Envestnet Asset Management Inc. Has $1.70 Billion Stock Position in JPMorgan Chase & Co. (NYSE:JPM)

Envestnet Asset Management Inc. boosted its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 1.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,083,363 shares of the financial services provider’s stock after purchasing an additional 67,065 shares during the quarter. Envestnet Asset Management Inc.’s holdings in JPMorgan Chase & Co. were worth $1,697,953,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the stock. Norges Bank bought a new position in shares of JPMorgan Chase & Co. during the 4th quarter worth about $8,310,884,000. Proficio Capital Partners LLC raised its position in JPMorgan Chase & Co. by 34,259.3% in the fourth quarter. Proficio Capital Partners LLC now owns 3,499,499 shares of the financial services provider’s stock worth $838,865,000 after purchasing an additional 3,489,314 shares in the last quarter. KLP Kapitalforvaltning AS bought a new position in JPMorgan Chase & Co. during the fourth quarter worth about $259,038,000. Franklin Resources Inc. boosted its holdings in JPMorgan Chase & Co. by 7.2% during the third quarter. Franklin Resources Inc. now owns 15,073,193 shares of the financial services provider’s stock valued at $3,338,955,000 after purchasing an additional 1,016,289 shares in the last quarter. Finally, Axiom Investors LLC DE bought a new stake in shares of JPMorgan Chase & Co. in the 4th quarter valued at approximately $222,998,000. 71.55% of the stock is owned by institutional investors.

JPMorgan Chase & Co. Stock Performance

NYSE:JPM opened at $210.09 on Monday. JPMorgan Chase & Co. has a twelve month low of $179.20 and a twelve month high of $280.25. 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 firm has a market capitalization 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 company has a fifty day moving average of $254.71 and a 200-day moving average of $241.75.

JPMorgan Chase & Co. (NYSE:JPM) last released its quarterly earnings data on Wednesday, January 15th. The financial services provider reported $4.81 EPS for the quarter, beating the consensus estimate 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 firm had revenue of $42.77 billion during the quarter, compared to the consensus estimate of $41.90 billion. During the same quarter in the previous year, the company posted $3.04 earnings per share. The company’s quarterly revenue was up 10.9% on a year-over-year basis. As a group, sell-side analysts anticipate 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. Stockholders of record on Friday, April 4th will be given a dividend of $1.40 per share. The ex-dividend date is Friday, April 4th. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.25. This represents a $5.60 annualized dividend and a dividend yield of 2.67%. JPMorgan Chase & Co.’s payout ratio is presently 28.37%.

Wall Street Analyst Weigh In

Several brokerages recently commented on JPM. UBS Group boosted their price target on JPMorgan Chase & Co. from $276.00 to $287.00 and gave the company a “buy” rating in a research note on Thursday, January 16th. Bank of America lowered their target price on shares of JPMorgan Chase & Co. from $285.00 to $284.00 and set a “buy” rating on the stock in a report on Wednesday, April 2nd. Evercore ISI cut their price target on shares of JPMorgan Chase & Co. from $273.00 to $265.00 and set an “outperform” rating for the company in a report on Tuesday, April 1st. Baird R W upgraded shares of JPMorgan Chase & Co. from a “strong sell” rating to a “hold” rating in a research report on Friday, March 7th. Finally, Wolfe Research raised shares of JPMorgan Chase & Co. from a “peer perform” rating to an “outperform” rating and set a $269.00 price objective for the company in a report on Friday, January 3rd. Ten analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat, JPMorgan Chase & Co. has a consensus rating of “Moderate Buy” and an average price target of $254.83.

Insider Buying and Selling

In other JPMorgan Chase & Co. news, insider Robin Leopold sold 1,250 shares of the firm’s stock in a transaction on Monday, March 24th. The stock was sold at an average price of $246.92, for a total transaction of $308,650.00. Following the transaction, the insider now directly owns 49,127 shares in the company, valued at approximately $12,130,438.84. This trade represents a 2.48 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Troy L. Rohrbaugh sold 37,500 shares of the stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $269.84, for a total transaction of $10,119,000.00. Following the completion of the sale, the chief executive officer now owns 158,381 shares of the company’s stock, valued at approximately $42,737,529.04. This represents a 19.14 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 76,848 shares of company stock worth $19,987,908 in the last quarter. Insiders own 0.79% of the company’s stock.

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.