Donald Smith & CO. Inc. Reduces Stock Position in Jackson Financial Inc. (NYSE:JXN)

Donald Smith & CO. Inc. cut its stake in shares of Jackson Financial Inc. (NYSE:JXN) by 8.5% during the second quarter, Holdings Channel reports. The firm owned 2,174,622 shares of the company’s stock after selling 201,854 shares during the quarter. Jackson Financial makes up approximately 4.1% of Donald Smith & CO. Inc.’s portfolio, making the stock its 6th largest holding. Donald Smith & CO. Inc.’s holdings in Jackson Financial were worth $161,487,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of JXN. International Assets Investment Management LLC acquired a new stake in shares of Jackson Financial during the fourth quarter worth $497,000. QRG Capital Management Inc. raised its position in shares of Jackson Financial by 52.9% during the fourth quarter. QRG Capital Management Inc. now owns 8,785 shares of the company’s stock worth $450,000 after purchasing an additional 3,041 shares during the period. Avantax Advisory Services Inc. acquired a new stake in shares of Jackson Financial during the fourth quarter worth $230,000. Massachusetts Financial Services Co. MA raised its position in shares of Jackson Financial by 23.4% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 97,391 shares of the company’s stock worth $4,986,000 after purchasing an additional 18,472 shares during the period. Finally, Vanguard Personalized Indexing Management LLC acquired a new stake in shares of Jackson Financial during the fourth quarter worth $316,000. 89.96% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts recently weighed in on JXN shares. Evercore ISI dropped their price target on 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 boosted their target price on Jackson Financial from $80.00 to $82.00 and gave the company a “market perform” rating in a research note on Wednesday, August 14th. Morgan Stanley boosted their target price on Jackson Financial from $86.00 to $89.00 and gave the company an “equal weight” rating in a research note on Monday, August 19th. Jefferies Financial Group boosted their target price on Jackson Financial from $73.00 to $80.00 and gave the company a “hold” rating in a research note on Monday, July 29th. Finally, Barclays assumed coverage on Jackson Financial in a research note on Wednesday, September 4th. They issued an “overweight” rating and a $109.00 target price on the stock. Five analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $80.00.

Jackson Financial Stock Performance

JXN opened at $83.60 on Monday. The company has a market cap of $6.38 billion, a PE ratio of 2.21 and a beta of 1.50. The stock has a 50-day moving average of $82.91 and a 200-day moving average of $74.10. Jackson Financial Inc. has a 52-week low of $35.27 and a 52-week high of $90.10. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.30 and a current ratio of 0.30.

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

Jackson Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 19th. Investors of record on Thursday, September 5th will be paid a dividend of $0.70 per share. The ex-dividend date is Thursday, September 5th. This represents a $2.80 annualized dividend and a yield of 3.35%. 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.