Jackson Financial (NYSE:JXN) Reaches New 12-Month High Following Dividend Announcement

Jackson Financial Inc. (NYSE:JXN) reached a new 52-week high on Wednesday after the company announced a dividend. The company traded as high as $111.77 and last traded at $111.49, with a volume of 26002 shares trading hands. The stock had previously closed at $100.41.

The newly announced dividend which will be paid on Thursday, December 19th. Stockholders of record on Thursday, December 5th will be issued a $0.70 dividend. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.58%. Jackson Financial’s payout ratio is 10.34%.

Analysts Set New Price Targets

JXN has been the topic of several recent research reports. Keefe, Bruyette & Woods boosted their price target on Jackson Financial from $80.00 to $82.00 and gave the company a “market perform” rating in a research report on Wednesday, August 14th. Jefferies Financial Group upped their price target on Jackson Financial from $73.00 to $80.00 and gave the stock a “hold” rating in a research note on Monday, July 29th. Barclays raised their price target on Jackson Financial from $109.00 to $111.00 and gave the company an “overweight” rating in a report on Tuesday, October 8th. Finally, Morgan Stanley upped their price objective on Jackson Financial from $86.00 to $89.00 and gave the stock an “equal weight” rating in a report on Monday, August 19th. Five analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $80.33.

Jackson Financial Price Performance

The company has a market cap of $8.15 billion, a price-to-earnings ratio of 4.10 and a beta of 1.48. The company has a fifty day simple moving average of $93.64 and a two-hundred day simple moving average of $83.00. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.42.

Jackson Financial (NYSE:JXN) last issued its quarterly earnings data on Wednesday, November 6th. The company reported $4.60 EPS for the quarter, missing analysts’ consensus estimates of $4.66 by ($0.06). The company had revenue of $2.12 billion for the quarter, compared to analysts’ expectations of $1.73 billion. During the same quarter last year, the firm posted $3.80 earnings per share. On average, equities research analysts anticipate that Jackson Financial Inc. will post 18.78 earnings per share for the current fiscal year.

Jackson Financial declared that its board has authorized a share repurchase plan on Wednesday, August 7th that permits the company to repurchase $750.00 million in shares. This repurchase authorization permits the company to reacquire up to 10.8% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board of directors believes its stock is undervalued.

Insider Buying and Selling at Jackson Financial

In other Jackson Financial news, EVP Carrie Chelko sold 5,500 shares of the firm’s stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $91.31, for a total value of $502,205.00. Following the sale, the executive vice president now directly owns 61,829 shares of the company’s stock, valued at approximately $5,645,605.99. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.30% of the stock is currently owned by insiders.

Institutional Trading of Jackson Financial

Several institutional investors have recently made changes to their positions in the stock. Dimensional Fund Advisors LP boosted its holdings in Jackson Financial by 3.8% in the second quarter. Dimensional Fund Advisors LP now owns 4,471,335 shares of the company’s stock valued at $332,035,000 after acquiring an additional 163,598 shares during the last quarter. Donald Smith & CO. Inc. lifted its stake in shares of Jackson Financial by 20.1% in the 1st quarter. Donald Smith & CO. Inc. now owns 2,376,476 shares of the company’s stock valued at $157,180,000 after purchasing an additional 397,287 shares in the last quarter. American Century Companies Inc. increased its position in Jackson Financial by 6.5% during the 2nd quarter. American Century Companies Inc. now owns 1,623,071 shares of the company’s stock worth $120,529,000 after purchasing an additional 98,792 shares in the last quarter. Acadian Asset Management LLC raised its holdings in Jackson Financial by 146.3% in the second quarter. Acadian Asset Management LLC now owns 1,219,218 shares of the company’s stock valued at $90,525,000 after buying an additional 724,148 shares during the period. Finally, Jacobs Levy Equity Management Inc. raised its holdings in Jackson Financial by 6.4% in the first quarter. Jacobs Levy Equity Management Inc. now owns 1,106,063 shares of the company’s stock valued at $73,155,000 after buying an additional 66,534 shares during the period. 89.96% of the stock is owned by hedge funds and other institutional investors.

Jackson Financial Company Profile

Jackson Financial Inc, through its subsidiaries, provides suite of annuities to retail investors in the United States. The company operates through three segments: Retail Annuities, Institutional Products, and Closed Life and Annuity Blocks. The Retail Annuities segment offers various retirement income and savings products, including variable, fixed index, fixed, and payout annuities, as well as registered index-linked annuities and lifetime income solutions.