Donald Smith & CO. Inc. Sells 444,107 Shares of Jackson Financial Inc. (NYSE:JXN)

Donald Smith & CO. Inc. decreased its holdings in shares of Jackson Financial Inc. (NYSE:JXN) by 22.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,557,289 shares of the company’s stock after selling 444,107 shares during the quarter. Jackson Financial accounts for approximately 3.2% of Donald Smith & CO. Inc.’s holdings, making the stock its 9th biggest position. Donald Smith & CO. Inc.’s holdings in Jackson Financial were worth $135,609,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the business. Cerity Partners LLC boosted its position in Jackson Financial by 84.8% during the third quarter. Cerity Partners LLC now owns 8,022 shares of the company’s stock valued at $732,000 after purchasing an additional 3,681 shares during the last quarter. The Manufacturers Life Insurance Company raised its holdings in shares of Jackson Financial by 9.6% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 48,918 shares of the company’s stock valued at $4,463,000 after purchasing an additional 4,290 shares in the last quarter. FMR LLC boosted its holdings in Jackson Financial by 106.0% in the third quarter. FMR LLC now owns 174,505 shares of the company’s stock worth $15,920,000 after purchasing an additional 89,798 shares in the last quarter. Glenmede Trust Co. NA raised its holdings in Jackson Financial by 13.9% during the third quarter. Glenmede Trust Co. NA now owns 3,362 shares of the company’s stock valued at $307,000 after buying an additional 411 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Jackson Financial by 2.7% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 27,631 shares of the company’s stock worth $2,521,000 after acquiring an additional 714 shares in the last quarter. 89.96% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Insider Buying and Selling

In other news, CEO Scott Romine sold 7,000 shares of the stock in a transaction on Friday, March 7th. The shares were sold at an average price of $84.43, for a total value of $591,010.00. Following the completion of the transaction, the chief executive officer now owns 85,276 shares in the company, valued at approximately $7,199,852.68. This represents a 7.59 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.30% of the stock is owned by company insiders.

Jackson Financial Price Performance

NYSE:JXN opened at $87.20 on Thursday. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.30 and a quick ratio of 0.30. The stock has a market cap of $6.33 billion, a P/E ratio of 7.62 and a beta of 1.48. The company has a fifty day moving average price of $88.47 and a 200 day moving average price of $92.91. Jackson Financial Inc. has a one year low of $62.81 and a one year high of $115.22.

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

Jackson Financial Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Tuesday, March 11th were paid a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a dividend yield of 3.67%. This is a positive change from Jackson Financial’s previous quarterly dividend of $0.70. The ex-dividend date of this dividend was Tuesday, March 11th. Jackson Financial’s dividend payout ratio is presently 27.95%.

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.