Axxcess Wealth Management LLC Sells 965 Shares of Jackson Financial Inc. (NYSE:JXN)

Axxcess Wealth Management LLC decreased its position in Jackson Financial Inc. (NYSE:JXN) by 22.5% in the 1st quarter, Holdings Channel.com reports. 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 quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. GAMMA Investing LLC grew its holdings in shares of Jackson Financial by 47.0% in the 1st quarter. GAMMA Investing LLC now owns 482 shares of the company’s stock valued at $32,000 after buying an additional 154 shares during the period. Hexagon Capital Partners LLC grew its holdings in shares of Jackson Financial by 18.1% in the 1st quarter. Hexagon Capital Partners LLC now owns 1,532 shares of the company’s stock valued at $101,000 after buying an additional 235 shares during the period. Asset Allocation Strategies LLC grew its holdings in shares of Jackson Financial by 1.4% in the 4th quarter. Asset Allocation Strategies LLC now owns 17,310 shares of the company’s stock valued at $886,000 after buying an additional 242 shares during the period. Nomura Asset Management Co. Ltd. lifted its position in Jackson Financial by 18.0% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 1,640 shares of the company’s stock valued at $84,000 after acquiring an additional 250 shares in the last quarter. Finally, Private Trust Co. NA lifted its position in Jackson Financial by 10.2% in the 4th quarter. Private Trust Co. NA now owns 3,156 shares of the company’s stock valued at $162,000 after acquiring an additional 292 shares in the last quarter. Institutional investors and hedge funds own 89.96% of the company’s stock.

Insider Activity

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

Analyst Ratings Changes

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

Jackson Financial Trading Up 3.0 %

Shares of NYSE:JXN opened at $87.84 on Friday. The company’s 50-day moving average price is $76.32 and its two-hundred day moving average price is $65.90. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.32 and a quick ratio of 0.32. Jackson Financial Inc. has a one year low of $31.40 and a one year high of $88.12. The stock has a market capitalization of $6.70 billion, a PE ratio of 2.32 and a beta of 1.51.

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

Jackson Financial Announces Dividend

The company also recently announced 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 dividend on an annualized basis and a dividend yield of 3.19%. Jackson Financial’s payout ratio 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.