Rockefeller Capital Management L.P. Grows Stock Position in JPMorgan Chase & Co. (NYSE:JPM)

Rockefeller Capital Management L.P. increased its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 9.9% in the 4th quarter, HoldingsChannel reports. The fund owned 1,888,376 shares of the financial services provider’s stock after purchasing an additional 170,145 shares during the quarter. JPMorgan Chase & Co. makes up approximately 1.2% of Rockefeller Capital Management L.P.’s holdings, making the stock its 11th biggest holding. Rockefeller Capital Management L.P.’s holdings in JPMorgan Chase & Co. were worth $452,465,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Petros Family Wealth LLC acquired a new stake in JPMorgan Chase & Co. in the 4th quarter valued at approximately $1,313,000. NFP Retirement Inc. boosted its position in shares of JPMorgan Chase & Co. by 6.0% during the fourth quarter. NFP Retirement Inc. now owns 4,067 shares of the financial services provider’s stock worth $975,000 after buying an additional 230 shares during the period. Concorde Asset Management LLC grew its stake in shares of JPMorgan Chase & Co. by 2.0% in the fourth quarter. Concorde Asset Management LLC now owns 3,222 shares of the financial services provider’s stock valued at $772,000 after buying an additional 63 shares in the last quarter. Hobbs Wealth Management LLC acquired a new stake in shares of JPMorgan Chase & Co. in the fourth quarter valued at $341,000. Finally, Coign Capital Advisors LLC purchased a new stake in shares of JPMorgan Chase & Co. in the 4th quarter valued at $688,000. Institutional investors and hedge funds own 71.55% of the company’s stock.

JPMorgan Chase & Co. Stock Up 4.0 %

JPM stock opened at $236.26 on Friday. The stock has a market cap of $660.60 billion, a P/E ratio of 11.97, a PEG ratio of 2.83 and a beta of 1.01. The company has a current ratio of 0.88, a quick ratio of 0.89 and a debt-to-equity ratio of 1.24. JPMorgan Chase & Co. has a twelve month low of $179.20 and a twelve month high of $280.25. The company’s 50 day moving average is $248.89 and its two-hundred day moving average is $242.03.

JPMorgan Chase & Co. (NYSE:JPM) last announced its quarterly earnings results on Friday, April 11th. The financial services provider reported $5.07 EPS 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 analyst estimates of $43.62 billion. During the same period last year, the business earned $4.44 EPS. JPMorgan Chase & Co.’s revenue for the quarter was up 8.0% compared to the same quarter last year. Research analysts expect that JPMorgan Chase & Co. will post 18.1 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Friday, April 4th will be issued a $1.40 dividend. 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 2.37%. The ex-dividend date is Friday, April 4th. JPMorgan Chase & Co.’s payout ratio is presently 28.37%.

Insider Activity at JPMorgan Chase & Co.

In related news, General Counsel Stacey Friedman sold 3,303 shares of the company’s stock in a transaction on Thursday, January 16th. The stock was sold at an average price of $253.94, for a total transaction of $838,763.82. Following the transaction, the general counsel now owns 47,620 shares of the company’s stock, valued at $12,092,622.80. This represents a 6.49 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Troy L. Rohrbaugh sold 37,500 shares of the stock in a transaction 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 completion of the transaction, the chief executive officer now 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 a total of 76,848 shares of company stock valued at $19,987,908 in the last three months. 0.79% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

JPM has been the subject of several research reports. Evercore ISI dropped their target price on JPMorgan Chase & Co. from $273.00 to $265.00 and set an “outperform” rating for the company in a research report on Tuesday, April 1st. Barclays lifted their price objective on shares of JPMorgan Chase & Co. from $304.00 to $330.00 and gave the company an “overweight” rating in a report on Thursday, January 16th. Baird R W raised shares of JPMorgan Chase & Co. from a “strong sell” rating to a “hold” rating in a research note on Friday, March 7th. Keefe, Bruyette & Woods raised their price target on shares of JPMorgan Chase & Co. from $257.00 to $264.00 and gave the company a “market perform” rating in a research report on Thursday, January 16th. Finally, UBS Group upped their price objective on JPMorgan Chase & Co. from $276.00 to $287.00 and gave the stock a “buy” rating in a research report on Thursday, January 16th. Ten analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, JPMorgan Chase & Co. presently has an average rating of “Moderate Buy” and a consensus target price of $254.83.

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.