Jackson Financial Inc. (NYSE:JXN) to Issue 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 3.76%. The ex-dividend date is Tuesday, March 11th. This is a boost from Jackson Financial’s previous quarterly dividend of $0.70.

Jackson Financial has increased its dividend payment by an average of 77.6% annually over the last three years. Jackson Financial has a payout ratio of 12.3% indicating that its dividend is sufficiently covered by earnings. Research 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 9.0 %

Shares of Jackson Financial stock opened at $85.16 on Friday. The business has a 50-day simple moving average of $91.13 and a 200-day simple moving average of $92.57. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.30 and a quick ratio of 0.30. Jackson Financial has a one year low of $48.00 and a one year high of $115.22.

Insider Buying and Selling

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 purchased at an average cost of $90.28 per share, with a total value of $135,420.00. Following the transaction, the director now directly owns 32,023 shares in the company, valued at $2,891,036.44. This trade represents a 4.91 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 1.30% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the stock. Barclays lifted their price objective on shares of Jackson Financial from $116.00 to $118.00 and gave the stock an “overweight” rating in a research report on Thursday. Evercore ISI downgraded Jackson Financial from an “in-line” rating to an “underperform” rating and lifted their price target for the stock from $74.00 to $95.00 in a report on Thursday, November 14th. One research analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $92.80.

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.