7 Mid Cap Stocks with Low PE Ratios

04. Jackson Financial Inc. (NYSE:JXN)

Forward P/E ratio as of October 2: 3.36 

Number of Hedge Fund Holders: 31

Jackson Financial Inc. (NYSE:JXN) is a key player in the U.S. annuity market, offering a diverse range of retirement income and savings products through its subsidiaries. With a Forward P/E Ratio of just 3.36 as of October 2, 2024, Jackson Financial stands out as a compelling option in the mid-cap segment, making it an ideal candidate for our list of  seven mid cap stocks with low PE ratios. As of Q2 2024, the stock had 31 hedge fund holders, compared to 27 in the previous quarter, indicating growing institutional interest.

The company operates through three segments: Retail Annuities, Institutional Products, and Closed Life and Annuity Blocks. During the second quarter of 2024, Jackson Financial Inc. (NYSE:JXN) delivered robust financial performance, driven by strong growth in annuity sales and effective capital management. Total retail annuity sales increased by 36% year-over-year and 15% sequentially, with notable contributions from variable annuities and Registered Index-Linked Annuities (RILAs). The company’s focus on enhancing its digital ecosystem has helped drive RILA sales momentum, reaching a record $1.4 billion in the second quarter. The strength in variable annuity sales, reaching $2.7 billion, further illustrates the company’s strong execution and appeal to retirement savers.

In Q2 2024, Jackson Financial Inc. (NYSE:JXN) reported adjusted operating earnings of $410 million, up 45% from the same period last year. This growth was fueled by higher fee income from increased annuity assets under management and improved earnings on spread products. The company’s robust capital position is underscored by an estimated RBC ratio of 550%-570%, well above its minimum target of 425%, supporting its long-term sustainability and commitment to shareholder returns. Jackson’s Board recently approved a $750 million increase in its share repurchase authorization, reflecting confidence in future profitability and cash flow generation.

The company’s prudent capital allocation strategy, solid earnings growth, and low valuation make it a compelling investment for those seeking exposure to mid-cap stocks with attractive fundamentals. The continued expansion of RILA sales and consistent shareholder returns further reinforce Jackson Financial Inc. (NYSE:JXN) position as a leader in the annuity market, offering strong growth potential for investors looking to capitalize on low P/E ratio opportunities.