Yoffe Investment Management LLC Takes Position in JPMorgan Chase & Co. (NYSE:JPM)

Yoffe Investment Management LLC bought a new position in shares of JPMorgan Chase & Co. (NYSE:JPM) in the 4th quarter, Holdings Channel reports. The fund bought 6,761 shares of the financial services provider’s stock, valued at approximately $1,621,000. JPMorgan Chase & Co. accounts for 1.6% of Yoffe Investment Management LLC’s portfolio, making the stock its 12th largest position.

A number of other hedge funds have also added to or reduced their stakes in the business. Geode Capital Management LLC boosted its position in shares of JPMorgan Chase & Co. by 1.5% during the 4th quarter. Geode Capital Management LLC now owns 59,220,603 shares of the financial services provider’s stock worth $14,161,171,000 after purchasing an additional 876,417 shares in the last quarter. Norges Bank bought a new position in JPMorgan Chase & Co. in the fourth quarter worth approximately $8,310,884,000. Charles Schwab Investment Management Inc. boosted its holdings in JPMorgan Chase & Co. by 0.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 20,103,063 shares of the financial services provider’s stock worth $4,818,905,000 after acquiring an additional 71,122 shares in the last quarter. Fisher Asset Management LLC grew its stake in JPMorgan Chase & Co. by 3.7% in the fourth quarter. Fisher Asset Management LLC now owns 17,401,436 shares of the financial services provider’s stock valued at $4,171,298,000 after acquiring an additional 617,164 shares during the period. Finally, Franklin Resources Inc. increased its holdings in shares of JPMorgan Chase & Co. by 7.2% during the third quarter. Franklin Resources Inc. now owns 15,073,193 shares of the financial services provider’s stock valued at $3,338,955,000 after acquiring an additional 1,016,289 shares in the last quarter. 71.55% of the stock is currently owned by institutional investors.

JPMorgan Chase & Co. Trading Down 8.1 %

NYSE:JPM opened at $210.09 on Friday. The company has a market cap of $587.43 billion, a P/E ratio of 10.64, a P/E/G ratio of 2.83 and a beta of 1.01. JPMorgan Chase & Co. has a 1 year low of $179.20 and a 1 year high of $280.25. 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 stock’s fifty day moving average price is $254.71 and its two-hundred day moving average price is $241.51.

JPMorgan Chase & Co. (NYSE:JPM) last announced its quarterly earnings results on Wednesday, January 15th. The financial services provider reported $4.81 earnings per share for the quarter, beating the consensus estimate of $4.03 by $0.78. JPMorgan Chase & Co. had a return on equity of 16.99% and a net margin of 20.96%. The firm had revenue of $42.77 billion for the quarter, compared to analysts’ expectations of $41.90 billion. During the same period in the prior year, the business posted $3.04 earnings per share. The company’s revenue was up 10.9% on a year-over-year basis. As a group, analysts expect that JPMorgan Chase & Co. will post 18.1 EPS for the current 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 given 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 dividend on an annualized basis and a dividend yield of 2.67%. The ex-dividend date is Friday, April 4th. JPMorgan Chase & Co.’s payout ratio is 28.37%.

Insider Transactions at JPMorgan Chase & Co.

In related news, CEO Troy L. Rohrbaugh sold 25,000 shares of the business’s stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $247.02, for a total transaction of $6,175,500.00. Following the completion of the transaction, the chief executive officer now directly owns 133,381 shares in the company, valued at $32,947,774.62. The trade was a 15.78 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Robin Leopold sold 1,250 shares of the firm’s stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $270.09, for a total value of $337,612.50. Following the completion of the sale, the insider now directly owns 50,377 shares in the company, valued at approximately $13,606,323.93. The trade was a 2.42 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 76,848 shares of company stock valued at $19,987,908. 0.79% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on JPM shares. Barclays lifted their price target on shares of JPMorgan Chase & Co. from $304.00 to $330.00 and gave the company an “overweight” rating in a research report on Thursday, January 16th. Truist Financial decreased their target price on shares of JPMorgan Chase & Co. from $268.00 to $264.00 and set a “hold” rating for the company in a research report on Friday. Evercore ISI lowered their price target 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. UBS Group boosted their price target on shares of JPMorgan Chase & Co. from $276.00 to $287.00 and gave the stock a “buy” rating in a report on Thursday, January 16th. Finally, Baird R W upgraded JPMorgan Chase & Co. from a “strong sell” rating to a “hold” rating in a research note on Friday, March 7th. Ten research 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, JPMorgan Chase & Co. currently has an average 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.