JPMorgan Chase & Co. (NYSE:JPM) is SouthState Corp’s 7th Largest Position

SouthState Corp reduced its stake in JPMorgan Chase & Co. (NYSE:JPM) by 0.5% during the fourth quarter, Holdings Channel.com reports. The firm owned 143,419 shares of the financial services provider’s stock after selling 652 shares during the period. JPMorgan Chase & Co. accounts for about 2.1% of SouthState Corp’s portfolio, making the stock its 7th largest position. SouthState Corp’s holdings in JPMorgan Chase & Co. were worth $24,396,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of JPM. Stone House Investment Management LLC lifted its holdings in JPMorgan Chase & Co. by 132.8% in the 4th quarter. Stone House Investment Management LLC now owns 156 shares of the financial services provider’s stock worth $27,000 after buying an additional 89 shares during the period. Macroview Investment Management LLC lifted its stake in JPMorgan Chase & Co. by 7,833.3% in the third quarter. Macroview Investment Management LLC now owns 238 shares of the financial services provider’s stock worth $34,000 after acquiring an additional 235 shares during the period. Briaud Financial Planning Inc bought a new stake in JPMorgan Chase & Co. in the third quarter valued at $40,000. Stuart Chaussee & Associates Inc. purchased a new position in JPMorgan Chase & Co. during the 4th quarter valued at $40,000. Finally, Rakuten Securities Inc. bought a new position in JPMorgan Chase & Co. in the 4th quarter worth $44,000. Institutional investors own 71.55% of the company’s stock.

JPMorgan Chase & Co. Stock Up 2.0 %

JPM stock opened at $195.63 on Thursday. The stock has a market capitalization of $561.78 billion, a P/E ratio of 11.81, a P/E/G ratio of 2.38 and a beta of 1.13. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.92 and a quick ratio of 0.92. JPMorgan Chase & Co. has a 1-year low of $133.13 and a 1-year high of $200.94. The business has a fifty day moving average price of $191.74 and a 200-day moving average price of $173.16.

JPMorgan Chase & Co. (NYSE:JPM) last issued its earnings results on Friday, April 12th. The financial services provider reported $4.63 earnings per share for the quarter, topping analysts’ consensus estimates of $4.18 by $0.45. The business had revenue of $41.93 billion during the quarter, compared to analyst estimates of $40.90 billion. JPMorgan Chase & Co. had a return on equity of 17.79% and a net margin of 20.05%. Equities analysts forecast that JPMorgan Chase & Co. will post 15.98 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 30th. Investors of record on Friday, April 5th were issued a $1.15 dividend. The ex-dividend date was Thursday, April 4th. This represents a $4.60 annualized dividend and a yield of 2.35%. This is a boost from JPMorgan Chase & Co.’s previous quarterly dividend of $1.05. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is currently 27.78%.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the stock. BMO Capital Markets cut their target price on shares of JPMorgan Chase & Co. from $196.00 to $195.00 and set a “market perform” rating on the stock in a research note on Monday, April 15th. Royal Bank of Canada reissued an “outperform” rating and issued a $185.00 target price on shares of JPMorgan Chase & Co. in a research report on Wednesday, March 20th. Oppenheimer dropped their price target on JPMorgan Chase & Co. from $219.00 to $217.00 and set an “outperform” rating on the stock in a research report on Monday, April 15th. Evercore ISI increased their price objective on JPMorgan Chase & Co. from $188.00 to $210.00 and gave the stock an “outperform” rating in a report on Thursday, April 4th. Finally, Keefe, Bruyette & Woods raised their price objective on JPMorgan Chase & Co. from $182.00 to $195.00 and gave the company a “market perform” rating in a research report on Friday, April 5th. Eight investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $192.05.

Insiders Place Their Bets

In other news, CEO Mary E. Erdoes sold 15,895 shares of the stock in a transaction on Wednesday, May 8th. The stock was sold at an average price of $193.66, for a total transaction of $3,078,225.70. Following the transaction, the chief executive officer now directly owns 585,898 shares of the company’s stock, valued at approximately $113,465,006.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, insider Lori A. Beer sold 3,920 shares of the business’s stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of $195.36, for a total transaction of $765,811.20. Following the completion of the sale, the insider now directly owns 64,783 shares in the company, valued at $12,656,006.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Mary E. Erdoes sold 15,895 shares of the stock in a transaction that occurred on Wednesday, May 8th. The stock was sold at an average price of $193.66, for a total transaction of $3,078,225.70. Following the completion of the transaction, the chief executive officer now owns 585,898 shares in the company, valued at $113,465,006.68. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,063,506 shares of company stock valued at $195,024,605. Company insiders own 0.79% of the company’s stock.

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.