Northeast Investment Management boosted its position in JPMorgan Chase & Co. (NYSE:JPM – Get Rating) by 0.5% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 209,228 shares of the financial services provider’s stock after acquiring an additional 1,078 shares during the period. JPMorgan Chase & Co. accounts for 1.8% of Northeast Investment Management’s investment portfolio, making the stock its 18th biggest position. Northeast Investment Management’s holdings in JPMorgan Chase & Co. were worth $28,057,000 at the end of the most recent reporting period.
A number of other large investors have also added to or reduced their stakes in JPM. Cottage Street Advisors LLC grew its holdings in JPMorgan Chase & Co. by 11,378.2% in the 4th quarter. Cottage Street Advisors LLC now owns 4,100,117 shares of the financial services provider’s stock worth $674,000 after acquiring an additional 4,064,396 shares during the last quarter. Barclays PLC grew its holdings in JPMorgan Chase & Co. by 77.8% in the 3rd quarter. Barclays PLC now owns 8,071,119 shares of the financial services provider’s stock worth $843,433,000 after acquiring an additional 3,531,637 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of JPMorgan Chase & Co. by 1.1% during the 3rd quarter. Vanguard Group Inc. now owns 272,539,783 shares of the financial services provider’s stock valued at $28,480,408,000 after purchasing an additional 2,918,554 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its stake in shares of JPMorgan Chase & Co. by 7,427.6% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 2,664,092 shares of the financial services provider’s stock valued at $363,169,000 after purchasing an additional 2,628,701 shares in the last quarter. Finally, Federated Hermes Inc. boosted its stake in shares of JPMorgan Chase & Co. by 265.8% during the 3rd quarter. Federated Hermes Inc. now owns 3,391,632 shares of the financial services provider’s stock valued at $354,426,000 after purchasing an additional 2,464,462 shares in the last quarter. Institutional investors own 67.89% of the company’s stock.
Analyst Upgrades and Downgrades
A number of equities research analysts have recently weighed in on the stock. Piper Sandler lifted their target price on shares of JPMorgan Chase & Co. from $150.00 to $157.00 in a research note on Tuesday, January 17th. The Goldman Sachs Group upped their price objective on shares of JPMorgan Chase & Co. from $160.00 to $172.00 in a report on Friday. Barclays cut their price objective on shares of JPMorgan Chase & Co. from $189.00 to $179.00 and set an “overweight” rating on the stock in a report on Wednesday. Citigroup upped their price objective on shares of JPMorgan Chase & Co. from $150.00 to $165.00 in a report on Tuesday, January 17th. Finally, UBS Group set a $156.00 price objective on shares of JPMorgan Chase & Co. in a report on Friday, January 13th. Six equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $150.88.
JPMorgan Chase & Co. Stock Up 7.6 %
JPMorgan Chase & Co. (NYSE:JPM – Get Rating) last announced its earnings results on Friday, April 14th. The financial services provider reported $4.10 EPS for the quarter, beating analysts’ consensus estimates of $3.44 by $0.66. The business had revenue of $38.35 billion during the quarter, compared to analysts’ expectations of $35.77 billion. JPMorgan Chase & Co. had a net margin of 24.34% and a return on equity of 14.68%. The firm’s revenue was up 24.8% on a year-over-year basis. During the same period in the prior year, the company earned $2.63 earnings per share. On average, research analysts expect that JPMorgan Chase & Co. will post 12.73 earnings per share for the current year.
JPMorgan Chase & Co. Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Sunday, April 30th. Investors of record on Thursday, April 6th will be paid a dividend of $1.00 per share. The ex-dividend date of this dividend is Wednesday, April 5th. This represents a $4.00 annualized dividend and a yield of 2.88%. JPMorgan Chase & Co.’s payout ratio is 33.11%.
Insider Activity at JPMorgan Chase & Co.
In other JPMorgan Chase & Co. news, Vice Chairman Peter Scher sold 4,399 shares of the stock in a transaction on Tuesday, January 17th. The shares were sold at an average price of $140.32, for a total transaction of $617,267.68. Following the completion of the transaction, the insider now owns 36,369 shares in the company, valued at $5,103,298.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, Vice Chairman Peter Scher sold 4,399 shares of JPMorgan Chase & Co. stock in a transaction dated Tuesday, January 17th. The shares were sold at an average price of $140.32, for a total transaction of $617,267.68. Following the completion of the sale, the insider now owns 36,369 shares in the company, valued at approximately $5,103,298.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Mary E. Erdoes sold 10,340 shares of JPMorgan Chase & Co. stock in a transaction dated Tuesday, January 17th. The shares were sold at an average price of $140.29, for a total transaction of $1,450,598.60. Following the sale, the chief executive officer now owns 544,136 shares of the company’s stock, valued at approximately $76,336,839.44. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 37,887 shares of company stock valued at $5,315,762. Corporate insiders own 0.79% of the company’s stock.
JPMorgan Chase & Co. Company Profile
JPMorgan Chase & Co is a financial holding company, which engages in providing financial and investment banking services. The firm offers a range of investment banking products and services in all capital markets, including advising on corporate strategy and structure, capital raising in equity and debt markets, risk management, market making in cash securities and derivative instruments, and brokerage and research.
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