Associated Banc Corp Sells 10,977 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Associated Banc Corp decreased its stake in JPMorgan Chase & Co. (NYSE:JPM) by 2.8% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 384,909 shares of the financial services provider’s stock after selling 10,977 shares during the period. JPMorgan Chase & Co. accounts for approximately 2.8% of Associated Banc Corp’s holdings, making the stock its 6th largest position. Associated Banc Corp’s holdings in JPMorgan Chase & Co. were worth $92,267,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of JPM. Fisher Asset Management LLC boosted its stake in JPMorgan Chase & Co. by 31.7% in the 3rd quarter. Fisher Asset Management LLC now owns 16,784,272 shares of the financial services provider’s stock valued at $3,539,132,000 after buying an additional 4,043,841 shares in the last quarter. Proficio Capital Partners LLC raised its position in JPMorgan Chase & Co. by 34,259.3% in the 4th 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. Healthcare of Ontario Pension Plan Trust Fund raised its position in JPMorgan Chase & Co. by 137.8% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 4,376,176 shares of the financial services provider’s stock valued at $922,760,000 after purchasing an additional 2,535,590 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec raised its position in JPMorgan Chase & Co. by 93.6% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 2,692,159 shares of the financial services provider’s stock valued at $567,669,000 after purchasing an additional 1,301,764 shares during the last quarter. Finally, Franklin Resources Inc. raised its position in JPMorgan Chase & Co. by 7.2% in the 3rd 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 during the last quarter. Institutional investors and hedge funds own 71.55% of the company’s stock.

JPMorgan Chase & Co. Stock Up 1.0 %

NYSE:JPM opened at $241.49 on Friday. 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. The stock has a market cap of $675.24 billion, a price-to-earnings ratio of 12.23, a PEG ratio of 2.83 and a beta of 1.10. The stock has a 50-day moving average price of $257.86 and a two-hundred day moving average price of $239.35.

JPMorgan Chase & Co. (NYSE:JPM) last posted its 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. JPMorgan Chase & Co. had a return on equity of 16.99% and a net margin of 20.96%. The firm had revenue of $42.77 billion during the quarter, compared to analysts’ expectations of $41.90 billion. During the same period in the previous year, the firm earned $3.04 earnings per share. The company’s revenue was up 10.9% on a year-over-year basis. As a group, equities analysts expect that JPMorgan Chase & Co. will post 18.1 earnings per share for the current year.

JPMorgan Chase & Co. Increases Dividend

The firm also recently announced 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 yield of 2.32%. 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. JPMorgan Chase & Co.’s payout ratio is presently 28.37%.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the company. Wolfe Research upgraded JPMorgan Chase & Co. from a “peer perform” rating to an “outperform” rating and set a $269.00 price objective for the company in a research report on Friday, January 3rd. Keefe, Bruyette & Woods lifted their price objective on JPMorgan Chase & Co. from $257.00 to $264.00 and gave the company a “market perform” rating in a research report on Thursday, January 16th. Barclays lifted their price objective on JPMorgan Chase & Co. from $304.00 to $330.00 and gave the company an “overweight” rating in a research report on Thursday, January 16th. Piper Sandler boosted their target price on JPMorgan Chase & Co. from $240.00 to $275.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 3rd. Finally, Truist Financial boosted their target price on JPMorgan Chase & Co. from $260.00 to $268.00 and gave the stock a “hold” rating in a research report on Thursday, January 16th. Ten investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $252.89.

Insider Buying and Selling at JPMorgan Chase & Co.

In other news, insider Robin Leopold sold 1,250 shares of the company’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 completion of the transaction, the insider now directly owns 50,377 shares of the company’s stock, valued at $13,606,323.93. This represents a 2.42 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Troy L. Rohrbaugh sold 37,500 shares of the company’s stock in a transaction dated Thursday, February 20th. The stock was 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 of the company’s stock, valued at $42,737,529.04. This represents a 19.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 46,326 shares of company stock valued at $12,448,445. Company insiders own 0.79% of the company’s stock.

JPMorgan Chase & Co. Company Profile

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.