Jackson Financial Inc. (NYSE:JXN) Raises Dividend to $0.80 Per Share

Jackson Financial Inc. (NYSE:JXN - Get Free Report) declared a quarterly dividend on Wednesday, February 19th, RTT News reports. Shareholders of record on Tuesday, March 11th will be given a dividend of 0.80 per share on Thursday, March 20th. This represents a $3.20 dividend on an annualized basis and a yield of 3.92%. The ex-dividend date of this dividend is Tuesday, March 11th. This is a boost from Jackson Financial's previous quarterly dividend of $0.70.

Jackson Financial has raised its dividend by an average of 77.6% per year 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 Down 4.4 %

Shares of NYSE JXN traded down $3.77 during midday trading on Friday, reaching $81.63. 1,357,525 shares of the company's stock traded hands, compared to its average volume of 584,610. The company has a market cap of $6.03 billion, a price-to-earnings ratio of -6.46 and a beta of 1.47. The stock's 50 day simple moving average is $90.93 and its 200-day simple moving average is $92.65. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.42. Jackson Financial has a one year low of $48.00 and a one year high of $115.22.

Jackson Financial (NYSE:JXN - Get Free Report) last announced its quarterly earnings results on Wednesday, February 19th. The company reported $4.65 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $4.72 by ($0.07). The firm had revenue of $1.81 billion during the quarter, compared to analyst estimates of $1.81 billion. On average, analysts predict that Jackson Financial will post 18.85 EPS for the current fiscal year.

Insider Transactions at Jackson Financial

In related news, Director Gregory T. Durant bought 1,500 shares of the company's stock in a transaction on Wednesday, December 11th. The shares were bought at an average price of $90.28 per share, with a total value of $135,420.00. Following the transaction, the director now owns 32,023 shares in the company, valued at approximately $2,891,036.44. This trade represents a 4.91 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.30% of the company's stock.

Wall Street Analyst Weigh In

JXN has been the subject of several analyst reports. Barclays increased their price target on shares of Jackson Financial from $116.00 to $118.00 and gave the company an "overweight" rating in a research report on Thursday. Evercore ISI cut shares of Jackson Financial from an "in-line" rating to an "underperform" rating and increased their target price for the company from $74.00 to $95.00 in a research report on Thursday, November 14th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $92.80.

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.