JPMorgan Chase & Co. (NYSE:JPM) Shares Sold by Summit Global Investments

Summit Global Investments lessened its position in shares of JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 71.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 9,071 shares of the financial services provider's stock after selling 22,764 shares during the period. Summit Global Investments' holdings in JPMorgan Chase & Co. were worth $2,174,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Disciplined Investments LLC bought a new stake in JPMorgan Chase & Co. during the 4th quarter valued at $217,000. LGT Group Foundation raised its stake in shares of JPMorgan Chase & Co. by 2.8% during the fourth quarter. LGT Group Foundation now owns 525,801 shares of the financial services provider's stock valued at $126,040,000 after acquiring an additional 14,300 shares during the last quarter. Kinsale Capital Group Inc. boosted its holdings in shares of JPMorgan Chase & Co. by 11.1% during the fourth quarter. Kinsale Capital Group Inc. now owns 43,732 shares of the financial services provider's stock worth $10,483,000 after purchasing an additional 4,375 shares during the period. Jag Capital Management LLC grew its stake in shares of JPMorgan Chase & Co. by 10.5% in the fourth quarter. Jag Capital Management LLC now owns 1,474 shares of the financial services provider's stock worth $353,000 after purchasing an additional 140 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its stake in shares of JPMorgan Chase & Co. by 7.7% in the third quarter. JPMorgan Chase & Co. now owns 4,450,775 shares of the financial services provider's stock worth $938,491,000 after purchasing an additional 319,730 shares during the last quarter. 71.55% of the stock is currently owned by hedge funds and other institutional investors.

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Insider Activity

In related news, General Counsel Stacey Friedman sold 3,303 shares of the firm's stock in a transaction dated Thursday, January 16th. The stock was sold at an average price of $253.94, for a total transaction of $838,763.82. Following the sale, the general counsel now owns 47,620 shares of the company's stock, valued at $12,092,622.80. This trade 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 available through this link. Also, CEO Troy L. Rohrbaugh sold 37,500 shares of JPMorgan Chase & Co. 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 completion of the transaction, the chief executive officer now owns 158,381 shares in the company, valued at $42,737,529.04. This trade represents a 19.14 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 76,848 shares of company stock worth $19,987,908. 0.79% of the stock is currently owned by company insiders.

JPMorgan Chase & Co. Stock Down 0.8 %

JPMorgan Chase & Co. stock traded down $1.88 during midday trading on Monday, hitting $240.97. 2,192,209 shares of the company's stock were exchanged, compared to its average volume of 9,316,132. 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 company has a market cap of $673.79 billion, a PE ratio of 12.20, a P/E/G ratio of 2.83 and a beta of 1.10. The firm has a 50-day moving average of $257.55 and a two-hundred day moving average of $240.77. 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 released its quarterly earnings data on Wednesday, January 15th. The financial services provider reported $4.81 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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%. The company's quarterly revenue was up 10.9% on a year-over-year basis. During the same period last year, the firm earned $3.04 earnings per share. As a group, 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. Shareholders of record on Friday, April 4th will be given a dividend of $1.40 per share. This represents a $5.60 annualized dividend and a yield of 2.32%. The ex-dividend date of this dividend is Friday, April 4th. This is a boost from JPMorgan Chase & Co.'s previous quarterly dividend of $1.25. JPMorgan Chase & Co.'s dividend payout ratio (DPR) is 28.37%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on JPM shares. Wolfe Research upgraded JPMorgan Chase & Co. from a "peer perform" rating to an "outperform" rating and set a $269.00 price objective on the stock in a research report on Friday, January 3rd. Truist Financial increased their price target on shares of JPMorgan Chase & Co. from $260.00 to $268.00 and gave the company a "hold" rating in a report on Thursday, January 16th. Piper Sandler increased their target price on JPMorgan Chase & Co. from $240.00 to $275.00 and gave the company an "overweight" rating in a research note on Tuesday, December 3rd. Robert W. Baird raised JPMorgan Chase & Co. from an "underperform" rating to a "neutral" rating and lifted their target price for the stock from $215.00 to $220.00 in a report on Friday, March 7th. Finally, Bank of America upped 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 given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $252.89.

JPMorgan Chase & Co. Company Profile

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.