Envestnet Portfolio Solutions Inc. Has $79.55 Million Stock Holdings in JPMorgan Chase & Co. (NYSE:JPM)

Envestnet Portfolio Solutions Inc. lowered its holdings in JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 6.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 331,875 shares of the financial services provider's stock after selling 23,903 shares during the period. Envestnet Portfolio Solutions Inc.'s holdings in JPMorgan Chase & Co. were worth $79,554,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in JPM. Principal Financial Group Inc. lifted its position in shares of JPMorgan Chase & Co. by 3.2% during the third quarter. Principal Financial Group Inc. now owns 5,824,289 shares of the financial services provider's stock worth $1,228,110,000 after purchasing an additional 182,648 shares in the last quarter. United Bank grew its stake in shares of JPMorgan Chase & Co. by 2.5% during the third quarter. United Bank now owns 25,354 shares of the financial services provider's stock valued at $5,346,000 after acquiring an additional 614 shares in the last quarter. Fifth Third Wealth Advisors LLC lifted its stake in shares of JPMorgan Chase & Co. by 20.5% in the third quarter. Fifth Third Wealth Advisors LLC now owns 90,288 shares of the financial services provider's stock worth $19,038,000 after acquiring an additional 15,334 shares in the last quarter. Equita Financial Network Inc. purchased a new position in JPMorgan Chase & Co. in the third quarter valued at about $226,000. Finally, Princeton Capital Management LLC grew its stake in JPMorgan Chase & Co. by 0.9% during the 3rd quarter. Princeton Capital Management LLC now owns 10,710 shares of the financial services provider's stock valued at $2,258,000 after purchasing an additional 94 shares in the last quarter. Hedge funds and other institutional investors own 71.55% of the company's stock.

Remove Ads

JPMorgan Chase & Co. Stock Performance

JPMorgan Chase & Co. stock traded down $2.68 during mid-day trading on Thursday, hitting $248.35. 8,014,093 shares of the company's stock traded hands, compared to its average volume of 8,884,992. 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. has a one year low of $179.20 and a one year high of $280.25. The firm has a 50 day moving average price of $257.99 and a 200 day moving average price of $240.06. The company has a market cap of $694.41 billion, a PE ratio of 12.58, a price-to-earnings-growth ratio of 2.83 and a beta of 1.10.

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

JPMorgan Chase & Co. Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Friday, April 4th will be paid a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a dividend yield of 2.25%. The ex-dividend date is Friday, April 4th. This is a positive change from JPMorgan Chase & Co.'s previous quarterly dividend of $1.25. JPMorgan Chase & Co.'s dividend payout ratio (DPR) is currently 28.37%.

Analyst Ratings Changes

JPM has been the subject of several research analyst reports. Piper Sandler increased their target price on JPMorgan Chase & Co. from $240.00 to $275.00 and gave the company an "overweight" rating in a research note on Tuesday, December 3rd. Barclays boosted their target price on shares of JPMorgan Chase & Co. from $304.00 to $330.00 and gave the stock an "overweight" rating in a research report on Thursday, January 16th. Robert W. Baird raised shares of JPMorgan Chase & Co. from an "underperform" rating to a "neutral" rating and increased their price target for the stock from $215.00 to $220.00 in a research report on Friday, March 7th. Bank of America upped their price objective on JPMorgan Chase & Co. from $260.00 to $280.00 and gave the company a "buy" rating in a research note on Tuesday, January 7th. Finally, Keefe, Bruyette & Woods lifted their target price on 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. Ten research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company's stock. According to MarketBeat.com, JPMorgan Chase & Co. currently has a consensus rating of "Moderate Buy" and a consensus price target of $252.89.

Insider Buying and Selling

In other JPMorgan Chase & Co. news, insider Robin Leopold sold 1,250 shares of the business's stock in a transaction on Monday, March 24th. The shares were sold at an average price of $246.92, for a total transaction of $308,650.00. Following the sale, the insider now directly owns 49,127 shares of the company's stock, valued at $12,130,438.84. The trade was a 2.48 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, General Counsel Stacey Friedman sold 3,303 shares of the firm's stock in a transaction on Thursday, January 16th. The stock was sold at an average price of $253.94, for a total value of $838,763.82. Following the completion of the sale, the general counsel now directly owns 47,620 shares of the company's stock, valued at approximately $12,092,622.80. This trade represents a 6.49 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 76,848 shares of company stock valued at $19,987,908 over the last quarter. Corporate insiders own 0.79% of the company's stock.

JPMorgan Chase & Co. Company Profile

JPMorgan Chase & Co is a financial holding company, which engages in the provision of financial and investment banking services. The firm offers a range of investment banking products and services in all capital markets, including advising on corporate strategy and structure, capital raising in equity and debt markets, risk management, market making in cash securities and derivative instruments, and brokerage and research.