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

Jackson Financial Inc. (NYSE:JXN) declared a quarterly dividend on Wednesday, February 19th,RTT News reports. Stockholders 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 dividend on an annualized basis and a dividend yield of 3.43%. This is a positive change from Jackson Financial’s previous quarterly dividend of $0.70.

Jackson Financial has increased its dividend by an average of 77.6% annually over the last three years. Jackson Financial has a dividend payout ratio of 12.3% meaning its dividend is sufficiently covered by earnings. Equities 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 4.7 %

JXN opened at $93.32 on Thursday. 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 12-month low of $48.00 and a 12-month high of $115.22. The firm has a 50 day moving average of $91.26 and a two-hundred day moving average of $92.62.

Insider Buying and Selling at Jackson Financial

In other Jackson Financial news, Director Gregory T. Durant bought 1,500 shares of the company’s stock in a transaction dated Wednesday, December 11th. The shares were purchased at an average cost of $90.28 per share, for a total transaction of $135,420.00. Following the transaction, the director now directly owns 32,023 shares of the company’s stock, valued at approximately $2,891,036.44. The trade was a 4.91 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. 1.30% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of research firms recently issued reports on JXN. Barclays decreased their target price on shares of Jackson Financial from $117.00 to $116.00 and set an “overweight” rating for the company in a research report on Monday, January 6th. Evercore ISI downgraded Jackson Financial from an “in-line” rating to an “underperform” rating and upped their target price for the stock from $74.00 to $95.00 in a research note 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’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $92.40.

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.