Highland Capital Management LLC Trims Stake in JPMorgan Chase & Co. (NYSE:JPM)

Highland Capital Management LLC cut its position in shares of JPMorgan Chase & Co. (NYSE:JPM) by 2.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 195,484 shares of the financial services provider’s stock after selling 4,380 shares during the quarter. JPMorgan Chase & Co. makes up about 2.1% of Highland Capital Management LLC’s investment portfolio, making the stock its 4th largest position. Highland Capital Management LLC’s holdings in JPMorgan Chase & Co. were worth $33,252,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of JPM. Moneta Group Investment Advisors LLC increased its position in shares of JPMorgan Chase & Co. by 105,652.2% during the 4th 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 during the last quarter. Norges Bank bought a new position in shares of JPMorgan Chase & Co. during the 4th quarter valued at about $3,894,646,000. Morgan Stanley increased its position in shares of JPMorgan Chase & Co. by 15.9% during the 4th quarter. Morgan Stanley now owns 59,049,256 shares of the financial services provider’s stock valued at $7,918,506,000 after purchasing an additional 8,088,433 shares during the last quarter. Wellington Management Group LLP boosted its holdings in JPMorgan Chase & Co. by 12.2% during the 3rd quarter. Wellington Management Group LLP now owns 42,421,711 shares of the financial services provider’s stock valued at $6,151,997,000 after acquiring an additional 4,603,090 shares during the period. Finally, Barclays PLC boosted its holdings in JPMorgan Chase & Co. by 51.6% during the 2nd quarter. Barclays PLC now owns 8,422,975 shares of the financial services provider’s stock valued at $1,225,037,000 after acquiring an additional 2,868,091 shares during the period. 71.55% of the stock is currently owned by institutional investors.

Insider Transactions at JPMorgan Chase & Co.

In other news, insider Lori A. Beer sold 3,920 shares of the firm’s stock in a transaction on Monday, March 25th. The stock was sold at an average price of $195.36, for a total value of $765,811.20. Following the transaction, the insider now directly owns 64,783 shares in the company, valued at approximately $12,656,006.88. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other news, insider Lori A. Beer sold 3,920 shares of the firm’s stock in a transaction on Monday, March 25th. The stock was sold at an average price of $195.36, for a total value of $765,811.20. Following the transaction, the insider now directly owns 64,783 shares in the company, valued at approximately $12,656,006.88. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, General Counsel Stacey Friedman sold 6,030 shares of JPMorgan Chase & Co. stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $182.73, for a total value of $1,101,861.90. Following the transaction, the general counsel now owns 59,456 shares in the company, valued at $10,864,394.88. The disclosure for this sale can be found here. Insiders have sold a total of 849,303 shares of company stock worth $155,107,447 in the last ninety days. Insiders own 0.79% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. Piper Sandler increased their target price on JPMorgan Chase & Co. from $190.00 to $200.00 and gave the company an “overweight” rating in a report on Tuesday, January 16th. Bank of America increased their target price on JPMorgan Chase & Co. from $177.00 to $188.00 and gave the company a “buy” rating in a report on Thursday, January 4th. BMO Capital Markets increased their target price on JPMorgan Chase & Co. from $192.00 to $194.00 and gave the company a “market perform” rating in a report on Tuesday, January 16th. The Goldman Sachs Group reiterated a “buy” rating on shares of JPMorgan Chase & Co. in a report on Thursday, February 1st. Finally, Deutsche Bank Aktiengesellschaft upgraded JPMorgan Chase & Co. from a “hold” rating to a “buy” rating and increased their price objective for the stock from $140.00 to $190.00 in a report on Tuesday, January 9th. Eight research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat, JPMorgan Chase & Co. presently has a consensus rating of “Moderate Buy” and an average price target of $181.63.

JPMorgan Chase & Co. Stock Up 0.4 %

JPMorgan Chase & Co. stock opened at $200.29 on Friday. The firm has a market cap of $576.91 billion, a price-to-earnings ratio of 12.35, a PEG ratio of 2.49 and a beta of 1.14. The stock has a fifty day simple moving average of $182.22 and a two-hundred day simple moving average of $163.62. JPMorgan Chase & Co. has a 12 month low of $126.22 and a 12 month high of $200.72. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 1.30.

JPMorgan Chase & Co. (NYSE:JPM) last posted its 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). The business had revenue of $38.57 billion during the quarter, compared to the consensus estimate of $39.73 billion. JPMorgan Chase & Co. had a return on equity of 17.80% and a net margin of 20.70%. The firm’s revenue for the quarter was up 11.7% on a year-over-year basis. During the same period in the previous year, the business posted $3.57 EPS. Equities analysts predict that JPMorgan Chase & Co. will post 15.75 EPS for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Friday, April 5th will be issued a $1.15 dividend. This is a positive change from JPMorgan Chase & Co.’s previous quarterly dividend of $1.05. The ex-dividend date is Thursday, April 4th. This represents a $4.60 dividend on an annualized basis and a dividend yield of 2.30%. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is presently 25.89%.

JPMorgan Chase & Co. Company Profile

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.