Capital World Investors Sells 5,490,743 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Capital World Investors lowered its stake in shares of JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 16.0% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 28,873,932 shares of the financial services provider's stock after selling 5,490,743 shares during the period. JPMorgan Chase & Co. makes up approximately 1.1% of Capital World Investors' investment portfolio, making the stock its 18th largest position. Capital World Investors owned 1.03% of JPMorgan Chase & Co. worth $6,921,316,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in JPM. Coastline Trust Co grew its holdings in JPMorgan Chase & Co. by 1.1% during the 4th quarter. Coastline Trust Co now owns 21,002 shares of the financial services provider's stock worth $5,034,000 after acquiring an additional 228 shares in the last quarter. Dnca Finance raised its holdings in JPMorgan Chase & Co. by 2.6% during the fourth quarter. Dnca Finance now owns 83,866 shares of the financial services provider's stock worth $20,104,000 after purchasing an additional 2,100 shares in the last quarter. Elevatus Welath Management boosted its stake in JPMorgan Chase & Co. by 15.9% in the fourth quarter. Elevatus Welath Management now owns 4,962 shares of the financial services provider's stock valued at $1,189,000 after acquiring an additional 679 shares in the last quarter. First Trust Advisors LP increased its position in shares of JPMorgan Chase & Co. by 6.2% during the fourth quarter. First Trust Advisors LP now owns 1,788,544 shares of the financial services provider's stock worth $428,732,000 after purchasing an additional 104,355 shares in the last quarter. Finally, Forum Financial Management LP grew its stake in JPMorgan Chase & Co. by 3.5% during the 4th quarter. Forum Financial Management LP now owns 82,979 shares of the financial services provider's stock worth $19,891,000 after buying an additional 2,820 shares during the last quarter. Institutional investors and hedge funds own 71.55% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on JPM. Evercore ISI cut their target price on shares of JPMorgan Chase & Co. from $273.00 to $265.00 and set an "outperform" rating on the stock in a report on Tuesday, April 1st. UBS Group boosted their target price on JPMorgan Chase & Co. from $277.00 to $305.00 and gave the company a "buy" rating in a report on Thursday, April 17th. Keefe, Bruyette & Woods boosted their price objective on shares of JPMorgan Chase & Co. from $257.00 to $264.00 and gave the company a "market perform" rating in a research note on Thursday, January 16th. Wolfe Research upgraded shares of JPMorgan Chase & Co. from a "peer perform" rating to an "outperform" rating and set a $269.00 target price for the company in a report on Friday, January 3rd. Finally, Truist Financial set a $261.00 price target on JPMorgan Chase & Co. in a report on Monday, April 14th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and ten have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $255.67.

Insider Activity

In other JPMorgan Chase & Co. news, COO Jennifer Piepszak sold 4,273 shares of the firm's stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $269.85, for a total transaction of $1,153,069.05. Following the completion of the sale, the chief operating officer now directly owns 54,469 shares in the company, valued at approximately $14,698,459.65. This trade represents a 7.27 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Troy L. Rohrbaugh sold 37,500 shares of the stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $269.84, for a total transaction of $10,119,000.00. Following the completion of the sale, the chief executive officer now directly owns 158,381 shares of the company's stock, valued at $42,737,529.04. This trade represents a 19.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 73,545 shares of company stock worth $19,149,144. 0.79% of the stock is owned by corporate insiders.

JPMorgan Chase & Co. Price Performance

JPMorgan Chase & Co. stock traded up $6.27 during mid-day trading on Wednesday, hitting $241.86. The company's stock had a trading volume of 9,000,605 shares, compared to its average volume of 9,593,262. The stock has a market capitalization of $673.10 billion, a P/E ratio of 12.25, a P/E/G ratio of 2.83 and a beta of 1.01. JPMorgan Chase & Co. has a twelve month low of $188.46 and a twelve month high of $280.25. The stock's fifty day moving average price is $242.98 and its two-hundred day moving average price is $243.17. The company has a quick ratio of 0.89, a current ratio of 0.88 and a debt-to-equity ratio of 1.24.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last issued its quarterly earnings results on Friday, April 11th. The financial services provider reported $5.07 earnings per share for the quarter, topping analysts' consensus estimates of $4.63 by $0.44. The firm had revenue of $45.30 billion for the quarter, compared to analysts' expectations of $43.62 billion. JPMorgan Chase & Co. had a return on equity of 16.99% and a net margin of 20.96%. JPMorgan Chase & Co.'s revenue was up 8.0% on a year-over-year basis. During the same quarter last year, the business posted $4.44 EPS. Research analysts forecast that JPMorgan Chase & Co. will post 18.1 earnings per share for the current year.

JPMorgan Chase & Co. Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Friday, April 4th will be given a $1.40 dividend. This represents a $5.60 annualized dividend and a dividend yield of 2.32%. The ex-dividend date is Friday, April 4th. This is a boost from JPMorgan Chase & Co.'s previous quarterly dividend of $1.25. JPMorgan Chase & Co.'s dividend payout ratio (DPR) is 27.49%.

About JPMorgan Chase & Co.

JPMorgan Chase & Co is a financial holding company, which engages in the provision of financial and investment banking services. It focuses on investment banking, financial services for consumers and small businesses, commercial banking, financial transaction processing, and asset management. It operates through the following segments: Consumer and Community Banking (CCB), Commercial and Investment Bank (CIB), Asset and Wealth Management (AWM), and Corporate.