Rit Capital Partners PLC bought a new stake in shares of JPMorgan Chase & Co. (NYSE:JPM - Free Report) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 152,600 shares of the financial services provider's stock, valued at approximately $36,619,000. JPMorgan Chase & Co. comprises 4.4% of Rit Capital Partners PLC's investment portfolio, making the stock its 8th largest position.
Other hedge funds have also recently made changes to their positions in the company. Principal Financial Group Inc. lifted its holdings in shares of JPMorgan Chase & Co. by 3.2% during the third 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 in the last quarter. United Bank raised its position in JPMorgan Chase & Co. by 2.5% in the 3rd quarter. United Bank now owns 25,354 shares of the financial services provider's stock worth $5,346,000 after buying an additional 614 shares during the last quarter. Jacobs Levy Equity Management Inc. lifted its stake in JPMorgan Chase & Co. by 13.8% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 42,511 shares of the financial services provider's stock valued at $8,964,000 after acquiring an additional 5,152 shares during the period. Motley Fool Asset Management LLC boosted its holdings in shares of JPMorgan Chase & Co. by 2.7% during the 3rd quarter. Motley Fool Asset Management LLC now owns 114,500 shares of the financial services provider's stock valued at $23,706,000 after acquiring an additional 3,009 shares during the last quarter. Finally, Morse Asset Management Inc grew its stake in shares of JPMorgan Chase & Co. by 236.5% in the third quarter. Morse Asset Management Inc now owns 7,271 shares of the financial services provider's stock worth $1,533,000 after acquiring an additional 5,110 shares during the period. 71.55% of the stock is owned by institutional investors.
Analyst Upgrades and Downgrades
Several research firms have recently weighed in on JPM. 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 lowered their target price on JPMorgan Chase & Co. from $285.00 to $284.00 and set a "buy" rating on the stock in a report on Wednesday. Truist Financial boosted their price target on JPMorgan Chase & Co. from $260.00 to $268.00 and gave the company a "hold" rating in a research note on Thursday, January 16th. Evercore ISI lowered their price objective on shares of JPMorgan Chase & Co. from $273.00 to $265.00 and set an "outperform" rating on the stock in a research note on Tuesday. Finally, Wolfe Research raised shares of JPMorgan Chase & Co. from a "peer perform" rating to an "outperform" rating and set a $269.00 price objective on the stock in a report on Friday, January 3rd. Ten investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company's stock. Based on data from MarketBeat, JPMorgan Chase & Co. currently has an average rating of "Moderate Buy" and an average target price of $255.06.
Check Out Our Latest Analysis on JPM
Insider Buying and Selling
In other JPMorgan Chase & Co. news, insider Robin Leopold sold 1,250 shares of the stock in a transaction dated Monday, March 24th. The shares were 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 owns 49,127 shares of the company's stock, valued at $12,130,438.84. This represents a 2.48 % decrease in their position. The transaction 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 value 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. The trade was a 19.14 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 76,848 shares of company stock worth $19,987,908. 0.79% of the stock is owned by insiders.
JPMorgan Chase & Co. Price Performance
Shares of JPMorgan Chase & Co. stock traded down $17.23 during trading hours on Thursday, hitting $228.60. The company's stock had a trading volume of 17,164,458 shares, compared to its average volume of 9,398,057. The company has a market cap of $639.18 billion, a PE ratio of 11.58, a PEG ratio of 2.83 and a beta of 1.10. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.89 and a current ratio of 0.88. The business has a 50 day moving average price of $256.54 and a two-hundred day moving average price of $241.36. JPMorgan Chase & Co. has a 12-month low of $179.20 and a 12-month high of $280.25.
JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last posted its quarterly earnings results on Wednesday, January 15th. The financial services provider reported $4.81 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 company had revenue of $42.77 billion for the quarter, compared to analysts' expectations of $41.90 billion. During the same period in the previous year, the firm earned $3.04 EPS. The firm's revenue was up 10.9% compared to the same quarter last year. Analysts expect that JPMorgan Chase & Co. will post 18.1 earnings per share for the current fiscal year.
JPMorgan Chase & Co. Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Friday, April 4th will be given a dividend of $1.40 per share. This is a positive change from JPMorgan Chase & Co.'s previous quarterly dividend of $1.25. The ex-dividend date of this dividend is Friday, April 4th. This represents a $5.60 dividend on an annualized basis and a dividend yield of 2.45%. JPMorgan Chase & Co.'s dividend payout ratio 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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