Allspring Global Investments Holdings LLC grew its position in JPMorgan Chase & Co. (NYSE:JPM) by 10.8% in the first quarter, Holdings Channel.com reports. The fund owned 1,007,141 shares of the financial services provider’s stock after buying an additional 98,293 shares during the period. Allspring Global Investments Holdings LLC’s holdings in JPMorgan Chase & Co. were worth $131,241,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds also recently modified their holdings of JPM. Moneta Group Investment Advisors LLC lifted its position in shares of JPMorgan Chase & Co. by 105,652.2% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 98,000,567 shares of the financial services provider’s stock worth $13,141,876,000 after buying an additional 97,907,897 shares during the period. Norges Bank bought a new position in shares of JPMorgan Chase & Co. during the 4th quarter worth approximately $3,894,646,000. Price T Rowe Associates Inc. MD lifted its position in shares of JPMorgan Chase & Co. by 71.0% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 30,484,094 shares of the financial services provider’s stock worth $4,087,917,000 after buying an additional 12,654,947 shares during the period. Morgan Stanley lifted its position in shares of JPMorgan Chase & Co. by 15.9% during the 4th quarter. Morgan Stanley now owns 59,049,256 shares of the financial services provider’s stock worth $7,918,506,000 after buying an additional 8,088,433 shares during the period. Finally, Ontario Teachers Pension Plan Board bought a new position in shares of JPMorgan Chase & Co. during the 4th quarter worth approximately $556,791,000. Institutional investors own 70.10% of the company’s stock.
JPMorgan Chase & Co. Trading Up 0.2 %
NYSE JPM opened at $139.18 on Tuesday. The stock has a 50-day simple moving average of $138.70 and a 200 day simple moving average of $136.58. The company has a market capitalization of $406.72 billion, a PE ratio of 10.27, a P/E/G ratio of 1.92 and a beta of 1.10. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 1.07. JPMorgan Chase & Co. has a 12 month low of $101.28 and a 12 month high of $144.34.
JPMorgan Chase & Co. Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Monday, July 31st. Shareholders of record on Thursday, July 6th will be issued a $1.00 dividend. The ex-dividend date of this dividend is Wednesday, July 5th. This represents a $4.00 annualized dividend and a dividend yield of 2.87%. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is currently 29.52%.
Analysts Set New Price Targets
A number of research firms have commented on JPM. Oppenheimer boosted their price objective on JPMorgan Chase & Co. from $157.00 to $192.00 and gave the stock an “outperformer” rating in a research note on Monday, April 17th. Keefe, Bruyette & Woods boosted their price objective on JPMorgan Chase & Co. from $131.00 to $155.00 and gave the stock a “market perform” rating in a research note on Monday, April 17th. Piper Sandler boosted their price objective on JPMorgan Chase & Co. from $147.00 to $151.00 and gave the stock an “overweight” rating in a research note on Monday, April 17th. Evercore ISI reduced their price objective on JPMorgan Chase & Co. from $155.00 to $151.00 in a research note on Friday, May 12th. Finally, Royal Bank of Canada reduced their price objective on JPMorgan Chase & Co. from $150.00 to $132.00 and set an “outperform” rating on the stock in a research note on Friday, March 24th. Six equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $157.35.
Insiders Place Their Bets
In other JPMorgan Chase & Co. news, insider Ashley Bacon sold 16,766 shares of the stock in a transaction dated Monday, May 15th. The stock was sold at an average price of $135.00, for a total value of $2,263,410.00. Following the completion of the sale, the insider now directly owns 195,356 shares in the company, valued at $26,373,060. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CEO Daniel E. Pinto sold 113,640 shares of the company’s stock in a transaction dated Thursday, May 11th. The stock was sold at an average price of $135.93, for a total transaction of $15,447,085.20. Following the completion of the transaction, the chief executive officer now directly owns 566,665 shares of the company’s stock, valued at $77,026,773.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Ashley Bacon sold 16,766 shares of the company’s stock in a transaction dated Monday, May 15th. The stock was sold at an average price of $135.00, for a total value of $2,263,410.00. Following the transaction, the insider now directly owns 195,356 shares of the company’s stock, valued at $26,373,060. The disclosure for this sale can be found here. Insiders sold 145,861 shares of company stock worth $19,858,275 over the last ninety days. 0.79% of the stock is currently owned by corporate insiders.
JPMorgan Chase & Co. Profile
JPMorgan Chase & Co operates as a financial services company worldwide. It operates through four segments: Consumer & Community Banking (CCB), Corporate & Investment Bank (CIB), Commercial Banking (CB), and Asset & Wealth Management (AWM). The CCB segment offers deposit, investment and lending products, cash management, and payments and services to consumers and small businesses; mortgage origination and servicing activities; residential mortgages and home equity loans; and credit cards, auto loans, leases, and travel services.
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