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

Jackson Financial Inc. (NYSE:JXN) declared a quarterly dividend on Wednesday, May 8th, Zacks reports. Investors 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 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, reaching $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 1-year low of $27.24 and a 1-year high of $81.52. The stock has a market cap of $5.83 billion, a P/E ratio of 8.01 and a beta of 1.54. The business has a 50-day simple moving average of $65.34 and a two-hundred day simple moving average of $54.11. The company has a current ratio of 0.33, a quick ratio of 0.33 and a debt-to-equity ratio of 0.41.

Jackson Financial (NYSE:JXN) last released its quarterly earnings results on Wednesday, May 8th. The company reported $4.23 earnings per share for the quarter, topping the consensus estimate of $3.67 by $0.56. The firm had revenue of $2 billion for the quarter, compared to analyst estimates of $1.67 billion. The business’s revenue for the quarter was up 5.8% on a year-over-year basis. During the same period in the previous year, the business posted $3.15 earnings per share. As a group, equities research analysts anticipate that Jackson Financial will post 15.95 earnings per share for the current fiscal year.

Analyst Ratings Changes

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

Insider Activity at Jackson Financial

In related news, Director Derek G. Kirkland bought 3,500 shares of the company’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 completion of the transaction, the director now directly owns 37,726 shares in the company, valued at approximately $2,100,206.42. The transaction was disclosed in a filing with the SEC, which is available at this link. 1.30% of the stock is owned by company insiders.

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.