Miura Global Management LLC acquired a new stake in JPMorgan Chase & Co. (NYSE:JPM) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 7,000 shares of the financial services provider's stock, valued at approximately $1,678,000. JPMorgan Chase & Co. accounts for about 1.8% of Miura Global Management LLC's portfolio, making the stock its 24th largest holding.
A number of other hedge funds have also recently added to or reduced their stakes in the company. Geode Capital Management LLC grew its stake 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 valued at $14,161,171,000 after acquiring an additional 876,417 shares during the period. Norges Bank bought a new position in shares of JPMorgan Chase & Co. in the fourth quarter valued at approximately $8,310,884,000. Northern Trust Corp lifted its holdings in shares of JPMorgan Chase & Co. by 15.4% in 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 purchasing an additional 4,515,147 shares in the last quarter. Capital Research Global Investors lifted its holdings in shares of JPMorgan Chase & Co. by 9.1% in 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 purchasing an additional 1,914,049 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of 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 valued at $4,818,905,000 after purchasing an additional 71,122 shares in the last quarter. Institutional investors and hedge funds own 71.55% of the company's stock.
Wall Street Analysts Forecast Growth
A number of analysts recently commented on JPM shares. Robert W. Baird upgraded JPMorgan Chase & Co. from an "underperform" rating to a "neutral" rating and lifted their price target for the stock from $215.00 to $220.00 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 research note on Wednesday, April 2nd. Keefe, Bruyette & Woods boosted their target price on JPMorgan Chase & Co. from $257.00 to $264.00 and gave the company a "market perform" rating in a research note on Thursday, January 16th. Baird R W upgraded JPMorgan Chase & Co. from a "strong sell" rating to a "hold" rating in a research note on Friday, March 7th. Finally, StockNews.com lowered JPMorgan Chase & Co. from a "hold" rating to a "sell" rating in a research note on Tuesday, May 6th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and ten have given a buy rating to the company's stock. According to data from MarketBeat, JPMorgan Chase & Co. currently has an average rating of "Hold" and a consensus target price of $255.67.
View Our Latest Stock Analysis on JPMorgan Chase & Co.
JPMorgan Chase & Co. Trading Up 2.6%
Shares of JPM stock opened at $259.67 on Tuesday. 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 business has a 50-day moving average price of $238.44 and a two-hundred day moving average price of $246.08. JPMorgan Chase & Co. has a 12-month low of $190.88 and a 12-month high of $280.25. The firm has a market cap of $721.66 billion, a P/E ratio of 13.15, a price-to-earnings-growth ratio of 2.83 and a beta of 1.07.
JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last issued its quarterly earnings results on Friday, April 11th. The financial services provider reported $5.07 earnings per share (EPS) for the quarter, topping 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 during the quarter, compared to analyst estimates of $43.62 billion. During the same quarter in the previous year, the company posted $4.44 earnings per share. The company's revenue was up 8.0% compared to the same quarter last year. Equities analysts anticipate that JPMorgan Chase & Co. will post 18.1 EPS for the current fiscal year.
JPMorgan Chase & Co. Increases Dividend
The business also recently announced a quarterly dividend, which was paid on Wednesday, April 30th. Stockholders of record on Friday, April 4th were paid a $1.40 dividend. This represents a $5.60 dividend on an annualized basis and a dividend yield of 2.16%. The ex-dividend date of this dividend was Friday, April 4th. This is a positive change from JPMorgan Chase & Co.'s previous quarterly dividend of $1.25. JPMorgan Chase & Co.'s payout ratio is 27.49%.
Insider Activity
In other news, CFO Jeremy Barnum sold 40,014 shares of the business's stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $250.77, for a total value of $10,034,310.78. Following the completion of the sale, the chief financial officer now owns 18,017 shares of the company's stock, valued at approximately $4,518,123.09. The trade was a 68.95% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Jennifer Piepszak sold 6,129 shares of the company's stock in a transaction that occurred on Tuesday, May 6th. The shares were sold at an average price of $250.76, for a total value of $1,536,908.04. Following the transaction, the chief operating officer now directly owns 68,583 shares of the company's stock, valued at $17,197,873.08. The trade was a 8.20% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 129,188 shares of company stock valued at $33,095,363. Insiders own 0.47% of the company's stock.
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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