Jennison Associates LLC Increases Stock Holdings in JPMorgan Chase & Co. (NYSE:JPM)

Jennison Associates LLC lifted its stake in JPMorgan Chase & Co. (NYSE:JPM) by 23.4% in the fourth quarter, Holdings Channel.com reports. The firm owned 2,260,149 shares of the financial services provider’s stock after buying an additional 428,204 shares during the period. Jennison Associates LLC’s holdings in JPMorgan Chase & Co. were worth $384,451,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. GUNN & Co INVESTMENT MANAGEMENT INC. boosted its holdings in shares of JPMorgan Chase & Co. by 1,202.2% in the 4th quarter. GUNN & Co INVESTMENT MANAGEMENT INC. now owns 386,259 shares of the financial services provider’s stock worth $65,703,000 after purchasing an additional 356,596 shares during the period. North Star Asset Management Inc. boosted its holdings in shares of JPMorgan Chase & Co. by 0.6% in the 4th quarter. North Star Asset Management Inc. now owns 76,356 shares of the financial services provider’s stock worth $12,988,000 after purchasing an additional 453 shares during the period. MCF Advisors LLC boosted its holdings in shares of JPMorgan Chase & Co. by 1.8% in the 4th quarter. MCF Advisors LLC now owns 21,616 shares of the financial services provider’s stock worth $3,677,000 after purchasing an additional 388 shares during the period. Klingenstein Fields & Co. LP boosted its holdings in shares of JPMorgan Chase & Co. by 1.2% in the 4th quarter. Klingenstein Fields & Co. LP now owns 218,990 shares of the financial services provider’s stock worth $37,250,000 after purchasing an additional 2,600 shares during the period. Finally, Commerzbank Aktiengesellschaft FI boosted its holdings in shares of JPMorgan Chase & Co. by 2.0% in the 4th quarter. Commerzbank Aktiengesellschaft FI now owns 482,723 shares of the financial services provider’s stock worth $82,111,000 after purchasing an additional 9,614 shares during the period. Hedge funds and other institutional investors own 71.55% of the company’s stock.

Insider Transactions at JPMorgan Chase & Co.

In other news, CEO James Dimon sold 178,222 shares of the business’s stock in a transaction on Monday, April 15th. The stock was sold at an average price of $184.18, for a total value of $32,824,927.96. Following the completion of the transaction, the chief executive officer now directly owns 264,461 shares of the company’s stock, valued at approximately $48,708,426.98. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, CEO James Dimon sold 178,222 shares of the company’s stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $184.18, for a total transaction of $32,824,927.96. Following the transaction, the chief executive officer now directly owns 264,461 shares of the company’s stock, valued at approximately $48,708,426.98. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Vice Chairman Peter Scher sold 1,810 shares of the company’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $178.96, for a total value of $323,917.60. Following the transaction, the insider now directly owns 44,956 shares in the company, valued at $8,045,325.76. The disclosure for this sale can be found here. In the last three months, insiders sold 1,020,696 shares of company stock valued at $186,794,151. Corporate insiders own 0.79% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on the company. Piper Sandler dropped their target price on JPMorgan Chase & Co. from $220.00 to $215.00 and set an “overweight” rating for the company in a report on Monday, April 15th. Evercore ISI boosted their price objective on JPMorgan Chase & Co. from $188.00 to $210.00 and gave the company an “outperform” rating in a report on Thursday, April 4th. Jefferies Financial Group boosted their price objective on JPMorgan Chase & Co. from $202.00 to $228.00 and gave the company a “buy” rating in a report on Monday, April 8th. Oppenheimer dropped their price objective on JPMorgan Chase & Co. from $219.00 to $217.00 and set an “outperform” rating for the company in a report on Monday, April 15th. Finally, Wells Fargo & Company boosted their price objective on JPMorgan Chase & Co. from $200.00 to $220.00 and gave the company an “overweight” rating in a report on Wednesday, March 20th. Eight equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat, JPMorgan Chase & Co. has an average rating of “Moderate Buy” and a consensus target price of $192.05.

JPMorgan Chase & Co. Trading Up 0.1 %

JPM opened at $193.49 on Monday. The firm has a market cap of $555.72 billion, a price-to-earnings ratio of 11.68, a PEG ratio of 2.43 and a beta of 1.15. The company has a current ratio of 0.92, a quick ratio of 0.91 and a debt-to-equity ratio of 1.29. JPMorgan Chase & Co. has a 12 month low of $131.81 and a 12 month high of $200.94. The stock has a fifty day moving average price of $190.36 and a 200-day moving average price of $170.91.

JPMorgan Chase & Co. Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Friday, April 5th will be given a $1.15 dividend. This represents a $4.60 annualized dividend and a dividend yield of 2.38%. This is a positive change from JPMorgan Chase & Co.’s previous quarterly dividend of $1.05. The ex-dividend date of this dividend is Thursday, April 4th. JPMorgan Chase & Co.’s payout ratio is presently 27.78%.

About JPMorgan Chase & Co.

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.