Jackson Financial (NYSE:JXN) Board of Directors Authorizes Share Buyback Plan

Key Points

• Jackson Financial's Board of Directors has approved a $1.00 billion share buyback plan, allowing the company to repurchase up to 14.4% of its shares, signaling confidence in the stock's value.
• As of September 18th, various analysts have differing ratings on Jackson Financial, with a consensus rating of "Hold" and an average price target of $101.20.
• The company is set to pay a quarterly dividend of $0.80 on September 25th, resulting in an annual dividend yield of 3.2%.

Jackson Financial (NYSE:JXN - Get Free Report) declared that its Board of Directors has authorized a stock buyback plan on Thursday, September 18th, RTT News reports. The company plans to repurchase $1.00 billion in shares. This repurchase authorization authorizes the company to repurchase up to 14.4% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company's board believes its shares are undervalued.

Jackson Financial Stock Performance

NYSE:JXN traded up $0.65 during mid-day trading on Monday, hitting $101.44. The company's stock had a trading volume of 197,073 shares, compared to its average volume of 753,823. The stock has a market cap of $7.07 billion, a price-to-earnings ratio of -1,687.42 and a beta of 1.46. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.28 and a quick ratio of 0.28. Jackson Financial has a 1 year low of $64.70 and a 1 year high of $115.22. The business's fifty day moving average is $93.15 and its two-hundred day moving average is $85.92.

Jackson Financial (NYSE:JXN - Get Free Report) last issued its quarterly earnings results on Tuesday, August 5th. The company reported $4.87 EPS for the quarter, beating the consensus estimate of $4.61 by $0.26. Jackson Financial had a net margin of 1.73% and a return on equity of 14.73%. The company had revenue of ($471.00) million during the quarter, compared to analysts' expectations of $1.77 billion. During the same quarter last year, the company posted $5.32 EPS. The firm's revenue was down 3.3% compared to the same quarter last year. Analysts anticipate that Jackson Financial will post 20.55 EPS for the current fiscal year.

Jackson Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 25th. Shareholders of record on Monday, September 15th will be given a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a yield of 3.2%. The ex-dividend date is Monday, September 15th. Jackson Financial's dividend payout ratio is presently -5,333.33%.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on JXN. Zacks Research cut Jackson Financial from a "strong-buy" rating to a "hold" rating in a report on Friday, September 12th. Barclays boosted their price target on Jackson Financial from $108.00 to $114.00 and gave the company an "overweight" rating in a report on Monday, July 7th. Keefe, Bruyette & Woods boosted their price target on Jackson Financial from $102.00 to $105.00 and gave the company a "market perform" rating in a report on Monday, August 11th. Morgan Stanley increased their target price on Jackson Financial from $92.00 to $97.00 and gave the stock an "equal weight" rating in a research report on Monday, August 18th. Finally, Jefferies Financial Group increased their target price on Jackson Financial from $88.00 to $95.00 and gave the stock a "hold" rating in a research report on Monday, August 11th. One equities research analyst has rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, Jackson Financial currently has a consensus rating of "Hold" and a consensus price target of $101.20.

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.