Jackson Financial Inc. (JXN) to Issue Quarterly Dividend of $0.70 on December 19th

Jackson Financial Inc. (NYSE:JXN) announced a quarterly dividend on Wednesday, November 6th,NASDAQ Dividends reports. Investors 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 dividend on an annualized basis and a yield of 2.79%. The ex-dividend date is Thursday, December 5th.

Jackson Financial has a dividend payout ratio of 13.4% indicating that its dividend is sufficiently covered by earnings. Analysts expect Jackson Financial to earn $20.41 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 13.7%.

Jackson Financial Price Performance

Shares of NYSE:JXN opened at $100.38 on Tuesday. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.42. Jackson Financial has a twelve month low of $46.96 and a twelve month high of $115.22. The company has a 50 day moving average of $99.54 and a 200-day moving average of $86.83.

Jackson Financial (NYSE:JXN) last announced its quarterly earnings data on Wednesday, November 6th. The company reported $4.60 EPS for the quarter, missing analysts’ consensus estimates of $4.67 by ($0.07). The business had revenue of $2.12 billion during the quarter, compared to analysts’ expectations of $1.73 billion. During the same quarter last year, the firm earned $3.80 EPS. On average, research analysts expect that Jackson Financial will post 18.8 earnings per share for the current year.

Analyst Ratings Changes

Several brokerages recently issued reports on JXN. Keefe, Bruyette & Woods boosted their price target on shares of Jackson Financial from $80.00 to $82.00 and gave the company a “market perform” rating in a research report on Wednesday, August 14th. Barclays raised their target price on shares of Jackson Financial from $109.00 to $111.00 and gave the company an “overweight” rating in a research note on Tuesday, October 8th. Morgan Stanley increased their price target on Jackson Financial from $86.00 to $89.00 and gave the stock an “equal weight” rating in a research report on Monday, August 19th. Finally, Evercore ISI downgraded shares of Jackson Financial from an “in-line” rating to an “underperform” rating and lifted their target price for the company from $74.00 to $95.00 in a report on Thursday, November 14th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, Jackson Financial currently has a consensus rating of “Hold” and a consensus target price of $84.00.

Insider Activity at Jackson Financial

In other Jackson Financial news, EVP Carrie Chelko sold 5,500 shares of the company’s 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 of the company’s stock, valued at $5,645,605.99. This represents a 8.17 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.30% of the stock is currently owned by corporate insiders.

Jackson Financial announced that its board has approved a stock repurchase program on Wednesday, August 7th that allows the company to buyback $750.00 million in shares. This buyback authorization allows the company to repurchase up to 10.8% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s board of directors 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.