Alerus Financial NA Reduces Stock Holdings in JPMorgan Chase & Co. (NYSE:JPM)

Alerus Financial NA cut its stake in shares of JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 34.4% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 75,151 shares of the financial services provider's stock after selling 39,467 shares during the quarter. JPMorgan Chase & Co. accounts for about 1.4% of Alerus Financial NA's investment portfolio, making the stock its 14th largest holding. Alerus Financial NA's holdings in JPMorgan Chase & Co. were worth $18,014,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Geode Capital Management LLC grew its stake in shares of JPMorgan Chase & Co. by 0.9% in the third quarter. Geode Capital Management LLC now owns 58,344,186 shares of the financial services provider's stock worth $12,258,346,000 after purchasing an additional 505,830 shares during the last quarter. Norges Bank bought a new stake in shares of JPMorgan Chase & Co. in the 4th quarter worth approximately $8,310,884,000. Charles Schwab Investment Management Inc. increased its stake in shares of JPMorgan Chase & Co. by 0.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 20,103,063 shares of the financial services provider's stock valued at $4,818,905,000 after buying an additional 71,122 shares during the period. Fisher Asset Management LLC increased its stake in shares of JPMorgan Chase & Co. by 3.7% during the fourth quarter. Fisher Asset Management LLC now owns 17,401,436 shares of the financial services provider's stock valued at $4,171,298,000 after buying an additional 617,164 shares during the period. Finally, Franklin Resources Inc. raised its holdings in shares of JPMorgan Chase & Co. by 7.2% during the third quarter. Franklin Resources Inc. now owns 15,073,193 shares of the financial services provider's stock valued at $3,338,955,000 after acquiring an additional 1,016,289 shares in the last quarter. 71.55% of the stock is currently owned by institutional investors.

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Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. Truist Financial boosted their price objective on shares of JPMorgan Chase & Co. from $260.00 to $268.00 and gave the company a "hold" rating in a research report on Thursday, January 16th. UBS Group boosted their price target on shares of JPMorgan Chase & Co. from $276.00 to $287.00 and gave the company a "buy" rating in a research report on Thursday, January 16th. Evercore ISI lowered their price objective on shares of JPMorgan Chase & Co. from $273.00 to $265.00 and set an "outperform" rating for the company in a report on Tuesday. Baird R W upgraded JPMorgan Chase & Co. from a "strong sell" rating to a "hold" rating in a report on Friday, March 7th. Finally, Wolfe Research upgraded JPMorgan Chase & Co. from a "peer perform" rating to an "outperform" rating and set a $269.00 target price for the company in a research note on Friday, January 3rd. Ten analysts have rated the stock with a hold rating and ten have given a buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $255.06.

JPMorgan Chase & Co. Stock Up 1.0 %

Shares of NYSE JPM traded up $2.44 during midday trading on Wednesday, hitting $246.10. The stock had a trading volume of 7,726,552 shares, compared to its average volume of 9,366,502. The business's 50 day moving average is $256.88 and its 200-day moving average is $241.33. JPMorgan Chase & Co. has a 52 week low of $179.20 and a 52 week high of $280.25. The company has a quick ratio of 0.89, a current ratio of 0.88 and a debt-to-equity ratio of 1.24. The company has a market cap of $688.12 billion, a P/E ratio of 12.47, a PEG ratio of 2.83 and a beta of 1.10.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last announced its quarterly earnings data on Wednesday, January 15th. The financial services provider reported $4.81 earnings per share for the quarter, topping analysts' consensus estimates of $4.03 by $0.78. The company 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 firm's revenue for the quarter was up 10.9% on a year-over-year basis. During the same period in the previous year, the business earned $3.04 EPS. As a group, analysts predict that JPMorgan Chase & Co. will post 18.1 EPS for the current year.

JPMorgan Chase & Co. Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Friday, April 4th will be issued a dividend of $1.40 per share. This is an increase 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 2.28%. The ex-dividend date is Friday, April 4th. JPMorgan Chase & Co.'s dividend payout ratio is presently 28.37%.

Insider Activity

In other news, CEO Troy L. Rohrbaugh sold 37,500 shares of the business'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 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 document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, General Counsel Stacey Friedman sold 3,303 shares of the stock in a transaction that occurred on Thursday, January 16th. The shares were sold at an average price of $253.94, for a total transaction of $838,763.82. Following the transaction, the general counsel now owns 47,620 shares in the company, 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 ninety days. 0.79% of the stock is currently owned by corporate insiders.

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.