Allstate Corp Has $20.29 Million Stock Position in JPMorgan Chase & Co. (NYSE:JPM)

Allstate Corp lifted its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 3,259.6% during the 4th quarter, HoldingsChannel reports. The fund owned 84,629 shares of the financial services provider’s stock after acquiring an additional 82,110 shares during the quarter. JPMorgan Chase & Co. accounts for approximately 0.6% of Allstate Corp’s holdings, making the stock its 21st largest position. Allstate Corp’s holdings in JPMorgan Chase & Co. were worth $20,286,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. Geode Capital Management LLC grew its position in shares of JPMorgan Chase & Co. by 0.9% during the 3rd quarter. Geode Capital Management LLC now owns 58,344,186 shares of the financial services provider’s stock worth $12,258,346,000 after purchasing an additional 505,830 shares in the last quarter. Norges Bank acquired a new stake in JPMorgan Chase & Co. during the fourth quarter worth approximately $8,310,884,000. Charles Schwab Investment Management Inc. increased its stake in JPMorgan Chase & Co. by 0.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 20,103,063 shares of the financial services provider’s stock worth $4,818,905,000 after acquiring an additional 71,122 shares during the period. Fisher Asset Management LLC lifted its position in shares of JPMorgan Chase & Co. by 3.7% during the 4th quarter. Fisher Asset Management LLC now owns 17,401,436 shares of the financial services provider’s stock valued at $4,171,298,000 after acquiring an additional 617,164 shares during the period. Finally, Franklin Resources Inc. raised its stake in 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 purchasing an additional 1,016,289 shares in the last quarter. 71.55% of the stock is currently owned by institutional investors and hedge funds.

JPMorgan Chase & Co. Stock Up 1.0 %

JPMorgan Chase & Co. stock opened at $246.10 on Thursday. The firm has a market capitalization of $688.12 billion, a price-to-earnings ratio of 12.47, a price-to-earnings-growth ratio of 2.83 and a beta of 1.10. The firm’s fifty day moving average price is $256.54 and its two-hundred day moving average price is $241.36. JPMorgan Chase & Co. has a 1-year low of $179.20 and a 1-year high of $280.25. The company has a current ratio of 0.88, a quick ratio of 0.89 and a debt-to-equity ratio of 1.24.

JPMorgan Chase & Co. (NYSE:JPM) last released its quarterly earnings results on Wednesday, January 15th. The financial services provider reported $4.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.03 by $0.78. The business had revenue of $42.77 billion during the quarter, compared to the consensus estimate of $41.90 billion. JPMorgan Chase & Co. had a return on equity of 16.99% and a net margin of 20.96%. The company’s quarterly revenue was up 10.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.04 EPS. On average, equities research analysts predict that JPMorgan Chase & Co. will post 18.1 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Friday, April 4th will be given a $1.40 dividend. This is a positive change from JPMorgan Chase & Co.’s previous quarterly dividend of $1.25. This represents a $5.60 dividend on an annualized basis and a yield of 2.28%. The ex-dividend date is Friday, April 4th. JPMorgan Chase & Co.’s dividend payout ratio is presently 28.37%.

Analyst Upgrades and Downgrades

Several equities analysts have commented on JPM shares. Barclays raised their target price on shares of JPMorgan Chase & Co. from $304.00 to $330.00 and gave the company an “overweight” rating in a report on Thursday, January 16th. Truist Financial raised their price target on shares of JPMorgan Chase & Co. from $260.00 to $268.00 and gave the company a “hold” rating in a research note on Thursday, January 16th. Robert W. Baird upgraded shares of JPMorgan Chase & Co. from an “underperform” rating to a “neutral” rating and upped their price objective for the stock from $215.00 to $220.00 in a research report on Friday, March 7th. Wolfe Research raised JPMorgan Chase & Co. from a “peer perform” rating to an “outperform” rating and set a $269.00 price target on the stock in a research note on Friday, January 3rd. Finally, Bank of America lowered their price objective on JPMorgan Chase & Co. from $285.00 to $284.00 and set a “buy” rating for the company in a research report on Wednesday. Ten investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, JPMorgan Chase & Co. has a consensus rating of “Moderate Buy” and an average target price of $255.06.

Insider Activity at JPMorgan Chase & Co.

In other news, CEO Troy L. Rohrbaugh sold 37,500 shares of the stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $269.84, for a total value of $10,119,000.00. Following the completion of the sale, the chief executive officer now owns 158,381 shares in the company, valued at $42,737,529.04. This represents a 19.14 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Robin Leopold sold 1,250 shares of the business’s stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $270.09, for a total transaction of $337,612.50. Following the transaction, the insider now owns 50,377 shares in the company, valued at approximately $13,606,323.93. This trade represents a 2.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 76,848 shares of company stock valued at $19,987,908. 0.79% of the stock is owned by insiders.

About JPMorgan Chase & Co.

JPMorgan Chase & Co is a financial holding company, which engages in the provision of financial and investment banking services. It focuses on investment banking, financial services for consumers and small businesses, commercial banking, financial transaction processing, and asset management. It operates through the following segments: Consumer and Community Banking (CCB), Commercial and Investment Bank (CIB), Asset and Wealth Management (AWM), and Corporate.