Jackson Financial Inc. (NYSE:JXN) Declares Dividend Increase – $0.80 Per Share

Jackson Financial Inc. (NYSE:JXN) announced a quarterly dividend on Wednesday, February 19th,RTT News reports. Shareholders of record on Tuesday, March 11th will be paid a dividend of 0.80 per share on Thursday, March 20th. This represents a $3.20 annualized dividend and a yield of 3.43%. This is an increase from Jackson Financial’s previous quarterly dividend of $0.70.

Jackson Financial has raised its dividend by an average of 77.6% annually over the last three years. Jackson Financial has a dividend payout ratio of 12.3% meaning its dividend is sufficiently covered by earnings. Analysts expect Jackson Financial to earn $20.55 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 13.6%.

Jackson Financial Stock Performance

NYSE JXN traded down $4.56 during trading hours on Wednesday, hitting $93.32. The company had a trading volume of 964,562 shares, compared to its average volume of 539,696. Jackson Financial has a fifty-two week low of $48.00 and a fifty-two week high of $115.22. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.42. The business has a fifty day simple moving average of $91.04 and a 200-day simple moving average of $92.46. The firm has a market cap of $6.89 billion, a P/E ratio of -7.38 and a beta of 1.47.

Insider Activity at Jackson Financial

In other news, Director Gregory T. Durant bought 1,500 shares of the firm’s stock in a transaction that occurred on Wednesday, December 11th. The stock was acquired at an average price of $90.28 per share, with a total value of $135,420.00. Following the completion of the purchase, the director now directly owns 32,023 shares of the company’s stock, valued at $2,891,036.44. This represents a 4.91 % increase in their position. The acquisition 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.

Analysts Set New Price Targets

A number of brokerages have recently commented on JXN. Barclays lowered their price target on Jackson Financial from $117.00 to $116.00 and set an “overweight” rating on the stock in a report on Monday, January 6th. Evercore ISI lowered Jackson Financial from an “in-line” rating to an “underperform” rating and raised their price target for the company from $74.00 to $95.00 in a report on Thursday, November 14th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $92.40.

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.