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

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

Jackson Financial has a payout ratio of 14.0% indicating that 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

Shares of NYSE:JXN opened at $110.99 on Friday. The business has a fifty day moving average price of $93.64 and a 200-day moving average price of $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 PE ratio of 4.10 and a beta of 1.48. Jackson Financial has a 1-year low of $38.69 and a 1-year high of $115.09.

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 the consensus estimate of $4.66 by ($0.06). The firm had revenue of $2.12 billion for the quarter, compared to analysts’ expectations of $1.73 billion. During the same quarter in the previous year, the company posted $3.80 EPS. As a group, equities analysts expect that Jackson Financial will post 18.78 EPS for the current fiscal year.

Insider Activity at Jackson Financial

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

Wall Street Analysts Forecast Growth

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

Jackson Financial announced that its Board of Directors has approved a stock repurchase plan 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 stock through open market purchases. Stock buyback plans are often an indication that the company’s management believes its stock is undervalued.

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.