Jericho Financial LLP Acquires Shares of 26,877 JPMorgan Chase & Co. (NYSE:JPM)

Jericho Financial LLP acquired a new stake in JPMorgan Chase & Co. (NYSE:JPM) in the fourth quarter, Holdings Channel.com reports. The institutional investor acquired 26,877 shares of the financial services provider’s stock, valued at approximately $6,443,000. JPMorgan Chase & Co. accounts for 4.7% of Jericho Financial LLP’s investment portfolio, making the stock its 8th largest position.

A number of other institutional investors have also recently bought and sold shares of the business. AMF Tjanstepension AB increased its holdings in JPMorgan Chase & Co. by 17.2% in the 3rd quarter. AMF Tjanstepension AB now owns 473,785 shares of the financial services provider’s stock worth $99,972,000 after acquiring an additional 69,451 shares during the last quarter. Alpha Financial Partners LLC increased its holdings in JPMorgan Chase & Co. by 11.5% in the 3rd quarter. Alpha Financial Partners LLC now owns 3,329 shares of the financial services provider’s stock worth $702,000 after acquiring an additional 343 shares during the last quarter. Wedge Capital Management L L P NC increased its holdings in JPMorgan Chase & Co. by 1.4% in the 3rd quarter. Wedge Capital Management L L P NC now owns 4,384 shares of the financial services provider’s stock worth $924,000 after acquiring an additional 61 shares during the last quarter. Creative Planning increased its holdings in JPMorgan Chase & Co. by 3.1% in the 3rd quarter. Creative Planning now owns 1,139,115 shares of the financial services provider’s stock worth $240,194,000 after acquiring an additional 34,746 shares during the last quarter. Finally, von Borstel & Associates Inc. purchased a new stake in JPMorgan Chase & Co. in the 3rd quarter worth about $766,000. Institutional investors own 71.55% of the company’s stock.

JPMorgan Chase & Co. Stock Performance

NYSE:JPM opened at $275.41 on Thursday. The business has a 50 day moving average of $251.18 and a 200 day moving average of $231.55. The company has a market capitalization of $775.37 billion, a price-to-earnings ratio of 13.95, a PEG ratio of 2.94 and a beta of 1.12. JPMorgan Chase & Co. has a 1-year low of $172.62 and a 1-year high of $278.55. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.88 and a quick ratio of 0.89.

JPMorgan Chase & Co. (NYSE:JPM) last announced its quarterly earnings results on Wednesday, January 15th. The financial services provider reported $4.81 EPS for the quarter, topping analysts’ consensus estimates of $4.03 by $0.78. The business had revenue of $42.77 billion for the quarter, compared to analysts’ expectations of $41.90 billion. JPMorgan Chase & Co. had a return on equity of 16.99% and a net margin of 20.96%. The business’s quarterly revenue was up 10.9% on a year-over-year basis. During the same period in the previous year, the firm earned $3.04 EPS. On average, sell-side analysts predict that JPMorgan Chase & Co. will post 18.05 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Monday, January 6th were paid a $1.25 dividend. The ex-dividend date of this dividend was Monday, January 6th. This represents a $5.00 dividend on an annualized basis and a yield of 1.82%. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is currently 25.33%.

Insiders Place Their Bets

In other news, General Counsel Stacey Friedman sold 3,303 shares of the business’s stock in a transaction that occurred 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 transaction, the general counsel now directly owns 47,620 shares of the company’s stock, valued at approximately $12,092,622.80. The trade was a 6.49 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.79% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. Citigroup lifted their price objective on JPMorgan Chase & Co. from $215.00 to $250.00 and gave the stock a “neutral” rating in a report on Tuesday, November 19th. Truist Financial raised their target price on JPMorgan Chase & Co. from $260.00 to $268.00 and gave the stock a “hold” rating in a research note on Thursday, January 16th. Barclays raised their target price on JPMorgan Chase & Co. from $304.00 to $330.00 and gave the stock an “overweight” rating in a research note on Thursday, January 16th. Wolfe Research upgraded JPMorgan Chase & Co. from a “peer perform” rating to an “outperform” rating and set a $269.00 target price for the company in a research note on Friday, January 3rd. Finally, Baird R W downgraded JPMorgan Chase & Co. from a “hold” rating to a “strong sell” rating in a research note on Thursday, November 7th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, JPMorgan Chase & Co. currently has an average rating of “Hold” and an average target price of $251.78.

About JPMorgan Chase & Co.

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.