Jackson Financial Inc. (NYSE:JXN) Stock Position Cut by Donald Smith & CO. Inc.

Donald Smith & CO. Inc. cut its holdings in shares of Jackson Financial Inc. (NYSE:JXN) by 8.5% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund 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 holdings, making the stock its 6th largest holding. Donald Smith & CO. Inc. owned about 2.85% of Jackson Financial worth $161,487,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of JXN. Norges Bank purchased a new stake in Jackson Financial during the 4th quarter worth approximately $51,189,000. Acadian Asset Management LLC grew its position in shares of Jackson Financial by 146.3% in the 2nd quarter. Acadian Asset Management LLC now owns 1,219,218 shares of the company’s stock worth $90,525,000 after acquiring an additional 724,148 shares in the last quarter. LSV Asset Management grew its position in shares of Jackson Financial by 2,459.7% in the 2nd quarter. LSV Asset Management now owns 439,339 shares of the company’s stock worth $32,625,000 after acquiring an additional 422,175 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in shares of Jackson Financial in the 1st quarter worth approximately $21,892,000. Finally, Vest Financial LLC grew its position in shares of Jackson Financial by 6,248.0% in the 1st quarter. Vest Financial LLC now owns 298,928 shares of the company’s stock worth $19,771,000 after acquiring an additional 294,219 shares in the last quarter. 89.96% of the stock is currently owned by hedge funds and other institutional investors.

Jackson Financial Trading Up 1.6 %

Shares of JXN stock opened at $83.60 on Monday. 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 Inc. has a 1 year low of $35.27 and a 1 year high of $90.10. The stock has a fifty day moving average of $82.91 and a two-hundred day moving average of $74.10. The firm has a market capitalization of $6.38 billion, a PE ratio of 2.21 and a beta of 1.50.

Jackson Financial (NYSE:JXN) last announced its quarterly earnings results on Wednesday, August 7th. The company reported $5.32 earnings per share (EPS) 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. During the same quarter last year, the firm posted $3.34 EPS. The company’s revenue was up 5.0% compared to the same quarter last year. As a group, research analysts expect that Jackson Financial Inc. will post 18.49 EPS for the current year.

Jackson Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 19th. Stockholders of record on Thursday, September 5th will be paid a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.35%. The ex-dividend date of this dividend is Thursday, September 5th. Jackson Financial’s dividend payout ratio is presently 7.40%.

Analysts Set New Price Targets

Several research analysts have recently commented on JXN shares. Barclays started coverage on Jackson Financial in a research report on Wednesday, September 4th. They issued an “overweight” rating and a $109.00 target price for the company. Keefe, Bruyette & Woods lifted their target price on Jackson Financial from $80.00 to $82.00 and gave the stock a “market perform” rating in a research report on Wednesday, August 14th. Jefferies Financial Group boosted their price objective on Jackson Financial from $73.00 to $80.00 and gave the company a “hold” rating in a research report on Monday, July 29th. Evercore ISI reduced their price objective on Jackson Financial from $75.00 to $73.00 and set an “in-line” rating for the company in a research report on Wednesday, June 26th. Finally, Morgan Stanley boosted their price objective on Jackson Financial from $86.00 to $89.00 and gave the company an “equal weight” rating in a research report on Monday, August 19th. Five investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, Jackson Financial currently has a consensus rating of “Hold” and an average 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.