Geode Capital Management LLC Acquires 876,417 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Geode Capital Management LLC increased its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 1.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 59,220,603 shares of the financial services provider’s stock after purchasing an additional 876,417 shares during the quarter. JPMorgan Chase & Co. accounts for 1.1% of Geode Capital Management LLC’s investment portfolio, making the stock its 11th biggest position. Geode Capital Management LLC owned 2.10% of JPMorgan Chase & Co. worth $14,161,171,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the business. Principal Financial Group Inc. increased its stake in shares of JPMorgan Chase & Co. by 3.2% in the third quarter. Principal Financial Group Inc. now owns 5,824,289 shares of the financial services provider’s stock worth $1,228,110,000 after buying an additional 182,648 shares during the period. United Bank grew its holdings in JPMorgan Chase & Co. by 2.5% in the 3rd quarter. United Bank now owns 25,354 shares of the financial services provider’s stock worth $5,346,000 after acquiring an additional 614 shares during the last quarter. Jacobs Levy Equity Management Inc. grew its holdings in JPMorgan Chase & Co. by 13.8% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 42,511 shares of the financial services provider’s stock worth $8,964,000 after acquiring an additional 5,152 shares during the last quarter. Redwood Investment Management LLC increased its position in shares of JPMorgan Chase & Co. by 104.7% in the third quarter. Redwood Investment Management LLC now owns 3,969 shares of the financial services provider’s stock valued at $837,000 after acquiring an additional 2,030 shares during the period. Finally, Texas Capital Bank Wealth Management Services Inc raised its stake in shares of JPMorgan Chase & Co. by 6.6% during the third quarter. Texas Capital Bank Wealth Management Services Inc now owns 52,029 shares of the financial services provider’s stock valued at $10,971,000 after acquiring an additional 3,208 shares during the last quarter. 71.55% of the stock is owned by institutional investors.

Insider Activity at JPMorgan Chase & Co.

In other JPMorgan Chase & Co. news, COO Jennifer Piepszak sold 4,273 shares of JPMorgan Chase & Co. stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $269.85, for a total value of $1,153,069.05. Following the completion of the sale, the chief operating officer now owns 54,469 shares of the company’s stock, valued at approximately $14,698,459.65. This trade represents a 7.27 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Robin Leopold sold 1,250 shares of the company’s stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $270.09, for a total value of $337,612.50. Following the transaction, the insider now directly owns 50,377 shares in the company, valued at approximately $13,606,323.93. The trade was a 2.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 76,848 shares of company stock valued at $19,987,908 over the last 90 days. Corporate insiders own 0.79% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on JPM shares. Barclays boosted their price target on JPMorgan Chase & Co. from $304.00 to $330.00 and gave the company an “overweight” rating in a report on Thursday, January 16th. UBS Group boosted their target price on JPMorgan Chase & Co. from $276.00 to $287.00 and gave the company a “buy” rating in a research note on Thursday, January 16th. Evercore ISI dropped 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. Wolfe Research upgraded shares of JPMorgan Chase & Co. from a “peer perform” rating to an “outperform” rating and set a $269.00 price target on the stock in a report on Friday, January 3rd. Finally, Truist Financial decreased their price objective on shares of JPMorgan Chase & Co. from $268.00 to $264.00 and set a “hold” rating for the company in a report on Friday. Ten research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $254.83.

JPMorgan Chase & Co. Trading Down 8.1 %

JPMorgan Chase & Co. stock opened at $210.09 on Friday. JPMorgan Chase & Co. has a 12 month low of $179.20 and a 12 month high of $280.25. The company has a market capitalization of $587.43 billion, a price-to-earnings ratio of 10.64, a price-to-earnings-growth ratio of 2.83 and a beta of 1.01. The business’s fifty day simple moving average is $254.71 and its two-hundred day simple moving average is $241.29. 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 announced its quarterly earnings results on Wednesday, January 15th. The financial services provider reported $4.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.03 by $0.78. The company had revenue of $42.77 billion for the quarter, compared to analysts’ expectations of $41.90 billion. JPMorgan Chase & Co. had a net margin of 20.96% and a return on equity of 16.99%. JPMorgan Chase & Co.’s revenue was up 10.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.04 EPS. As a group, equities analysts predict 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 declared a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Friday, April 4th will be issued a dividend of $1.40 per share. This is a boost from JPMorgan Chase & Co.’s previous quarterly dividend of $1.25. The ex-dividend date of this dividend is Friday, April 4th. This represents a $5.60 dividend on an annualized basis and a dividend yield of 2.67%. JPMorgan Chase & Co.’s dividend payout ratio is presently 28.37%.

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.