Jackson Financial Inc. (NYSE:JXN) Announces Dividend Increase – $0.70 Per Share

Jackson Financial Inc. (NYSE:JXNGet Free Report) announced a quarterly dividend on Wednesday, February 21st, Zacks reports. Stockholders of record on Tuesday, March 12th will be given a dividend of 0.70 per share on Thursday, March 21st. This represents a $2.80 dividend on an annualized basis and a dividend yield of 4.75%. The ex-dividend date of this dividend is Monday, March 11th. This is a positive change from Jackson Financial’s previous quarterly dividend of $0.62.

Jackson Financial has a dividend payout ratio of 16.0% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Jackson Financial to earn $17.45 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 16.0%.

Jackson Financial Stock Performance

NYSE JXN opened at $58.97 on Friday. The firm has a 50-day moving average of $51.55 and a 200-day moving average of $45.41. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.33 and a current ratio of 0.33. The stock has a market cap of $4.56 billion, a PE ratio of 6.01 and a beta of 1.54. Jackson Financial has a 52-week low of $26.70 and a 52-week high of $59.93.

Jackson Financial (NYSE:JXNGet Free Report) last posted its earnings results on Wednesday, February 21st. The company reported $2.53 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.53 by ($1.00). The firm had revenue of $1.93 billion for the quarter, compared to the consensus estimate of $1.40 billion. The business’s revenue was up 3.3% compared to the same quarter last year. During the same period in the previous year, the company posted $5.66 EPS. On average, sell-side analysts anticipate that Jackson Financial will post 15.59 EPS for the current year.

Insider Buying and Selling at Jackson Financial

In other news, Director Derek G. Kirkland bought 3,500 shares of the firm’s stock in a transaction on 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 in the company, valued at $2,100,206.42. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 1.70% of the company’s stock.

Hedge Funds Weigh In On Jackson Financial

Several hedge funds have recently bought and sold shares of JXN. EJF Capital LLC increased its holdings in Jackson Financial by 2,218.3% in the 1st quarter. EJF Capital LLC now owns 1,759,620 shares of the company’s stock valued at $77,828,000 after buying an additional 1,683,720 shares during the period. Price T Rowe Associates Inc. MD grew its holdings in shares of Jackson Financial by 38.2% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 3,939,256 shares of the company’s stock valued at $105,375,000 after purchasing an additional 1,088,980 shares during the last quarter. State Street Corp grew its holdings in shares of Jackson Financial by 88.6% during the 2nd quarter. State Street Corp now owns 2,238,285 shares of the company’s stock valued at $59,874,000 after purchasing an additional 1,051,563 shares during the last quarter. Norges Bank bought a new stake in shares of Jackson Financial during the 4th quarter valued at approximately $30,748,000. Finally, Northern Trust Corp grew its holdings in shares of Jackson Financial by 285.0% during the 2nd quarter. Northern Trust Corp now owns 737,789 shares of the company’s stock valued at $19,735,000 after purchasing an additional 546,135 shares during the last quarter. 79.20% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the stock. Morgan Stanley lifted their price objective on shares of Jackson Financial from $49.00 to $52.00 and gave the stock an “equal weight” rating in a research note on Friday, March 1st. Keefe, Bruyette & Woods upgraded shares of Jackson Financial from a “market perform” rating to an “outperform” rating and lifted their price objective for the stock from $49.00 to $68.00 in a research note on Wednesday, February 28th. The Goldman Sachs Group lifted their price objective on shares of Jackson Financial from $39.00 to $47.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 9th. Finally, Jefferies Financial Group reiterated a “hold” rating and issued a $55.00 price objective on shares of Jackson Financial in a research note on Tuesday, January 2nd. Three analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, Jackson Financial presently has an average rating of “Hold” and a consensus target price of $55.50.

Check Out Our Latest Stock Analysis on Jackson Financial

About Jackson Financial

(Get Free Report)

Jackson Financial Inc, through its subsidiaries, primarily provides a 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.

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Dividend History for Jackson Financial (NYSE:JXN)

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