Axxcess Wealth Management LLC Decreases Position in Jackson Financial Inc. (NYSE:JXN)

Axxcess Wealth Management LLC trimmed its position in Jackson Financial Inc. (NYSE:JXN) by 5.2% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 17,855 shares of the company’s stock after selling 976 shares during the period. Axxcess Wealth Management LLC’s holdings in Jackson Financial were worth $1,629,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of JXN. Hantz Financial Services Inc. acquired a new stake in shares of Jackson Financial in the second quarter worth approximately $25,000. EverSource Wealth Advisors LLC grew its holdings in shares of Jackson Financial by 400.0% during the first quarter. EverSource Wealth Advisors LLC now owns 395 shares of the company’s stock worth $27,000 after buying an additional 316 shares in the last quarter. Blue Trust Inc. raised its position in shares of Jackson Financial by 232.1% in the third quarter. Blue Trust Inc. now owns 372 shares of the company’s stock valued at $34,000 after buying an additional 260 shares during the last quarter. GAMMA Investing LLC lifted its stake in shares of Jackson Financial by 60.8% in the second quarter. GAMMA Investing LLC now owns 775 shares of the company’s stock worth $58,000 after buying an additional 293 shares in the last quarter. Finally, Headlands Technologies LLC boosted its position in Jackson Financial by 41.2% during the first quarter. Headlands Technologies LLC now owns 1,055 shares of the company’s stock worth $70,000 after acquiring an additional 308 shares during the last quarter. 89.96% of the stock is currently owned by hedge funds and other institutional investors.

Jackson Financial Price Performance

JXN stock opened at $113.30 on Tuesday. The business’s fifty day moving average price is $94.01 and its 200 day moving average price is $83.48. Jackson Financial Inc. has a 12-month low of $42.22 and a 12-month high of $115.22. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.42. The company has a market capitalization of $8.52 billion, a PE ratio of -8.96 and a beta of 1.48.

Jackson Financial (NYSE:JXN) last issued its quarterly earnings results on Wednesday, November 6th. The company reported $4.60 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.67 by ($0.07). The firm had revenue of $2.12 billion for the quarter, compared to analyst estimates of $1.73 billion. During the same quarter in the previous year, the company earned $3.80 earnings per share. On average, sell-side analysts anticipate that Jackson Financial Inc. will post 18.85 EPS for the current year.

Jackson Financial declared that its Board of Directors has initiated a share repurchase program on Wednesday, August 7th that permits the company to repurchase $750.00 million in shares. This repurchase authorization permits the company to reacquire up to 10.8% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s leadership believes its shares are undervalued.

Jackson Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Thursday, December 5th will be given a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.47%. The ex-dividend date of this dividend is Thursday, December 5th. Jackson Financial’s dividend payout ratio is currently -22.15%.

Insider Activity

In related news, EVP Carrie Chelko sold 5,500 shares of the business’s stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $91.31, for a total transaction of $502,205.00. Following the completion of the transaction, the executive vice president now directly owns 61,829 shares of the company’s stock, valued at $5,645,605.99. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 1.30% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on JXN. Jefferies Financial Group boosted their target price on Jackson Financial from $73.00 to $80.00 and gave the stock a “hold” rating in a report on Monday, July 29th. Barclays upped their target price on Jackson Financial from $109.00 to $111.00 and gave the company an “overweight” rating in a report on Tuesday, October 8th. Keefe, Bruyette & Woods raised their target price on Jackson Financial from $80.00 to $82.00 and gave the stock a “market perform” rating in a research note on Wednesday, August 14th. Finally, Morgan Stanley boosted their price target on shares of Jackson Financial from $86.00 to $89.00 and gave the company an “equal weight” rating in a research report on Monday, August 19th. Five analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $80.33.

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.