JPMorgan Chase & Co. (NYSE:JPM) Holdings Cut by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA cut its position in shares of JPMorgan Chase & Co. (NYSE:JPM) by 12.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 21,831,090 shares of the financial services provider’s stock after selling 3,109,822 shares during the quarter. JPMorgan Chase & Co. makes up 1.7% of Massachusetts Financial Services Co. MA’s investment portfolio, making the stock its 7th largest position. Massachusetts Financial Services Co. MA owned about 0.78% of JPMorgan Chase & Co. worth $5,233,131,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the company. Norges Bank acquired a new position in JPMorgan Chase & Co. in the fourth quarter valued at $8,310,884,000. Proficio Capital Partners LLC boosted its stake in JPMorgan Chase & Co. by 34,259.3% in the 4th quarter. Proficio Capital Partners LLC now owns 3,499,499 shares of the financial services provider’s stock worth $838,865,000 after buying an additional 3,489,314 shares during the last quarter. KLP Kapitalforvaltning AS acquired a new stake in JPMorgan Chase & Co. in the 4th quarter worth about $259,038,000. Franklin Resources Inc. grew its holdings in JPMorgan Chase & Co. by 7.2% in the 3rd quarter. Franklin Resources Inc. now owns 15,073,193 shares of the financial services provider’s stock valued at $3,338,955,000 after buying an additional 1,016,289 shares during the period. Finally, Axiom Investors LLC DE acquired a new position in shares of JPMorgan Chase & Co. during the 4th quarter valued at about $222,998,000. Institutional investors and hedge funds own 71.55% of the company’s stock.

JPMorgan Chase & Co. Price Performance

Shares of NYSE:JPM opened at $210.09 on Friday. The company has a market cap of $587.43 billion, a P/E ratio of 10.64, a price-to-earnings-growth ratio of 2.83 and a beta of 1.01. The company’s fifty day moving average is $254.71 and its two-hundred day moving average is $241.29. The company has a quick ratio of 0.89, a current ratio of 0.88 and a debt-to-equity ratio of 1.24. JPMorgan Chase & Co. has a 12-month low of $179.20 and a 12-month high of $280.25.

JPMorgan Chase & Co. (NYSE:JPM) last posted its quarterly earnings results on Wednesday, January 15th. The financial services provider reported $4.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.03 by $0.78. JPMorgan Chase & Co. had a net margin of 20.96% and a return on equity of 16.99%. The business had revenue of $42.77 billion during the quarter, compared to analyst estimates of $41.90 billion. During the same period in the prior year, the firm earned $3.04 earnings per share. The firm’s revenue was up 10.9% compared to the same quarter last year. Equities analysts expect that JPMorgan Chase & Co. will post 18.1 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Friday, April 4th will be paid a dividend of $1.40 per share. The ex-dividend date is Friday, April 4th. This represents a $5.60 dividend on an annualized basis and a dividend yield of 2.67%. This is a positive change from JPMorgan Chase & Co.’s previous quarterly dividend of $1.25. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is 28.37%.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on JPM. Wolfe Research upgraded shares of JPMorgan Chase & Co. from a “peer perform” rating to an “outperform” rating and set a $269.00 target price for the company in a report on Friday, January 3rd. Truist Financial lowered their price objective on shares of JPMorgan Chase & Co. from $268.00 to $264.00 and set a “hold” rating for the company in a research note on Friday. Bank of America cut their target price on JPMorgan Chase & Co. from $285.00 to $284.00 and set a “buy” rating on the stock in a research report on Wednesday. Baird R W raised JPMorgan Chase & Co. from a “strong sell” rating to a “hold” rating in a research report on Friday, March 7th. Finally, UBS Group upped their price target on JPMorgan Chase & Co. from $276.00 to $287.00 and gave the stock a “buy” rating in a research note on Thursday, January 16th. Ten research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $254.83.

Insider Transactions at JPMorgan Chase & Co.

In other JPMorgan Chase & Co. news, CEO Troy L. Rohrbaugh sold 25,000 shares of the company’s stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $247.02, for a total value of $6,175,500.00. Following the transaction, the chief executive officer now directly owns 133,381 shares of the company’s stock, valued at $32,947,774.62. This represents a 15.78 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Jennifer Piepszak sold 4,273 shares of the firm’s 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 sale, the chief operating officer now directly owns 54,469 shares of the company’s stock, valued at $14,698,459.65. This trade represents a 7.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 76,848 shares of company stock valued at $19,987,908. 0.79% of the stock is owned by 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.