JPMorgan Chase & Co. (NYSE:JPM) Position Trimmed by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans reduced its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 9.5% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 1,489,735 shares of the financial services provider’s stock after selling 156,446 shares during the quarter. JPMorgan Chase & Co. makes up 0.7% of Thrivent Financial for Lutherans’ portfolio, making the stock its 12th biggest position. Thrivent Financial for Lutherans owned approximately 0.05% of JPMorgan Chase & Co. worth $357,069,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Disciplined Investments LLC acquired a new position in JPMorgan Chase & Co. during the 4th quarter valued at approximately $217,000. LGT Group Foundation grew its position in JPMorgan Chase & Co. by 2.8% in the 4th quarter. LGT Group Foundation now owns 525,801 shares of the financial services provider’s stock worth $126,040,000 after purchasing an additional 14,300 shares during the last quarter. Kinsale Capital Group Inc. increased its stake in shares of JPMorgan Chase & Co. by 11.1% in the fourth quarter. Kinsale Capital Group Inc. now owns 43,732 shares of the financial services provider’s stock valued at $10,483,000 after purchasing an additional 4,375 shares during the period. Jag Capital Management LLC raised its holdings in shares of JPMorgan Chase & Co. by 10.5% during the fourth quarter. Jag Capital Management LLC now owns 1,474 shares of the financial services provider’s stock valued at $353,000 after buying an additional 140 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its position in shares of JPMorgan Chase & Co. by 7.7% during the third quarter. JPMorgan Chase & Co. now owns 4,450,775 shares of the financial services provider’s stock worth $938,491,000 after buying an additional 319,730 shares during the period. 71.55% of the stock is owned by institutional investors and hedge funds.

JPMorgan Chase & Co. Stock Up 1.2 %

Shares of JPMorgan Chase & Co. stock opened at $250.99 on Wednesday. The firm has a market cap of $701.79 billion, a price-to-earnings ratio of 12.71, a P/E/G ratio of 2.83 and a beta of 1.10. The stock has a 50-day simple moving average of $258.02 and a 200-day simple moving average of $239.98. 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 current ratio of 0.88 and a quick ratio of 0.89.

JPMorgan Chase & Co. (NYSE:JPM) last posted its earnings results on Wednesday, January 15th. The financial services provider reported $4.81 EPS for the quarter, topping the consensus estimate of $4.03 by $0.78. JPMorgan Chase & Co. had a net margin of 20.96% and a return on equity of 16.99%. The company had revenue of $42.77 billion during the quarter, compared to the consensus estimate of $41.90 billion. During the same period in the previous year, the firm posted $3.04 earnings per share. The company’s revenue for the quarter was up 10.9% compared to the same quarter last year. On average, equities research analysts expect that JPMorgan Chase & Co. will post 18.1 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Friday, April 4th will be issued a dividend of $1.40 per share. 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 yield of 2.23%. The ex-dividend date of this dividend is Friday, April 4th. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is 28.37%.

Insiders Place Their Bets

In related news, COO Jennifer Piepszak sold 4,273 shares of the business’s stock in a transaction that occurred 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 directly owns 54,469 shares in the company, valued at approximately $14,698,459.65. The trade was a 7.27 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Troy L. Rohrbaugh sold 37,500 shares of the stock in a transaction that occurred on Thursday, February 20th. The shares were 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 owns 158,381 shares in the company, valued at approximately $42,737,529.04. This trade represents a 19.14 % decrease in their position. 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 quarter. Insiders own 0.79% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have weighed in on JPM. UBS Group lifted 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. Keefe, Bruyette & Woods raised their price objective on shares of JPMorgan Chase & Co. from $257.00 to $264.00 and gave the company a “market perform” rating in a research note on Thursday, January 16th. Truist Financial raised their target price on JPMorgan Chase & Co. from $260.00 to $268.00 and gave the company a “hold” rating in a research note on Thursday, January 16th. Baird R W raised shares of JPMorgan Chase & Co. from a “strong sell” rating to a “hold” rating in a report on Friday, March 7th. Finally, Robert W. Baird raised shares of JPMorgan Chase & Co. from an “underperform” rating to a “neutral” rating and increased their target price for the company from $215.00 to $220.00 in a research note on Friday, March 7th. Ten analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, JPMorgan Chase & Co. presently has an average rating of “Moderate Buy” and a consensus price target of $252.89.

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.