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

Jackson Financial Inc. (NYSE:JXN) announced a quarterly dividend on Wednesday, May 8th, Zacks reports. Stockholders of record on Thursday, June 6th will be given a dividend of 0.70 per share on Thursday, June 20th. This represents a $2.80 annualized dividend and a dividend 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 Trading Down 4.3 %

Shares of NYSE JXN traded down $3.41 during midday trading on Friday, reaching $75.24. The company had a trading volume of 387,377 shares, compared to its average volume of 795,198. Jackson Financial has a one year low of $27.24 and a one year high of $81.52. The company has a quick ratio of 0.33, a current ratio of 0.33 and a debt-to-equity ratio of 0.41. The firm’s fifty day moving average price is $65.34 and its 200-day moving average price is $54.11. The stock has a market cap of $5.82 billion, a PE ratio of 8.01 and a beta of 1.54.

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

Analysts Set New Price Targets

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

Insider Activity

In other news, Director Derek G. Kirkland purchased 3,500 shares of the stock in a transaction dated Monday, March 4th. The shares were purchased at an average cost of $55.67 per share, with a total value of $194,845.00. Following the acquisition, the director now directly owns 37,726 shares of the company’s stock, valued at $2,100,206.42. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 1.30% of the company’s stock.

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.