Axxcess Wealth Management LLC Has $1.57 Million Stake in Jackson Financial Inc. (NYSE:JXN)

Axxcess Wealth Management LLC raised its stake in Jackson Financial Inc. (NYSE:JXN) by 1.1% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 18,048 shares of the company’s stock after buying an additional 193 shares during the period. Axxcess Wealth Management LLC’s holdings in Jackson Financial were worth $1,572,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in JXN. Raymond James Financial Inc. acquired a new position in Jackson Financial in the fourth quarter valued at about $27,193,000. Charles Schwab Investment Management Inc. lifted its stake in Jackson Financial by 40.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,050,903 shares of the company’s stock valued at $95,874,000 after buying an additional 300,520 shares during the period. Victory Capital Management Inc. lifted its stake in Jackson Financial by 196.4% in the fourth quarter. Victory Capital Management Inc. now owns 447,245 shares of the company’s stock valued at $38,946,000 after buying an additional 296,367 shares during the period. Nisa Investment Advisors LLC increased its holdings in shares of Jackson Financial by 6,642.6% in the fourth quarter. Nisa Investment Advisors LLC now owns 226,418 shares of the company’s stock worth $19,716,000 after acquiring an additional 223,060 shares in the last quarter. Finally, Four Tree Island Advisory LLC bought a new stake in shares of Jackson Financial in the fourth quarter worth about $19,298,000. Institutional investors and hedge funds own 89.96% of the company’s stock.

Insider Buying and Selling

In related news, CEO Scott Romine sold 7,000 shares of the stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $84.43, for a total transaction of $591,010.00. Following the completion of the transaction, the chief executive officer now directly owns 85,276 shares of the company’s stock, valued at approximately $7,199,852.68. This represents a 7.59 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.30% of the stock is owned by corporate insiders.

Jackson Financial Stock Up 1.9 %

NYSE:JXN opened at $84.20 on Thursday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.30 and a current ratio of 0.30. The company has a market cap of $6.12 billion, a PE ratio of 7.35 and a beta of 1.48. Jackson Financial Inc. has a 52-week low of $62.17 and a 52-week high of $115.22. The stock has a 50-day simple moving average of $89.45 and a 200 day simple moving average of $92.71.

Jackson Financial (NYSE:JXN) last posted its quarterly earnings data on Wednesday, February 19th. The company reported $4.65 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.72 by ($0.07). The company had revenue of $1.81 billion during the quarter, compared to analyst estimates of $1.81 billion. On average, sell-side analysts expect that Jackson Financial Inc. will post 20.55 EPS for the current fiscal year.

Jackson Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Tuesday, March 11th will be issued a dividend of $0.80 per share. The ex-dividend date of this dividend is Tuesday, March 11th. This is an increase from Jackson Financial’s previous quarterly dividend of $0.70. This represents a $3.20 dividend on an annualized basis and a dividend yield of 3.80%. Jackson Financial’s dividend payout ratio (DPR) is presently 27.95%.

Analysts Set New Price Targets

Several equities research analysts have issued reports on JXN shares. Keefe, Bruyette & Woods increased their price target on Jackson Financial from $103.00 to $105.00 and gave the stock a “market perform” rating in a report on Friday, February 28th. Barclays increased their price target on Jackson Financial from $116.00 to $118.00 and gave the stock an “overweight” rating in a report on Thursday, February 20th. One analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $97.40.

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.