1,789,104 Shares in Jackson Financial Inc. $JXN Purchased by Donald Smith & CO. Inc.

Donald Smith & CO. Inc. bought a new position in shares of Jackson Financial Inc. (NYSE:JXN) during the second quarter, Holdings Channel reports. The fund bought 1,789,104 shares of the company’s stock, valued at approximately $183,186,000. Jackson Financial accounts for 3.2% of Donald Smith & CO. Inc.’s holdings, making the stock its 10th biggest position.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Dimensional Fund Advisors LP grew its stake in shares of Jackson Financial by 0.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 4,060,350 shares of the company’s stock valued at $429,240,000 after buying an additional 18,740 shares during the period. Hsbc Holdings PLC raised its position in shares of Jackson Financial by 16.5% during the 4th quarter. Hsbc Holdings PLC now owns 1,550,942 shares of the company’s stock valued at $166,476,000 after buying an additional 220,095 shares during the period. Norges Bank purchased a new stake in shares of Jackson Financial during the 4th quarter valued at approximately $129,878,000. Morgan Stanley lifted its holdings in Jackson Financial by 6.0% in the fourth quarter. Morgan Stanley now owns 1,196,405 shares of the company’s stock valued at $127,597,000 after acquiring an additional 67,796 shares during the last quarter. Finally, Federated Hermes Inc. lifted its holdings in Jackson Financial by 14.8% in the fourth quarter. Federated Hermes Inc. now owns 981,046 shares of the company’s stock valued at $104,629,000 after acquiring an additional 126,611 shares during the last quarter. 89.96% of the stock is currently owned by institutional investors and hedge funds.

Jackson Financial Stock Up 0.5%

NYSE:JXN opened at $129.82 on Friday. The company has a quick ratio of 0.26, a current ratio of 0.26 and a debt-to-equity ratio of 0.53. The stock’s fifty day moving average is $119.32 and its two-hundred day moving average is $112.83. Jackson Financial Inc. has a 52 week low of $89.67 and a 52 week high of $137.99. The stock has a market capitalization of $8.79 billion, a price-to-earnings ratio of 182.85 and a beta of 1.30.

Jackson Financial (NYSE:JXN) last released its quarterly earnings results on Monday, August 3rd. The company reported $7.30 EPS for the quarter, topping the consensus estimate of $5.72 by $1.58. Jackson Financial had a return on equity of 18.93% and a net margin of 1.59%.The business had revenue of $2 billion during the quarter, compared to analyst estimates of $1.91 billion.

Jackson Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 24th. Investors of record on Tuesday, September 15th will be paid a dividend of $0.90 per share. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $3.60 annualized dividend and a yield of 2.8%. Jackson Financial’s dividend payout ratio is presently 507.04%.

Analysts Set New Price Targets

JXN has been the subject of several analyst reports. Weiss Ratings upgraded Jackson Financial from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday, August 4th. Jefferies Financial Group upgraded Jackson Financial from a “hold” rating to a “buy” rating and lifted their target price for the company from $120.00 to $140.00 in a research report on Friday, July 10th. Keefe, Bruyette & Woods upped their price target on Jackson Financial from $130.00 to $140.00 and gave the company a “market perform” rating in a research note on Wednesday, August 5th. Evercore set a $135.00 price target on Jackson Financial in a report on Wednesday, August 5th. Finally, Barclays raised their price objective on Jackson Financial from $139.00 to $149.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 4th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $133.80.

Insider Transactions at Jackson Financial

In related news, EVP Carrie Chelko sold 7,500 shares of the firm’s stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $134.24, for a total transaction of $1,006,800.00. Following the completion of the transaction, the executive vice president directly owned 80,914 shares in the company, valued at $10,861,895.36. This trade represents a 8.48% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Christopher Raub sold 5,000 shares of Jackson Financial stock in a transaction dated Wednesday, August 12th. The shares were sold at an average price of $130.69, for a total value of $653,450.00. Following the completion of the transaction, the chief executive officer directly owned 42,160 shares of the company’s stock, valued at approximately $5,509,890.40. This represents a 10.60% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 1.40% of the company’s stock.

Jackson Financial 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.