Donald Smith & CO. Inc. Invests $183.19 Million in Jackson Financial Inc. $JXN

Donald Smith & CO. Inc. bought a new stake in shares of Jackson Financial Inc. (NYSE:JXN) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 1,789,104 shares of the company’s stock, valued at approximately $183,186,000. Jackson Financial makes up about 3.2% of Donald Smith & CO. Inc.’s holdings, making the stock its 10th largest position. Donald Smith & CO. Inc. owned about 2.64% of Jackson Financial as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Triumph Capital Management raised its position in Jackson Financial by 2.7% during the fourth quarter. Triumph Capital Management now owns 4,110 shares of the company’s stock worth $438,000 after acquiring an additional 107 shares during the period. CIBC Asset Management Inc lifted its holdings in Jackson Financial by 1.7% during the fourth quarter. CIBC Asset Management Inc now owns 6,946 shares of the company’s stock valued at $741,000 after purchasing an additional 113 shares in the last quarter. UMB Bank n.a. grew its position in shares of Jackson Financial by 41.0% in the fourth quarter. UMB Bank n.a. now owns 392 shares of the company’s stock valued at $42,000 after purchasing an additional 114 shares during the period. Fifth Third Wealth Advisors LLC grew its position in shares of Jackson Financial by 5.5% in the first quarter. Fifth Third Wealth Advisors LLC now owns 2,405 shares of the company’s stock valued at $254,000 after purchasing an additional 126 shares during the period. Finally, Root Financial Partners LLC increased its stake in shares of Jackson Financial by 46.4% during the first quarter. Root Financial Partners LLC now owns 401 shares of the company’s stock worth $42,000 after purchasing an additional 127 shares in the last quarter. Institutional investors and hedge funds own 89.96% of the company’s stock.

Insider Activity at Jackson Financial

In other news, EVP Carrie Chelko sold 7,500 shares of the business’s stock in a transaction that occurred on 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 transaction, the executive vice president directly owned 80,914 shares in the company, valued at $10,861,895.36. The trade was a 8.48% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Christopher Raub sold 5,000 shares of the company’s stock in a transaction that occurred on 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 sale, the chief executive officer owned 42,160 shares of the company’s stock, valued at $5,509,890.40. This trade represents a 10.60% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 1.40% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. Keefe, Bruyette & Woods upped their price target on shares of Jackson Financial from $130.00 to $140.00 and gave the stock a “market perform” rating in a research report on Wednesday, August 5th. Barclays lifted their price objective on Jackson Financial from $139.00 to $149.00 and gave the stock an “overweight” rating in a report on Tuesday, August 4th. Jefferies Financial Group upgraded Jackson Financial from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $120.00 to $140.00 in a research note on Friday, July 10th. Wall Street Zen raised Jackson Financial from a “hold” rating to a “buy” rating in a report on Saturday, August 8th. Finally, Weiss Ratings upgraded Jackson Financial from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday, August 4th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Jackson Financial presently has an average rating of “Moderate Buy” and a consensus price target of $133.80.

Jackson Financial Price Performance

Shares of NYSE JXN opened at $129.82 on Friday. The firm has a 50-day simple moving average of $119.32 and a 200-day simple moving average of $112.83. The stock has a market capitalization of $8.79 billion, a price-to-earnings ratio of 182.85 and a beta of 1.30. The company has a quick ratio of 0.26, a current ratio of 0.26 and a debt-to-equity ratio of 0.53. Jackson Financial Inc. has a 52 week low of $89.67 and a 52 week high of $137.99.

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

Jackson Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 24th. Shareholders of record on Tuesday, September 15th will be paid a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date of this dividend is Tuesday, September 15th. Jackson Financial’s dividend payout ratio (DPR) is 507.04%.

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.