Perennial Investment Advisors LLC Raises Stock Position in JPMorgan Chase & Co. (NYSE:JPM)

Perennial Investment Advisors LLC raised its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 0.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 9,285 shares of the financial services provider’s stock after purchasing an additional 81 shares during the quarter. Perennial Investment Advisors LLC’s holdings in JPMorgan Chase & Co. were worth $2,226,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Principal Financial Group Inc. grew its position 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 valued at $1,228,110,000 after acquiring an additional 182,648 shares during the period. United Bank increased its position in shares of JPMorgan Chase & Co. by 2.5% in the third quarter. United Bank now owns 25,354 shares of the financial services provider’s stock valued at $5,346,000 after buying an additional 614 shares in the last quarter. Kensington Investment Counsel LLC raised its stake in shares of JPMorgan Chase & Co. by 1.3% during the 3rd quarter. Kensington Investment Counsel LLC now owns 22,426 shares of the financial services provider’s stock worth $4,729,000 after buying an additional 291 shares during the period. Legacy Investment Solutions LLC purchased a new position in shares of JPMorgan Chase & Co. during the 3rd quarter valued at approximately $45,000. Finally, Pacific Center for Financial Services grew its stake in JPMorgan Chase & Co. by 1.5% in the 3rd quarter. Pacific Center for Financial Services now owns 3,349 shares of the financial services provider’s stock valued at $706,000 after acquiring an additional 49 shares during the period. 71.55% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. Baird R W upgraded shares of JPMorgan Chase & Co. from a “strong sell” rating to a “hold” rating in a research report on Friday, March 7th. 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. Keefe, Bruyette & Woods lifted their price target on JPMorgan Chase & Co. from $257.00 to $264.00 and gave the stock a “market perform” rating in a research note on Thursday, January 16th. Wolfe Research raised shares of JPMorgan Chase & Co. from a “peer perform” rating to an “outperform” rating and set a $269.00 target price on the stock in a research note on Friday, January 3rd. Finally, Truist Financial dropped their target price on shares of JPMorgan Chase & Co. from $268.00 to $264.00 and set a “hold” rating for the company in a report on Friday. Ten investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $254.83.

JPMorgan Chase & Co. Price Performance

JPMorgan Chase & Co. stock opened at $210.09 on Monday. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.89 and a current ratio of 0.88. The company has a market capitalization of $587.43 billion, a price-to-earnings ratio of 10.64, a price-to-earnings-growth ratio of 2.83 and a beta of 1.01. The company’s 50 day simple moving average is $254.71 and its 200-day simple moving average is $241.75. JPMorgan Chase & Co. has a 1 year low of $179.20 and a 1 year high of $280.25.

JPMorgan Chase & Co. (NYSE:JPM) last released its quarterly earnings results on Wednesday, January 15th. The financial services provider reported $4.81 EPS for the quarter, topping 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 during the quarter, compared to analyst estimates of $41.90 billion. During the same period last year, the business posted $3.04 earnings per share. The company’s quarterly revenue was up 10.9% on a year-over-year basis. As a group, equities 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 will be paid on Wednesday, April 30th. Shareholders 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 positive change from JPMorgan Chase & Co.’s previous quarterly dividend of $1.25. This represents a $5.60 dividend on an annualized basis and a yield of 2.67%. JPMorgan Chase & Co.’s dividend payout ratio is 28.37%.

Insider Transactions at JPMorgan Chase & Co.

In other news, COO Jennifer Piepszak sold 4,273 shares of the stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $269.85, for a total value of $1,153,069.05. Following the transaction, the chief operating officer now owns 54,469 shares in the company, valued at approximately $14,698,459.65. This represents a 7.27 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, 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 sale, the chief executive officer now owns 158,381 shares of the company’s stock, valued at approximately $42,737,529.04. The trade was a 19.14 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 76,848 shares of company stock valued at $19,987,908. 0.79% of the stock is currently owned by company 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.