Harbert Fund Advisors Inc. Increases Stake in JPMorgan Chase & Co. (NYSE:JPM)

Harbert Fund Advisors Inc. boosted its stake in JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 60.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,000 shares of the financial services provider's stock after purchasing an additional 1,500 shares during the period. Harbert Fund Advisors Inc.'s holdings in JPMorgan Chase & Co. were worth $959,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. Solano Wealth Investment Advisors LLC bought a new stake in shares of JPMorgan Chase & Co. during the 4th quarter valued at about $390,000. Argent Trust Co grew its position in JPMorgan Chase & Co. by 0.3% during the fourth quarter. Argent Trust Co now owns 287,764 shares of the financial services provider's stock valued at $68,980,000 after buying an additional 769 shares during the period. Accredited Investors Inc. raised its position in JPMorgan Chase & Co. by 0.8% in the fourth quarter. Accredited Investors Inc. now owns 20,973 shares of the financial services provider's stock worth $5,028,000 after acquiring an additional 172 shares during the period. Zuckerman Investment Group LLC boosted its stake in shares of JPMorgan Chase & Co. by 1.2% during the 4th quarter. Zuckerman Investment Group LLC now owns 61,301 shares of the financial services provider's stock worth $14,694,000 after acquiring an additional 728 shares during the last quarter. Finally, Redwood Park Advisors LLC bought a new stake in shares of JPMorgan Chase & Co. during the 4th quarter valued at $29,000. 71.55% of the stock is currently owned by hedge funds and other institutional investors.

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Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the company. Bank of America lowered their target price on JPMorgan Chase & Co. from $285.00 to $284.00 and set a "buy" rating on the stock in a research report on Wednesday, April 2nd. Truist Financial reduced their target price on shares of JPMorgan Chase & Co. from $264.00 to $251.00 and set a "hold" rating for the company in a report on Monday. Evercore ISI lowered their price target 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 increased their price objective on shares of JPMorgan Chase & Co. from $276.00 to $287.00 and gave the stock a "buy" rating in a research note on Thursday, January 16th. Finally, Keefe, Bruyette & Woods lifted their target price 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. Ten investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $254.11.

Insider Activity

In other JPMorgan Chase & Co. news, CEO Troy L. Rohrbaugh sold 37,500 shares of JPMorgan Chase & Co. stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $269.84, for a total transaction of $10,119,000.00. Following the completion of the transaction, the chief executive officer now directly owns 158,381 shares of the company's stock, valued at $42,737,529.04. The trade was a 19.14 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Jennifer Piepszak sold 4,273 shares of the stock in a transaction on Thursday, February 20th. The shares were 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 represents a 7.27 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 76,848 shares of company stock valued at $19,987,908 in the last ninety days. Insiders own 0.79% of the company's stock.

JPMorgan Chase & Co. Price Performance

JPM traded down $1.97 during trading hours on Monday, hitting $234.23. The company's stock had a trading volume of 12,217,099 shares, compared to its average volume of 11,525,567. The stock has a market cap of $651.86 billion, a price-to-earnings ratio of 11.87, a P/E/G ratio of 2.83 and a beta of 1.01. The business's 50-day moving average price is $248.89 and its 200-day moving average price is $242.26. The company has a current ratio of 0.88, a quick ratio of 0.89 and a debt-to-equity ratio of 1.24. JPMorgan Chase & Co. has a 12 month low of $179.20 and a 12 month high of $280.25.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last posted its 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. JPMorgan Chase & Co. had a net margin of 20.96% and a return on equity of 16.99%. The firm had revenue of $45.30 billion for the quarter, compared to the consensus estimate of $43.62 billion. During the same period in the previous year, the firm posted $4.44 EPS. The business's quarterly revenue was up 8.0% on a year-over-year basis. Sell-side analysts expect that JPMorgan Chase & Co. will post 18.1 earnings per share 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 $1.40 dividend. This represents a $5.60 annualized dividend and a dividend yield of 2.39%. This is a positive change from JPMorgan Chase & Co.'s previous quarterly dividend of $1.25. The ex-dividend date is Friday, April 4th. JPMorgan Chase & Co.'s dividend payout ratio (DPR) is presently 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.