Kayne Anderson Rudnick Investment Management LLC Increases Stock Position in JPMorgan Chase & Co. (NYSE:JPM)

Kayne Anderson Rudnick Investment Management LLC increased its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 7.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 26,134 shares of the financial services provider's stock after purchasing an additional 1,923 shares during the quarter. Kayne Anderson Rudnick Investment Management LLC's holdings in JPMorgan Chase & Co. were worth $6,265,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of JPM. Redwood Park Advisors LLC acquired a new position in shares of JPMorgan Chase & Co. in the 4th quarter worth approximately $29,000. Sellwood Investment Partners LLC acquired a new position in JPMorgan Chase & Co. during the fourth quarter worth $34,000. Investment Counsel Co. of Nevada purchased a new position in shares of JPMorgan Chase & Co. during the fourth quarter worth $37,000. Midwest Capital Advisors LLC acquired a new stake in shares of JPMorgan Chase & Co. in the fourth quarter valued at $43,000. Finally, Prudent Man Investment Management Inc. purchased a new stake in shares of JPMorgan Chase & Co. in the 4th quarter valued at $43,000. 71.55% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on JPM shares. Evercore ISI reduced 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 research report on Tuesday, April 1st. Robert W. Baird upgraded shares of JPMorgan Chase & Co. from an "underperform" rating to a "neutral" rating and increased their target price for the stock from $215.00 to $220.00 in a report on Friday, March 7th. Barclays boosted their price target on shares of JPMorgan Chase & Co. from $304.00 to $330.00 and gave the stock an "overweight" rating in a research note on Thursday, January 16th. Bank of America cut their price objective 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. Finally, StockNews.com cut JPMorgan Chase & Co. from a "hold" rating to a "sell" rating in a research note on Monday, April 14th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, JPMorgan Chase & Co. presently has a consensus rating of "Hold" and a consensus price target of $255.67.

Insider Buying and Selling at JPMorgan Chase & Co.

In other news, insider Robin Leopold sold 1,250 shares of the 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 completion of the transaction, the insider now directly owns 49,127 shares of the company's stock, valued at approximately $12,130,438.84. This represents a 2.48 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, COO Jennifer Piepszak sold 4,272 shares of the company's stock in a transaction on Monday, March 24th. The stock was sold at an average price of $247.03, for a total value of $1,055,312.16. Following the transaction, the chief operating officer now directly owns 50,197 shares in the company, valued at $12,400,164.91. This represents a 7.84 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 73,545 shares of company stock worth $19,149,144. 0.47% of the stock is currently owned by insiders.

JPMorgan Chase & Co. Stock Performance

Shares of JPM traded down $1.17 during midday trading on Friday, reaching $243.47. 8,585,185 shares of the stock were exchanged, compared to its average volume of 9,619,219. The company has a market capitalization of $677.58 billion, a price-to-earnings ratio of 12.33, a PEG ratio of 2.83 and a beta of 1.01. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.88 and a quick ratio of 0.89. JPMorgan Chase & Co. has a twelve month low of $188.46 and a twelve month high of $280.25. The business's 50-day moving average price is $241.63 and its 200 day moving average price is $243.39.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last posted its quarterly earnings data on Friday, April 11th. The financial services provider reported $5.07 earnings per share for the quarter, beating the consensus estimate of $4.63 by $0.44. JPMorgan Chase & Co. had a return on equity of 16.99% and a net margin of 20.96%. The business had revenue of $45.30 billion during the quarter, compared to the consensus estimate of $43.62 billion. During the same period in the prior year, the company earned $4.44 earnings per share. The company's revenue was up 8.0% compared to the same quarter last year. On average, sell-side analysts expect that JPMorgan Chase & Co. will post 18.1 EPS for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Friday, April 4th will be given a $1.40 dividend. This represents a $5.60 annualized dividend and a yield of 2.30%. The ex-dividend date is Friday, April 4th. This is a boost from JPMorgan Chase & Co.'s previous quarterly dividend of $1.25. JPMorgan Chase & Co.'s payout ratio is 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.