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

Axxcess Wealth Management LLC acquired a new stake in shares of Jackson Financial Inc. (NYSE:JXN) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 4,286 shares of the company’s stock, valued at approximately $219,000.

Other large investors also recently added to or reduced their stakes in the company. Advisors Preferred LLC purchased a new position in Jackson Financial in the 4th quarter worth approximately $1,680,000. Teachers Retirement System of The State of Kentucky purchased a new position in Jackson Financial in the 3rd quarter worth approximately $871,000. Federated Hermes Inc. lifted its holdings in Jackson Financial by 58.8% in the 4th quarter. Federated Hermes Inc. now owns 521,266 shares of the company’s stock worth $26,689,000 after purchasing an additional 192,995 shares in the last quarter. Vanguard Group Inc. lifted its holdings in Jackson Financial by 16.1% in the 3rd quarter. Vanguard Group Inc. now owns 10,933,228 shares of the company’s stock worth $417,868,000 after purchasing an additional 1,518,547 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale lifted its holdings in Jackson Financial by 148.6% in the 4th quarter. DekaBank Deutsche Girozentrale now owns 97,616 shares of the company’s stock worth $4,982,000 after purchasing an additional 58,350 shares in the last quarter. 89.96% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on JXN. Morgan Stanley upped their price objective on Jackson Financial from $52.00 to $70.00 and gave the stock an “equal weight” rating in a report on Monday, April 15th. Evercore ISI upped their price objective on Jackson Financial from $55.00 to $62.00 and gave the stock an “in-line” rating in a report on Thursday, April 11th. Finally, Keefe, Bruyette & Woods upped their price objective on Jackson Financial from $68.00 to $75.00 and gave the stock an “outperform” rating in a report on Wednesday, April 10th. Four 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, Jackson Financial has a consensus rating of “Hold” and a consensus price target of $61.80.

Jackson Financial Stock Up 7.1 %

Shares of JXN opened at $78.62 on Friday. The business’s 50 day simple moving average is $65.34 and its 200-day simple moving average is $54.11. Jackson Financial Inc. has a 1 year low of $26.70 and a 1 year high of $81.52. The stock has a market capitalization of $6.09 billion, a price-to-earnings ratio of 8.01 and a beta of 1.54. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.33 and a quick ratio of 0.33.

Jackson Financial (NYSE:JXN) last released its quarterly earnings results on Wednesday, May 8th. The company reported $4.23 earnings per share for the quarter, beating the consensus estimate of $3.67 by $0.56. The company had revenue of $2 billion for the quarter, compared to analysts’ expectations of $1.67 billion. During the same quarter in the previous year, the company posted $3.15 EPS. The business’s quarterly revenue was up 5.8% on a year-over-year basis. As a group, equities analysts expect that Jackson Financial Inc. will post 15.95 earnings per share for the current fiscal year.

Jackson Financial Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 21st. Investors of record on Tuesday, March 12th were issued a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 3.56%. The ex-dividend date of this dividend was Monday, March 11th. This is a positive change from Jackson Financial’s previous quarterly dividend of $0.62. Jackson Financial’s dividend payout ratio is presently 28.54%.

Insider Activity at Jackson Financial

In related news, Director Derek G. Kirkland purchased 3,500 shares of the firm’s stock in a transaction that occurred on Monday, March 4th. The shares were bought at an average price of $55.67 per share, for a total transaction of $194,845.00. Following the acquisition, the director now owns 37,726 shares of the company’s stock, valued at approximately $2,100,206.42. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 1.30% of the stock is currently owned by insiders.

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.