Jackson Financial (NYSE:JXN) Reaches New 52-Week High After Dividend Announcement

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

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

Analyst Upgrades and Downgrades

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

Jackson Financial Trading Down 2.4 %

The firm has a market cap of $8.15 billion, a P/E ratio of 4.10 and a beta of 1.48. The business’s 50 day moving average is $93.64 and its 200-day moving average is $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 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 firm had revenue of $2.12 billion for the quarter, compared to analyst estimates of $1.73 billion. During the same quarter in the previous year, the business posted $3.80 EPS. As a group, analysts forecast that Jackson Financial Inc. will post 18.78 earnings per share for the current fiscal year.

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

Insider Activity

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 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 owns 61,829 shares of the company’s stock, valued at $5,645,605.99. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 1.30% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in JXN. Asset Allocation Strategies LLC boosted its stake in Jackson Financial by 0.6% during the 2nd quarter. Asset Allocation Strategies LLC now owns 18,926 shares of the company’s stock valued at $1,405,000 after purchasing an additional 119 shares during the period. Mutual of America Capital Management LLC raised its holdings in shares of Jackson Financial by 1.4% during the third quarter. Mutual of America Capital Management LLC now owns 11,316 shares of the company’s stock valued at $1,032,000 after buying an additional 159 shares during the last quarter. Private Advisor Group LLC boosted its position in shares of Jackson Financial by 1.2% during the second quarter. Private Advisor Group LLC now owns 14,962 shares of the company’s stock worth $1,111,000 after buying an additional 178 shares during the period. International Assets Investment Management LLC increased its position in Jackson Financial by 2.0% in the 2nd quarter. International Assets Investment Management LLC now owns 9,954 shares of the company’s stock valued at $739,000 after acquiring an additional 199 shares during the period. Finally, Blue Trust Inc. increased its position in Jackson Financial by 232.1% in the 3rd quarter. Blue Trust Inc. now owns 372 shares of the company’s stock valued at $34,000 after acquiring an additional 260 shares during the period. 89.96% of the stock is currently owned by institutional investors.

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.