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

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 payout ratio of 14.0% meaning its dividend is sufficiently covered by earnings. Research 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

NYSE:JXN traded down $2.75 during midday trading on Thursday, hitting $110.99. 1,126,106 shares of the stock were exchanged, compared to its average volume of 736,287. The company has a market capitalization of $8.35 billion, a price-to-earnings ratio of 4.20 and a beta of 1.48. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.42. Jackson Financial has a one year low of $38.69 and a one year high of $115.09. The business has a 50-day moving average price of $93.17 and a two-hundred day moving average price of $82.81.

Jackson Financial (NYSE:JXN) last issued its quarterly earnings results on Wednesday, November 6th. The company reported $4.60 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.66 by ($0.06). The firm had revenue of $2.12 billion during the quarter, compared to the consensus estimate of $1.73 billion. During the same quarter in the previous year, the business posted $3.80 EPS. Sell-side analysts predict that Jackson Financial will post 18.78 EPS for the current year.

Insider Buying and Selling at Jackson Financial

In other news, EVP Carrie Chelko sold 5,500 shares of the company’s stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $91.31, for a total value of $502,205.00. Following the transaction, the executive vice president now directly 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 1.30% of the company’s stock.

Jackson Financial announced that its Board of Directors has authorized a share buyback plan on Wednesday, August 7th that allows the company to repurchase $750.00 million in shares. This repurchase authorization allows the company to repurchase up to 10.8% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s management believes its shares are undervalued.

Analysts Set New Price Targets

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

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.