RiverFront Investment Group LLC Boosts Stake in JPMorgan Chase & Co. (NYSE:JPM)

RiverFront Investment Group LLC lifted its position in JPMorgan Chase & Co. (NYSE:JPM) by 6.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 153,511 shares of the financial services provider’s stock after purchasing an additional 9,597 shares during the quarter. RiverFront Investment Group LLC’s holdings in JPMorgan Chase & Co. were worth $36,798,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Norges Bank purchased a new position in shares of JPMorgan Chase & Co. during the fourth quarter worth approximately $8,310,884,000. Proficio Capital Partners LLC grew its position in JPMorgan Chase & Co. by 34,259.3% during the 4th quarter. Proficio Capital Partners LLC now owns 3,499,499 shares of the financial services provider’s stock worth $838,865,000 after purchasing an additional 3,489,314 shares during the last quarter. KLP Kapitalforvaltning AS acquired a new position in JPMorgan Chase & Co. in the fourth quarter valued at $259,038,000. Franklin Resources Inc. increased its stake in JPMorgan Chase & Co. by 7.2% in 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 purchasing an additional 1,016,289 shares during the period. Finally, DJE Kapital AG purchased a new stake in shares of JPMorgan Chase & Co. in the fourth quarter valued at about $179,870,000. Hedge funds and other institutional investors own 71.55% of the company’s stock.

Analyst Ratings Changes

Several research firms have commented on JPM. 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 upped their price target on JPMorgan Chase & Co. from $260.00 to $268.00 and gave the stock a “hold” rating in a research note on Thursday, January 16th. Keefe, Bruyette & Woods lifted their price objective 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. Piper Sandler boosted their price objective on shares of JPMorgan Chase & Co. from $240.00 to $275.00 and gave the company an “overweight” rating in a research note on Tuesday, December 3rd. Finally, Barclays raised their target price on shares of JPMorgan Chase & Co. from $304.00 to $330.00 and gave the stock an “overweight” rating in a research note on Thursday, January 16th. Ten investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $254.83.

Insider Buying and Selling

In other news, insider Robin Leopold sold 1,250 shares of the firm’s stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $246.92, for a total value of $308,650.00. Following the transaction, the insider now directly owns 49,127 shares in the company, valued at $12,130,438.84. This trade represents a 2.48 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, General Counsel Stacey Friedman sold 3,303 shares of JPMorgan Chase & Co. stock in a transaction dated Thursday, January 16th. The shares were 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 directly owns 47,620 shares in the company, valued at $12,092,622.80. This represents a 6.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 76,848 shares of company stock valued at $19,987,908. Insiders own 0.79% of the company’s stock.

JPMorgan Chase & Co. Trading Down 0.7 %

Shares of JPM opened at $243.58 on Wednesday. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.88 and a quick ratio of 0.89. JPMorgan Chase & Co. has a 1-year low of $179.20 and a 1-year high of $280.25. The stock has a market cap of $681.06 billion, a price-to-earnings ratio of 12.34, a price-to-earnings-growth ratio of 2.83 and a beta of 1.10. The firm has a 50 day simple moving average of $256.88 and a 200-day simple moving average of $241.33.

JPMorgan Chase & Co. (NYSE:JPM) last posted its quarterly earnings data on Wednesday, January 15th. The financial services provider reported $4.81 EPS for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $41.90 billion. During the same quarter last year, the business posted $3.04 EPS. The firm’s quarterly revenue was up 10.9% compared to the same quarter last year. Equities analysts forecast that JPMorgan Chase & Co. will post 18.1 EPS for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Friday, April 4th will be issued a $1.40 dividend. This represents a $5.60 dividend on an annualized basis and a yield of 2.30%. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.25. The ex-dividend date of this dividend is Friday, April 4th. JPMorgan Chase & Co.’s payout ratio is presently 28.37%.

JPMorgan Chase & Co. 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.