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

Prudential PLC cut its stake in JPMorgan Chase & Co. (NYSE:JPM) by 19.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). 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. makes up approximately 0.3% of Prudential PLC’s investment portfolio, making the stock its 27th biggest position. Prudential PLC’s holdings in JPMorgan Chase & Co. were worth $52,021,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Sellwood Investment Partners LLC acquired a new stake in JPMorgan Chase & Co. in the 4th quarter valued at about $34,000. Midwest Capital Advisors LLC acquired a new stake in JPMorgan Chase & Co. during the fourth quarter valued at approximately $43,000. Prudent Man Investment Management Inc. acquired a new stake in JPMorgan Chase & Co. during the fourth quarter valued at approximately $43,000. Legacy Investment Solutions LLC bought a new stake in JPMorgan Chase & Co. during the third quarter worth approximately $45,000. Finally, Collier Financial acquired a new position in JPMorgan Chase & Co. in the fourth quarter worth approximately $45,000. Institutional investors and hedge funds own 71.55% of the company’s stock.

Analyst Ratings Changes

JPM has been the subject of several research reports. Wolfe Research raised JPMorgan Chase & Co. from a “peer perform” rating to an “outperform” rating and set a $269.00 price objective for the company in a research note on Friday, January 3rd. Baird R W raised JPMorgan Chase & Co. from a “strong sell” rating to a “hold” rating in a research note on Friday, March 7th. Evercore ISI cut their price objective on JPMorgan Chase & Co. from $273.00 to $265.00 and set an “outperform” rating on the stock in a report on Tuesday, April 1st. Bank of America decreased their price objective on shares of JPMorgan Chase & Co. from $285.00 to $284.00 and set a “buy” rating for the company in a research note on Wednesday. Finally, Truist Financial reduced their target price on JPMorgan Chase & Co. from $268.00 to $264.00 and set a “hold” rating for the company in a report on Friday. Ten equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $254.83.

JPMorgan Chase & Co. Price Performance

Shares of JPM opened at $210.09 on Friday. 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 firm has a market cap of $587.43 billion, a PE ratio of 10.64, a PEG ratio of 2.83 and a beta of 1.01. The firm’s 50 day moving average price is $254.71 and its 200 day moving average price is $241.51. JPMorgan Chase & Co. has a twelve month low of $179.20 and a twelve month high of $280.25.

JPMorgan Chase & Co. (NYSE:JPM) last announced its quarterly earnings results on Wednesday, January 15th. The financial services provider reported $4.81 EPS for the quarter, topping the consensus estimate 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 analyst estimates of $41.90 billion. During the same quarter in the prior year, the business posted $3.04 EPS. JPMorgan Chase & Co.’s quarterly revenue was up 10.9% on a year-over-year basis. As a group, research analysts expect that JPMorgan Chase & Co. will post 18.1 EPS for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

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

Insiders Place Their Bets

In related news, COO Jennifer Piepszak sold 4,273 shares of the firm’s stock in a transaction that occurred on 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 directly 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Troy L. Rohrbaugh sold 37,500 shares of the company’s stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $269.84, for a total value of $10,119,000.00. Following the sale, the chief executive officer now directly owns 158,381 shares of the company’s stock, valued at $42,737,529.04. The trade was a 19.14 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 76,848 shares of company stock valued at $19,987,908 over the last quarter. Insiders own 0.79% of the company’s stock.

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.