Primecap Management Co. CA Cuts Position in JPMorgan Chase & Co. (NYSE:JPM)

Primecap Management Co. CA lowered its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 5.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,319,450 shares of the financial services provider’s stock after selling 327,815 shares during the quarter. Primecap Management Co. CA’s holdings in JPMorgan Chase & Co. were worth $1,275,125,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of JPM. Midwest Capital Advisors LLC purchased a new position in shares of JPMorgan Chase & Co. during the 4th quarter valued at approximately $43,000. Collier Financial acquired a new position in JPMorgan Chase & Co. during the fourth quarter worth $45,000. Lowe Wealth Advisors LLC raised its position in JPMorgan Chase & Co. by 34.0% during the fourth quarter. Lowe Wealth Advisors LLC now owns 201 shares of the financial services provider’s stock worth $48,000 after acquiring an additional 51 shares during the period. Kieckhefer Group LLC purchased a new position in JPMorgan Chase & Co. during the fourth quarter valued at $50,000. Finally, Legacy Investment Solutions LLC acquired a new stake in shares of JPMorgan Chase & Co. in the third quarter valued at about $45,000. 71.55% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on JPM shares. Wolfe Research upgraded shares of JPMorgan Chase & Co. from a “peer perform” rating to an “outperform” rating and set a $269.00 price target for the company in a research report on Friday, January 3rd. UBS Group increased their target price on JPMorgan Chase & Co. from $276.00 to $287.00 and gave the company a “buy” rating in a report on Thursday, January 16th. Barclays lifted their price target on JPMorgan Chase & Co. from $304.00 to $330.00 and gave the stock an “overweight” rating in a research note on Thursday, January 16th. Robert W. Baird raised JPMorgan Chase & Co. from an “underperform” rating to a “neutral” rating and increased their price objective for the company from $215.00 to $220.00 in a research note on Friday, March 7th. Finally, Truist Financial raised their price objective on JPMorgan Chase & Co. from $260.00 to $268.00 and gave the company a “hold” rating in a report 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’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $252.89.

JPMorgan Chase & Co. Stock Performance

JPMorgan Chase & Co. stock opened at $250.99 on Wednesday. The firm has a 50 day simple moving average of $258.02 and a 200-day simple moving average of $239.98. 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 has a market cap of $701.79 billion, a price-to-earnings ratio of 12.71, a price-to-earnings-growth ratio of 2.83 and a beta of 1.10.

JPMorgan Chase & Co. (NYSE:JPM) last released its quarterly earnings data on Wednesday, January 15th. The financial services provider reported $4.81 EPS for the quarter, beating analysts’ consensus estimates of $4.03 by $0.78. The firm had revenue of $42.77 billion for the quarter, compared to analysts’ expectations of $41.90 billion. JPMorgan Chase & Co. had a return on equity of 16.99% and a net margin of 20.96%. The firm’s quarterly revenue was up 10.9% on a year-over-year basis. During the same period in the prior year, the firm posted $3.04 earnings per share. On average, analysts expect that JPMorgan Chase & Co. will post 18.1 EPS for the current year.

JPMorgan Chase & Co. Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Friday, April 4th will be issued a dividend of $1.40 per share. The ex-dividend date of this dividend is 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 2.23%. JPMorgan Chase & Co.’s dividend payout ratio is currently 28.37%.

Insider Buying and Selling

In other news, CEO Troy L. Rohrbaugh sold 37,500 shares of the firm’s stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $269.84, for a total transaction 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 $42,737,529.04. This trade represents a 19.14 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Robin Leopold sold 1,250 shares of JPMorgan Chase & Co. stock in a transaction on 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 of the company’s stock, valued at $13,606,323.93. The trade was a 2.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 76,848 shares of company stock valued at $19,987,908. 0.79% of the stock is currently owned by insiders.

JPMorgan Chase & Co. Company Profile

JPMorgan Chase & Co is a financial holding company, which engages in the provision of financial and investment banking services. The firm offers a range of investment banking products and services in all capital markets, including advising on corporate strategy and structure, capital raising in equity and debt markets, risk management, market making in cash securities and derivative instruments, and brokerage and research.