Arrowstreet Capital Limited Partnership Has $118.92 Million Holdings in JPMorgan Chase & Co. (NYSE:JPM)

Arrowstreet Capital Limited Partnership decreased its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 92.4% in the 4th quarter, Holdings Channel reports. The fund owned 496,090 shares of the financial services provider’s stock after selling 6,034,965 shares during the period. Arrowstreet Capital Limited Partnership’s holdings in JPMorgan Chase & Co. were worth $118,918,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. Norges Bank acquired a new stake in shares of JPMorgan Chase & Co. during the 4th quarter valued at $8,310,884,000. Proficio Capital Partners LLC raised its position in JPMorgan Chase & Co. by 34,259.3% in the fourth quarter. Proficio Capital Partners LLC now owns 3,499,499 shares of the financial services provider’s stock valued at $838,865,000 after purchasing an additional 3,489,314 shares during the last quarter. KLP Kapitalforvaltning AS bought a new position in JPMorgan Chase & Co. in the fourth quarter valued at about $259,038,000. Franklin Resources Inc. grew its holdings in shares of JPMorgan Chase & Co. by 7.2% during the third quarter. Franklin Resources Inc. now owns 15,073,193 shares of the financial services provider’s stock worth $3,338,955,000 after purchasing an additional 1,016,289 shares during the last quarter. Finally, DJE Kapital AG acquired a new position in shares of JPMorgan Chase & Co. in the fourth quarter valued at approximately $179,870,000. Institutional investors own 71.55% of the company’s stock.

JPMorgan Chase & Co. Stock Up 1.0 %

JPM stock opened at $246.10 on Thursday. The stock’s 50 day simple moving average is $256.54 and its 200 day simple moving average is $241.36. The company has a market cap of $688.12 billion, a P/E ratio of 12.47, a price-to-earnings-growth ratio of 2.83 and a beta of 1.10. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.89 and a current ratio of 0.88. JPMorgan Chase & Co. has a fifty-two week low of $179.20 and a fifty-two week high of $280.25.

JPMorgan Chase & Co. (NYSE:JPM) last issued its earnings results on Wednesday, January 15th. The financial services provider reported $4.81 earnings per share for the quarter, topping 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 company had revenue of $42.77 billion for the quarter, compared to analyst estimates of $41.90 billion. During the same period in the prior year, the firm earned $3.04 earnings per share. JPMorgan Chase & Co.’s revenue for the quarter was up 10.9% on a year-over-year basis. On average, research analysts expect that JPMorgan Chase & Co. will post 18.1 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

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

Insider Activity

In other news, General Counsel Stacey Friedman sold 3,303 shares of the stock in a transaction that occurred on Thursday, January 16th. The stock was sold at an average price of $253.94, for a total value of $838,763.82. Following the completion of the sale, the general counsel now directly owns 47,620 shares of the company’s stock, valued at $12,092,622.80. This represents a 6.49 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Troy L. Rohrbaugh sold 37,500 shares of JPMorgan Chase & Co. stock in a transaction that occurred on 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 transaction, the chief executive officer now directly owns 158,381 shares in the company, valued at approximately $42,737,529.04. The trade was a 19.14 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 76,848 shares of company stock worth $19,987,908 over the last three months. 0.79% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the stock. Baird R W raised shares of JPMorgan Chase & Co. from a “strong sell” rating to a “hold” rating in a report on Friday, March 7th. Truist Financial increased their price objective on JPMorgan Chase & Co. from $260.00 to $268.00 and gave the company a “hold” rating in a report on Thursday, January 16th. Barclays lifted their target price on JPMorgan Chase & Co. from $304.00 to $330.00 and gave the stock an “overweight” rating in a report on Thursday, January 16th. Evercore ISI decreased their price target on JPMorgan Chase & Co. from $273.00 to $265.00 and set an “outperform” rating for the company in a research note on Tuesday. Finally, UBS Group lifted their price objective on JPMorgan Chase & Co. from $276.00 to $287.00 and gave the stock a “buy” rating in a research note on Thursday, January 16th. Ten analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $255.06.

JPMorgan Chase & Co. Profile

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.