Payden & Rygel Sells 36,400 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Payden & Rygel lessened its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 19.8% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 147,650 shares of the financial services provider’s stock after selling 36,400 shares during the period. JPMorgan Chase & Co. makes up 3.0% of Payden & Rygel’s portfolio, making the stock its 2nd biggest position. Payden & Rygel’s holdings in JPMorgan Chase & Co. were worth $35,393,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Norges Bank bought a new position in shares of JPMorgan Chase & Co. during the 4th quarter worth approximately $8,310,884,000. Proficio Capital Partners LLC lifted its holdings in shares of JPMorgan Chase & Co. by 34,259.3% during the fourth quarter. Proficio Capital Partners LLC now owns 3,499,499 shares of the financial services provider’s stock valued at $838,865,000 after acquiring an additional 3,489,314 shares during the period. KLP Kapitalforvaltning AS acquired a new stake in shares of JPMorgan Chase & Co. in the 4th quarter valued at $259,038,000. Franklin Resources Inc. grew its holdings in shares of JPMorgan Chase & Co. by 7.2% in 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. Finally, Axiom Investors LLC DE acquired a new stake in shares of JPMorgan Chase & Co. during the 4th quarter worth about $222,998,000. Institutional investors own 71.55% of the company’s stock.

JPMorgan Chase & Co. Stock Down 8.1 %

Shares of NYSE JPM opened at $210.09 on Monday. JPMorgan Chase & Co. has a 52-week low of $179.20 and a 52-week high of $280.25. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.89 and a current ratio of 0.88. The stock has a market cap of $587.43 billion, a P/E ratio of 10.64, a P/E/G ratio of 2.83 and a beta of 1.01. The firm has a 50 day moving average price of $254.71 and a 200 day moving average price of $241.75.

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

JPMorgan Chase & Co. Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Friday, April 4th will be paid a $1.40 dividend. This represents a $5.60 dividend on an annualized basis and a yield of 2.67%. This is a boost from JPMorgan Chase & Co.’s previous quarterly dividend of $1.25. The ex-dividend date of this dividend is Friday, April 4th. JPMorgan Chase & Co.’s payout ratio is presently 28.37%.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Bank of America decreased their price objective on shares of JPMorgan Chase & Co. from $285.00 to $284.00 and set a “buy” rating on the stock in a research note on Wednesday, April 2nd. Truist Financial decreased their price target on JPMorgan Chase & Co. from $268.00 to $264.00 and set a “hold” rating on the stock in a research report on Friday. UBS Group lifted their price objective on JPMorgan Chase & Co. from $276.00 to $287.00 and gave the company a “buy” rating in a research report on Thursday, January 16th. Robert W. Baird upgraded JPMorgan Chase & Co. from an “underperform” rating to a “neutral” rating and increased their target price for the stock from $215.00 to $220.00 in a report on Friday, March 7th. Finally, Evercore ISI cut their price target on JPMorgan Chase & Co. from $273.00 to $265.00 and set an “outperform” rating for the company in a report on Tuesday, April 1st. Ten investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, JPMorgan Chase & Co. has a consensus rating of “Moderate Buy” and an average target price of $254.83.

Insiders Place Their Bets

In related news, insider Robin Leopold sold 1,250 shares of the business’s stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $270.09, for a total value of $337,612.50. Following the sale, the insider now directly owns 50,377 shares of the company’s stock, valued at approximately $13,606,323.93. The trade was a 2.42 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, COO Jennifer Piepszak sold 4,273 shares of the stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $269.85, for a total value of $1,153,069.05. Following the transaction, the chief operating officer now owns 54,469 shares of the company’s stock, valued at approximately $14,698,459.65. This trade represents a 7.27 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 76,848 shares of company stock worth $19,987,908 over the last ninety days. 0.79% of the stock is currently owned by corporate insiders.

About JPMorgan Chase & Co.

JPMorgan Chase & Co is a financial holding company, which engages in the provision of financial and investment banking services. It focuses on investment banking, financial services for consumers and small businesses, commercial banking, financial transaction processing, and asset management. It operates through the following segments: Consumer and Community Banking (CCB), Commercial and Investment Bank (CIB), Asset and Wealth Management (AWM), and Corporate.