Jackson Financial Inc. $JXN Shares Bought by Donald Smith & CO. Inc.

Donald Smith & CO. Inc. raised its holdings in Jackson Financial Inc. (NYSE:JXN) by 2.0% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,699,087 shares of the company’s stock after purchasing an additional 33,040 shares during the quarter. Jackson Financial accounts for 3.6% of Donald Smith & CO. Inc.’s holdings, making the stock its 7th largest holding. Donald Smith & CO. Inc. owned 2.38% of Jackson Financial worth $150,862,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Norges Bank purchased a new stake in Jackson Financial in the 2nd quarter valued at about $102,131,000. Nuveen LLC acquired a new stake in shares of Jackson Financial during the first quarter valued at about $43,830,000. Millennium Management LLC raised its stake in shares of Jackson Financial by 296.7% in the 1st quarter. Millennium Management LLC now owns 658,468 shares of the company’s stock valued at $55,166,000 after acquiring an additional 492,492 shares during the period. LSV Asset Management lifted its holdings in shares of Jackson Financial by 28.3% in the 2nd quarter. LSV Asset Management now owns 836,238 shares of the company’s stock worth $74,250,000 after acquiring an additional 184,440 shares during the last quarter. Finally, Cubist Systematic Strategies LLC boosted its position in shares of Jackson Financial by 144.4% during the 1st quarter. Cubist Systematic Strategies LLC now owns 253,504 shares of the company’s stock worth $21,239,000 after purchasing an additional 149,799 shares during the period. 89.96% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have recently commented on JXN shares. Zacks Research upgraded Jackson Financial from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 13th. Weiss Ratings reissued a “hold (c+)” rating on shares of Jackson Financial in a research note on Monday, December 1st. Keefe, Bruyette & Woods lifted their target price on Jackson Financial from $105.00 to $110.00 and gave the company a “market perform” rating in a research report on Thursday, October 9th. Morgan Stanley cut their price target on shares of Jackson Financial from $106.00 to $101.00 and set an “equal weight” rating on the stock in a research note on Monday, November 17th. Finally, Jefferies Financial Group lifted their target price on Jackson Financial from $88.00 to $95.00 and gave the company a “hold” rating in a report on Monday, August 11th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Jackson Financial currently has a consensus rating of “Hold” and a consensus price target of $108.80.

Jackson Financial Price Performance

Shares of NYSE JXN opened at $98.39 on Friday. The company has a market cap of $6.69 billion, a PE ratio of 13.61 and a beta of 1.45. The stock has a fifty day moving average price of $97.24 and a 200 day moving average price of $92.73. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.27 and a quick ratio of 0.27. Jackson Financial Inc. has a 1-year low of $64.70 and a 1-year high of $104.61.

Jackson Financial (NYSE:JXN) last posted its quarterly earnings results on Wednesday, March 22nd. The company reported $6.26 earnings per share (EPS) for the quarter. Jackson Financial had a net margin of 1.73% and a return on equity of 15.73%. The firm had revenue of ($1,162.00) million during the quarter. Sell-side analysts forecast that Jackson Financial Inc. will post 20.55 EPS for the current year.

Jackson Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 18th. Investors of record on Thursday, December 4th will be paid a dividend of $0.80 per share. The ex-dividend date of this dividend is Thursday, December 4th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 3.3%. Jackson Financial’s dividend payout ratio (DPR) is presently 44.26%.

Jackson Financial declared that its Board of Directors has authorized a stock buyback plan on Thursday, September 18th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the company to repurchase up to 14.4% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board believes its stock is undervalued.

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.