Steamboat Capital Partners LLC acquired a new position in JPMorgan Chase & Co. (NYSE:JPM) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 4,981 shares of the financial services provider's stock, valued at approximately $1,194,000.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in JPM. Geode Capital Management LLC raised its stake in shares of JPMorgan Chase & Co. by 1.5% during the fourth quarter. Geode Capital Management LLC now owns 59,220,603 shares of the financial services provider's stock valued at $14,161,171,000 after acquiring an additional 876,417 shares in the last quarter. Norges Bank bought a new stake in shares of JPMorgan Chase & Co. during the fourth quarter valued at approximately $8,310,884,000. Northern Trust Corp raised its stake in shares of JPMorgan Chase & Co. by 15.4% during the fourth quarter. Northern Trust Corp now owns 33,845,676 shares of the financial services provider's stock valued at $8,113,147,000 after acquiring an additional 4,515,147 shares in the last quarter. Capital Research Global Investors raised its stake in shares of JPMorgan Chase & Co. by 9.1% during the fourth quarter. Capital Research Global Investors now owns 22,841,033 shares of the financial services provider's stock valued at $5,475,223,000 after acquiring an additional 1,914,049 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of JPMorgan Chase & Co. by 0.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 20,103,063 shares of the financial services provider's stock valued at $4,818,905,000 after acquiring an additional 71,122 shares in the last quarter. 71.55% of the stock is owned by hedge funds and other institutional investors.
Insider Activity at JPMorgan Chase & Co.
In other JPMorgan Chase & Co. news, COO Jennifer Piepszak sold 4,273 shares of the company's stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $269.85, for a total value of $1,153,069.05. Following the sale, the chief operating officer now directly owns 54,469 shares of the company's stock, valued at approximately $14,698,459.65. This represents a 7.27% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Robin Leopold sold 1,250 shares of the company's stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $270.09, for a total transaction of $337,612.50. Following the completion of the sale, the insider now directly owns 50,377 shares in the company, valued at approximately $13,606,323.93. The trade was a 2.42% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 129,188 shares of company stock valued at $33,095,363 in the last ninety days. Company insiders own 0.47% of the company's stock.
JPMorgan Chase & Co. Price Performance
NYSE JPM opened at $267.65 on Friday. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.88 and a quick ratio of 0.89. The stock's fifty day moving average price is $240.72 and its 200 day moving average price is $247.08. JPMorgan Chase & Co. has a 1 year low of $190.88 and a 1 year high of $280.25. The company has a market cap of $743.83 billion, a price-to-earnings ratio of 13.56, a PEG ratio of 2.83 and a beta of 1.07.
JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last released its earnings results on Friday, April 11th. The financial services provider reported $5.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.63 by $0.44. JPMorgan Chase & Co. had a return on equity of 16.99% and a net margin of 20.96%. The firm had revenue of $45.30 billion for the quarter, compared to the consensus estimate of $43.62 billion. During the same period in the prior year, the firm earned $4.44 EPS. The firm's revenue was up 8.0% on a year-over-year basis. As a group, equities research analysts forecast that JPMorgan Chase & Co. will post 18.1 earnings per share for the current year.
JPMorgan Chase & Co. Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Wednesday, April 30th. Investors of record on Friday, April 4th were given a $1.40 dividend. This represents a $5.60 annualized dividend and a dividend yield of 2.09%. This is an increase from JPMorgan Chase & Co.'s previous quarterly dividend of $1.25. The ex-dividend date was Friday, April 4th. JPMorgan Chase & Co.'s dividend payout ratio is presently 27.49%.
Analyst Upgrades and Downgrades
Several analysts have recently weighed in on JPM shares. Robert W. Baird raised shares of JPMorgan Chase & Co. from an "underperform" rating to a "neutral" rating and lifted their price target for the company from $215.00 to $220.00 in a research note on Friday, March 7th. Baird R W raised shares of JPMorgan Chase & Co. from a "strong sell" rating to a "hold" rating in a report on Friday, March 7th. TD Cowen initiated coverage on shares of JPMorgan Chase & Co. in a report on Thursday. They set a "buy" rating and a $305.00 price objective on the stock. StockNews.com raised shares of JPMorgan Chase & Co. from a "sell" rating to a "hold" rating in a report on Wednesday. Finally, Truist Financial set a $261.00 price objective on shares of JPMorgan Chase & Co. in a report on Monday, April 14th. Eleven investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $258.26.
Check Out Our Latest Stock Analysis on JPM
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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