Mitsubishi UFJ Trust & Banking Corp lowered its stake in shares of JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 6.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,521,986 shares of the financial services provider's stock after selling 97,104 shares during the period. JPMorgan Chase & Co. accounts for approximately 0.9% of Mitsubishi UFJ Trust & Banking Corp's portfolio, making the stock its 12th biggest holding. Mitsubishi UFJ Trust & Banking Corp owned 0.05% of JPMorgan Chase & Co. worth $364,835,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Midwest Capital Advisors LLC purchased a new position in shares of JPMorgan Chase & Co. during the 4th quarter worth about $43,000. Legacy Investment Solutions LLC purchased a new position in shares of JPMorgan Chase & Co. in the 3rd quarter worth $45,000. Collier Financial purchased a new position in shares of JPMorgan Chase & Co. in the 4th quarter worth $45,000. Lowe Wealth Advisors LLC raised its holdings 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 period. Finally, Kieckhefer Group LLC purchased a new position in shares of JPMorgan Chase & Co. in the 4th quarter worth about $50,000. Hedge funds and other institutional investors own 71.55% of the company's stock.
Wall Street Analyst Weigh In
A number of research firms recently issued reports on JPM. Robert W. Baird raised 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 research report on Friday, March 7th. UBS Group raised their target price on shares of JPMorgan Chase & Co. from $276.00 to $287.00 and gave the company a "buy" rating in a research note on Thursday, January 16th. Barclays increased their price target on JPMorgan Chase & Co. from $304.00 to $330.00 and gave the company an "overweight" rating in a report on Thursday, January 16th. Bank of America boosted their price objective on JPMorgan Chase & Co. from $260.00 to $280.00 and gave the stock a "buy" rating in a research note on Tuesday, January 7th. Finally, Piper Sandler raised their target price on JPMorgan Chase & Co. from $240.00 to $275.00 and gave the company an "overweight" rating in a report on Tuesday, December 3rd. Ten analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, JPMorgan Chase & Co. presently has an average rating of "Moderate Buy" and an average price target of $254.83.
Check Out Our Latest Stock Report on JPM
JPMorgan Chase & Co. Stock Performance
Shares of NYSE:JPM traded down $1.72 during trading on Tuesday, hitting $243.58. 8,048,331 shares of the company traded hands, compared to its average volume of 10,485,738. The stock has a market capitalization of $681.06 billion, a price-to-earnings ratio of 12.34, a PEG ratio of 2.83 and a beta of 1.10. JPMorgan Chase & Co. has a one year low of $179.20 and a one year 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 business's fifty day moving average is $257.27 and its 200-day moving average is $241.05.
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 the consensus estimate of $4.03 by $0.78. The firm had revenue of $42.77 billion for the quarter, compared to the consensus estimate of $41.90 billion. JPMorgan Chase & Co. had a net margin of 20.96% and a return on equity of 16.99%. JPMorgan Chase & Co.'s quarterly revenue was up 10.9% compared to the same quarter last year. During the same period last year, the firm posted $3.04 EPS. As a group, equities 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. Shareholders of record on Friday, April 4th will be paid a dividend of $1.40 per share. The ex-dividend date of this dividend is Friday, April 4th. This represents a $5.60 annualized dividend and a yield of 2.30%. This is an increase from JPMorgan Chase & Co.'s previous quarterly dividend of $1.25. JPMorgan Chase & Co.'s payout ratio is presently 28.37%.
Insider Activity at JPMorgan Chase & Co.
In related news, insider Robin Leopold sold 1,250 shares of the business's stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $270.09, for a total transaction of $337,612.50. Following the sale, the insider now owns 50,377 shares of the company's stock, valued at $13,606,323.93. The trade was a 2.42 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Troy L. Rohrbaugh sold 37,500 shares of the firm's stock in a transaction dated 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 transaction, the chief executive officer now owns 158,381 shares of the company's stock, valued at approximately $42,737,529.04. This trade represents a 19.14 % 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 worth $19,987,908 over the last ninety days. 0.79% of the stock is currently owned by corporate insiders.
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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