Covington Investment Advisors Inc. Has $8.45 Million Holdings in JPMorgan Chase & Co. (NYSE:JPM)

Covington Investment Advisors Inc. trimmed its position in JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 11.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 35,257 shares of the financial services provider's stock after selling 4,656 shares during the quarter. Covington Investment Advisors Inc.'s holdings in JPMorgan Chase & Co. were worth $8,452,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also made changes to their positions in JPM. Sellwood Investment Partners LLC bought a new position in JPMorgan Chase & Co. in the fourth quarter worth about $34,000. Midwest Capital Advisors LLC acquired a new stake in shares of JPMorgan Chase & Co. during the 4th quarter worth approximately $43,000. Legacy Investment Solutions LLC bought a new stake in shares of JPMorgan Chase & Co. in the 3rd quarter worth approximately $45,000. Collier Financial bought a new stake in shares of JPMorgan Chase & Co. in the 4th quarter worth approximately $45,000. Finally, Lowe Wealth Advisors LLC boosted its position in JPMorgan Chase & Co. by 34.0% during the 4th quarter. Lowe Wealth Advisors LLC now owns 201 shares of the financial services provider's stock valued at $48,000 after purchasing an additional 51 shares during the period. 71.55% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, CEO Troy L. Rohrbaugh sold 37,500 shares of the firm's stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $269.84, for a total value of $10,119,000.00. Following the completion of the transaction, the chief executive officer now owns 158,381 shares of the company's stock, valued at approximately $42,737,529.04. This trade represents a 19.14 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Robin Leopold sold 1,250 shares of JPMorgan Chase & Co. stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $246.92, for a total transaction of $308,650.00. Following the transaction, the insider now owns 49,127 shares in the company, valued at approximately $12,130,438.84. The trade was a 2.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 76,848 shares of company stock worth $19,987,908 in the last three months. 0.79% of the stock is currently owned by insiders.

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JPMorgan Chase & Co. Price Performance

Shares of NYSE:JPM traded up $2.44 during trading hours on Wednesday, hitting $246.10. 7,726,552 shares of the company's stock traded hands, compared to its average volume of 9,366,502. The company's fifty day simple moving average is $256.88 and its two-hundred day simple moving average is $241.33. The company has a market cap of $688.12 billion, a price-to-earnings ratio of 12.47, a price-to-earnings-growth ratio of 2.83 and a beta of 1.10. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.89 and a current ratio of 0.88. JPMorgan Chase & Co. has a 52 week low of $179.20 and a 52 week high of $280.25.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last released its earnings results on Wednesday, January 15th. The financial services provider reported $4.81 EPS for the quarter, beating the consensus estimate of $4.03 by $0.78. The business had revenue of $42.77 billion during the quarter, compared to analyst estimates of $41.90 billion. JPMorgan Chase & Co. had a net margin of 20.96% and a return on equity of 16.99%. The business's quarterly revenue was up 10.9% on a year-over-year basis. During the same period in the prior year, the business earned $3.04 earnings per share. As a group, equities analysts anticipate that JPMorgan Chase & Co. will post 18.1 EPS for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Friday, April 4th will be paid a dividend of $1.40 per share. The ex-dividend date is Friday, April 4th. This is a positive change from JPMorgan Chase & Co.'s previous quarterly dividend of $1.25. This represents a $5.60 annualized dividend and a dividend yield of 2.28%. JPMorgan Chase & Co.'s dividend payout ratio (DPR) is currently 28.37%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. Wolfe Research upgraded shares of JPMorgan Chase & Co. from a "peer perform" rating to an "outperform" rating and set a $269.00 price target for the company in a research report on Friday, January 3rd. Keefe, Bruyette & Woods upped their target price on shares of JPMorgan Chase & Co. from $257.00 to $264.00 and gave the stock a "market perform" rating in a research report on Thursday, January 16th. Barclays lifted their price target on JPMorgan Chase & Co. from $304.00 to $330.00 and gave the company an "overweight" rating in a report on Thursday, January 16th. UBS Group boosted their price objective on JPMorgan Chase & Co. from $276.00 to $287.00 and gave the stock a "buy" rating in a research report on Thursday, January 16th. Finally, Baird R W upgraded JPMorgan Chase & Co. from a "strong sell" rating to a "hold" rating in a research report on Friday, March 7th. Ten investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $255.06.

JPMorgan Chase & Co. Company Profile

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.