United Bank lifted its position in shares of JPMorgan Chase & Co. (NYSE:JPM – Get Rating) by 2.5% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 27,744 shares of the financial services provider’s stock after purchasing an additional 666 shares during the period. JPMorgan Chase & Co. comprises about 0.5% of United Bank’s holdings, making the stock its 10th largest position. United Bank’s holdings in JPMorgan Chase & Co. were worth $4,393,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Renaissance Technologies LLC lifted its stake in shares of JPMorgan Chase & Co. by 1,543.7% in the 4th quarter. Renaissance Technologies LLC now owns 3,341,486 shares of the financial services provider’s stock worth $529,124,000 after acquiring an additional 3,138,200 shares during the period. Capital World Investors lifted its position in JPMorgan Chase & Co. by 3.9% in the third quarter. Capital World Investors now owns 74,302,154 shares of the financial services provider’s stock valued at $12,162,752,000 after purchasing an additional 2,764,341 shares during the period. National Bank of Canada FI acquired a new position in JPMorgan Chase & Co. during the 4th quarter worth approximately $298,028,000. Franklin Resources Inc. raised its stake in shares of JPMorgan Chase & Co. by 13.4% during the 3rd quarter. Franklin Resources Inc. now owns 15,516,265 shares of the financial services provider’s stock worth $2,539,859,000 after buying an additional 1,827,675 shares in the last quarter. Finally, Altshuler Shaham Ltd lifted its holdings in shares of JPMorgan Chase & Co. by 4,144,969.8% in the 3rd quarter. Altshuler Shaham Ltd now owns 1,782,380 shares of the financial services provider’s stock valued at $329,233,000 after buying an additional 1,782,337 shares during the period. 70.35% of the stock is owned by hedge funds and other institutional investors.
In other news, CEO Jennifer Piepszak sold 4,668 shares of JPMorgan Chase & Co. stock in a transaction dated Thursday, April 14th. The stock was sold at an average price of $126.19, for a total value of $589,054.92. Following the transaction, the chief executive officer now directly owns 11,135 shares of the company’s stock, valued at approximately $1,405,125.65. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Ashley Bacon sold 21,012 shares of the stock in a transaction that occurred on Tuesday, April 19th. The stock was sold at an average price of $130.04, for a total transaction of $2,732,400.48. Following the sale, the insider now directly owns 178,588 shares of the company’s stock, valued at approximately $23,223,583.52. The disclosure for this sale can be found here. 0.79% of the stock is currently owned by company insiders.
JPMorgan Chase & Co. (NYSE:JPM – Get Rating) last posted its quarterly earnings data on Wednesday, April 13th. The financial services provider reported $2.63 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.73 by ($0.10). JPMorgan Chase & Co. had a return on equity of 16.58% and a net margin of 33.61%. The business had revenue of $30.72 billion for the quarter, compared to analyst estimates of $30.53 billion. During the same quarter last year, the business earned $4.50 EPS. JPMorgan Chase & Co.’s revenue for the quarter was down 4.8% compared to the same quarter last year. Research analysts forecast that JPMorgan Chase & Co. will post 11.04 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Sunday, July 31st. Stockholders of record on Wednesday, July 6th will be issued a dividend of $1.00 per share. The ex-dividend date is Tuesday, July 5th. This represents a $4.00 annualized dividend and a dividend yield of 3.38%. JPMorgan Chase & Co.’s payout ratio is currently 29.67%.
Several research analysts have issued reports on JPM shares. Zacks Investment Research upgraded JPMorgan Chase & Co. from a “sell” rating to a “hold” rating and set a $147.00 price objective for the company in a research report on Monday, March 21st. Piper Sandler boosted their price objective on shares of JPMorgan Chase & Co. from $165.00 to $170.00 and gave the stock an “overweight” rating in a report on Thursday, April 14th. The Goldman Sachs Group set a $151.00 target price on shares of JPMorgan Chase & Co. and gave the company a “buy” rating in a report on Thursday, April 14th. Oppenheimer raised JPMorgan Chase & Co. from a “market perform” rating to an “outperform” rating and set a $167.00 price target on the stock in a research note on Tuesday, May 3rd. Finally, Barclays set a $200.00 price objective on JPMorgan Chase & Co. in a research note on Tuesday. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $161.17.
JPMorgan Chase & Co. Profile (Get Rating)
JPMorgan Chase & Co operates as a financial services company worldwide. It operates through four segments: Consumer & Community Banking (CCB), Corporate & Investment Bank (CIB), Commercial Banking (CB), and Asset & Wealth Management (AWM). The CCB segment offers s deposit, investment and lending products, payments, and services to consumers; lending, deposit, and cash management and payment solutions to small businesses; mortgage origination and servicing activities; residential mortgages and home equity loans; and credit card, auto loan, and leasing services.
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