Summit Global Investments Decreases Stake in JPMorgan Chase & Co. (NYSE:JPM)

Summit Global Investments lessened its position in JPMorgan Chase & Co. (NYSE:JPM) by 28.4% during the fourth quarter, Holdings Channel.com reports. The fund owned 22,465 shares of the financial services provider’s stock after selling 8,900 shares during the period. Summit Global Investments’ holdings in JPMorgan Chase & Co. were worth $3,821,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. International Assets Investment Management LLC bought a new position in JPMorgan Chase & Co. in the fourth quarter worth $1,017,893,000. Wellington Management Group LLP raised its holdings in shares of JPMorgan Chase & Co. by 12.2% during the third quarter. Wellington Management Group LLP now owns 42,421,711 shares of the financial services provider’s stock valued at $6,151,997,000 after purchasing an additional 4,603,090 shares during the last quarter. J.P. Morgan Private Wealth Advisors LLC purchased a new stake in JPMorgan Chase & Co. during the third quarter valued at $253,076,000. Cerity Partners LLC increased its position in shares of JPMorgan Chase & Co. by 155.2% during the 4th quarter. Cerity Partners LLC now owns 2,246,582 shares of the financial services provider’s stock valued at $382,144,000 after purchasing an additional 1,366,360 shares during the last quarter. Finally, Comerica Bank lifted its position in shares of JPMorgan Chase & Co. by 3,025.7% during the 3rd quarter. Comerica Bank now owns 1,267,455 shares of the financial services provider’s stock valued at $183,806,000 after buying an additional 1,226,905 shares in the last quarter. Institutional investors own 71.55% of the company’s stock.

Insider Buying and Selling

In related news, insider Ashley Bacon sold 5,086 shares of JPMorgan Chase & Co. stock in a transaction dated Wednesday, May 8th. The stock was sold at an average price of $193.64, for a total value of $984,853.04. Following the sale, the insider now directly owns 217,351 shares in the company, valued at approximately $42,087,847.64. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, CEO Jennifer Piepszak sold 1,648 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 transaction of $294,926.08. Following the completion of the sale, the chief executive officer now owns 32,819 shares of the company’s stock, valued at approximately $5,873,288.24. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Ashley Bacon sold 5,086 shares of JPMorgan Chase & Co. stock in a transaction that occurred on Wednesday, May 8th. The stock was sold at an average price of $193.64, for a total value of $984,853.04. Following the transaction, the insider now owns 217,351 shares in the company, valued at approximately $42,087,847.64. The disclosure for this sale can be found here. Insiders sold a total of 1,063,506 shares of company stock worth $195,024,605 in the last 90 days. Insiders own 0.79% of the company’s stock.

JPMorgan Chase & Co. Stock Performance

Shares of JPM opened at $195.63 on Thursday. The stock has a 50-day moving average of $191.74 and a two-hundred day moving average of $173.16. The stock has a market cap 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. JPMorgan Chase & Co. has a one year low of $133.13 and a one year high of $200.94. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.92 and a current ratio of 0.92.

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

JPMorgan Chase & Co. Increases Dividend

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

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the stock. Wells Fargo & Company lifted their price target on shares of JPMorgan Chase & Co. from $200.00 to $220.00 and gave the company an “overweight” rating in a report on Wednesday, March 20th. Piper Sandler lowered their price target on JPMorgan Chase & Co. from $220.00 to $215.00 and set an “overweight” rating for the company in a research report on Monday, April 15th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $185.00 target price on shares of JPMorgan Chase & Co. in a research note on Wednesday, March 20th. Keefe, Bruyette & Woods raised their price target on shares of JPMorgan Chase & Co. from $182.00 to $195.00 and gave the stock a “market perform” rating in a research note on Friday, April 5th. Finally, Evercore ISI lifted 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. Eight investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $192.05.

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.