Management indicated that they expect minimal impacts at JNL from the actuarial review, with Brook RE anticipated to be self-sustaining in the long term [46][47]

Financial Performance - Jackson Financial Inc reported GAAP earnings of $65 million, or $092 per diluted common share[8, 9] - Adjusted Operating Earnings were $433 million, or $616 per diluted common share[9] - The company returned $210 million of capital to common shareholders through dividends and repurchases[9] - Free cash flow was $216 million, representing cash distributed to JFI net of JFI expenses[10] Capital and Liquidity - Jackson National Life Insurance Company (JNL) estimated risk-based capital (RBC) ratio was 579%[9] - Holding company cash and highly liquid securities exceeded $750 million[14] - After-Tax Statutory Capital Generation was $579 million[51] Sales and Business Segments - Retail annuity sales increased by 22% compared to the second quarter of 2025[11] - Record RILA sales reached $21 billion, a 49% increase from the second quarter of 2025 and a 28% increase from the third quarter of 2024[31] - PPM America's assets under management (AUM) increased by 18% compared to the third quarter of 2024[31]

Core Viewpoint - Jackson Financial (JXN) shares have shown modest performance over the past year, trading essentially flat after a significant sell-off in April, but have since rallied approximately 40% from the lows to return to flat levels [1] Group 1: Stock Performance - The stock was heavily impacted during the April sell-off [1] - Following the sell-off, Jackson Financial shares have rebounded by about 40% from their lowest point [1] - Overall, the stock has remained flat over the past year despite the fluctuations [1]

Core Insights - Jackson Financial (JXN) reported quarterly earnings of $6.16 per share, exceeding the Zacks Consensus Estimate of $5.1 per share, and showing an increase from $4.6 per share a year ago, resulting in an earnings surprise of +20.78% [1] - The company generated revenues of $1.9 billion for the quarter ended September 2025, surpassing the Zacks Consensus Estimate by 0.76% and up from $1.75 billion year-over-year [2] - Jackson Financial has outperformed consensus EPS estimates three times over the last four quarters and has topped revenue estimates twice in the same period [2] Earnings Outlook - The current consensus EPS estimate for the upcoming quarter is $5.67, with expected revenues of $1.93 billion, and for the current fiscal year, the EPS estimate is $20.72 on revenues of $7.27 billion [7] - The company's favorable estimate revisions trend prior to the earnings release has resulted in a Zacks Rank 2 (Buy), indicating expected outperformance in the near future [6] Industry Context - The Insurance - Life Insurance industry, to which Jackson Financial belongs, is currently ranked in the top 20% of over 250 Zacks industries, suggesting a positive outlook for stocks within this sector [8] - Empirical research indicates a strong correlation between near-term stock movements and trends in earnings estimate revisions, which can be tracked by investors [5]