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

by · The Markets Daily

Jackson Financial Inc. (NYSE:JXN – Get Free Report) announced a quarterly dividend on Wednesday, November 6th,NASDAQ Dividends reports. Investors of record on Thursday, December 5th will be paid a dividend of 0.70 per share on Thursday, December 19th. This represents a $2.80 dividend on an annualized basis 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. 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

JXN traded down $2.75 on Thursday, reaching $110.99. 1,126,106 shares of the stock were exchanged, compared to its average volume of 736,287. 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’s 50-day moving average price is $93.64 and its 200 day moving average price is $83.00. Jackson Financial has a fifty-two week low of $38.69 and a fifty-two week high of $115.09. The firm has a market capitalization of $8.35 billion, a PE ratio of 4.10 and a beta of 1.48.

Jackson Financial (NYSE:JXN – Get Free Report) last issued its earnings results on Wednesday, November 6th. The company reported $4.60 EPS for the quarter, missing the consensus estimate of $4.66 by ($0.06). The firm had revenue of $2.12 billion during the quarter, compared to the consensus estimate of $1.73 billion. During the same period last year, the firm posted $3.80 EPS. As a group, sell-side analysts forecast that Jackson Financial will post 18.78 EPS for the current fiscal year.

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

Wall Street Analyst Weigh In

JXN has been the topic of several research analyst reports. Barclays boosted their price target on shares of Jackson Financial from $109.00 to $111.00 and gave the company an “overweight” rating in a research report on Tuesday, October 8th. Jefferies Financial Group increased their price target on shares of Jackson Financial from $73.00 to $80.00 and gave the stock a “hold” rating in a research report on Monday, July 29th. Keefe, Bruyette & Woods increased 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 report on Wednesday, August 14th. Finally, Morgan Stanley increased their price objective on shares of Jackson Financial from $86.00 to $89.00 and gave the stock an “equal weight” rating in a research note on Monday, August 19th. Five analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $80.33.

Read Our Latest Stock Analysis on JXN

Insider Activity

In other news, EVP Carrie Chelko sold 5,500 shares of the company’s stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $91.31, for a total transaction of $502,205.00. Following the completion of the sale, the executive vice president now owns 61,829 shares in the company, valued at approximately $5,645,605.99. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 1.30% of the company’s stock.

Jackson Financial Company Profile

(Get Free Report)

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.

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