Axxcess Wealth Management LLC Sells 5,248 Shares of Jackson Financial Inc. (NYSE:JXN)

Axxcess Wealth Management LLC reduced its stake in shares of Jackson Financial Inc. (NYSE:JXN - Free Report) by 29.1% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,800 shares of the company's stock after selling 5,248 shares during the quarter. Axxcess Wealth Management LLC's holdings in Jackson Financial were worth $1,072,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. Atria Investments Inc raised its holdings in shares of Jackson Financial by 32.6% during the 4th quarter. Atria Investments Inc now owns 7,219 shares of the company's stock worth $629,000 after acquiring an additional 1,773 shares in the last quarter. Proficio Capital Partners LLC purchased a new stake in shares of Jackson Financial during the 4th quarter worth approximately $1,160,000. Raymond James Financial Inc. purchased a new stake in shares of Jackson Financial during the 4th quarter worth approximately $27,193,000. PNC Financial Services Group Inc. raised its holdings in shares of Jackson Financial by 6.8% during the 4th quarter. PNC Financial Services Group Inc. now owns 3,118 shares of the company's stock worth $272,000 after acquiring an additional 199 shares in the last quarter. Finally, Amundi raised its holdings in shares of Jackson Financial by 204.9% during the 4th quarter. Amundi now owns 75,657 shares of the company's stock worth $6,703,000 after acquiring an additional 50,847 shares in the last quarter. 89.96% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on JXN shares. Keefe, Bruyette & Woods upped their price objective on Jackson Financial from $100.00 to $102.00 and gave the stock a "market perform" rating in a report on Wednesday. Barclays upped their price objective on Jackson Financial from $108.00 to $114.00 and gave the stock an "overweight" rating in a report on Monday, July 7th. Finally, Morgan Stanley set a $91.00 price objective on Jackson Financial and gave the stock an "equal weight" rating in a report on Monday, May 19th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $96.40.

Jackson Financial Trading Down 0.8%

Shares of NYSE JXN traded down $0.75 during trading hours on Friday, hitting $87.14. 329,420 shares of the company traded hands, compared to its average volume of 755,154. The stock has a market capitalization of $6.23 billion, a price-to-earnings ratio of 84.61 and a beta of 1.47. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.43. The company's 50 day moving average price is $84.92 and its 200 day moving average price is $85.04. Jackson Financial Inc. has a 12 month low of $64.70 and a 12 month high of $115.22.

Jackson Financial (NYSE:JXN - Get Free Report) last released its earnings results on Wednesday, May 7th. The company reported $5.10 earnings per share for the quarter, beating the consensus estimate of $4.93 by $0.17. The firm had revenue of $3.75 billion for the quarter, compared to the consensus estimate of $1.80 billion. Jackson Financial had a return on equity of 15.46% and a net margin of 1.73%. The company's revenue for the quarter was down .6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $4.23 EPS. On average, equities research analysts anticipate that Jackson Financial Inc. will post 20.55 earnings per share for the current fiscal year.

Jackson Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 26th. Shareholders of record on Thursday, June 12th were given a $0.80 dividend. This represents a $3.20 annualized dividend and a yield of 3.67%. The ex-dividend date of this dividend was Thursday, June 12th. Jackson Financial's dividend payout ratio (DPR) is presently 310.68%.

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.