Rafferty Asset Management LLC Increases Stock Position in JPMorgan Chase & Co. (NYSE:JPM)

Rafferty Asset Management LLC lifted its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 3.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 993,280 shares of the financial services provider’s stock after acquiring an additional 28,694 shares during the period. JPMorgan Chase & Co. accounts for about 0.8% of Rafferty Asset Management LLC’s holdings, making the stock its 29th biggest position. Rafferty Asset Management LLC’s holdings in JPMorgan Chase & Co. were worth $238,099,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of JPM. Geode Capital Management LLC grew its position in JPMorgan Chase & Co. by 1.5% in the 4th 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 purchased a new position in JPMorgan Chase & Co. in the 4th quarter valued at $8,310,884,000. Northern Trust Corp grew its position in JPMorgan Chase & Co. by 15.4% in the 4th 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 grew its position in JPMorgan Chase & Co. by 9.1% in the 4th 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. grew its position in JPMorgan Chase & Co. by 0.4% in the 4th 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 currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

JPM has been the subject of a number of recent analyst reports. Baird R W raised JPMorgan Chase & Co. from a “strong sell” rating to a “hold” rating in a report on Friday, March 7th. StockNews.com raised JPMorgan Chase & Co. from a “sell” rating to a “hold” rating in a report on Wednesday. UBS Group raised their target price on JPMorgan Chase & Co. from $277.00 to $305.00 and gave the company a “buy” rating in a report on Thursday, April 17th. Evercore ISI cut their price target on JPMorgan Chase & Co. from $273.00 to $265.00 and set an “outperform” rating for the company in a research note on Tuesday, April 1st. Finally, Truist Financial set a $261.00 price target on JPMorgan Chase & Co. in a research note on Monday, April 14th. Eleven analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $255.67.

JPMorgan Chase & Co. Stock Up 1.1%

JPM opened at $265.81 on Thursday. 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 capitalization of $738.71 billion, a price-to-earnings ratio of 13.47, a price-to-earnings-growth ratio of 2.83 and a beta of 1.07. The business has a 50-day moving average of $239.24 and a two-hundred day moving average of $246.33. JPMorgan Chase & Co. has a 12 month low of $190.88 and a 12 month high of $280.25.

JPMorgan Chase & Co. (NYSE:JPM) last posted its quarterly earnings results on Friday, April 11th. The financial services provider reported $5.07 EPS for the quarter, beating the consensus estimate 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%. The firm’s revenue was up 8.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $4.44 EPS. On average, research analysts expect that JPMorgan Chase & Co. will post 18.1 earnings per share for the current year.

JPMorgan Chase & Co. Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 30th. Investors of record on Friday, April 4th were given a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a yield of 2.11%. The ex-dividend date of this dividend was Friday, April 4th. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.25. JPMorgan Chase & Co.’s dividend payout ratio is 27.49%.

Insider Buying and Selling

In other JPMorgan Chase & Co. news, Director Linda Bammann sold 9,500 shares of the stock in a transaction that occurred on Tuesday, May 6th. The shares were sold at an average price of $250.00, for a total value of $2,375,000.00. Following the completion of the sale, the director now owns 91,539 shares of the company’s stock, valued at $22,884,750. This trade represents a 9.40% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Jennifer Piepszak sold 6,129 shares of the stock in a transaction that occurred on Tuesday, May 6th. The shares were sold at an average price of $250.76, for a total value of $1,536,908.04. Following the transaction, the chief operating officer now owns 68,583 shares of the company’s stock, valued at approximately $17,197,873.08. This trade represents a 8.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 129,188 shares of company stock valued at $33,095,363. 0.47% of the stock is currently owned by corporate insiders.

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.