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

Jackson Financial Inc. (NYSE:JXN) declared a quarterly dividend on Wednesday, May 8th, Zacks reports. Shareholders of record on Thursday, June 6th will be paid a dividend of 0.70 per share on Thursday, June 20th. This represents a $2.80 annualized dividend and a yield of 3.72%. The ex-dividend date of this dividend is Thursday, June 6th.

Jackson Financial has a dividend payout ratio of 15.7% indicating that its dividend is sufficiently covered by earnings. Analysts expect Jackson Financial to earn $17.68 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 15.8%.

Jackson Financial Stock Performance

Shares of JXN traded down $3.32 during mid-day trading on Friday, hitting $75.33. The company’s stock had a trading volume of 288,977 shares, compared to its average volume of 794,142. Jackson Financial has a one year low of $27.24 and a one year high of $81.52. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.33 and a current ratio of 0.33. The firm has a market capitalization of $5.83 billion, a PE ratio of 8.01 and a beta of 1.54. The stock’s 50-day moving average is $65.34 and its two-hundred day moving average is $54.11.

Jackson Financial (NYSE:JXN) last posted its quarterly earnings data on Wednesday, May 8th. The company reported $4.23 earnings per share for the quarter, beating the consensus estimate of $3.67 by $0.56. The business had revenue of $2 billion during the quarter, compared to the consensus estimate of $1.67 billion. During the same period in the prior year, the company posted $3.15 earnings per share. The firm’s revenue was up 5.8% compared to the same quarter last year. As a group, sell-side analysts anticipate that Jackson Financial will post 15.95 EPS for the current year.

Wall Street Analyst Weigh In

JXN has been the subject of several research reports. Keefe, Bruyette & Woods raised their target price on Jackson Financial from $68.00 to $75.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 10th. Morgan Stanley lifted their price objective on Jackson Financial from $52.00 to $70.00 and gave the company an “equal weight” rating in a report on Monday, April 15th. Finally, Evercore ISI lifted their price objective on Jackson Financial from $55.00 to $62.00 and gave the company an “in-line” rating in a report on Thursday, April 11th. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $61.80.

Insider Buying and Selling at Jackson Financial

In other news, Director Derek G. Kirkland bought 3,500 shares of the business’s stock in a transaction on Monday, March 4th. The shares were purchased at an average price of $55.67 per share, for a total transaction of $194,845.00. Following the purchase, the director now owns 37,726 shares of the company’s stock, valued at approximately $2,100,206.42. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 1.30% of the company’s stock.

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.