Korea Investment CORP Trims Stock Position in JPMorgan Chase & Co. (NYSE:JPM)

Korea Investment CORP lessened its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 2.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,115,891 shares of the financial services provider's stock after selling 56,829 shares during the quarter. JPMorgan Chase & Co. makes up 1.2% of Korea Investment CORP's investment portfolio, making the stock its 10th largest holding. Korea Investment CORP owned 0.08% of JPMorgan Chase & Co. worth $507,200,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Principal Financial Group Inc. grew its position in JPMorgan Chase & Co. by 3.2% in 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 acquiring an additional 182,648 shares in the last quarter. United Bank boosted its holdings in JPMorgan Chase & Co. by 2.5% in the third quarter. United Bank now owns 25,354 shares of the financial services provider's stock worth $5,346,000 after purchasing an additional 614 shares in the last quarter. Edgestream Partners L.P. increased its position in JPMorgan Chase & Co. by 62.7% during the third quarter. Edgestream Partners L.P. now owns 9,661 shares of the financial services provider's stock worth $2,037,000 after buying an additional 3,723 shares during the last quarter. Aureus Asset Management LLC raised its holdings in JPMorgan Chase & Co. by 0.5% during the third quarter. Aureus Asset Management LLC now owns 17,305 shares of the financial services provider's stock valued at $3,649,000 after buying an additional 89 shares in the last quarter. Finally, Benjamin Edwards Inc. lifted its position in shares of JPMorgan Chase & Co. by 425.0% in the third quarter. Benjamin Edwards Inc. now owns 140,556 shares of the financial services provider's stock worth $29,670,000 after buying an additional 113,781 shares during the last quarter. Hedge funds and other institutional investors own 71.55% of the company's stock.

JPMorgan Chase & Co. Stock Performance

JPM traded down $18.60 during trading on Friday, reaching $210.09. 27,144,537 shares of the company's stock were exchanged, compared to its average volume of 9,469,279. The company has a market capitalization of $587.43 billion, a P/E ratio of 10.64, a PEG ratio of 2.83 and a beta of 1.10. 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 business has a 50 day moving average price of $254.71 and a 200 day moving average price of $241.29. JPMorgan Chase & Co. has a fifty-two week low of $179.20 and a fifty-two week high of $280.25.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last issued its earnings results on Wednesday, January 15th. The financial services provider reported $4.81 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $4.03 by $0.78. JPMorgan Chase & Co. had a return on equity of 16.99% and a net margin of 20.96%. The business had revenue of $42.77 billion during the quarter, compared to analysts' expectations of $41.90 billion. During the same period in the prior year, the firm posted $3.04 EPS. JPMorgan Chase & Co.'s quarterly revenue was up 10.9% compared to the same quarter last year. As a group, analysts predict that JPMorgan Chase & Co. will post 18.1 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The firm also recently announced 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. The ex-dividend date is Friday, April 4th. 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 2.67%. JPMorgan Chase & Co.'s dividend payout ratio (DPR) is 28.37%.

Insider Activity

In other news, General Counsel Stacey Friedman sold 3,303 shares of the company's 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 directly owns 47,620 shares in the company, valued at approximately $12,092,622.80. This represents a 6.49 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Troy L. Rohrbaugh sold 37,500 shares of the 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 sale, the chief executive officer now directly owns 158,381 shares in the company, valued at $42,737,529.04. This trade represents a 19.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 76,848 shares of company stock worth $19,987,908. 0.79% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on JPM shares. Baird R W raised JPMorgan Chase & Co. from a "strong sell" rating to a "hold" rating in a report on Friday, March 7th. Bank of America dropped their price target on shares of JPMorgan Chase & Co. from $285.00 to $284.00 and set a "buy" rating on the stock in a research report on Wednesday. Truist Financial decreased their price objective on shares of JPMorgan Chase & Co. from $268.00 to $264.00 and set a "hold" rating for the company in a report on Friday. Wolfe Research upgraded shares of JPMorgan Chase & Co. from a "peer perform" rating to an "outperform" rating and set a $269.00 target price on the stock in a report on Friday, January 3rd. Finally, Keefe, Bruyette & Woods upped their price target on shares of JPMorgan Chase & Co. from $257.00 to $264.00 and gave the company a "market perform" rating in a report on Thursday, January 16th. Ten equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $254.83.

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.