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

Axxcess Wealth Management LLC boosted its position in shares of Jackson Financial Inc. (NYSE:JXN) by 467.0% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 18,831 shares of the company’s stock after buying an additional 15,510 shares during the quarter. Axxcess Wealth Management LLC’s holdings in Jackson Financial were worth $1,398,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in JXN. Avantax Advisory Services Inc. acquired a new stake in Jackson Financial during the fourth quarter valued at $230,000. Vanguard Personalized Indexing Management LLC acquired a new stake in Jackson Financial during the fourth quarter valued at $316,000. Norges Bank acquired a new stake in Jackson Financial during the fourth quarter valued at $51,189,000. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Jackson Financial in the fourth quarter valued at about $567,000. Finally, BI Asset Management Fondsmaeglerselskab A S grew its position in shares of Jackson Financial by 214.2% in the fourth quarter. BI Asset Management Fondsmaeglerselskab A S now owns 34,072 shares of the company’s stock valued at $1,744,000 after purchasing an additional 23,228 shares during the period. Institutional investors and hedge funds own 89.96% of the company’s stock.

Jackson Financial Stock Performance

JXN opened at $87.04 on Thursday. The firm has a market capitalization of $6.64 billion, a PE ratio of 2.30 and a beta of 1.50. Jackson Financial Inc. has a twelve month low of $35.27 and a twelve month high of $90.10. The firm’s 50-day moving average price is $83.59 and its 200 day moving average price is $74.61. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.42.

Jackson Financial (NYSE:JXN) last posted its quarterly earnings results on Wednesday, August 7th. The company reported $5.32 earnings per share for the quarter, topping analysts’ consensus estimates of $4.32 by $1.00. The business had revenue of $2.01 billion for the quarter, compared to analyst estimates of $1.71 billion. The business’s revenue was up 5.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $3.34 earnings per share. As a group, sell-side analysts expect that Jackson Financial Inc. will post 18.49 EPS for the current fiscal year.

Jackson Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 19th. Shareholders of record on Thursday, September 5th will be paid a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 3.22%. The ex-dividend date is Thursday, September 5th. Jackson Financial’s dividend payout ratio (DPR) is presently 7.40%.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. Evercore ISI dropped their target price 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. Morgan Stanley lifted their target price 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. Barclays assumed coverage on shares of Jackson Financial in a research report on Wednesday, September 4th. They issued an “overweight” rating and a $109.00 target price on the stock. Keefe, Bruyette & Woods lifted their target price on shares of Jackson Financial from $80.00 to $82.00 and gave the company a “market perform” rating in a research report on Wednesday, August 14th. Finally, Jefferies Financial Group lifted their target price on shares of Jackson Financial from $73.00 to $80.00 and gave the company a “hold” rating in a research report on Monday, July 29th. Five research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $80.00.

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.