USS Investment Management Ltd Cuts Stock Position in JPMorgan Chase & Co. (NYSE:JPM)

USS Investment Management Ltd lessened its position in shares of JPMorgan Chase & Co. (NYSE:JPM) by 0.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 452,108 shares of the financial services provider’s stock after selling 1,514 shares during the period. JPMorgan Chase & Co. accounts for 0.8% of USS Investment Management Ltd’s investment portfolio, making the stock its 29th largest position. USS Investment Management Ltd’s holdings in JPMorgan Chase & Co. were worth $108,495,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Redwood Park Advisors LLC bought a new stake in shares of JPMorgan Chase & Co. during the 4th quarter valued at $29,000. Sellwood Investment Partners LLC bought a new position in shares of JPMorgan Chase & Co. during the 4th quarter valued at about $34,000. Investment Counsel Co. of Nevada bought a new position in shares of JPMorgan Chase & Co. during the 4th quarter valued at about $37,000. Midwest Capital Advisors LLC bought a new position in JPMorgan Chase & Co. during the 4th quarter worth approximately $43,000. Finally, Prudent Man Investment Management Inc. bought a new position in JPMorgan Chase & Co. during the 4th quarter worth approximately $43,000. Hedge funds and other institutional investors own 71.55% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on JPM. UBS Group raised their price target on JPMorgan Chase & Co. from $277.00 to $305.00 and gave the stock a “buy” rating in a research report on Thursday, April 17th. TD Cowen began coverage on JPMorgan Chase & Co. in a research note on Thursday, May 15th. They issued a “buy” rating and a $305.00 target price for the company. Robert W. Baird upgraded JPMorgan Chase & Co. from an “underperform” rating to a “neutral” rating and lifted their price objective for the company from $215.00 to $220.00 in a research note on Friday, March 7th. Truist Financial set a $261.00 price objective on JPMorgan Chase & Co. in a research note on Monday, April 14th. Finally, Baird R W raised JPMorgan Chase & Co. from a “strong sell” rating to a “hold” rating in a report on Friday, March 7th. Eleven research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $258.26.

JPMorgan Chase & Co. Price Performance

Shares of JPMorgan Chase & Co. stock opened at $264.60 on Tuesday. The company has a quick ratio of 0.89, a current ratio of 0.88 and a debt-to-equity ratio of 1.24. The company has a market capitalization of $735.35 billion, a price-to-earnings ratio of 13.40, a PEG ratio of 2.83 and a beta of 1.07. JPMorgan Chase & Co. has a 52 week low of $190.88 and a 52 week high of $280.25. The stock’s 50-day simple moving average is $241.45 and its 200-day simple moving average is $247.55.

JPMorgan Chase & Co. (NYSE:JPM) last issued its quarterly earnings data on Friday, April 11th. The financial services provider reported $5.07 earnings per share for the quarter, topping the consensus estimate of $4.63 by $0.44. The company had revenue of $45.30 billion for the quarter, compared to analysts’ expectations of $43.62 billion. JPMorgan Chase & Co. had a return on equity of 16.99% and a net margin of 20.96%. The firm’s revenue for the quarter was up 8.0% on a year-over-year basis. During the same period in the previous year, the firm posted $4.44 earnings per share. As a group, analysts expect that JPMorgan Chase & Co. will post 18.1 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Thursday, July 3rd will be paid a $1.40 dividend. This represents a $5.60 annualized dividend and a yield of 2.12%. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is currently 27.49%.

Insider Buying and Selling

In other JPMorgan Chase & Co. news, CEO Troy L. Rohrbaugh sold 37,500 shares of the company’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 sale, the chief executive officer now owns 158,381 shares in the company, valued at $42,737,529.04. This represents a 19.14% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Jennifer Piepszak sold 4,273 shares of the stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $269.85, for a total value of $1,153,069.05. Following the sale, the chief operating officer now owns 54,469 shares of the company’s stock, valued at approximately $14,698,459.65. This represents a 7.27% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 129,188 shares of company stock valued at $33,095,363 over the last quarter. 0.47% of the stock is owned by corporate insiders.

About JPMorgan Chase & Co.

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.