IFG Advisory LLC reduced its position in shares of JPMorgan Chase & Co. (NYSE:JPM) by 20.6% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 23,710 shares of the financial services provider’s stock after selling 6,150 shares during the quarter. IFG Advisory LLC’s holdings in JPMorgan Chase & Co. were worth $3,179,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Cottage Street Advisors LLC lifted its stake in shares of JPMorgan Chase & Co. by 11,378.2% in the fourth quarter. Cottage Street Advisors LLC now owns 4,100,117 shares of the financial services provider’s stock valued at $674,000 after buying an additional 4,064,396 shares in the last quarter. Barclays PLC boosted its stake in JPMorgan Chase & Co. by 77.8% during the 3rd quarter. Barclays PLC now owns 8,071,119 shares of the financial services provider’s stock valued at $843,433,000 after purchasing an additional 3,531,637 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of JPMorgan Chase & Co. by 1.1% in the third quarter. Vanguard Group Inc. now owns 272,539,783 shares of the financial services provider’s stock worth $28,480,408,000 after purchasing an additional 2,918,554 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its holdings in shares of JPMorgan Chase & Co. by 7,427.6% in the first 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 position in shares of JPMorgan Chase & Co. by 265.8% during the third quarter. Federated Hermes Inc. now owns 3,391,632 shares of the financial services provider’s stock valued at $354,426,000 after buying an additional 2,464,462 shares during the last quarter. Institutional investors own 67.89% of the company’s stock.
Wall Street Analyst Weigh In
JPM has been the topic of several recent analyst reports. Barclays dropped their price objective on JPMorgan Chase & Co. from $189.00 to $179.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 12th. Piper Sandler boosted their price target on shares of JPMorgan Chase & Co. from $147.00 to $151.00 and gave the stock an “overweight” rating in a report on Monday. Evercore ISI dropped their target price on shares of JPMorgan Chase & Co. from $157.00 to $146.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 5th. Wells Fargo & Company boosted their target price on JPMorgan Chase & Co. from $155.00 to $165.00 and gave the stock an “overweight” rating in a research note on Monday. Finally, StockNews.com initiated coverage on JPMorgan Chase & Co. in a research report on Thursday, March 16th. They set a “hold” rating for the company. Six analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, JPMorgan Chase & Co. presently has an average rating of “Moderate Buy” and an average target price of $154.94.
JPMorgan Chase & Co. Stock Performance
JPMorgan Chase & Co. (NYSE:JPM – Get Rating) last announced its quarterly earnings results on Friday, April 14th. The financial services provider reported $4.10 earnings per share for the quarter, beating the consensus estimate of $3.41 by $0.69. JPMorgan Chase & Co. had a return on equity of 16.02% and a net margin of 23.73%. The firm had revenue of $38.35 billion for the quarter, compared to analysts’ expectations of $35.77 billion. During the same period in the prior year, the business posted $2.63 earnings per share. The company’s revenue was up 24.8% on a year-over-year basis. Research analysts forecast that JPMorgan Chase & Co. will post 13.13 EPS for the current fiscal year.
JPMorgan Chase & Co. Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Sunday, April 30th. Stockholders of record on Thursday, April 6th will be given a dividend of $1.00 per share. The ex-dividend date is Wednesday, April 5th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.83%. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is currently 29.52%.
JPMorgan Chase & Co. 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.
Featured Articles
- Get a free copy of the StockNews.com research report on JPMorgan Chase & Co. (JPM)
- ASML Reports Massive Growth, Management Points To Sluggish 2023
- Will Analyst Boost Send Lockheed Martin Shares Up, Up and Away?
- Mullen Automotive: Is The Bloom Off The Rose?
- Diversified Abbott Laboratories Could Reverse And Move Higher
- Okta Reversal In Progress While Catalysts Approach
Want to see what other hedge funds are holding JPM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for JPMorgan Chase & Co. (NYSE:JPM – Get Rating).
Receive News & Ratings for JPMorgan Chase & Co. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for JPMorgan Chase & Co. and related companies with MarketBeat.com's FREE daily email newsletter.
