Jackson Financial Inc. (NYSE:JXN) Declares Dividend Increase – $0.80 Per Share

Jackson Financial Inc. (NYSE:JXN) declared a quarterly dividend on Wednesday, February 19th, RTT News reports. Investors of record on Tuesday, March 11th will be paid a dividend of 0.80 per share on Thursday, March 20th. This represents a $3.20 annualized dividend and a yield of 3.78%. The ex-dividend date of this dividend is Tuesday, March 11th. This is a 14.3% increase from Jackson Financial’s previous quarterly dividend of $0.70.

Jackson Financial has increased its dividend payment by an average of 77.6% annually over the last three years. Jackson Financial has a payout ratio of 14.0% meaning its dividend is sufficiently covered by earnings. Research analysts expect Jackson Financial to earn $22.19 per share next year, which means the company should continue to be able to cover its $3.20 annual dividend with an expected future payout ratio of 14.4%.

Jackson Financial Stock Up 1.7 %

Shares of JXN stock opened at $84.73 on Friday. The stock has a market cap of $6.26 billion, a P/E ratio of 7.40 and a beta of 1.48. Jackson Financial has a one year low of $58.02 and a one year high of $115.22. The stock has a fifty day moving average price of $90.46 and a 200 day moving average price of $92.96. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.30 and a quick ratio of 0.30.

Jackson Financial (NYSE:JXN) last issued its earnings results on Wednesday, February 19th. The company reported $4.65 EPS for the quarter, missing the consensus estimate of $4.72 by ($0.07). The company had revenue of $1.81 billion during the quarter, compared to analysts’ expectations of $1.81 billion. Analysts predict that Jackson Financial will post 20.55 earnings per share for the current year.

Insider Activity at Jackson Financial

In other Jackson Financial news, Director Gregory T. Durant purchased 1,500 shares of the business’s stock in a transaction that occurred on Wednesday, December 11th. The stock was acquired at an average cost of $90.28 per share, with a total value of $135,420.00. Following the completion of the acquisition, the director now directly owns 32,023 shares of the company’s stock, valued at $2,891,036.44. This represents a 4.91 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 1.30% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research analysts recently commented on the company. Evercore ISI cut Jackson Financial from an “in-line” rating to an “underperform” rating and raised their target price for the stock from $74.00 to $95.00 in a research report on Thursday, November 14th. Barclays lifted their price objective on Jackson Financial from $116.00 to $118.00 and gave the company an “overweight” rating in a report on Thursday, February 20th. Finally, Keefe, Bruyette & Woods lifted their price objective on Jackson Financial from $103.00 to $105.00 and gave the company a “market perform” rating in a report on Friday, February 28th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $97.40.

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.