Allspring Global Investments Holdings LLC Has $170.02 Million Holdings in JPMorgan Chase & Co. (NYSE:JPM)

Allspring Global Investments Holdings LLC lessened its stake in JPMorgan Chase & Co. (NYSE:JPM) by 11.1% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 697,771 shares of the financial services provider’s stock after selling 87,423 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in JPMorgan Chase & Co. were worth $170,019,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of JPM. Redwood Park Advisors LLC acquired a new position in JPMorgan Chase & Co. during the fourth quarter worth about $29,000. Curat Global LLC acquired a new position in JPMorgan Chase & Co. during the first quarter worth about $33,000. Sellwood Investment Partners LLC acquired a new position in JPMorgan Chase & Co. during the fourth quarter worth about $34,000. Investment Counsel Co. of Nevada acquired a new position in JPMorgan Chase & Co. during the fourth quarter worth about $37,000. Finally, Midwest Capital Advisors LLC acquired a new position in JPMorgan Chase & Co. during the fourth quarter worth about $43,000. Institutional investors and hedge funds own 71.55% of the company’s stock.

Insiders Place Their Bets

In other JPMorgan Chase & Co. news, CFO Jeremy Barnum sold 40,014 shares of the stock in a transaction that occurred on Tuesday, May 6th. The stock was sold at an average price of $250.77, for a total transaction of $10,034,310.78. Following the transaction, the chief financial officer directly owned 18,017 shares in the company, valued at approximately $4,518,123.09. This represents a 68.95% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, General Counsel Stacey Friedman sold 6,608 shares of the stock in a transaction that occurred on Tuesday, May 20th. The stock was sold at an average price of $265.71, for a total value of $1,755,811.68. Following the transaction, the general counsel owned 36,520 shares in the company, valued at $9,703,729.20. The trade was a 15.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 71,200 shares of company stock valued at $18,060,015 over the last 90 days. 0.47% of the stock is currently owned by corporate insiders.

JPMorgan Chase & Co. Stock Performance

Shares of JPM stock opened at $296.13 on Friday. The business’s 50 day simple moving average is $265.91 and its 200 day simple moving average is $254.16. JPMorgan Chase & Co. has a one year low of $190.90 and a one year high of $296.40. The stock has a market capitalization of $822.96 billion, a PE ratio of 14.54, a PEG ratio of 2.72 and a beta of 1.10. The company has a debt-to-equity ratio of 1.23, a current ratio of 0.89 and a quick ratio of 0.89.

JPMorgan Chase & Co. (NYSE:JPM) last announced its earnings results on Friday, April 11th. The financial services provider reported $5.07 EPS for the quarter, beating the consensus estimate of $4.63 by $0.44. The business had revenue of $45.30 billion for the quarter, compared to analysts’ expectations of $43.62 billion. JPMorgan Chase & Co. had a return on equity of 16.88% and a net margin of 21.21%. The firm’s revenue was up 8.0% on a year-over-year basis. During the same period in the prior year, the business posted $4.44 earnings per share. As a group, research analysts forecast that JPMorgan Chase & Co. will post 18.1 earnings per share for the current year.

JPMorgan Chase & Co. Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Thursday, July 3rd will be issued a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a dividend yield of 1.89%. The ex-dividend date is Thursday, July 3rd. JPMorgan Chase & Co.’s payout ratio is 27.49%.

Analysts Set New Price Targets

Several brokerages have commented on JPM. Citigroup reissued a “neutral” rating and set a $275.00 target price (up previously from $250.00) on shares of JPMorgan Chase & Co. in a research note on Wednesday, June 25th. TD Securities reissued a “buy” rating on shares of JPMorgan Chase & Co. in a research note on Wednesday, June 4th. KGI Securities started coverage on JPMorgan Chase & Co. in a research note on Sunday, April 13th. They set a “hold” rating for the company. Morgan Stanley boosted their price target on JPMorgan Chase & Co. from $236.00 to $240.00 and gave the stock an “equal weight” rating in a report on Monday, June 23rd. Finally, Wall Street Zen upgraded JPMorgan Chase & Co. from a “sell” rating to a “hold” rating in a report on Wednesday, May 14th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, JPMorgan Chase & Co. currently has an average rating of “Hold” and an average price target of $277.74.

JPMorgan Chase & Co. Company 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.