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

Axxcess Wealth Management LLC trimmed its position in Jackson Financial Inc. (NYSE:JXN - Free Report) by 29.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 12,800 shares of the company's stock after selling 5,248 shares during the period. Axxcess Wealth Management LLC's holdings in Jackson Financial were worth $1,072,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. Quarry LP bought a new position in Jackson Financial in the fourth quarter valued at about $28,000. NBC Securities Inc. bought a new position in Jackson Financial in the first quarter valued at about $37,000. Versant Capital Management Inc lifted its holdings in Jackson Financial by 161.9% in the first quarter. Versant Capital Management Inc now owns 550 shares of the company's stock valued at $46,000 after acquiring an additional 340 shares during the period. HWG Holdings LP bought a new position in Jackson Financial in the first quarter valued at about $72,000. Finally, Kapitalo Investimentos Ltda bought a new position in Jackson Financial in the fourth quarter valued at about $79,000. 89.96% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms recently issued reports on JXN. Morgan Stanley set a $91.00 target price on Jackson Financial and gave the stock an "equal weight" rating in a research report on Monday, May 19th. Barclays increased their target price on Jackson Financial from $108.00 to $114.00 and gave the stock an "overweight" rating in a research report on Monday, July 7th. Finally, Keefe, Bruyette & Woods increased their target price on Jackson Financial from $100.00 to $102.00 and gave the stock a "market perform" rating in a research report on Wednesday, July 9th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $96.40.

Jackson Financial Price Performance

NYSE JXN traded down $3.11 during trading on Tuesday, hitting $84.97. 582,076 shares of the stock traded hands, compared to its average volume of 752,987. The company has a market capitalization of $6.07 billion, a P/E ratio of 82.50 and a beta of 1.47. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.43. The firm has a 50-day simple moving average of $84.92 and a 200-day simple moving average of $85.00. 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 issued its quarterly earnings results on Wednesday, May 7th. The company reported $5.10 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $4.93 by $0.17. Jackson Financial had a return on equity of 15.46% and a net margin of 1.73%. The firm had revenue of $3.75 billion during the quarter, compared to analyst estimates of $1.80 billion. During the same period last year, the company earned $4.23 EPS. Jackson Financial's quarterly revenue was down .6% compared to the same quarter last year. As a group, analysts predict that Jackson Financial Inc. will post 20.55 EPS for the current year.

Jackson Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 26th. Investors of record on Thursday, June 12th were given a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a yield of 3.77%. The ex-dividend date was Thursday, June 12th. Jackson Financial's dividend payout ratio is currently 310.68%.

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.