Jackson Financial Inc. (NYSE:JXN) Shares Sold by Axxcess Wealth Management LLC

Axxcess Wealth Management LLC reduced its position in shares of Jackson Financial Inc. (NYSE:JXN) by 22.5% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,321 shares of the company’s stock after selling 965 shares during the period. Axxcess Wealth Management LLC’s holdings in Jackson Financial were worth $220,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. GAMMA Investing LLC raised its position in shares of Jackson Financial by 47.0% during the 1st quarter. GAMMA Investing LLC now owns 482 shares of the company’s stock valued at $32,000 after acquiring an additional 154 shares in the last quarter. Daiwa Securities Group Inc. acquired a new stake in shares of Jackson Financial during the 4th quarter valued at approximately $36,000. Headlands Technologies LLC acquired a new stake in shares of Jackson Financial during the 4th quarter valued at approximately $38,000. Valued Wealth Advisors LLC acquired a new stake in shares of Jackson Financial during the 1st quarter valued at approximately $66,000. Finally, Kapitalo Investimentos Ltda acquired a new stake in shares of Jackson Financial during the 4th quarter valued at approximately $57,000. 89.96% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, CFO Don W. Cummings acquired 1,445 shares of the business’s stock in a transaction dated Wednesday, June 5th. The stock was acquired at an average price of $72.70 per share, for a total transaction of $105,051.50. Following the completion of the acquisition, the chief financial officer now directly owns 45,711 shares in the company, valued at approximately $3,323,189.70. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, COO Devkumar Dilip Ganguly sold 13,000 shares of the company’s stock in a transaction on Friday, May 10th. The stock was sold at an average price of $75.67, for a total value of $983,710.00. Following the completion of the sale, the chief operating officer now owns 93,405 shares in the company, valued at $7,067,956.35. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Don W. Cummings acquired 1,445 shares of the business’s stock in a transaction dated Wednesday, June 5th. The stock was purchased at an average price of $72.70 per share, with a total value of $105,051.50. Following the acquisition, the chief financial officer now owns 45,711 shares of the company’s stock, valued at $3,323,189.70. The disclosure for this purchase can be found here. Insiders own 1.30% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on JXN. Evercore ISI lowered their price objective on Jackson Financial from $75.00 to $73.00 and set an “in-line” rating for the company in a research note on Wednesday, June 26th. Keefe, Bruyette & Woods downgraded Jackson Financial from an “outperform” rating to a “market perform” rating and upped their price objective for the stock from $75.00 to $80.00 in a research note on Tuesday, May 14th. Jefferies Financial Group upped their price objective on Jackson Financial from $62.00 to $70.00 and gave the stock a “hold” rating in a research note on Friday, June 28th. Finally, Morgan Stanley upped their price objective on Jackson Financial from $82.00 to $84.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 10th. Five analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $70.80.

Jackson Financial Trading Up 3.0 %

NYSE:JXN opened at $87.84 on Friday. Jackson Financial Inc. has a 1 year low of $31.40 and a 1 year high of $88.12. The stock has a market cap of $6.70 billion, a price-to-earnings ratio of 2.32 and a beta of 1.51. The business has a fifty day moving average of $76.32 and a 200-day moving average of $65.90. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.32 and a current ratio of 0.32.

Jackson Financial (NYSE:JXN) last released its quarterly earnings results on Wednesday, May 8th. The company reported $4.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.67 by $0.56. The business had revenue of $2 billion during the quarter, compared to the consensus estimate of $1.67 billion. During the same period in the previous year, the company posted $3.15 EPS. The company’s revenue for the quarter was up 5.8% compared to the same quarter last year. Equities analysts predict that Jackson Financial Inc. will post 17.33 earnings per share for the current year.

Jackson Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 20th. Stockholders of record on Thursday, June 6th were issued a $0.70 dividend. The ex-dividend date of this dividend was Thursday, June 6th. This represents a $2.80 annualized dividend and a dividend yield of 3.19%. Jackson Financial’s dividend payout ratio (DPR) is 7.40%.

Jackson Financial 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.