NEOS Investment Management LLC boosted its holdings in JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 24.2% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 152,130 shares of the financial services provider's stock after purchasing an additional 29,668 shares during the period. JPMorgan Chase & Co. comprises 0.9% of NEOS Investment Management LLC's portfolio, making the stock its 15th largest position. NEOS Investment Management LLC's holdings in JPMorgan Chase & Co. were worth $36,467,000 as of its most recent SEC filing.
A number of other hedge funds have also recently bought and sold shares of JPM. Sellwood Investment Partners LLC acquired a new stake in shares of JPMorgan Chase & Co. during the fourth quarter worth approximately $34,000. Midwest Capital Advisors LLC bought a new position in JPMorgan Chase & Co. during the 4th quarter valued at $43,000. Legacy Investment Solutions LLC acquired a new position in JPMorgan Chase & Co. during the 3rd quarter worth $45,000. Collier Financial bought a new stake in shares of JPMorgan Chase & Co. in the 4th quarter worth about $45,000. Finally, Lowe Wealth Advisors LLC increased its position in shares of JPMorgan Chase & Co. by 34.0% in the 4th quarter. Lowe Wealth Advisors LLC now owns 201 shares of the financial services provider's stock worth $48,000 after purchasing an additional 51 shares during the last quarter. Institutional investors and hedge funds own 71.55% of the company's stock.
Analysts Set New Price Targets
Several brokerages have recently commented on JPM. Piper Sandler increased their price target on shares of JPMorgan Chase & Co. from $240.00 to $275.00 and gave the stock an "overweight" rating in a research report on Tuesday, December 3rd. Robert W. Baird upgraded JPMorgan Chase & Co. from an "underperform" rating to a "neutral" rating and lifted their target price for the stock from $215.00 to $220.00 in a research report on Friday, March 7th. Bank of America boosted their price target on JPMorgan Chase & Co. from $260.00 to $280.00 and gave the company a "buy" rating in a report on Tuesday, January 7th. Keefe, Bruyette & Woods raised their price objective on JPMorgan Chase & Co. from $257.00 to $264.00 and gave the stock a "market perform" rating in a research note on Thursday, January 16th. Finally, Baird R W upgraded shares of JPMorgan Chase & Co. from a "strong sell" rating to a "hold" rating in a research note on Friday, March 7th. Ten investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, JPMorgan Chase & Co. currently has a consensus rating of "Moderate Buy" and a consensus target price of $254.83.
Read Our Latest Stock Analysis on JPMorgan Chase & Co.
Insider Transactions at JPMorgan Chase & Co.
In other news, CEO Troy L. Rohrbaugh sold 37,500 shares of JPMorgan Chase & Co. 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 transaction, the chief executive officer now owns 158,381 shares of the company's stock, valued at $42,737,529.04. The trade was a 19.14 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, COO Jennifer Piepszak sold 4,273 shares of the business's stock in a transaction that occurred on 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 owns 54,469 shares in the company, valued at $14,698,459.65. The trade was a 7.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 76,848 shares of company stock valued at $19,987,908. Company insiders own 0.79% of the company's stock.
JPMorgan Chase & Co. Stock Performance
JPMorgan Chase & Co. stock traded down $1.72 during mid-day trading on Tuesday, hitting $243.58. 8,048,355 shares of the company's stock traded hands, compared to its average volume of 9,363,549. 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 $256.88 and a 200 day moving average price of $241.33. The company has a market cap of $681.06 billion, a PE ratio of 12.34, 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 data on Wednesday, January 15th. The financial services provider reported $4.81 earnings per share for the quarter, beating analysts' consensus estimates of $4.03 by $0.78. The business had revenue of $42.77 billion for the quarter, compared to analysts' expectations of $41.90 billion. JPMorgan Chase & Co. had a net margin of 20.96% and a return on equity of 16.99%. The company's revenue was up 10.9% on a year-over-year basis. During the same period in the previous year, the business 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 declared 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 is a positive change from JPMorgan Chase & Co.'s previous quarterly dividend of $1.25. This represents a $5.60 dividend on an annualized basis and a dividend yield of 2.30%. The ex-dividend date is Friday, April 4th. JPMorgan Chase & Co.'s dividend payout ratio is currently 28.37%.
About JPMorgan Chase & Co.
(
Free Report)
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.
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