Nippon Life Global Investors Americas Inc. Lowers Stock Holdings in JPMorgan Chase & Co. (NYSE:JPM)

Nippon Life Global Investors Americas Inc. trimmed its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 11.7% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 161,190 shares of the financial services provider’s stock after selling 21,370 shares during the period. JPMorgan Chase & Co. accounts for approximately 1.8% of Nippon Life Global Investors Americas Inc.’s holdings, making the stock its 17th largest holding. Nippon Life Global Investors Americas Inc.’s holdings in JPMorgan Chase & Co. were worth $38,639,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently added to or reduced their stakes in the company. Redwood Park Advisors LLC acquired a new position in shares of JPMorgan Chase & Co. during the 4th quarter worth about $29,000. Sellwood Investment Partners LLC purchased a new position in shares of JPMorgan Chase & Co. in the fourth quarter valued at approximately $34,000. Investment Counsel Co. of Nevada acquired a new stake in shares of JPMorgan Chase & Co. in the fourth quarter worth approximately $37,000. Prudent Man Investment Management Inc. purchased a new stake in shares of JPMorgan Chase & Co. during the fourth quarter worth approximately $43,000. Finally, Midwest Capital Advisors LLC purchased a new position in JPMorgan Chase & Co. in the 4th quarter valued at $43,000. Institutional investors and hedge funds own 71.55% of the company’s stock.

JPMorgan Chase & Co. Stock Performance

Shares of JPMorgan Chase & Co. stock opened at $228.95 on Tuesday. The stock has a market capitalization of $637.17 billion, a price-to-earnings ratio of 11.60, a price-to-earnings-growth ratio of 2.83 and a beta of 1.01. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.88 and a quick ratio of 0.89. The business has a 50-day moving average of $243.79 and a 200 day moving average of $243.22. JPMorgan Chase & Co. has a 12 month low of $185.98 and a 12 month high of $280.25.

JPMorgan Chase & Co. (NYSE:JPM) last announced its earnings results on Friday, April 11th. The financial services provider reported $5.07 earnings per share for the quarter, topping the consensus estimate of $4.63 by $0.44. JPMorgan Chase & Co. had a net margin of 20.96% and a return on equity of 16.99%. The firm had revenue of $45.30 billion for the quarter, compared to the consensus estimate of $43.62 billion. During the same period in the prior year, the firm earned $4.44 EPS. The firm’s revenue for the quarter was up 8.0% on a year-over-year basis. As a group, sell-side analysts forecast that JPMorgan Chase & Co. will post 18.1 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 Wednesday, April 30th. Shareholders of record on Friday, April 4th will be issued a dividend of $1.40 per share. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.25. The ex-dividend date is Friday, April 4th. This represents a $5.60 annualized dividend and a yield of 2.45%. JPMorgan Chase & Co.’s dividend payout ratio is 27.49%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on JPM shares. Truist Financial set a $261.00 target price on shares of JPMorgan Chase & Co. in a research report on Monday, April 14th. Robert W. Baird upgraded JPMorgan Chase & Co. from an “underperform” rating to a “neutral” rating and boosted their target price for the stock from $215.00 to $220.00 in a report on Friday, March 7th. Bank of America cut their price target on JPMorgan Chase & Co. from $285.00 to $284.00 and set a “buy” rating for the company in a report on Wednesday, April 2nd. Baird R W raised JPMorgan Chase & Co. from a “strong sell” rating to a “hold” rating in a research note on Friday, March 7th. Finally, Evercore ISI dropped their price objective 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. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $255.67.

Insider Activity

In related news, CEO Troy L. Rohrbaugh sold 37,500 shares of JPMorgan Chase & Co. stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $269.84, 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 $42,737,529.04. The trade was a 19.14 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Jennifer Piepszak sold 4,273 shares of the firm’s stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $269.85, for a total transaction of $1,153,069.05. Following the completion of the sale, the chief operating officer now owns 54,469 shares in the company, valued at $14,698,459.65. The trade was a 7.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 73,545 shares of company stock worth $19,149,144. 0.79% of the stock is currently owned by company insiders.

JPMorgan Chase & Co. Company 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.