Trust Co of the South Buys New Position in JPMorgan Chase & Co. (NYSE:JPM)

Trust Co of the South bought a new stake in shares of JPMorgan Chase & Co. (NYSE:JPM) during the 4th quarter, HoldingsChannel.com reports. The fund bought 4,893 shares of the financial services provider’s stock, valued at approximately $832,000.

Other hedge funds also recently modified their holdings of the company. State Street Corp boosted its position in JPMorgan Chase & Co. by 1.9% in the second quarter. State Street Corp now owns 126,243,947 shares of the financial services provider’s stock worth $18,360,920,000 after purchasing an additional 2,384,901 shares during the last quarter. Moneta Group Investment Advisors LLC boosted its position in JPMorgan Chase & Co. by 105,652.2% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 98,000,567 shares of the financial services provider’s stock worth $13,141,876,000 after purchasing an additional 97,907,897 shares during the last quarter. Morgan Stanley boosted its position in JPMorgan Chase & Co. by 0.3% in the third quarter. Morgan Stanley now owns 62,941,343 shares of the financial services provider’s stock worth $9,127,754,000 after purchasing an additional 201,441 shares during the last quarter. FMR LLC boosted its position in JPMorgan Chase & Co. by 1.2% in the third quarter. FMR LLC now owns 49,417,639 shares of the financial services provider’s stock worth $7,166,546,000 after purchasing an additional 606,382 shares during the last quarter. Finally, Wellington Management Group LLP raised its stake in shares of JPMorgan Chase & Co. by 12.2% in the third quarter. Wellington Management Group LLP now owns 42,421,711 shares of the financial services provider’s stock valued at $6,151,997,000 after buying an additional 4,603,090 shares during the period. Hedge funds and other institutional investors own 71.55% of the company’s stock.

Analyst Ratings Changes

Several brokerages have issued reports on JPM. Bank of America boosted their target price on JPMorgan Chase & Co. from $177.00 to $188.00 and gave the company a “buy” rating in a research note on Thursday, January 4th. Wells Fargo & Company boosted their target price on JPMorgan Chase & Co. from $200.00 to $220.00 and gave the company an “overweight” rating in a research note on Wednesday, March 20th. BMO Capital Markets boosted their target price on JPMorgan Chase & Co. from $192.00 to $194.00 and gave the company a “market perform” rating in a research note on Tuesday, January 16th. Piper Sandler boosted their target price on JPMorgan Chase & Co. from $190.00 to $200.00 and gave the company an “overweight” rating in a research note on Tuesday, January 16th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $185.00 target price on shares of JPMorgan Chase & Co. in a research note on Wednesday, March 20th. Eight equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, JPMorgan Chase & Co. presently has an average rating of “Moderate Buy” and a consensus target price of $181.63.

Insider Transactions at JPMorgan Chase & Co.

In other news, Vice Chairman Peter Scher sold 1,812 shares of the company’s stock in a transaction dated Tuesday, January 16th. The stock was sold at an average price of $166.65, for a total value of $301,969.80. Following the completion of the transaction, the insider now directly owns 46,766 shares in the company, valued at approximately $7,793,553.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, Vice Chairman Peter Scher sold 1,812 shares of the stock in a transaction dated Tuesday, January 16th. The stock was sold at an average price of $166.65, for a total transaction of $301,969.80. Following the completion of the sale, the insider now directly owns 46,766 shares in the company, valued at approximately $7,793,553.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, General Counsel Stacey Friedman sold 6,030 shares of JPMorgan Chase & Co. stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $182.73, for a total transaction of $1,101,861.90. Following the completion of the transaction, the general counsel now directly owns 59,456 shares in the company, valued at $10,864,394.88. The disclosure for this sale can be found here. In the last three months, insiders sold 849,303 shares of company stock worth $155,107,447. 0.79% of the stock is currently owned by corporate insiders.

JPMorgan Chase & Co. Price Performance

JPMorgan Chase & Co. stock opened at $199.52 on Thursday. JPMorgan Chase & Co. has a 52 week low of $126.22 and a 52 week high of $200.48. The business has a 50-day simple moving average of $181.58 and a 200 day simple moving average of $163.37. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 1.30. The stock has a market cap of $574.69 billion, a price-to-earnings ratio of 12.30, a PEG ratio of 2.46 and a beta of 1.14.

JPMorgan Chase & Co. (NYSE:JPM) last posted its earnings results on Friday, January 12th. The financial services provider reported $3.04 EPS for the quarter, missing the consensus estimate of $3.73 by ($0.69). JPMorgan Chase & Co. had a return on equity of 17.80% and a net margin of 20.70%. The business had revenue of $38.57 billion for the quarter, compared to analysts’ expectations of $39.73 billion. During the same quarter in the previous year, the firm earned $3.57 earnings per share. JPMorgan Chase & Co.’s quarterly revenue was up 11.7% compared to the same quarter last year. On average, research analysts forecast that JPMorgan Chase & Co. will post 15.84 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Friday, April 5th will be issued a $1.15 dividend. This is a boost from JPMorgan Chase & Co.’s previous quarterly dividend of $1.05. This represents a $4.60 dividend on an annualized basis and a dividend yield of 2.31%. The ex-dividend date is Thursday, April 4th. JPMorgan Chase & Co.’s dividend payout ratio is presently 28.36%.

About JPMorgan Chase & Co.

JPMorgan Chase & Co operates as a financial services company worldwide. It operates through four segments: Consumer & Community Banking (CCB), Corporate & Investment Bank (CIB), Commercial Banking (CB), and Asset & Wealth Management (AWM). The CCB segment offers deposit, investment and lending products, cash management, and payments and services; mortgage origination and servicing activities; residential mortgages and home equity loans; and credit cards, auto loans, leases, and travel services to consumers and small businesses through bank branches, ATMs, and digital and telephone banking.