Jackson Financial shares rose more than 27% in the third quarter of 2026, according to the Easterly Snow Small Cap Value Fund’s quarterly letter. The fund said sentiment improved ahead of the insurer’s second-quarter earnings report.

Jackson Financial shares and earnings expectations

The fund said analysts had anticipated strong earnings growth from spread-based accounts and a continued reduction in the number of shares outstanding. Its commentary does not establish that those expectations caused the stock’s quarterly rise.

Jackson announced its second-quarter results on August 3, during the period covered by the fund’s letter.

Second-quarter profit and shareholder returns

In its second-quarter earnings announcement, Jackson reported net income attributable to common shareholders of $644 million, or $9.16 per diluted share, compared with $168 million, or $2.34 per diluted share, a year earlier.

Adjusted operating earnings rose to $513 million from $350 million. Jackson attributed the increase primarily to higher spread and fee income and a lower share count following repurchases. The company returned $290 million to common shareholders during the quarter through $227 million in share buybacks and $63 million in dividends.

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