The Manufacturers Life Insurance Company Trims Holdings in JPMorgan Chase & Co. (NYSE:JPM)

The Manufacturers Life Insurance Company cut its stake in shares of JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 0.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,677,736 shares of the financial services provider's stock after selling 24,967 shares during the quarter. The Manufacturers Life Insurance Company owned approximately 0.10% of JPMorgan Chase & Co. worth $641,880,000 at the end of the most recent reporting period.

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

Analyst Ratings Changes

Several brokerages have recently issued reports on JPM. Wolfe Research raised JPMorgan Chase & Co. from a "peer perform" rating to an "outperform" rating and set a $269.00 price objective on the stock in a report on Friday, January 3rd. StockNews.com upgraded shares of JPMorgan Chase & Co. from a "sell" rating to a "hold" rating in a research report on Monday. Barclays boosted their target price on shares of JPMorgan Chase & Co. from $304.00 to $330.00 and gave the stock an "overweight" rating in a report on Thursday, January 16th. Bank of America lowered their price target on shares of JPMorgan Chase & Co. from $285.00 to $284.00 and set a "buy" rating for the company in a report on Wednesday, April 2nd. Finally, Truist Financial set a $261.00 price objective on JPMorgan Chase & Co. in a research note on Monday, April 14th. Eleven investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $255.67.

Insider Transactions at JPMorgan Chase & Co.

In other news, COO Jennifer Piepszak sold 4,273 shares of the business's stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $269.85, for a total transaction of $1,153,069.05. Following the transaction, the chief operating officer now owns 54,469 shares of the company's stock, valued at approximately $14,698,459.65. The trade was a 7.27 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Robin Leopold sold 1,250 shares of the company's stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $246.92, for a total value of $308,650.00. Following the completion of the transaction, the insider now owns 49,127 shares in the company, valued at $12,130,438.84. This represents a 2.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 73,545 shares of company stock valued at $19,149,144 in the last ninety days. 0.47% of the stock is currently owned by corporate insiders.

JPMorgan Chase & Co. Stock Down 0.0 %

Shares of JPM traded down $0.09 during midday trading on Wednesday, reaching $244.53. 12,972,514 shares of the stock were exchanged, compared to its average volume of 9,649,373. The company has a current ratio of 0.88, a quick ratio of 0.89 and a debt-to-equity ratio of 1.24. The company's 50 day moving average is $239.74 and its two-hundred day moving average is $244.19. The company has a market capitalization of $680.53 billion, a P/E ratio of 12.39, a PEG ratio of 2.83 and a beta of 1.01. JPMorgan Chase & Co. has a 52 week low of $188.46 and a 52 week high of $280.25.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last released 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 net margin of 20.96% and a return on equity of 16.99%. The business had revenue of $45.30 billion for the quarter, compared to analyst estimates of $43.62 billion. During the same period in the previous year, the company earned $4.44 earnings per share. The business's revenue for the quarter was up 8.0% on a year-over-year basis. On average, sell-side analysts anticipate that JPMorgan Chase & Co. will post 18.1 earnings per share for the current year.

JPMorgan Chase & Co. Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Friday, April 4th will be given a $1.40 dividend. The ex-dividend date of this dividend is Friday, April 4th. This represents a $5.60 dividend on an annualized basis and a dividend yield of 2.29%. This is an increase from JPMorgan Chase & Co.'s previous quarterly dividend of $1.25. JPMorgan Chase & Co.'s dividend payout ratio is 27.49%.

About JPMorgan Chase & Co.

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.