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

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 given a dividend of 0.70 per share on Thursday, December 19th. This represents a $2.80 annualized dividend and a dividend yield of 2.52%. The ex-dividend date of this dividend is Thursday, December 5th.

Jackson Financial has a payout ratio of 14.0% meaning its dividend is sufficiently covered by earnings. Equities 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 Stock Performance

Shares of JXN stock traded down $2.75 during trading on Thursday, reaching $110.99. The company had a trading volume of 1,126,106 shares, compared to its average volume of 736,287. The firm’s 50 day simple moving average is $93.17 and its two-hundred day simple moving average is $82.81. Jackson Financial has a one year low of $38.69 and a one year high of $115.09. 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 4.20 and a beta of 1.48.

Jackson Financial (NYSE:JXN) last released its quarterly earnings results on Wednesday, November 6th. The company reported $4.60 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 the consensus estimate of $1.73 billion. During the same quarter last year, the company posted $3.80 earnings per share. Sell-side analysts forecast that Jackson Financial will post 18.78 earnings per share for the current year.

Insider Activity at Jackson Financial

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

Jackson Financial announced that its board has initiated a share buyback plan on Wednesday, August 7th that permits the company to buyback $750.00 million in shares. This buyback authorization permits the company to purchase up to 10.8% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on JXN. 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 research note on Wednesday, August 14th. Barclays upped their price target on Jackson Financial from $109.00 to $111.00 and gave the stock an “overweight” rating in a report on Tuesday, October 8th. Jefferies Financial Group raised 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. Finally, Morgan Stanley boosted their target price on shares of Jackson Financial from $86.00 to $89.00 and gave the stock an “equal weight” rating in a research report on Monday, August 19th. Five research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, Jackson Financial currently has a consensus rating of “Hold” and a consensus target price 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.