Marietta Investment Partners LLC lifted its position in JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 38.3% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 29,625 shares of the financial services provider's stock after purchasing an additional 8,200 shares during the quarter. JPMorgan Chase & Co. accounts for approximately 1.6% of Marietta Investment Partners LLC's holdings, making the stock its 19th biggest holding. Marietta Investment Partners LLC's holdings in JPMorgan Chase & Co. were worth $7,101,000 at the end of the most recent reporting period.
Other hedge funds have also made changes to their positions in the company. Principal Financial Group Inc. raised its position in JPMorgan Chase & Co. by 3.2% in the 3rd quarter. Principal Financial Group Inc. now owns 5,824,289 shares of the financial services provider's stock valued at $1,228,110,000 after purchasing an additional 182,648 shares during the last quarter. United Bank increased its stake in shares of JPMorgan Chase & Co. by 2.5% in the third quarter. United Bank now owns 25,354 shares of the financial services provider's stock valued at $5,346,000 after buying an additional 614 shares in the last quarter. Diversified LLC increased its stake in shares of JPMorgan Chase & Co. by 1.0% in the third quarter. Diversified LLC now owns 11,514 shares of the financial services provider's stock valued at $2,428,000 after buying an additional 117 shares in the last quarter. Acorn Wealth Advisors LLC raised its holdings in shares of JPMorgan Chase & Co. by 8.5% in the third quarter. Acorn Wealth Advisors LLC now owns 12,650 shares of the financial services provider's stock valued at $2,667,000 after buying an additional 994 shares during the last quarter. Finally, Blue Investment Partners LLC lifted its position in JPMorgan Chase & Co. by 42.9% during the 3rd quarter. Blue Investment Partners LLC now owns 2,062 shares of the financial services provider's stock worth $435,000 after buying an additional 619 shares in the last quarter. Institutional investors and hedge funds own 71.55% of the company's stock.
Insider Buying and Selling
In other news, insider Robin Leopold sold 1,250 shares of JPMorgan Chase & Co. stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $246.92, for a total value of $308,650.00. Following the completion of the transaction, the insider now owns 49,127 shares of the company's stock, valued at $12,130,438.84. This trade represents a 2.48 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, General Counsel Stacey Friedman sold 3,303 shares of the company's stock in a transaction dated Thursday, January 16th. The shares were sold at an average price of $253.94, for a total transaction of $838,763.82. Following the completion of the sale, the general counsel now directly owns 47,620 shares in the company, valued at approximately $12,092,622.80. The trade was a 6.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 76,848 shares of company stock worth $19,987,908. Insiders own 0.79% of the company's stock.
Wall Street Analyst Weigh In
JPM has been the subject of several research reports. Piper Sandler raised their price objective on shares of JPMorgan Chase & Co. from $240.00 to $275.00 and gave the company an "overweight" rating in a research report on Tuesday, December 3rd. Wolfe Research upgraded shares of JPMorgan Chase & Co. from a "peer perform" rating to an "outperform" rating and set a $269.00 price objective for the company in a research report on Friday, January 3rd. Baird R W raised JPMorgan Chase & Co. from a "strong sell" rating to a "hold" rating in a report on Friday, March 7th. Evercore ISI lowered their target price on JPMorgan Chase & Co. from $273.00 to $265.00 and set an "outperform" rating for the company in a research note on Tuesday. Finally, Bank of America raised 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. Ten investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $254.83.
View Our Latest Report on JPMorgan Chase & Co.
JPMorgan Chase & Co. Stock Down 0.7 %
NYSE:JPM traded down $1.72 on Tuesday, hitting $243.58. 8,048,355 shares of the company's stock were exchanged, compared to its average volume of 9,363,549. The firm has a 50-day moving average price of $256.88 and a 200-day moving average price of $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 debt-to-equity ratio of 1.24, a current ratio of 0.88 and a quick ratio of 0.89. The company has a market cap of $681.06 billion, a P/E 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 released its earnings results on Wednesday, January 15th. The financial services provider reported $4.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.03 by $0.78. The business 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%. JPMorgan Chase & Co.'s revenue was up 10.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $3.04 earnings per share. As a group, analysts expect that JPMorgan Chase & Co. will post 18.1 EPS for the current fiscal year.
JPMorgan Chase & Co. Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Friday, April 4th will be paid a $1.40 dividend. The ex-dividend date is Friday, April 4th. This is a boost from JPMorgan Chase & Co.'s previous quarterly dividend of $1.25. This represents a $5.60 annualized dividend and a dividend yield of 2.30%. JPMorgan Chase & Co.'s dividend payout ratio (DPR) 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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