Prudential Financial Inc. Has $690.49 Million Stock Position in JPMorgan Chase & Co. (NYSE:JPM)

Prudential Financial Inc. lessened its position in shares of JPMorgan Chase & Co. (NYSE:JPM) by 9.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,880,517 shares of the financial services provider’s stock after selling 298,676 shares during the quarter. JPMorgan Chase & Co. comprises about 0.9% of Prudential Financial Inc.’s investment portfolio, making the stock its 15th largest position. Prudential Financial Inc. owned approximately 0.10% of JPMorgan Chase & Co. worth $690,489,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in JPM. Lynx Investment Advisory raised its holdings in JPMorgan Chase & Co. by 5.2% during the 4th quarter. Lynx Investment Advisory now owns 2,646 shares of the financial services provider’s stock worth $634,000 after purchasing an additional 130 shares during the last quarter. Hirtle Callaghan & Co LLC acquired a new stake in shares of JPMorgan Chase & Co. during the 4th quarter worth approximately $235,000. TAGStone Capital Inc. raised its stake in shares of JPMorgan Chase & Co. by 4.6% during the fourth quarter. TAGStone Capital Inc. now owns 2,772 shares of the financial services provider’s stock worth $664,000 after buying an additional 123 shares during the last quarter. Jackson Thornton Wealth Management LLC lifted its holdings in JPMorgan Chase & Co. by 37.8% in the fourth quarter. Jackson Thornton Wealth Management LLC now owns 2,594 shares of the financial services provider’s stock valued at $622,000 after buying an additional 712 shares during the period. Finally, United Services Automobile Association boosted its stake in JPMorgan Chase & Co. by 3.2% in the fourth quarter. United Services Automobile Association now owns 266,087 shares of the financial services provider’s stock valued at $63,784,000 after acquiring an additional 8,353 shares during the last quarter. Institutional investors own 71.55% of the company’s stock.

Analyst Ratings Changes

Several brokerages have commented on JPM. Bank of America upped their target price on shares of JPMorgan Chase & Co. from $260.00 to $280.00 and gave the company a “buy” rating in a research report on Tuesday, January 7th. Barclays upped their price objective on JPMorgan Chase & Co. from $304.00 to $330.00 and gave the company an “overweight” rating in a report on Thursday, January 16th. Piper Sandler boosted their target price 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. Keefe, Bruyette & Woods upped their price target on JPMorgan Chase & Co. from $257.00 to $264.00 and gave the company a “market perform” rating in a research note on Thursday, January 16th. Finally, Robert W. Baird raised shares of JPMorgan Chase & Co. from an “underperform” rating to a “neutral” rating and lifted their price objective for the stock from $215.00 to $220.00 in a research note on Friday, March 7th. Ten research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, JPMorgan Chase & Co. presently has an average rating of “Moderate Buy” and a consensus target price of $252.89.

Insider Buying and Selling at JPMorgan Chase & Co.

In other JPMorgan Chase & Co. news, General Counsel Stacey Friedman sold 3,303 shares of the firm’s stock in a transaction that occurred on Thursday, January 16th. The stock was sold at an average price of $253.94, for a total value of $838,763.82. Following the completion of the transaction, the general counsel now directly owns 47,620 shares in the company, valued at $12,092,622.80. This trade represents a 6.49 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Jennifer Piepszak sold 4,273 shares of the business’s stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $269.85, for a total value of $1,153,069.05. Following the transaction, the chief operating officer now directly owns 54,469 shares in the company, valued at $14,698,459.65. This trade represents a 7.27 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 76,848 shares of company stock worth $19,987,908. Insiders own 0.79% of the company’s stock.

JPMorgan Chase & Co. Stock Down 2.1 %

JPM stock opened at $242.97 on Friday. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.88 and a quick ratio of 0.89. The stock has a market capitalization 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 fifty-two week low of $179.20 and a fifty-two week high of $280.25. The business has a 50-day moving average of $257.55 and a 200-day moving average of $240.54.

JPMorgan Chase & Co. (NYSE:JPM) last released its quarterly earnings results on Wednesday, January 15th. The financial services provider reported $4.81 earnings per share for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $42.77 billion during the quarter, compared to the consensus estimate of $41.90 billion. During the same quarter in the prior year, the firm posted $3.04 EPS. The business’s revenue was up 10.9% on a year-over-year basis. On average, sell-side analysts anticipate that JPMorgan Chase & Co. will post 18.1 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Friday, April 4th will be given a $1.40 dividend. The ex-dividend date is Friday, April 4th. This represents a $5.60 dividend on an annualized basis and a yield of 2.30%. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.25. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is 28.37%.

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.