Benin Management CORP Raises Stock Position in JPMorgan Chase & Co. (NYSE:JPM)

Benin Management CORP lifted its stake in JPMorgan Chase & Co. (NYSE:JPM) by 0.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 17,264 shares of the financial services provider’s stock after buying an additional 40 shares during the period. JPMorgan Chase & Co. makes up 1.1% of Benin Management CORP’s investment portfolio, making the stock its 15th largest holding. Benin Management CORP’s holdings in JPMorgan Chase & Co. were worth $4,138,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently bought and sold shares of JPM. Geode Capital Management LLC grew its position in shares of JPMorgan Chase & Co. by 0.9% during the third quarter. Geode Capital Management LLC now owns 58,344,186 shares of the financial services provider’s stock worth $12,258,346,000 after acquiring an additional 505,830 shares during the last quarter. Fisher Asset Management LLC grew its position in JPMorgan Chase & Co. by 31.7% during the 3rd quarter. Fisher Asset Management LLC now owns 16,784,272 shares of the financial services provider’s stock worth $3,539,132,000 after purchasing an additional 4,043,841 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in JPMorgan Chase & Co. by 2.0% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 15,084,919 shares of the financial services provider’s stock valued at $3,180,806,000 after purchasing an additional 302,592 shares during the period. Franklin Resources Inc. raised its holdings in shares of JPMorgan Chase & Co. by 7.2% in the third quarter. Franklin Resources Inc. now owns 15,073,193 shares of the financial services provider’s stock valued at $3,338,955,000 after buying an additional 1,016,289 shares during the last quarter. Finally, International Assets Investment Management LLC acquired a new stake in shares of JPMorgan Chase & Co. during the third quarter worth about $1,888,088,000. 71.55% of the stock is currently owned by institutional investors and hedge funds.

JPMorgan Chase & Co. Stock Down 0.2 %

Shares of NYSE JPM opened at $266.74 on Thursday. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.88 and a quick ratio of 0.89. The firm’s 50-day moving average is $246.56 and its two-hundred day moving average is $227.36. JPMorgan Chase & Co. has a 12-month low of $171.43 and a 12-month high of $270.68. The company has a market capitalization of $750.96 billion, a PE ratio of 13.51, a price-to-earnings-growth ratio of 2.83 and a beta of 1.11.

JPMorgan Chase & Co. (NYSE:JPM) last announced its earnings results on Wednesday, January 15th. The financial services provider reported $4.81 EPS for the quarter, beating analysts’ consensus estimates of $4.03 by $0.78. JPMorgan Chase & Co. had a return on equity of 16.99% and a net margin of 20.96%. The firm had revenue of $42.77 billion for the quarter, compared to analysts’ expectations of $41.90 billion. During the same quarter in the prior year, the firm earned $3.04 EPS. JPMorgan Chase & Co.’s quarterly revenue was up 10.9% on a year-over-year basis. Equities analysts anticipate that JPMorgan Chase & Co. will post 17.82 EPS for the current fiscal year.

JPMorgan Chase & Co. Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Monday, January 6th will be issued a $1.25 dividend. The ex-dividend date of this dividend is Monday, January 6th. This represents a $5.00 dividend on an annualized basis and a yield of 1.87%. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is 25.33%.

Insiders Place Their Bets

In other news, General Counsel Stacey Friedman sold 3,303 shares of the firm’s stock in a transaction on Thursday, January 16th. The stock was sold at an average price of $253.94, for a total transaction of $838,763.82. Following the sale, the general counsel now owns 47,620 shares in the company, valued at $12,092,622.80. This trade represents a 6.49 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.79% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts have commented on JPM shares. Truist Financial upped their price objective on JPMorgan Chase & Co. from $260.00 to $268.00 and gave the company a “hold” rating in a research note on Thursday, January 16th. Wolfe Research raised JPMorgan Chase & Co. from a “peer perform” rating to an “outperform” rating and set a $269.00 price target for the company in a report on Friday, January 3rd. Evercore ISI boosted their price objective on shares of JPMorgan Chase & Co. from $217.00 to $230.00 and gave the company an “outperform” rating in a research note on Monday, October 14th. Barclays raised their target price on shares of JPMorgan Chase & Co. from $304.00 to $330.00 and gave the stock an “overweight” rating in a research note on Thursday, January 16th. Finally, Wells Fargo & Company boosted their price target on shares of JPMorgan Chase & Co. from $240.00 to $270.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, JPMorgan Chase & Co. presently has a consensus rating of “Hold” and a consensus price target of $251.78.

JPMorgan Chase & Co. Profile

JPMorgan Chase & Co is a financial holding company, which engages in the provision of financial and investment banking services. The firm offers a range of investment banking products and services in all capital markets, including advising on corporate strategy and structure, capital raising in equity and debt markets, risk management, market making in cash securities and derivative instruments, and brokerage and research.