JPMorgan Chase & Co. (NYSE:JPM) Shares Sold by Prudential PLC

Prudential PLC trimmed its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 19.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 217,018 shares of the financial services provider’s stock after selling 53,502 shares during the period. JPMorgan Chase & Co. comprises 0.3% of Prudential PLC’s investment portfolio, making the stock its 27th largest position. Prudential PLC’s holdings in JPMorgan Chase & Co. were worth $52,021,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Principal Financial Group Inc. raised its holdings in shares of JPMorgan Chase & Co. by 3.2% during the 3rd quarter. Principal Financial Group Inc. now owns 5,824,289 shares of the financial services provider’s stock valued at $1,228,110,000 after buying an additional 182,648 shares during the period. United Bank grew its position in JPMorgan Chase & Co. by 2.5% in the third quarter. United Bank now owns 25,354 shares of the financial services provider’s stock valued at $5,346,000 after acquiring an additional 614 shares in the last quarter. Redwood Investment Management LLC grew its position in JPMorgan Chase & Co. by 104.7% in the third quarter. Redwood Investment Management LLC now owns 3,969 shares of the financial services provider’s stock valued at $837,000 after acquiring an additional 2,030 shares in the last quarter. Weiss Asset Management LP purchased a new stake in shares of JPMorgan Chase & Co. during the third quarter valued at approximately $4,210,000. Finally, EP Wealth Advisors LLC lifted its position in shares of JPMorgan Chase & Co. by 6.9% during the third quarter. EP Wealth Advisors LLC now owns 694,179 shares of the financial services provider’s stock worth $146,375,000 after purchasing an additional 44,701 shares in the last quarter. 71.55% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other JPMorgan Chase & Co. news, CEO Troy L. Rohrbaugh sold 37,500 shares of the company’s stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $269.84, for a total value of $10,119,000.00. Following the completion of the transaction, the chief executive officer now owns 158,381 shares in the company, valued at approximately $42,737,529.04. This represents a 19.14 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Jennifer Piepszak sold 4,273 shares of JPMorgan Chase & Co. stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $269.85, for a total value of $1,153,069.05. Following the sale, the chief operating officer now directly owns 54,469 shares in the company, 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 have sold a total of 76,848 shares of company stock valued at $19,987,908 in the last quarter. Company insiders own 0.79% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently issued reports on JPM. Keefe, Bruyette & Woods lifted their price target on shares of 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. Truist Financial dropped their target price on JPMorgan Chase & Co. from $268.00 to $264.00 and set a “hold” rating on the stock in a research report on Friday. Baird R W raised JPMorgan Chase & Co. from a “strong sell” rating to a “hold” rating in a report on Friday, March 7th. Bank of America dropped their price objective on JPMorgan Chase & Co. from $285.00 to $284.00 and set a “buy” rating on the stock in a report on Wednesday. Finally, Evercore ISI reduced their target price on JPMorgan Chase & Co. from $273.00 to $265.00 and set an “outperform” rating for the company in a research note on Tuesday, April 1st. Ten research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $254.83.

JPMorgan Chase & Co. Price Performance

JPM opened at $210.09 on Friday. The company has a quick ratio of 0.89, a current ratio of 0.88 and a debt-to-equity ratio of 1.24. The company’s 50-day moving average price is $254.71 and its 200 day moving average price is $241.51. 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 market cap of $587.43 billion, a price-to-earnings ratio of 10.64, a price-to-earnings-growth ratio of 2.83 and a beta of 1.01.

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

JPMorgan Chase & Co. Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Friday, April 4th will be given a dividend of $1.40 per share. The ex-dividend date of this dividend is Friday, April 4th. This represents a $5.60 annualized dividend and a dividend yield of 2.67%. This is a positive change from JPMorgan Chase & Co.’s previous quarterly dividend of $1.25. JPMorgan Chase & Co.’s dividend payout ratio is currently 28.37%.

JPMorgan Chase & Co. Profile

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.