Synovus Financial Corp Sells 2,944 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Synovus Financial Corp reduced its holdings in JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 1.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 301,637 shares of the financial services provider's stock after selling 2,944 shares during the quarter. JPMorgan Chase & Co. comprises 0.9% of Synovus Financial Corp's holdings, making the stock its 19th largest holding. Synovus Financial Corp's holdings in JPMorgan Chase & Co. were worth $72,320,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Geode Capital Management LLC grew its holdings in JPMorgan Chase & Co. by 1.5% in the fourth quarter. Geode Capital Management LLC now owns 59,220,603 shares of the financial services provider's stock worth $14,161,171,000 after purchasing an additional 876,417 shares during the period. Norges Bank bought a new stake in JPMorgan Chase & Co. in the 4th quarter valued at about $8,310,884,000. Charles Schwab Investment Management Inc. boosted its holdings in JPMorgan Chase & Co. by 0.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 20,103,063 shares of the financial services provider's stock worth $4,818,905,000 after acquiring an additional 71,122 shares in the last quarter. Fisher Asset Management LLC grew its stake in JPMorgan Chase & Co. by 3.7% in the fourth quarter. Fisher Asset Management LLC now owns 17,401,436 shares of the financial services provider's stock valued at $4,171,298,000 after acquiring an additional 617,164 shares during the period. Finally, Franklin Resources Inc. raised its position in shares of JPMorgan Chase & Co. by 7.2% during the third quarter. Franklin Resources Inc. now owns 15,073,193 shares of the financial services provider's stock worth $3,338,955,000 after purchasing an additional 1,016,289 shares during the period. 71.55% of the stock is currently owned by institutional investors.

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Wall Street Analysts Forecast Growth

JPM has been the topic of several research reports. Truist Financial lowered their price objective on shares of JPMorgan Chase & Co. from $264.00 to $251.00 and set a "hold" rating on the stock in a report on Monday. UBS Group boosted their price objective on JPMorgan Chase & Co. from $276.00 to $287.00 and gave the stock a "buy" rating in a report on Thursday, January 16th. Baird R W raised JPMorgan Chase & Co. from a "strong sell" rating to a "hold" rating in a research report on Friday, March 7th. 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 note on Friday, January 3rd. Finally, KGI Securities began coverage on shares of JPMorgan Chase & Co. in a report on Sunday. They issued a "hold" rating for the company. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $254.11.

JPMorgan Chase & Co. Stock Performance

JPMorgan Chase & Co. stock traded down $1.68 during midday trading on Tuesday, reaching $233.04. The stock had a trading volume of 10,902,541 shares, compared to its average volume of 9,642,534. The firm has a market capitalization of $648.54 billion, a PE ratio of 11.81, a P/E/G ratio of 2.83 and a beta of 1.01. JPMorgan Chase & Co. has a 12 month low of $179.20 and a 12 month 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 firm's 50-day moving average price is $247.29 and its 200 day moving average price is $242.36.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last announced its quarterly earnings results on Friday, April 11th. The financial services provider reported $5.07 EPS for the quarter, beating analysts' consensus estimates of $4.63 by $0.44. The company had revenue of $45.30 billion for the quarter, compared to analysts' expectations of $43.62 billion. JPMorgan Chase & Co. had a net margin of 20.96% and a return on equity of 16.99%. JPMorgan Chase & Co.'s revenue was up 8.0% compared to the same quarter last year. During the same period in the prior year, the company posted $4.44 EPS. As a group, research analysts predict 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 declared a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Friday, April 4th will be issued a $1.40 dividend. This is a positive change from JPMorgan Chase & Co.'s previous quarterly dividend of $1.25. This represents a $5.60 dividend on an annualized basis and a dividend yield of 2.40%. The ex-dividend date is Friday, April 4th. JPMorgan Chase & Co.'s dividend payout ratio (DPR) is presently 27.49%.

Insider Activity

In other news, insider Robin Leopold sold 1,250 shares of the firm's stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $270.09, for a total value of $337,612.50. Following the completion of the transaction, the insider now directly owns 50,377 shares in the company, valued at approximately $13,606,323.93. This trade represents a 2.42 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Stacey Friedman sold 3,303 shares of the company's stock in a transaction that occurred 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 sale, the general counsel now directly owns 47,620 shares in the company, valued at $12,092,622.80. This trade represents a 6.49 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 76,848 shares of company stock worth $19,987,908. 0.79% of the stock is owned by corporate 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. 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.