Independent Investors Inc. Lowers Stock Position in JPMorgan Chase & Co. (NYSE:JPM)

Independent Investors Inc. decreased its stake in JPMorgan Chase & Co. (NYSE:JPM) by 0.9% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 61,404 shares of the financial services provider’s stock after selling 547 shares during the period. JPMorgan Chase & Co. accounts for about 2.8% of Independent Investors Inc.’s holdings, making the stock its 6th biggest position. Independent Investors Inc.’s holdings in JPMorgan Chase & Co. were worth $8,559,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently made changes to their positions in JPM. Morgan Stanley increased its stake in shares of JPMorgan Chase & Co. by 5.8% in the second quarter. Morgan Stanley now owns 35,662,949 shares of the financial services provider’s stock worth $3,987,118,000 after purchasing an additional 1,952,873 shares in the last quarter. Nuveen Asset Management LLC increased its stake in shares of JPMorgan Chase & Co. by 2,432.9% in the second quarter. Nuveen Asset Management LLC now owns 23,689,599 shares of the financial services provider’s stock worth $2,648,497,000 after purchasing an additional 22,754,332 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its stake in JPMorgan Chase & Co. by 1.0% during the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 12,687,342 shares of the financial services provider’s stock valued at $1,493,173,000 after acquiring an additional 125,867 shares in the last quarter. Parametric Portfolio Associates LLC grew its stake in JPMorgan Chase & Co. by 1.2% during the third quarter. Parametric Portfolio Associates LLC now owns 11,292,144 shares of the financial services provider’s stock valued at $1,328,972,000 after acquiring an additional 136,819 shares in the last quarter. Finally, Boston Partners grew its stake in JPMorgan Chase & Co. by 301.6% during the third quarter. Boston Partners now owns 10,211,286 shares of the financial services provider’s stock valued at $1,202,693,000 after acquiring an additional 7,668,930 shares in the last quarter. 72.05% of the stock is currently owned by institutional investors and hedge funds.

In other JPMorgan Chase & Co. news, insider Nicole Giles sold 863 shares of JPMorgan Chase & Co. stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $126.73, for a total transaction of $109,367.99. Following the completion of the sale, the insider now directly owns 8,949 shares in the company, valued at $1,134,106.77. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Mellody L. Hobson bought 16,000 shares of the company’s stock in a transaction on Wednesday, October 23rd. The shares were bought at an average price of $124.65 per share, with a total value of $1,994,400.00. Following the completion of the transaction, the director now owns 8,186 shares of the company’s stock, valued at $1,020,384.90. The disclosure for this purchase can be found here. Over the last quarter, insiders have sold 121,172 shares of company stock valued at $16,158,032. 0.76% of the stock is currently owned by company insiders.

Several equities analysts recently commented on the stock. Citigroup boosted their price objective on shares of JPMorgan Chase & Co. from $116.00 to $140.00 and gave the company a “neutral” rating in a research note on Monday, December 16th. ValuEngine cut shares of JPMorgan Chase & Co. from a “hold” rating to a “sell” rating in a research note on Tuesday, January 7th. Edward Jones reaffirmed a “buy” rating on shares of JPMorgan Chase & Co. in a research note on Wednesday. Royal Bank of Canada reaffirmed a “buy” rating and set a $145.00 price objective on shares of JPMorgan Chase & Co. in a research note on Wednesday, January 8th. Finally, Piper Sandler boosted their price objective on shares of JPMorgan Chase & Co. from $141.00 to $149.00 and gave the company a “neutral” rating in a research note on Wednesday. Two analysts have rated the stock with a sell rating, fourteen have given a hold rating and seven have assigned a buy rating to the company’s stock. JPMorgan Chase & Co. presently has an average rating of “Hold” and a consensus price target of $135.29.

Shares of JPMorgan Chase & Co. stock opened at $136.72 on Thursday. JPMorgan Chase & Co. has a 1 year low of $98.09 and a 1 year high of $141.10. The firm has a market cap of $435.34 billion, a PE ratio of 13.05, a PEG ratio of 1.89 and a beta of 1.24. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.92 and a quick ratio of 0.93. The company has a 50 day simple moving average of $136.35 and a two-hundred day simple moving average of $121.98.

JPMorgan Chase & Co. (NYSE:JPM) last announced its earnings results on Tuesday, January 14th. The financial services provider reported $2.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.32 by $0.25. JPMorgan Chase & Co. had a net margin of 25.49% and a return on equity of 15.19%. The business had revenue of $28.30 billion during the quarter, compared to analyst estimates of $27.69 billion. During the same period in the previous year, the business posted $1.98 earnings per share. JPMorgan Chase & Co.’s revenue for the quarter was up 8.4% on a year-over-year basis. As a group, research analysts anticipate that JPMorgan Chase & Co. will post 10.5 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Monday, January 6th will be given a dividend of $0.90 per share. The ex-dividend date of this dividend is Friday, January 3rd. This represents a $3.60 annualized dividend and a yield of 2.63%. JPMorgan Chase & Co.’s payout ratio is presently 34.35%.

JPMorgan Chase & Co. Profile

JPMorgan Chase & Co operates as a financial services company worldwide. It operates through four segments: Consumer & Community Banking (CCB), Corporate & Investment Bank (CIB), Commercial Banking (CB), and Asset & Wealth Management (AWM). The CCB segment offers deposit and investment products and services to consumers; lending, deposit, and cash management and payment solutions to small businesses; mortgage origination and servicing activities; residential mortgages and home equity loans; and credit card, payment processing, auto loan, and leasing services.

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Institutional Ownership by Quarter for JPMorgan Chase & Co. (NYSE:JPM)

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