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. 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 is Thursday, June 6th.

Jackson Financial has a 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

NYSE JXN traded down $3.41 during trading on Friday, hitting $75.24. The company’s stock had a trading volume of 387,377 shares, compared to its average volume of 795,198. 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 has a 50 day moving average price of $65.34 and a 200 day moving average price of $54.11. The firm has a market cap of $5.82 billion, a P/E ratio of 8.01 and a beta of 1.54. Jackson Financial has a 52 week low of $27.24 and a 52 week high of $81.52.

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

Wall Street Analyst Weigh In

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

Insider Activity at Jackson Financial

In related news, Director Derek G. Kirkland acquired 3,500 shares of the company’s stock in a transaction that occurred on Monday, March 4th. The stock was acquired at an average price of $55.67 per share, for a total transaction of $194,845.00. Following the completion of the acquisition, 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 legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.30% of the stock is currently owned by corporate 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.