Holderness Investments Co. Boosts Holdings in JPMorgan Chase & Co. (NYSE:JPM)

Holderness Investments Co. grew its stake in JPMorgan Chase & Co. (NYSE:JPM) by 1.5% during the 4th quarter, Holdings Channel reports. The firm owned 27,903 shares of the financial services provider’s stock after purchasing an additional 411 shares during the quarter. JPMorgan Chase & Co. makes up approximately 1.5% of Holderness Investments Co.’s investment portfolio, making the stock its 11th largest position. Holderness Investments Co.’s holdings in JPMorgan Chase & Co. were worth $6,689,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. Geode Capital Management LLC raised its holdings in shares of JPMorgan Chase & Co. by 0.9% during the third quarter. Geode Capital Management LLC now owns 58,344,186 shares of the financial services provider’s stock valued at $12,258,346,000 after acquiring an additional 505,830 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of JPMorgan Chase & Co. by 0.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 20,103,063 shares of the financial services provider’s stock worth $4,818,905,000 after purchasing an additional 71,122 shares in the last quarter. Fisher Asset Management LLC raised its stake in JPMorgan Chase & Co. by 3.7% in the 4th quarter. Fisher Asset Management LLC now owns 17,401,436 shares of the financial services provider’s stock valued at $4,171,298,000 after purchasing an additional 617,164 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in JPMorgan Chase & Co. by 2.0% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 15,084,919 shares of the financial services provider’s stock valued at $3,180,806,000 after purchasing an additional 302,592 shares in the last quarter. Finally, Franklin Resources Inc. boosted its stake in JPMorgan Chase & Co. by 7.2% during the 3rd quarter. Franklin Resources Inc. now owns 15,073,193 shares of the financial services provider’s stock worth $3,338,955,000 after purchasing an additional 1,016,289 shares during the last quarter. Hedge funds and other institutional investors own 71.55% of the company’s stock.

JPMorgan Chase & Co. Stock Down 1.1 %

JPMorgan Chase & Co. stock opened at $248.35 on Friday. The company has a market capitalization of $694.41 billion, a PE ratio of 12.58, a price-to-earnings-growth ratio of 2.83 and a beta of 1.10. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.89 and a current ratio of 0.88. JPMorgan Chase & Co. has a fifty-two week low of $179.20 and a fifty-two week high of $280.25. The firm has a 50 day moving average price of $257.88 and a 200 day moving average price of $240.12.

JPMorgan Chase & Co. (NYSE:JPM) last issued its quarterly earnings data on Wednesday, January 15th. The financial services provider reported $4.81 earnings per share for the quarter, beating analysts’ consensus estimates of $4.03 by $0.78. JPMorgan Chase & Co. had a return on equity of 16.99% and a net margin of 20.96%. The business had revenue of $42.77 billion during the quarter, compared to analysts’ expectations of $41.90 billion. During the same period in the previous year, the firm posted $3.04 earnings per share. The company’s revenue was up 10.9% on a year-over-year basis. Research analysts expect that JPMorgan Chase & Co. will post 18.1 earnings per share for the current year.

JPMorgan Chase & Co. Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Friday, April 4th will be paid a dividend of $1.40 per share. The ex-dividend date is Friday, April 4th. This is a positive change from JPMorgan Chase & Co.’s previous quarterly dividend of $1.25. This represents a $5.60 dividend on an annualized basis and a yield of 2.25%. JPMorgan Chase & Co.’s dividend payout ratio is 28.37%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the stock. Bank of America increased their target price on shares of JPMorgan Chase & Co. from $260.00 to $280.00 and gave the company a “buy” rating in a research report on Tuesday, January 7th. Robert W. Baird raised shares of JPMorgan Chase & Co. from an “underperform” rating to a “neutral” rating and raised their target price for the stock from $215.00 to $220.00 in a research note on Friday, March 7th. Baird R W upgraded JPMorgan Chase & Co. from a “strong sell” rating to a “hold” rating in a research report on Friday, March 7th. Piper Sandler lifted their price objective on JPMorgan Chase & Co. from $240.00 to $275.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 3rd. Finally, Keefe, Bruyette & Woods boosted their price objective on JPMorgan Chase & Co. from $257.00 to $264.00 and gave the stock a “market perform” rating in a research note on Thursday, January 16th. Ten equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $252.89.

Insider Transactions at JPMorgan Chase & Co.

In other JPMorgan Chase & Co. news, COO Jennifer Piepszak sold 4,273 shares of the stock in a transaction that occurred on 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 sale, the chief operating officer now directly owns 54,469 shares in the company, valued at $14,698,459.65. This represents a 7.27 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Robin Leopold sold 1,250 shares of the business’s stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $270.09, for a total transaction of $337,612.50. Following the completion of the transaction, the insider now owns 50,377 shares of the company’s stock, valued at approximately $13,606,323.93. This trade represents a 2.42 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 76,848 shares of company stock valued at $19,987,908. 0.79% of the stock is currently owned by corporate insiders.

JPMorgan Chase & Co. Profile

JPMorgan Chase & Co is a financial holding company, which engages in the provision of 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.