Parallel Advisors LLC Purchases 1,170 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Parallel Advisors LLC boosted its holdings in JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 0.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 129,516 shares of the financial services provider's stock after buying an additional 1,170 shares during the period. JPMorgan Chase & Co. makes up about 0.7% of Parallel Advisors LLC's investment portfolio, making the stock its 22nd biggest position. Parallel Advisors LLC's holdings in JPMorgan Chase & Co. were worth $31,046,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. SouthState Corp raised its position in shares of JPMorgan Chase & Co. by 1.0% in the 4th quarter. SouthState Corp now owns 154,062 shares of the financial services provider's stock valued at $36,930,000 after acquiring an additional 1,589 shares during the period. Gray Wealth Management Inc. increased its stake in JPMorgan Chase & Co. by 2.0% in the fourth quarter. Gray Wealth Management Inc. now owns 9,316 shares of the financial services provider's stock valued at $2,233,000 after purchasing an additional 186 shares in the last quarter. Rockport Wealth LLC raised its holdings in JPMorgan Chase & Co. by 4.7% in the fourth quarter. Rockport Wealth LLC now owns 1,639 shares of the financial services provider's stock worth $379,000 after purchasing an additional 73 shares during the period. IMG Wealth Management Inc. bought a new position in shares of JPMorgan Chase & Co. during the fourth quarter worth $325,000. Finally, Signature Wealth Management Group grew its holdings in shares of JPMorgan Chase & Co. by 22.0% in the 4th quarter. Signature Wealth Management Group now owns 2,299 shares of the financial services provider's stock valued at $551,000 after buying an additional 415 shares during the period. 71.55% of the stock is owned by institutional investors.

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JPMorgan Chase & Co. Stock Down 1.1 %

Shares of NYSE:JPM traded down $2.68 during midday trading on Thursday, hitting $248.35. The stock had a trading volume of 8,014,093 shares, compared to its average volume of 8,885,654. The company has a market cap of $694.41 billion, a P/E ratio of 12.58, a PEG ratio of 2.83 and a beta of 1.10. JPMorgan Chase & Co. has a 12 month low of $179.20 and a 12 month high of $280.25. The business's 50-day simple moving average is $257.88 and its 200-day simple moving average is $240.12. The company has a quick ratio of 0.89, a current ratio of 0.88 and a debt-to-equity ratio of 1.24.

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 EPS for the quarter, beating analysts' consensus estimates of $4.03 by $0.78. The company had revenue of $42.77 billion during 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%. The company's quarterly revenue was up 10.9% on a year-over-year basis. During the same quarter last year, the firm posted $3.04 EPS. On average, sell-side analysts forecast 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 declared a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Friday, April 4th will be issued a dividend of $1.40 per share. The ex-dividend date is Friday, April 4th. This represents a $5.60 dividend on an annualized basis and a yield of 2.25%. This is a boost from JPMorgan Chase & Co.'s previous quarterly dividend of $1.25. JPMorgan Chase & Co.'s dividend payout ratio (DPR) is presently 28.37%.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. Baird R W upgraded JPMorgan Chase & Co. from a "strong sell" rating to a "hold" rating in a report on Friday, March 7th. Truist Financial boosted their price objective on JPMorgan Chase & Co. from $260.00 to $268.00 and gave the company a "hold" rating in a research report on Thursday, January 16th. Bank of America lifted their price target on shares of JPMorgan Chase & Co. from $260.00 to $280.00 and gave the company a "buy" rating in a research note on Tuesday, January 7th. Piper Sandler raised their price objective on shares of JPMorgan Chase & Co. from $240.00 to $275.00 and gave the stock an "overweight" rating in a report on Tuesday, December 3rd. Finally, UBS Group upped their target price on shares of JPMorgan Chase & Co. from $276.00 to $287.00 and gave the stock a "buy" rating in a research note on Thursday, January 16th. Ten investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $252.89.

Insiders Place Their Bets

In related news, insider Robin Leopold sold 1,250 shares of the stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $270.09, for a total value of $337,612.50. Following the sale, the insider now owns 50,377 shares in the company, valued at approximately $13,606,323.93. This represents a 2.42 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, General Counsel Stacey Friedman sold 3,303 shares of JPMorgan Chase & Co. stock in a transaction on Thursday, January 16th. The stock was 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 of the company's stock, valued at approximately $12,092,622.80. This trade represents a 6.49 % decrease in their ownership of the stock. 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 90 days. 0.79% of the stock is currently owned by insiders.

JPMorgan Chase & Co. Company Profile

JPMorgan Chase & Co is a financial holding company, which engages in the provision of financial and investment banking services. The firm offers a range of investment banking products and services in all capital markets, including advising on corporate strategy and structure, capital raising in equity and debt markets, risk management, market making in cash securities and derivative instruments, and brokerage and research.