Allspring Global Investments Holdings LLC Has $127.79 Million Position in JPMorgan Chase & Co. (NYSE:JPM)

Allspring Global Investments Holdings LLC cut its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 15.9% in the 4th quarter, HoldingsChannel.com reports. The fund owned 751,289 shares of the financial services provider’s stock after selling 141,974 shares during the period. Allspring Global Investments Holdings LLC’s holdings in JPMorgan Chase & Co. were worth $127,794,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the business. Fortem Financial Group LLC raised its position in shares of JPMorgan Chase & Co. by 7.5% in the 4th quarter. Fortem Financial Group LLC now owns 13,893 shares of the financial services provider’s stock worth $2,363,000 after acquiring an additional 973 shares in the last quarter. Trifecta Capital Advisors LLC raised its position in shares of JPMorgan Chase & Co. by 1.1% in the 4th quarter. Trifecta Capital Advisors LLC now owns 22,164 shares of the financial services provider’s stock worth $3,770,000 after acquiring an additional 237 shares in the last quarter. Narus Financial Partners LLC increased its position in JPMorgan Chase & Co. by 2.4% in the 4th quarter. Narus Financial Partners LLC now owns 5,282 shares of the financial services provider’s stock valued at $898,000 after buying an additional 125 shares in the last quarter. Perennial Advisors LLC increased its position in JPMorgan Chase & Co. by 0.8% in the 4th quarter. Perennial Advisors LLC now owns 59,804 shares of the financial services provider’s stock valued at $10,173,000 after buying an additional 490 shares in the last quarter. Finally, Altus Wealth Management LLC increased its position in JPMorgan Chase & Co. by 12.7% in the 4th quarter. Altus Wealth Management LLC now owns 3,105 shares of the financial services provider’s stock valued at $528,000 after buying an additional 349 shares in the last quarter. 71.55% of the stock is owned by institutional investors.

JPMorgan Chase & Co. Price Performance

Shares of NYSE JPM opened at $182.90 on Tuesday. JPMorgan Chase & Co. has a twelve month low of $131.81 and a twelve month high of $200.94. The stock’s 50 day moving average price is $188.28 and its 200-day moving average price is $168.17. The company has a market capitalization of $525.31 billion, a PE ratio of 11.04, a PEG ratio of 2.32 and a beta of 1.15. The company has a quick ratio of 0.91, a current ratio of 0.92 and a debt-to-equity ratio of 1.29.

JPMorgan Chase & Co. (NYSE:JPM) last announced its earnings results on Friday, January 12th. The financial services provider reported $3.04 earnings per share for the quarter, missing analysts’ consensus estimates of $3.73 by ($0.69). JPMorgan Chase & Co. had a return on equity of 17.79% and a net margin of 20.05%. The business had revenue of $38.57 billion during the quarter, compared to analysts’ expectations of $39.73 billion. During the same quarter in the previous year, the firm earned $3.57 EPS. JPMorgan Chase & Co.’s quarterly revenue was up 11.7% on a year-over-year basis. On average, equities analysts anticipate that JPMorgan Chase & Co. will post 15.78 EPS for the current year.

JPMorgan Chase & Co. Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Friday, April 5th will be paid a $1.15 dividend. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.05. The ex-dividend date of this dividend is Thursday, April 4th. This represents a $4.60 annualized dividend and a yield of 2.52%. JPMorgan Chase & Co.’s dividend payout ratio is presently 27.78%.

Insider Activity at JPMorgan Chase & Co.

In related news, Vice Chairman Peter Scher sold 1,810 shares of the company’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $178.96, for a total value of $323,917.60. Following the transaction, the insider now owns 44,956 shares in the company, valued at $8,045,325.76. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, CEO Jennifer Piepszak sold 1,648 shares of the company’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $178.96, for a total value of $294,926.08. Following the transaction, the chief executive officer now owns 32,819 shares in the company, valued at $5,873,288.24. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Vice Chairman Peter Scher sold 1,810 shares of the company’s stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $178.96, for a total value of $323,917.60. Following the completion of the transaction, the insider now owns 44,956 shares in the company, valued at approximately $8,045,325.76. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,020,696 shares of company stock worth $186,794,151. Insiders own 0.79% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently commented on the company. Barclays boosted their target price on JPMorgan Chase & Co. from $186.00 to $212.00 and gave the company an “overweight” rating in a research report on Tuesday, January 2nd. The Goldman Sachs Group reaffirmed a “buy” rating on shares of JPMorgan Chase & Co. in a research report on Thursday, February 1st. Oppenheimer decreased their target price on JPMorgan Chase & Co. from $219.00 to $217.00 and set an “outperform” rating for the company in a research report on Monday. Jefferies Financial Group boosted their target price on JPMorgan Chase & Co. from $202.00 to $228.00 and gave the company a “buy” rating in a research report on Monday, April 8th. Finally, Wells Fargo & Company boosted their target price on JPMorgan Chase & Co. from $200.00 to $220.00 and gave the company an “overweight” rating in a research report on Wednesday, March 20th. Eight research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $190.56.

JPMorgan Chase & Co. Company 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, investment and lending products, cash management, and payments and services; mortgage origination and servicing activities; residential mortgages and home equity loans; and credit cards, auto loans, leases, and travel services to consumers and small businesses through bank branches, ATMs, and digital and telephone banking.