Donald Smith & CO. Inc. Reduces Stock Holdings in Jackson Financial Inc. $JXN

Donald Smith & CO. Inc. lowered its position in shares of Jackson Financial Inc. (NYSE:JXN) by 0.5% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,954,400 shares of the company’s stock after selling 10,224 shares during the quarter. Jackson Financial accounts for approximately 3.9% of Donald Smith & CO. Inc.’s investment portfolio, making the stock its 5th biggest holding. Donald Smith & CO. Inc. owned 2.88% of Jackson Financial worth $208,437,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the company. Janney Montgomery Scott LLC raised its holdings in shares of Jackson Financial by 4.3% in the 4th quarter. Janney Montgomery Scott LLC now owns 57,617 shares of the company’s stock worth $6,145,000 after purchasing an additional 2,399 shares during the period. Deutsche Bank AG raised its holdings in shares of Jackson Financial by 4.0% in the 4th quarter. Deutsche Bank AG now owns 56,799 shares of the company’s stock worth $6,058,000 after purchasing an additional 2,159 shares during the period. Focus Partners Advisor Solutions LLC raised its holdings in shares of Jackson Financial by 21.6% in the 4th quarter. Focus Partners Advisor Solutions LLC now owns 3,764 shares of the company’s stock worth $401,000 after purchasing an additional 669 shares during the period. Fox Run Management L.L.C. raised its holdings in shares of Jackson Financial by 92.5% in the 4th quarter. Fox Run Management L.L.C. now owns 18,381 shares of the company’s stock worth $1,960,000 after purchasing an additional 8,834 shares during the period. Finally, Cerity Partners LLC raised its holdings in shares of Jackson Financial by 61.3% in the 4th quarter. Cerity Partners LLC now owns 17,565 shares of the company’s stock worth $1,873,000 after purchasing an additional 6,672 shares during the period. Institutional investors own 89.96% of the company’s stock.

Jackson Financial Trading Down 0.5%

Shares of JXN stock opened at $106.98 on Thursday. The company’s fifty day simple moving average is $108.16 and its two-hundred day simple moving average is $108.73. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.27 and a quick ratio of 0.27. Jackson Financial Inc. has a 1 year low of $80.25 and a 1 year high of $123.61. The stock has a market capitalization of $7.46 billion, a price-to-earnings ratio of -17.51 and a beta of 1.32.

Jackson Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 25th. Shareholders of record on Thursday, June 11th will be issued a dividend of $0.90 per share. The ex-dividend date of this dividend is Thursday, June 11th. This represents a $3.60 dividend on an annualized basis and a yield of 3.4%. Jackson Financial’s payout ratio is presently -58.92%.

Analyst Upgrades and Downgrades

A number of research firms recently commented on JXN. Wall Street Zen cut shares of Jackson Financial from a “buy” rating to a “hold” rating in a report on Saturday, April 11th. Weiss Ratings cut shares of Jackson Financial from a “hold (c)” rating to a “hold (c-)” rating in a report on Tuesday, May 12th. Keefe, Bruyette & Woods lifted their price target on shares of Jackson Financial from $120.00 to $125.00 and gave the stock a “market perform” rating in a report on Wednesday, May 13th. Finally, Barclays lowered their price target on shares of Jackson Financial from $138.00 to $136.00 and set an “overweight” rating on the stock in a report on Wednesday, April 8th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, Jackson Financial has a consensus rating of “Hold” and a consensus target price of $115.80.

Jackson Financial Company Profile

Jackson Financial Inc is a U.S.-based financial services holding company headquartered in Lansing, Michigan. The company operates primarily through its principal subsidiary, Jackson National Life Insurance Company, and specializes in designing and distributing retirement products. Jackson Financial has been publicly traded on the New York Stock Exchange under the ticker JXN since its initial public offering in May 2022.

The company’s core offerings include a broad range of fixed, variable and indexed annuity products aimed at helping individuals preserve and grow retirement assets.