Baxter Bros Inc. Has $18.80 Million Stake in JPMorgan Chase & Co. (NYSE:JPM)

Baxter Bros Inc. lowered its position in JPMorgan Chase & Co. (NYSE:JPM) by 2.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 78,407 shares of the financial services provider’s stock after selling 1,824 shares during the quarter. JPMorgan Chase & Co. makes up about 2.5% of Baxter Bros Inc.’s investment portfolio, making the stock its 13th largest holding. Baxter Bros Inc.’s holdings in JPMorgan Chase & Co. were worth $18,795,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of JPM. Geode Capital Management LLC increased its holdings in shares of JPMorgan Chase & Co. by 0.9% during the 3rd quarter. Geode Capital Management LLC now owns 58,344,186 shares of the financial services provider’s stock worth $12,258,346,000 after acquiring an additional 505,830 shares during the last quarter. Charles Schwab Investment Management Inc. increased 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 purchasing an additional 71,122 shares during the last quarter. Fisher Asset Management LLC raised its position in shares of JPMorgan Chase & Co. by 3.7% in the fourth quarter. Fisher Asset Management LLC now owns 17,401,436 shares of the financial services provider’s stock valued at $4,171,298,000 after purchasing an additional 617,164 shares during the period. Franklin Resources Inc. raised its position in shares of 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, Principal Financial Group Inc. lifted its stake in shares of JPMorgan Chase & Co. by 3.2% during the 3rd quarter. Principal Financial Group Inc. now owns 5,824,289 shares of the financial services provider’s stock worth $1,228,110,000 after buying an additional 182,648 shares during the last quarter. Institutional investors own 71.55% of the company’s stock.

JPMorgan Chase & Co. Stock Down 2.1 %

Shares of JPM opened at $242.97 on Monday. The firm has a 50 day simple moving average of $257.55 and a two-hundred day simple moving average of $240.77. The company has a market cap of $679.36 billion, a P/E ratio of 12.31, a P/E/G ratio of 2.83 and a beta of 1.10. JPMorgan Chase & Co. has a one year low of $179.20 and a one 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.

JPMorgan Chase & Co. (NYSE:JPM) last released its quarterly earnings data on Wednesday, January 15th. The financial services provider reported $4.81 earnings per share for the quarter, beating the consensus estimate 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 business had revenue of $42.77 billion for the quarter, compared to analyst estimates of $41.90 billion. During the same period last year, the firm posted $3.04 earnings per share. JPMorgan Chase & Co.’s revenue was up 10.9% compared to the same quarter last year. Research 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 declared a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Friday, April 4th will be issued a dividend of $1.40 per share. The ex-dividend date is Friday, April 4th. This is a positive change from JPMorgan Chase & Co.’s previous quarterly dividend of $1.25. This represents a $5.60 annualized dividend and a dividend yield of 2.30%. JPMorgan Chase & Co.’s payout ratio is 28.37%.

Insider Buying and Selling

In other news, insider Robin Leopold sold 1,250 shares of the company’s stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $270.09, for a total transaction of $337,612.50. Following the completion of the transaction, the insider now directly owns 50,377 shares in the company, valued at approximately $13,606,323.93. This represents a 2.42 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Troy L. Rohrbaugh sold 25,000 shares of the firm’s stock in a transaction on Monday, March 24th. The shares were sold at an average price of $247.02, for a total value of $6,175,500.00. Following the sale, the chief executive officer now directly owns 133,381 shares in the company, valued at approximately $32,947,774.62. This trade represents a 15.78 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 76,848 shares of company stock worth $19,987,908 in the last three months. 0.79% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research firms have weighed in on JPM. Wolfe Research raised shares of JPMorgan Chase & Co. from a “peer perform” rating to an “outperform” rating and set a $269.00 price target on the stock in a report on Friday, January 3rd. Robert W. Baird raised JPMorgan Chase & Co. from an “underperform” rating to a “neutral” rating and lifted their price target for the stock from $215.00 to $220.00 in a report on Friday, March 7th. UBS Group boosted their price target on JPMorgan Chase & Co. from $276.00 to $287.00 and gave the company a “buy” rating in a research note on Thursday, January 16th. Piper Sandler increased their price objective on JPMorgan Chase & Co. from $240.00 to $275.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 3rd. Finally, Baird R W raised shares of JPMorgan Chase & Co. from a “strong sell” rating to a “hold” rating in a research report on Friday, March 7th. Ten research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, JPMorgan Chase & Co. presently has an average rating of “Moderate Buy” and an average target price of $252.89.

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.