Thornburg Investment Management Inc. Lowers Holdings in JPMorgan Chase & Co. (NYSE:JPM)

Thornburg Investment Management Inc. decreased its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 35.3% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 649,220 shares of the financial services provider's stock after selling 353,487 shares during the period. JPMorgan Chase & Co. accounts for about 2.1% of Thornburg Investment Management Inc.'s portfolio, making the stock its 11th largest position. Thornburg Investment Management Inc.'s holdings in JPMorgan Chase & Co. were worth $155,625,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Redwood Park Advisors LLC bought a new stake in shares of JPMorgan Chase & Co. in the 4th quarter valued at about $29,000. Sellwood Investment Partners LLC acquired a new stake in JPMorgan Chase & Co. in the fourth quarter valued at approximately $34,000. Investment Counsel Co. of Nevada purchased a new position in JPMorgan Chase & Co. in the fourth quarter worth $37,000. Midwest Capital Advisors LLC acquired a new position in shares of JPMorgan Chase & Co. during the fourth quarter worth $43,000. Finally, Prudent Man Investment Management Inc. purchased a new stake in shares of JPMorgan Chase & Co. during the 4th quarter valued at $43,000. 71.55% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts recently weighed in on JPM shares. Baird R W upgraded JPMorgan Chase & Co. from a "strong sell" rating to a "hold" rating in a research note on Friday, March 7th. Truist Financial set a $261.00 price objective on shares of JPMorgan Chase & Co. in a research report on Monday, April 14th. UBS Group boosted their target price on shares of JPMorgan Chase & Co. from $277.00 to $305.00 and gave the stock a "buy" rating in a research report on Thursday, April 17th. Bank of America reduced their target price on JPMorgan Chase & Co. from $285.00 to $284.00 and set a "buy" rating for the company in a research note on Wednesday, April 2nd. Finally, TD Cowen started coverage on shares of JPMorgan Chase & Co. in a report on Thursday. They issued a "buy" rating and a $305.00 price objective on the stock. Eleven analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, JPMorgan Chase & Co. has a consensus rating of "Moderate Buy" and a consensus target price of $258.26.

JPMorgan Chase & Co. Price Performance

Shares of JPMorgan Chase & Co. stock 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 business has a 50 day simple moving average of $240.72 and a two-hundred day simple moving average of $247.08. The stock has a market capitalization of $743.83 billion, a P/E ratio of 13.56, a PEG ratio of 2.83 and a beta of 1.07. JPMorgan Chase & Co. has a 12 month low of $190.88 and a 12 month high of $280.25.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last announced its quarterly earnings data on Friday, April 11th. The financial services provider reported $5.07 earnings per share 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 analyst estimates of $43.62 billion. JPMorgan Chase & Co. had a return on equity of 16.99% and a net margin of 20.96%. The firm's revenue for the quarter was up 8.0% on a year-over-year basis. During the same quarter last year, the firm posted $4.44 EPS. As a group, analysts predict that JPMorgan Chase & Co. will post 18.1 EPS for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 30th. Shareholders of record on Friday, April 4th were issued a $1.40 dividend. This is an increase from JPMorgan Chase & Co.'s previous quarterly dividend of $1.25. The ex-dividend date of this dividend was Friday, April 4th. This represents a $5.60 dividend on an annualized basis and a yield of 2.09%. JPMorgan Chase & Co.'s dividend payout ratio is presently 27.49%.

Insiders Place Their Bets

In other JPMorgan Chase & Co. news, Director Linda Bammann sold 9,500 shares of JPMorgan Chase & Co. stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $250.00, for a total value of $2,375,000.00. Following the sale, the director now owns 91,539 shares in the company, valued at $22,884,750. The trade was a 9.40% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Robin Leopold sold 1,250 shares of the business'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 transaction of $337,612.50. Following the completion of the sale, the insider now directly owns 50,377 shares in the company, valued at $13,606,323.93. This trade represents a 2.42% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 129,188 shares of company stock valued at $33,095,363 in the last ninety days. 0.47% of the stock is currently 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.

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