Rossby Financial LCC Purchases Shares of 2,931 JPMorgan Chase & Co. (NYSE:JPM)

Rossby Financial LCC acquired a new position in JPMorgan Chase & Co. (NYSE:JPM) during the fourth quarter, Holdings Channel reports. The firm acquired 2,931 shares of the financial services provider’s stock, valued at approximately $703,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in JPM. Aware Super Pty Ltd as trustee of Aware Super bought a new position in shares of JPMorgan Chase & Co. in the fourth quarter worth approximately $61,568,000. Dagco Inc. increased its holdings in shares of JPMorgan Chase & Co. by 10.7% in the fourth quarter. Dagco Inc. now owns 13,127 shares of the financial services provider’s stock worth $3,147,000 after buying an additional 1,274 shares during the period. Canada Post Corp Registered Pension Plan purchased a new stake in JPMorgan Chase & Co. during the 4th quarter valued at about $21,902,000. Defined Financial Planning LLC purchased a new position in JPMorgan Chase & Co. in the 4th quarter worth approximately $287,000. Finally, LaSalle St. Investment Advisors LLC lifted its position in JPMorgan Chase & Co. by 26.1% in the fourth quarter. LaSalle St. Investment Advisors LLC now owns 5,970 shares of the financial services provider’s stock valued at $1,431,000 after purchasing an additional 1,236 shares during the last quarter. 71.55% of the stock is currently owned by hedge funds and other institutional investors.

JPMorgan Chase & Co. Price Performance

Shares of JPM opened at $236.26 on Monday. The company has a market capitalization of $660.60 billion, a P/E ratio of 11.97, a price-to-earnings-growth ratio of 2.83 and a beta of 1.01. 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 50 day moving average of $248.89 and a 200 day moving average of $242.26.

JPMorgan Chase & Co. (NYSE:JPM) last posted its earnings results on Friday, April 11th. The financial services provider reported $5.07 earnings per share (EPS) for the quarter, beating 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 business had revenue of $45.30 billion for the quarter, compared to analysts’ expectations of $43.62 billion. During the same quarter in the prior year, the business earned $4.44 EPS. The business’s revenue for the quarter was up 8.0% compared to the same quarter last year. As a group, equities research analysts anticipate 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 declared a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Friday, April 4th will be paid a $1.40 dividend. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.25. This represents a $5.60 dividend on an annualized basis and a dividend yield of 2.37%. The ex-dividend date is Friday, April 4th. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is 28.37%.

Insider Buying and Selling

In other news, General Counsel Stacey Friedman sold 3,303 shares of the business’s stock in a transaction on Thursday, January 16th. The shares were sold at an average price of $253.94, for a total transaction of $838,763.82. Following the completion of the sale, the general counsel now owns 47,620 shares of the company’s stock, valued at $12,092,622.80. The trade was a 6.49 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Robin Leopold sold 1,250 shares of JPMorgan Chase & Co. stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $270.09, for a total value of $337,612.50. Following the transaction, the insider now owns 50,377 shares in the company, valued at $13,606,323.93. This trade represents a 2.42 % decrease in their ownership of the stock. 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 90 days. Company insiders own 0.79% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. 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 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. Truist Financial cut their price target on shares of JPMorgan Chase & Co. from $268.00 to $264.00 and set a “hold” rating on the stock in a report on Friday, April 4th. UBS Group boosted their price target on shares of JPMorgan Chase & Co. from $276.00 to $287.00 and gave the company a “buy” rating in a research report on Thursday, January 16th. Finally, Keefe, Bruyette & Woods upped their target price on JPMorgan Chase & Co. from $257.00 to $264.00 and gave the stock a “market perform” rating in a 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. According to data from MarketBeat.com, JPMorgan Chase & Co. presently has a consensus rating of “Moderate Buy” and a consensus price target of $254.83.

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.