Jackson Financial Inc. (NYSE:JXN) Declares $0.70 Quarterly Dividend

Jackson Financial Inc. (NYSE:JXN) announced a quarterly dividend on Wednesday, November 6th,NASDAQ Dividends reports. Stockholders of record on Thursday, December 5th will be paid a dividend of 0.70 per share on Thursday, December 19th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.52%. The ex-dividend date is Thursday, December 5th.

Jackson Financial has a dividend payout ratio of 14.0% indicating that its dividend is sufficiently covered by earnings. Analysts expect Jackson Financial to earn $19.64 per share next year, which means the company should continue to be able to cover its $2.80 annual dividend with an expected future payout ratio of 14.3%.

Jackson Financial Price Performance

Shares of JXN stock traded down $2.75 during mid-day trading on Thursday, hitting $110.99. The company had a trading volume of 1,126,106 shares, compared to its average volume of 736,287. Jackson Financial has a 52-week low of $38.69 and a 52-week high of $115.09. The stock’s 50 day moving average price is $93.64 and its 200-day moving average price is $83.00. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.30 and a quick ratio of 0.30. The company has a market capitalization of $8.35 billion, a P/E ratio of 4.10 and a beta of 1.48.

Jackson Financial (NYSE:JXN) last released its quarterly earnings results on Wednesday, November 6th. The company reported $4.60 earnings per share (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 the consensus estimate of $1.73 billion. During the same quarter last year, the firm posted $3.80 earnings per share. Equities research analysts forecast that Jackson Financial will post 18.78 earnings per share for the current year.

Insider Activity

In other news, EVP Carrie Chelko sold 5,500 shares of the stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $91.31, for a total transaction of $502,205.00. Following the sale, the executive vice president now owns 61,829 shares of the company’s stock, valued at approximately $5,645,605.99. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.30% of the company’s stock.

Jackson Financial declared that its Board of Directors has approved a share buyback plan on Wednesday, August 7th that authorizes the company to buyback $750.00 million in outstanding shares. This buyback authorization authorizes the company to buy up to 10.8% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s board believes its stock is undervalued.

Analyst Upgrades and Downgrades

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

About Jackson Financial

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.