Jackson Financial Inc. (NYSE:JXN) Declares Dividend Increase – $0.90 Per Share

Jackson Financial Inc. (NYSE:JXN) declared a quarterly dividend on Wednesday, February 18th. Investors of record on Monday, March 16th will be given a dividend of 0.90 per share on Thursday, March 26th. This represents a c) dividend on an annualized basis and a yield of 3.1%. The ex-dividend date of this dividend is Monday, March 16th. This is a 12.5% increase from Jackson Financial’s previous quarterly dividend of $0.80.

Jackson Financial has a dividend payout ratio of 15.1% meaning its dividend is sufficiently covered by earnings. Research analysts expect Jackson Financial to earn $22.19 per share next year, which means the company should continue to be able to cover its $3.20 annual dividend with an expected future payout ratio of 14.4%.

Jackson Financial Price Performance

Jackson Financial stock traded down $0.18 during trading hours on Thursday, hitting $116.75. The stock had a trading volume of 79,511 shares, compared to its average volume of 531,685. The stock’s fifty day moving average is $112.63 and its two-hundred day moving average is $102.49. Jackson Financial has a 1-year low of $64.70 and a 1-year high of $123.61. The stock has a market capitalization of $7.94 billion, a price-to-earnings ratio of 16.15 and a beta of 1.45. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.27 and a quick ratio of 0.27.

Jackson Financial (NYSE:JXN) last issued its quarterly earnings data on Wednesday, February 18th. The company reported $6.61 EPS for the quarter, topping analysts’ consensus estimates of $5.90 by $0.71. The company had revenue of $1.99 billion for the quarter, compared to analyst estimates of $1.92 billion. During the same quarter in the prior year, the firm earned $4.65 EPS. The company’s revenue for the quarter was down 2.8% compared to the same quarter last year. As a group, analysts predict that Jackson Financial will post 20.55 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Jackson Financial

A number of institutional investors and hedge funds have recently made changes to their positions in JXN. Corient Private Wealth LLC boosted its position in Jackson Financial by 7.4% during the 4th quarter. Corient Private Wealth LLC now owns 12,523 shares of the company’s stock valued at $1,336,000 after acquiring an additional 867 shares in the last quarter. Mercer Global Advisors Inc. ADV raised its stake in shares of Jackson Financial by 8.2% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 18,311 shares of the company’s stock valued at $1,953,000 after acquiring an additional 1,383 shares during the period. State of Tennessee Department of Treasury grew its position in shares of Jackson Financial by 7.0% during the fourth quarter. State of Tennessee Department of Treasury now owns 38,446 shares of the company’s stock worth $4,100,000 after buying an additional 2,515 shares in the last quarter. EP Wealth Advisors LLC purchased a new position in shares of Jackson Financial in the 4th quarter valued at $345,000. Finally, Mackenzie Financial Corp lifted its stake in shares of Jackson Financial by 1.3% in the 4th quarter. Mackenzie Financial Corp now owns 27,700 shares of the company’s stock worth $2,974,000 after acquiring an additional 349 shares during the period. Institutional investors own 89.96% of the company’s stock.

About Jackson Financial

Jackson Financial Inc is a U.S.-based financial services holding company headquartered in Lansing, Michigan. The company operates primarily through its principal subsidiary, Jackson National Life Insurance Company, and specializes in designing and distributing retirement products. Jackson Financial has been publicly traded on the New York Stock Exchange under the ticker JXN since its initial public offering in May 2022.

The company’s core offerings include a broad range of fixed, variable and indexed annuity products aimed at helping individuals preserve and grow retirement assets.