Jackson's Record Quarter Powers the Bull Case

A record quarter and an upcoming leadership transition are putting fresh focus on Jackson Financial (NYSE: JXN), the U.S. annuity business spun off from U.K.-based Prudential plc in September 2021. Shares are up nearly 30% this year, leaving investors to weigh whether the rally still has runway. Jackson reported adjusted operating earnings of $513 million, or $7.30 per diluted share, for the second quarter—record levels and above analysts’ $5.72 forecast. Retail annuity sales rose to $5.9 billion (+34% year over year), while registered index-linked annuities (RILA) hit a record $2.3 billion (+69%). Capital returns also accelerated: $290 million to common shareholders in the quarter. The board raised the dividend 12.5% to 90 cents per share. But CEO Laura Prieskorn will retire after nearly 40 years, adding uncertainty even as analysts show mixed views with a consensus Moderate Buy.