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

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

The newly announced dividend which will be paid on Thursday, December 19th. Stockholders of record on Thursday, December 5th will be paid a dividend of $0.70 per share. The ex-dividend date is Thursday, December 5th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.58%. Jackson Financial’s dividend payout ratio is currently 10.34%.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on JXN shares. Barclays raised their price target 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. Jefferies Financial Group lifted their target price on Jackson Financial from $73.00 to $80.00 and gave the stock a “hold” rating in a research report on Monday, July 29th. Morgan Stanley increased 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. Finally, Keefe, Bruyette & Woods lifted their price objective on Jackson Financial from $80.00 to $82.00 and gave the stock a “market perform” rating in a report on Wednesday, August 14th. Five equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $80.33.

Jackson Financial Stock Performance

The company has a fifty day moving average of $93.64 and a two-hundred day moving average of $83.00. The stock has a market capitalization of $8.15 billion, a P/E ratio of 4.10 and a beta of 1.48. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.30 and a quick ratio of 0.30.

Jackson Financial (NYSE:JXN) last posted 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 company had revenue of $2.12 billion during the quarter, compared to analyst estimates of $1.73 billion. During the same quarter in the prior year, the company posted $3.80 earnings per share. On average, equities analysts anticipate that Jackson Financial Inc. will post 18.78 EPS for the current year.

Jackson Financial declared that its board has initiated a share buyback program on Wednesday, August 7th that allows the company to repurchase $750.00 million in outstanding shares. This repurchase authorization allows the company to repurchase up to 10.8% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board believes its stock is 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 Investors Weigh In On Jackson Financial

A number of hedge funds have recently added to or reduced their stakes in JXN. Hantz Financial Services Inc. acquired a new stake in shares of Jackson Financial in the 2nd quarter worth about $25,000. Blue Trust Inc. raised its holdings in shares of Jackson Financial by 232.1% during the third quarter. Blue Trust Inc. now owns 372 shares of the company’s stock valued at $34,000 after buying an additional 260 shares during the last quarter. EverSource Wealth Advisors LLC boosted its position in shares of Jackson Financial by 400.0% during the first quarter. EverSource Wealth Advisors LLC now owns 395 shares of the company’s stock worth $27,000 after buying an additional 316 shares during the period. GAMMA Investing LLC grew its holdings in Jackson Financial by 60.8% in the 2nd quarter. GAMMA Investing LLC now owns 775 shares of the company’s stock worth $58,000 after buying an additional 293 shares in the last quarter. Finally, CWM LLC increased its position in Jackson Financial by 80.5% in the 2nd quarter. CWM LLC now owns 1,025 shares of the company’s stock valued at $76,000 after acquiring an additional 457 shares during the period. 89.96% of the stock is currently owned by institutional investors.

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.