Russell Investments Group Ltd. Has $448.28 Million Stock Position in JPMorgan Chase & Co. (NYSE:JPM)

Russell Investments Group Ltd. lowered its position in JPMorgan Chase & Co. (NYSE:JPM) by 4.0% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 1,870,328 shares of the financial services provider’s stock after selling 78,125 shares during the period. JPMorgan Chase & Co. makes up about 0.6% of Russell Investments Group Ltd.’s portfolio, making the stock its 16th largest position. Russell Investments Group Ltd.’s holdings in JPMorgan Chase & Co. were worth $448,280,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Rahlfs Capital LLC bought a new stake in shares of JPMorgan Chase & Co. in the fourth quarter worth about $201,000. Hurley Capital LLC acquired a new position in shares of JPMorgan Chase & Co. in the 4th quarter valued at approximately $1,541,000. Envestnet Asset Management Inc. increased its stake in JPMorgan Chase & Co. by 1.0% during the 4th quarter. Envestnet Asset Management Inc. now owns 7,083,363 shares of the financial services provider’s stock worth $1,697,953,000 after purchasing an additional 67,065 shares in the last quarter. Perennial Investment Advisors LLC raised its holdings in JPMorgan Chase & Co. by 0.9% during the 4th quarter. Perennial Investment Advisors LLC now owns 9,285 shares of the financial services provider’s stock worth $2,226,000 after buying an additional 81 shares during the period. Finally, Aviva PLC lifted its stake in JPMorgan Chase & Co. by 5.8% in the fourth quarter. Aviva PLC now owns 1,851,809 shares of the financial services provider’s stock valued at $443,897,000 after buying an additional 102,319 shares in the last quarter. Institutional investors and hedge funds own 71.55% of the company’s stock.

JPMorgan Chase & Co. Stock Down 8.1 %

Shares of JPM opened at $210.09 on Monday. The firm’s 50-day simple moving average is $254.71 and its 200 day simple moving average is $241.75. 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 P/E ratio of 10.64, a price-to-earnings-growth ratio of 2.83 and a beta of 1.01. JPMorgan Chase & Co. has a 52 week low of $179.20 and a 52 week high of $280.25.

JPMorgan Chase & Co. (NYSE:JPM) last announced its earnings results on Wednesday, January 15th. The financial services provider reported $4.81 earnings per share for the quarter, topping analysts’ consensus estimates of $4.03 by $0.78. The company had revenue of $42.77 billion for the quarter, compared to analyst estimates of $41.90 billion. JPMorgan Chase & Co. had a return on equity of 16.99% and a net margin of 20.96%. The firm’s quarterly revenue was up 10.9% compared to the same quarter last year. During the same quarter last year, the company earned $3.04 earnings per share. On average, analysts forecast that JPMorgan Chase & Co. will post 18.1 earnings per share for the current 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 dividend of $1.40 per share. The ex-dividend date of this dividend is Friday, April 4th. This represents a $5.60 dividend on an annualized basis and a dividend yield of 2.67%. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.25. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is currently 28.37%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. Keefe, Bruyette & Woods increased their price objective on shares of JPMorgan Chase & Co. from $257.00 to $264.00 and gave the stock a “market perform” rating in a research report on Thursday, January 16th. Barclays increased their target price on JPMorgan Chase & Co. from $304.00 to $330.00 and gave the stock an “overweight” rating in a report on Thursday, January 16th. Bank of America cut their price target on JPMorgan Chase & Co. from $285.00 to $284.00 and set a “buy” rating on the stock in a report on Wednesday, April 2nd. UBS Group increased their price objective on JPMorgan Chase & Co. from $276.00 to $287.00 and gave the stock a “buy” rating in a report on Thursday, January 16th. Finally, Wolfe Research upgraded JPMorgan Chase & Co. from a “peer perform” rating to an “outperform” rating and set a $269.00 target price on the stock in a research note on Friday, January 3rd. Ten research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $254.83.

Insider Activity

In other JPMorgan Chase & Co. news, CEO Troy L. Rohrbaugh sold 37,500 shares of the firm’s stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $269.84, for a total transaction of $10,119,000.00. Following the transaction, the chief executive officer now owns 158,381 shares in the company, valued at $42,737,529.04. This trade represents a 19.14 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, General Counsel Stacey Friedman sold 3,303 shares of the firm’s stock in a transaction on Thursday, January 16th. The stock was sold at an average price of $253.94, for a total value of $838,763.82. Following the completion of the transaction, the general counsel now owns 47,620 shares in the company, valued at $12,092,622.80. The trade was a 6.49 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 76,848 shares of company stock valued at $19,987,908. 0.79% of the stock is 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.