JPMorgan Chase & Co. (NYSE:JPM) Shares Sold by Corebridge Financial Inc.

Corebridge Financial Inc. reduced its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 1.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 673,774 shares of the financial services provider’s stock after selling 11,465 shares during the period. JPMorgan Chase & Co. comprises 0.9% of Corebridge Financial Inc.’s holdings, making the stock its 12th largest position. Corebridge Financial Inc.’s holdings in JPMorgan Chase & Co. were worth $161,510,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. United Services Automobile Association lifted its position in shares of JPMorgan Chase & Co. by 3.2% during the 4th quarter. United Services Automobile Association now owns 266,087 shares of the financial services provider’s stock valued at $63,784,000 after buying an additional 8,353 shares in the last quarter. Clune & Associates LTD. acquired a new position in JPMorgan Chase & Co. during the fourth quarter worth $641,000. Crowley Wealth Management Inc. purchased a new position in JPMorgan Chase & Co. during the fourth quarter valued at $4,264,000. Haverford Financial Services Inc. grew its position in shares of JPMorgan Chase & Co. by 0.3% in the fourth quarter. Haverford Financial Services Inc. now owns 67,079 shares of the financial services provider’s stock valued at $16,080,000 after purchasing an additional 233 shares during the period. Finally, Napatree Capital LLC increased its stake in shares of JPMorgan Chase & Co. by 5.2% during the fourth quarter. Napatree Capital LLC now owns 6,267 shares of the financial services provider’s stock worth $1,502,000 after purchasing an additional 308 shares in the last quarter. 71.55% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on JPM shares. Robert W. Baird upgraded 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 report on Friday, March 7th. Keefe, Bruyette & Woods boosted their price target on JPMorgan Chase & Co. from $257.00 to $264.00 and gave the stock a “market perform” rating in a research report on Thursday, January 16th. Baird R W upgraded JPMorgan Chase & Co. from a “strong sell” rating to a “hold” rating in a report on Friday, March 7th. Barclays upped their target price on shares of JPMorgan Chase & Co. from $304.00 to $330.00 and gave the stock an “overweight” rating in a report on Thursday, January 16th. Finally, Bank of America increased 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. Ten analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $252.89.

JPMorgan Chase & Co. Trading Down 2.1 %

NYSE JPM 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 PEG ratio of 2.83 and a beta of 1.10. The firm’s 50-day moving average is $257.55 and its two-hundred day moving average is $240.54. 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 issued its quarterly earnings data on Wednesday, January 15th. The financial services provider reported $4.81 EPS for the quarter, topping the consensus estimate 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 firm had revenue of $42.77 billion for the quarter, compared to analyst estimates of $41.90 billion. During the same period in the prior year, the business posted $3.04 EPS. The business’s revenue for the quarter was up 10.9% compared to the same quarter last year. On average, sell-side analysts anticipate that JPMorgan Chase & Co. will post 18.1 earnings per share for the current year.

JPMorgan Chase & Co. Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Friday, April 4th will be paid a $1.40 dividend. The ex-dividend date of this dividend is Friday, April 4th. This is a boost from JPMorgan Chase & Co.’s previous quarterly dividend of $1.25. This represents a $5.60 dividend on an annualized basis and a dividend yield of 2.30%. JPMorgan Chase & Co.’s payout ratio is presently 28.37%.

Insider Activity at JPMorgan Chase & Co.

In other JPMorgan Chase & Co. news, CEO Troy L. Rohrbaugh sold 37,500 shares of the business’s stock in a transaction dated 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 sale, the chief executive officer now directly 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Jennifer Piepszak sold 4,273 shares of the firm’s stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $269.85, for a total transaction 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 approximately $14,698,459.65. The trade was a 7.27 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 76,848 shares of company stock worth $19,987,908. 0.79% of the stock is currently owned by company insiders.

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.