Lazard Asset Management LLC Has $84.10 Million Stake in JPMorgan Chase & Co. (NYSE:JPM)

Lazard Asset Management LLC grew its position in JPMorgan Chase & Co. (NYSE:JPM) by 62.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 350,851 shares of the financial services provider’s stock after acquiring an additional 134,887 shares during the period. Lazard Asset Management LLC’s holdings in JPMorgan Chase & Co. were worth $84,101,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Geode Capital Management LLC raised its holdings in shares of JPMorgan Chase & Co. by 1.5% in the fourth quarter. Geode Capital Management LLC now owns 59,220,603 shares of the financial services provider’s stock valued at $14,161,171,000 after buying an additional 876,417 shares during the last quarter. Norges Bank bought a new position in shares of JPMorgan Chase & Co. in the fourth quarter valued at about $8,310,884,000. Northern Trust Corp raised its holdings in shares of JPMorgan Chase & Co. by 15.4% in the fourth quarter. Northern Trust Corp now owns 33,845,676 shares of the financial services provider’s stock valued at $8,113,147,000 after buying an additional 4,515,147 shares during the last quarter. Capital Research Global Investors raised its holdings in shares of JPMorgan Chase & Co. by 9.1% in the fourth quarter. Capital Research Global Investors now owns 22,841,033 shares of the financial services provider’s stock valued at $5,475,223,000 after buying an additional 1,914,049 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of 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 valued at $4,818,905,000 after buying an additional 71,122 shares during the last quarter. 71.55% of the stock is owned by institutional investors and hedge funds.

JPMorgan Chase & Co. Stock Performance

Shares of JPM stock opened at $259.67 on Tuesday. 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 has a market cap of $721.66 billion, a PE ratio of 13.15, a price-to-earnings-growth ratio of 2.83 and a beta of 1.07. The stock has a 50-day moving average of $238.44 and a 200-day moving average of $246.08. JPMorgan Chase & Co. has a one year low of $190.88 and a one year high of $280.25.

JPMorgan Chase & Co. (NYSE:JPM) last announced its quarterly earnings results on Friday, April 11th. The financial services provider reported $5.07 EPS for the quarter, beating analysts’ consensus estimates of $4.63 by $0.44. The company had revenue of $45.30 billion during the quarter, compared to analysts’ expectations of $43.62 billion. JPMorgan Chase & Co. had a return on equity of 16.99% and a net margin of 20.96%. JPMorgan Chase & Co.’s revenue was up 8.0% on a year-over-year basis. During the same period in the prior year, the business posted $4.44 EPS. As a group, sell-side analysts expect that JPMorgan Chase & Co. will post 18.1 earnings per share for the current year.

JPMorgan Chase & Co. Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 30th. Stockholders of record on Friday, April 4th were paid a $1.40 dividend. The ex-dividend date was Friday, April 4th. This is a boost 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 2.16%. JPMorgan Chase & Co.’s dividend payout ratio is 27.49%.

Insider Activity at JPMorgan Chase & Co.

In related news, CEO Troy L. Rohrbaugh sold 37,500 shares of the business’s stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $269.84, for a total value of $10,119,000.00. Following the completion of the transaction, the chief executive officer now directly owns 158,381 shares in the company, valued at approximately $42,737,529.04. The trade was a 19.14% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Jennifer Piepszak sold 4,273 shares of the business’s stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $269.85, for a total value of $1,153,069.05. Following the completion of the transaction, the chief operating officer now owns 54,469 shares of the company’s stock, valued at $14,698,459.65. This represents a 7.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 129,188 shares of company stock worth $33,095,363. 0.47% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of research analysts recently issued reports on JPM shares. KGI Securities assumed coverage on JPMorgan Chase & Co. in a report on Sunday, April 13th. They issued a “hold” rating for the company. Robert W. Baird raised JPMorgan Chase & Co. from an “underperform” rating to a “neutral” rating and boosted their price objective for the stock from $215.00 to $220.00 in a report on Friday, March 7th. StockNews.com cut JPMorgan Chase & Co. from a “hold” rating to a “sell” rating in a report on Tuesday, May 6th. Bank of America dropped their price objective on JPMorgan Chase & Co. from $285.00 to $284.00 and set a “buy” rating for the company in a report on Wednesday, April 2nd. Finally, Keefe, Bruyette & Woods boosted their price objective 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. One analyst has rated the stock with a sell rating, ten have given a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat, JPMorgan Chase & Co. currently has an average rating of “Hold” and a consensus price target of $255.67.

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.