Arvest Trust Co. N A decreased its position in shares of JPMorgan Chase & Co. (NYSE:JPM) by 2.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 151,558 shares of the financial services provider’s stock after selling 3,711 shares during the period. JPMorgan Chase & Co. comprises 1.6% of Arvest Trust Co. N A’s portfolio, making the stock its 13th biggest position. Arvest Trust Co. N A’s holdings in JPMorgan Chase & Co. were worth $25,780,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also modified their holdings of JPM. Moneta Group Investment Advisors LLC increased its holdings in shares of JPMorgan Chase & Co. by 105,652.2% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 98,000,567 shares of the financial services provider’s stock valued at $13,141,876,000 after purchasing an additional 97,907,897 shares in the last quarter. Norges Bank bought a new position in shares of JPMorgan Chase & Co. during the fourth quarter worth $3,894,646,000. Morgan Stanley boosted its position in shares of JPMorgan Chase & Co. by 15.9% during the fourth quarter. Morgan Stanley now owns 59,049,256 shares of the financial services provider’s stock worth $7,918,506,000 after purchasing an additional 8,088,433 shares in the last quarter. International Assets Investment Management LLC bought a new position in shares of JPMorgan Chase & Co. during the fourth quarter worth $1,017,893,000. Finally, Wellington Management Group LLP boosted its position in shares of JPMorgan Chase & Co. by 12.2% during the third quarter. Wellington Management Group LLP now owns 42,421,711 shares of the financial services provider’s stock worth $6,151,997,000 after purchasing an additional 4,603,090 shares in the last quarter. Institutional investors and hedge funds own 71.55% of the company’s stock.
JPMorgan Chase & Co. Stock Down 0.9 %
Shares of JPM opened at $195.47 on Thursday. JPMorgan Chase & Co. has a 52 week low of $126.83 and a 52 week high of $200.94. The firm has a market cap of $563.03 billion, a P/E ratio of 12.05, a price-to-earnings-growth ratio of 2.51 and a beta of 1.15. The firm’s 50-day simple moving average is $187.52 and its 200 day simple moving average is $167.16. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.91 and a current ratio of 0.91.
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JPMorgan Chase & Co. (NYSE:JPM – Get Free Report) last announced its quarterly earnings results on Friday, January 12th. The financial services provider reported $3.04 EPS for the quarter, missing analysts’ consensus estimates of $3.73 by ($0.69). JPMorgan Chase & Co. had a net margin of 20.70% and a return on equity of 17.80%. The company had revenue of $38.57 billion during the quarter, compared to analyst estimates of $39.73 billion. During the same quarter last year, the company posted $3.57 EPS. The firm’s quarterly revenue was up 11.7% on a year-over-year basis. On average, analysts forecast that JPMorgan Chase & Co. will post 15.8 earnings per share for the current year.
JPMorgan Chase & Co. Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Friday, April 5th will be paid a $1.15 dividend. The ex-dividend date of this dividend is Thursday, April 4th. This represents a $4.60 dividend on an annualized basis and a yield of 2.35%. This is a positive change from JPMorgan Chase & Co.’s previous quarterly dividend of $1.05. JPMorgan Chase & Co.’s dividend payout ratio is 28.36%.
Wall Street Analysts Forecast Growth
Several equities research analysts recently commented on the stock. The Goldman Sachs Group reaffirmed a “buy” rating on shares of JPMorgan Chase & Co. in a research report on Thursday, February 1st. Keefe, Bruyette & Woods boosted their price objective on shares of JPMorgan Chase & Co. from $182.00 to $195.00 and gave the company a “market perform” rating in a research report on Friday, April 5th. Jefferies Financial Group boosted their price objective on shares of JPMorgan Chase & Co. from $202.00 to $228.00 and gave the company a “buy” rating in a research report on Monday. Evercore ISI lifted their price target on shares of JPMorgan Chase & Co. from $188.00 to $210.00 and gave the company an “outperform” rating in a research note on Thursday, April 4th. Finally, Piper Sandler lifted their price target on shares of JPMorgan Chase & Co. from $190.00 to $200.00 and gave the company an “overweight” rating in a research note on Tuesday, January 16th. Eight investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, JPMorgan Chase & Co. has an average rating of “Moderate Buy” and a consensus target price of $189.11.
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Insider Activity at JPMorgan Chase & Co.
In related news, CEO Jennifer Piepszak sold 1,649 shares of the company’s stock in a transaction dated Tuesday, January 16th. The shares were sold at an average price of $166.59, for a total value of $274,706.91. Following the transaction, the chief executive officer now owns 34,467 shares in the company, valued at approximately $5,741,857.53. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In other JPMorgan Chase & Co. news, CEO Jennifer Piepszak sold 1,649 shares of the business’s stock in a transaction dated Tuesday, January 16th. The shares were sold at an average price of $166.59, for a total value of $274,706.91. Following the completion of the sale, the chief executive officer now owns 34,467 shares of the company’s stock, valued at approximately $5,741,857.53. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Lori A. Beer sold 3,920 shares of the business’s stock in a transaction dated Monday, March 25th. The shares were sold at an average price of $195.36, for a total transaction of $765,811.20. Following the completion of the sale, the insider now directly owns 64,783 shares of the company’s stock, valued at approximately $12,656,006.88. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 849,303 shares of company stock worth $155,107,447. Insiders own 0.79% of the company’s stock.
About JPMorgan Chase & Co.
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; mortgage origination and servicing activities; residential mortgages and home equity loans; and credit cards, auto loans, leases, and travel services to consumers and small businesses through bank branches, ATMs, and digital and telephone banking.
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