Donald Smith & CO. Inc. Lowers Position in Jackson Financial Inc. $JXN

Donald Smith & CO. Inc. reduced its position in shares of Jackson Financial Inc. (NYSE:JXN) by 0.5% in the fourth quarter, Holdings Channel reports. The firm owned 1,954,400 shares of the company’s stock after selling 10,224 shares during the period. Jackson Financial comprises approximately 3.9% of Donald Smith & CO. Inc.’s holdings, making the stock its 5th biggest position. Donald Smith & CO. Inc.’s holdings in Jackson Financial were worth $208,437,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in JXN. Integrated Wealth Concepts LLC grew its position in shares of Jackson Financial by 33.2% during the 1st quarter. Integrated Wealth Concepts LLC now owns 5,471 shares of the company’s stock valued at $458,000 after purchasing an additional 1,363 shares in the last quarter. Woodline Partners LP purchased a new position in shares of Jackson Financial during the 1st quarter valued at $4,081,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of Jackson Financial by 3.6% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 210,836 shares of the company’s stock valued at $17,664,000 after purchasing an additional 7,380 shares in the last quarter. EverSource Wealth Advisors LLC grew its position in shares of Jackson Financial by 55.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 911 shares of the company’s stock valued at $81,000 after purchasing an additional 325 shares in the last quarter. Finally, Marshall Wace LLP purchased a new position in shares of Jackson Financial during the 2nd quarter valued at $986,000. 89.96% of the stock is currently owned by hedge funds and other institutional investors.

Jackson Financial Stock Performance

NYSE JXN opened at $106.98 on Thursday. The company has a 50-day simple moving average of $108.16 and a two-hundred day simple moving average of $108.73. The company has a quick ratio of 0.27, a current ratio of 0.27 and a debt-to-equity ratio of 0.49. Jackson Financial Inc. has a 12-month low of $80.25 and a 12-month high of $123.61. The firm has a market cap of $7.46 billion, a price-to-earnings ratio of -17.51 and a beta of 1.32.

Jackson Financial Dividend Announcement

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

Analysts Set New Price Targets

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

About Jackson Financial

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.