Fayez Sarofim & Co Purchases 489,644 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Fayez Sarofim & Co raised its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 14.9% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 3,769,853 shares of the financial services provider’s stock after acquiring an additional 489,644 shares during the quarter. JPMorgan Chase & Co. accounts for 2.2% of Fayez Sarofim & Co’s investment portfolio, making the stock its 11th biggest holding. Fayez Sarofim & Co’s holdings in JPMorgan Chase & Co. were worth $910,227,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently modified their holdings of the company. Redwood Park Advisors LLC purchased a new stake in shares of JPMorgan Chase & Co. in the fourth quarter worth about $29,000. Sellwood Investment Partners LLC bought a new stake in JPMorgan Chase & Co. during the 4th quarter valued at $34,000. Investment Counsel Co. of Nevada purchased a new stake in JPMorgan Chase & Co. during the 4th quarter valued at $37,000. Midwest Capital Advisors LLC purchased a new stake in shares of JPMorgan Chase & Co. during the fourth quarter worth about $43,000. Finally, Prudent Man Investment Management Inc. purchased a new stake in JPMorgan Chase & Co. in the 4th quarter worth approximately $43,000. Institutional investors own 71.55% of the company’s stock.

JPMorgan Chase & Co. Stock Performance

Shares of JPMorgan Chase & Co. stock opened at $231.79 on Monday. JPMorgan Chase & Co. has a 12 month low of $185.98 and a 12 month high of $280.25. The stock’s fifty day moving average price is $244.72 and its 200-day moving average price is $243.10. The firm has a market cap of $645.07 billion, a P/E ratio of 11.74, a P/E/G ratio of 2.83 and a beta of 1.01. The company has a current ratio of 0.88, a quick ratio of 0.89 and a debt-to-equity ratio of 1.24.

JPMorgan Chase & Co. (NYSE:JPM) last posted its earnings results on Friday, April 11th. The financial services provider reported $5.07 EPS for the quarter, beating analysts’ consensus estimates of $4.63 by $0.44. JPMorgan Chase & Co. had a net margin of 20.96% and a return on equity of 16.99%. The company had revenue of $45.30 billion during the quarter, compared to analysts’ expectations of $43.62 billion. During the same quarter in the prior year, the company posted $4.44 earnings per share. JPMorgan Chase & Co.’s revenue for the quarter was up 8.0% compared to the same quarter last year. On average, equities research analysts expect that JPMorgan Chase & Co. will post 18.1 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 Wednesday, April 30th. Investors of record on Friday, April 4th will be issued a $1.40 dividend. This represents a $5.60 annualized dividend and a yield of 2.42%. This is a boost from JPMorgan Chase & Co.’s previous quarterly dividend of $1.25. The ex-dividend date of this dividend is Friday, April 4th. JPMorgan Chase & Co.’s payout ratio is presently 27.49%.

Insider Buying and Selling

In other JPMorgan Chase & Co. news, COO Jennifer Piepszak sold 4,273 shares of JPMorgan Chase & Co. 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 completion of the transaction, the chief operating officer now directly owns 54,469 shares of the company’s stock, valued at $14,698,459.65. The trade was a 7.27 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Troy L. Rohrbaugh sold 37,500 shares of the firm’s stock in a transaction that occurred on Thursday, February 20th. The shares were 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 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 ninety days, insiders sold 73,545 shares of company stock worth $19,149,144. 0.79% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

JPM has been the subject of several research analyst reports. StockNews.com cut shares of JPMorgan Chase & Co. from a “hold” rating to a “sell” rating in a research report on Monday, April 14th. KGI Securities initiated coverage on JPMorgan Chase & Co. in a report on Sunday, April 13th. They issued a “hold” rating for the company. Baird R W raised JPMorgan Chase & Co. from a “strong sell” rating to a “hold” rating in a research report on Friday, March 7th. Barclays raised their price target on shares of JPMorgan Chase & Co. from $304.00 to $330.00 and gave the company an “overweight” rating in a report on Thursday, January 16th. Finally, Truist Financial set a $261.00 price target on JPMorgan Chase & Co. in a report on Monday, April 14th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $255.67.

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.