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

Allstate Corp increased its position in shares of JPMorgan Chase & Co. (NYSE:JPM) by 3,259.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 84,629 shares of the financial services provider’s stock after acquiring an additional 82,110 shares during the quarter. JPMorgan Chase & Co. comprises about 0.6% of Allstate Corp’s investment portfolio, 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.

Other large investors have also made changes to their positions in the company. Geode Capital Management LLC raised 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 valued at $12,258,346,000 after acquiring an additional 505,830 shares during the last quarter. Norges Bank bought a new stake in JPMorgan Chase & Co. in the fourth quarter valued at about $8,310,884,000. Charles Schwab Investment Management Inc. lifted its stake in JPMorgan Chase & Co. by 0.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 20,103,063 shares of the financial services provider’s stock valued at $4,818,905,000 after buying an additional 71,122 shares during the period. Fisher Asset Management LLC boosted its holdings in JPMorgan Chase & Co. by 3.7% during the fourth quarter. Fisher Asset Management LLC now owns 17,401,436 shares of the financial services provider’s stock worth $4,171,298,000 after buying an additional 617,164 shares during the last quarter. Finally, Franklin Resources Inc. grew its position in shares of JPMorgan Chase & Co. by 7.2% during the 3rd quarter. Franklin Resources Inc. now owns 15,073,193 shares of the financial services provider’s stock worth $3,338,955,000 after buying an additional 1,016,289 shares during the period. Institutional investors and hedge funds own 71.55% of the company’s stock.

Insider Activity

In related news, General Counsel Stacey Friedman sold 3,303 shares of the stock in a transaction 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 sale, the general counsel now owns 47,620 shares in the company, valued at approximately $12,092,622.80. This represents a 6.49 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Troy L. Rohrbaugh sold 37,500 shares of JPMorgan Chase & Co. stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $269.84, for a total transaction of $10,119,000.00. Following the transaction, the chief executive officer now directly owns 158,381 shares of the company’s stock, valued at approximately $42,737,529.04. This trade represents a 19.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 76,848 shares of company stock valued at $19,987,908. 0.79% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Robert W. Baird upgraded shares of JPMorgan Chase & Co. from an “underperform” rating to a “neutral” rating and increased their price target for the company from $215.00 to $220.00 in a research report on Friday, March 7th. UBS Group lifted their price target on shares of JPMorgan Chase & Co. from $276.00 to $287.00 and gave the stock a “buy” rating in a research report on Thursday, January 16th. Barclays upped their price objective on shares of JPMorgan Chase & Co. from $304.00 to $330.00 and gave the company an “overweight” rating in a research report on Thursday, January 16th. Truist Financial lifted their target price on JPMorgan Chase & Co. from $260.00 to $268.00 and gave the stock a “hold” rating in a report on Thursday, January 16th. Finally, Baird R W upgraded JPMorgan Chase & Co. from a “strong sell” rating to a “hold” rating in a report on Friday, March 7th. Ten analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $255.06.

JPMorgan Chase & Co. Stock Performance

JPM opened at $246.10 on Thursday. The business’s 50-day simple moving average is $256.54 and its 200 day simple moving average is $241.36. JPMorgan Chase & Co. has a 52-week low of $179.20 and a 52-week high of $280.25. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.89 and a current ratio of 0.88. The firm has a market capitalization of $688.12 billion, a PE ratio of 12.47, a PEG ratio of 2.83 and a beta of 1.10.

JPMorgan Chase & Co. (NYSE:JPM) last released its quarterly earnings data on Wednesday, January 15th. The financial services provider reported $4.81 EPS for the quarter, beating the consensus estimate of $4.03 by $0.78. The company 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 firm’s revenue for the quarter was up 10.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.04 EPS. As a group, sell-side analysts expect that JPMorgan Chase & Co. will post 18.1 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

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

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.