LSV Asset Management Acquires 422,175 Shares of Jackson Financial Inc. (NYSE:JXN)

LSV Asset Management lifted its holdings in Jackson Financial Inc. (NYSE:JXN) by 2,459.7% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 439,339 shares of the company’s stock after acquiring an additional 422,175 shares during the period. LSV Asset Management owned approximately 0.58% of Jackson Financial worth $32,625,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently made changes to their positions in JXN. Norges Bank bought a new position in shares of Jackson Financial in the 4th quarter worth about $51,189,000. Acadian Asset Management LLC raised its position in shares of Jackson Financial by 146.3% in the 2nd quarter. Acadian Asset Management LLC now owns 1,219,218 shares of the company’s stock worth $90,525,000 after acquiring an additional 724,148 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of Jackson Financial by 10.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 4,175,970 shares of the company’s stock worth $213,813,000 after acquiring an additional 399,665 shares in the last quarter. Donald Smith & CO. Inc. increased its position in Jackson Financial by 20.1% in the 1st quarter. Donald Smith & CO. Inc. now owns 2,376,476 shares of the company’s stock valued at $157,180,000 after buying an additional 397,287 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund bought a new stake in Jackson Financial in the 1st quarter valued at about $21,892,000. 89.96% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. Barclays assumed coverage on Jackson Financial in a research report on Wednesday, September 4th. They issued an “overweight” rating and a $109.00 target price for the company. Morgan Stanley boosted their target price on Jackson Financial from $86.00 to $89.00 and gave the company an “equal weight” rating in a research report on Monday, August 19th. Evercore ISI decreased their target price on Jackson Financial from $75.00 to $73.00 and set an “in-line” rating for the company in a research report on Wednesday, June 26th. Keefe, Bruyette & Woods boosted their target price on Jackson Financial from $80.00 to $82.00 and gave the company a “market perform” rating in a research report on Wednesday, August 14th. Finally, Jefferies Financial Group boosted their target price on Jackson Financial from $73.00 to $80.00 and gave the company a “hold” rating in a research report on Monday, July 29th. Five investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $80.00.

Jackson Financial Price Performance

JXN stock opened at $80.57 on Tuesday. The company has a market capitalization of $6.06 billion, a P/E ratio of 2.13 and a beta of 1.50. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.30 and a current ratio of 0.30. Jackson Financial Inc. has a 52-week low of $35.27 and a 52-week high of $90.10. The business has a 50-day simple moving average of $82.30 and a two-hundred day simple moving average of $73.11.

Jackson Financial (NYSE:JXN) last released its quarterly earnings results on Wednesday, August 7th. The company reported $5.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.32 by $1.00. The company had revenue of $2.01 billion for the quarter, compared to analyst estimates of $1.71 billion. Jackson Financial’s revenue for the quarter was up 5.0% on a year-over-year basis. During the same quarter last year, the firm posted $3.34 EPS. Research analysts expect that Jackson Financial Inc. will post 18.49 EPS for the current fiscal year.

Jackson Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 19th. Stockholders of record on Thursday, September 5th will be paid a $0.70 dividend. The ex-dividend date of this dividend is Thursday, September 5th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.48%. Jackson Financial’s payout ratio is presently 7.40%.

About Jackson Financial

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.