Donald Smith & CO. Inc. Acquires 528,976 Shares of Jackson Financial Inc. (NYSE:JXN)

Donald Smith & CO. Inc. raised its stake in Jackson Financial Inc. (NYSE:JXN - Free Report) by 36.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,979,189 shares of the company's stock after buying an additional 528,976 shares during the quarter. Jackson Financial accounts for about 2.6% of Donald Smith & CO. Inc.'s portfolio, making the stock its 11th largest position. Donald Smith & CO. Inc. owned approximately 2.49% of Jackson Financial worth $101,334,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. NBC Securities Inc. acquired a new position in shares of Jackson Financial in the 3rd quarter valued at $28,000. Daiwa Securities Group Inc. bought a new position in Jackson Financial during the fourth quarter worth about $36,000. Headlands Technologies LLC acquired a new position in Jackson Financial in the fourth quarter valued at about $38,000. PNC Financial Services Group Inc. increased its holdings in shares of Jackson Financial by 291.2% in the third quarter. PNC Financial Services Group Inc. now owns 1,025 shares of the company's stock worth $39,000 after acquiring an additional 763 shares in the last quarter. Finally, Planned Solutions Inc. acquired a new stake in shares of Jackson Financial during the fourth quarter worth about $77,000. Institutional investors own 89.96% of the company's stock.

Analyst Ratings Changes

A number of research analysts have weighed in on JXN shares. The Goldman Sachs Group lifted their price target on shares of Jackson Financial from $39.00 to $47.00 and gave the company a "neutral" rating in a research note on Tuesday, January 9th. Keefe, Bruyette & Woods upped their target price on shares of Jackson Financial from $68.00 to $75.00 and gave the stock an "outperform" rating in a research note on Wednesday, April 10th. Evercore ISI lifted their price target on Jackson Financial from $55.00 to $62.00 and gave the company an "in-line" rating in a research note on Thursday, April 11th. Morgan Stanley upped their price objective on Jackson Financial from $52.00 to $70.00 and gave the stock an "equal weight" rating in a research report on Monday, April 15th. Finally, Jefferies Financial Group reissued a "hold" rating and issued a $55.00 target price on shares of Jackson Financial in a research report on Tuesday, January 2nd. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company's stock. According to data from MarketBeat, Jackson Financial presently has a consensus rating of "Hold" and an average target price of $61.80.

Jackson Financial Stock Up 0.4 %

NYSE:JXN traded up $0.29 on Monday, hitting $69.85. 538,586 shares of the company's stock were exchanged, compared to its average volume of 814,234. The firm has a 50-day moving average price of $62.26 and a 200-day moving average price of $52.51. Jackson Financial Inc. has a 52 week low of $26.70 and a 52 week high of $70.97. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.33 and a quick ratio of 0.33. The company has a market cap of $5.41 billion, a P/E ratio of 7.12 and a beta of 1.57.

Jackson Financial (NYSE:JXN - Get Free Report) last released its earnings results on Wednesday, February 21st. The company reported $2.53 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.53 by ($1.00). The company had revenue of $1.93 billion during the quarter, compared to analyst estimates of $1.40 billion. The business's quarterly revenue was up 3.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $5.66 EPS. As a group, analysts expect that Jackson Financial Inc. will post 15.95 EPS for the current fiscal year.

Jackson Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 21st. Stockholders of record on Tuesday, March 12th were issued a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 4.01%. The ex-dividend date of this dividend was Monday, March 11th. This is an increase from Jackson Financial's previous quarterly dividend of $0.62. Jackson Financial's dividend payout ratio is presently 28.54%.

Insider Activity at Jackson Financial

In other news, Director Derek G. Kirkland purchased 3,500 shares of the company's stock in a transaction on Monday, March 4th. The shares were purchased at an average cost of $55.67 per share, with a total value of $194,845.00. Following the completion of the transaction, the director now owns 37,726 shares of the company's stock, valued at approximately $2,100,206.42. The transaction was disclosed in a filing with the SEC, which is available through this link. 1.30% of the stock is owned by company insiders.

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.