MainStreet Investment Advisors LLC cut its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 1.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 109,392 shares of the financial services provider’s stock after selling 2,044 shares during the quarter. JPMorgan Chase & Co. makes up about 1.6% of MainStreet Investment Advisors LLC’s holdings, making the stock its 18th biggest holding. MainStreet Investment Advisors LLC’s holdings in JPMorgan Chase & Co. were worth $14,669,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. raised its position in JPMorgan Chase & Co. by 1.1% in the 3rd quarter. Vanguard Group Inc. now owns 272,539,783 shares of the financial services provider’s stock worth $28,480,408,000 after buying an additional 2,918,554 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in JPMorgan Chase & Co. by 5.3% in the 3rd quarter. Dimensional Fund Advisors LP now owns 21,084,558 shares of the financial services provider’s stock worth $2,203,621,000 after acquiring an additional 1,058,790 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in JPMorgan Chase & Co. by 4.5% during the first quarter. Charles Schwab Investment Management Inc. now owns 18,607,661 shares of the financial services provider’s stock valued at $2,536,598,000 after acquiring an additional 805,196 shares during the period. Nuveen Asset Management LLC grew its holdings in JPMorgan Chase & Co. by 0.7% during the 3rd quarter. Nuveen Asset Management LLC now owns 15,606,783 shares of the financial services provider’s stock valued at $1,630,909,000 after buying an additional 102,242 shares in the last quarter. Finally, Boston Partners lifted its stake in JPMorgan Chase & Co. by 28.4% in the 3rd quarter. Boston Partners now owns 10,063,918 shares of the financial services provider’s stock worth $1,061,182,000 after purchasing an additional 2,227,785 shares in the last quarter. Hedge funds and other institutional investors own 67.89% of the company’s stock.
Wall Street Analysts Forecast Growth
JPM has been the topic of several research reports. Citigroup boosted their price target on shares of JPMorgan Chase & Co. from $150.00 to $165.00 in a research report on Tuesday, January 17th. UBS Group set a $156.00 price objective on JPMorgan Chase & Co. in a research note on Friday, January 13th. Bank of America boosted their target price on JPMorgan Chase & Co. from $152.00 to $158.00 and gave the company a “buy” rating in a research report on Monday, April 17th. Royal Bank of Canada lowered their price target on JPMorgan Chase & Co. from $150.00 to $132.00 and set an “outperform” rating for the company in a research report on Friday, March 24th. Finally, Credit Suisse Group boosted their price objective on shares of JPMorgan Chase & Co. from $155.00 to $160.00 in a research report on Tuesday, April 18th. Six investment 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 presently has a consensus rating of “Moderate Buy” and a consensus target price of $154.94.
JPMorgan Chase & Co. Stock Performance
JPMorgan Chase & Co. (NYSE:JPM – Get Rating) last released its quarterly earnings results on Friday, April 14th. The financial services provider reported $4.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.41 by $0.69. The business had revenue of $38.35 billion for the quarter, compared to analyst estimates of $35.77 billion. JPMorgan Chase & Co. had a net margin of 23.73% and a return on equity of 16.02%. The business’s revenue for the quarter was up 24.8% on a year-over-year basis. During the same period in the previous year, the company earned $2.63 earnings per share. On average, equities analysts forecast that JPMorgan Chase & Co. will post 13.85 EPS for the current fiscal year.
JPMorgan Chase & Co. Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Sunday, April 30th. Stockholders 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 dividend on an annualized basis and a dividend yield of 2.92%. JPMorgan Chase & Co.’s payout ratio is 29.52%.
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.
Featured Stories
- Get a free copy of the StockNews.com research report on JPMorgan Chase & Co. (JPM)
- 10 E-commerce Stocks to Consider for Long-Term Buys
- Joby Aviation Extends Deal With Air Force, Analysts Maintain Hold
- Meta’s Earnings; Time To Buckle Up
- Why Invest in High-Yield Dividend Stocks?
- Dividend Prince Automatic Data Processing Hits Bottom
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.
