Perennial Investment Advisors LLC Raises Stock Holdings in JPMorgan Chase & Co. (NYSE:JPM)

Perennial Investment Advisors LLC lifted its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 0.9% during the fourth quarter, HoldingsChannel.com reports. The fund owned 9,285 shares of the financial services provider’s stock after purchasing an additional 81 shares during the quarter. Perennial Investment Advisors LLC’s holdings in JPMorgan Chase & Co. were worth $2,226,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also modified their holdings of the company. Sellwood Investment Partners LLC purchased a new stake in shares of JPMorgan Chase & Co. during the fourth quarter worth approximately $34,000. Midwest Capital Advisors LLC acquired a new position in JPMorgan Chase & Co. in the 4th quarter valued at $43,000. Prudent Man Investment Management Inc. purchased a new position in JPMorgan Chase & Co. during the 4th quarter worth $43,000. Legacy Investment Solutions LLC acquired a new stake in shares of JPMorgan Chase & Co. in the 3rd quarter worth $45,000. Finally, Collier Financial purchased a new stake in shares of JPMorgan Chase & Co. in the fourth quarter valued at about $45,000. 71.55% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms recently issued reports on JPM. Robert W. Baird raised shares of JPMorgan Chase & Co. from an “underperform” rating to a “neutral” rating and increased their price target for the stock from $215.00 to $220.00 in a report on Friday, March 7th. Barclays increased 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. Truist Financial decreased their price target on JPMorgan Chase & Co. from $268.00 to $264.00 and set a “hold” rating on the stock in a research note on Friday. UBS Group increased their price objective on JPMorgan Chase & Co. from $276.00 to $287.00 and gave the stock a “buy” rating in a research report on Thursday, January 16th. Finally, Wolfe Research upgraded shares of JPMorgan Chase & Co. from a “peer perform” rating to an “outperform” rating and set a $269.00 target price on the stock in a research report on Friday, January 3rd. Ten investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $254.83.

Insiders Place Their Bets

In related news, General Counsel Stacey Friedman sold 3,303 shares of the stock in a transaction dated 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 in the company, valued at approximately $12,092,622.80. This represents a 6.49 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Troy L. Rohrbaugh sold 37,500 shares of the firm’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 completion of the sale, the chief executive officer now directly owns 158,381 shares in the company, valued at approximately $42,737,529.04. The trade was a 19.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 76,848 shares of company stock valued at $19,987,908 in the last quarter. 0.79% of the stock is currently owned by company insiders.

JPMorgan Chase & Co. Trading Down 8.1 %

JPMorgan Chase & Co. stock opened at $210.09 on Monday. The stock has a 50-day moving average price of $254.71 and a 200 day moving average price of $241.75. JPMorgan Chase & Co. has a 52 week low of $179.20 and a 52 week high of $280.25. The stock has a market cap of $587.43 billion, a PE ratio of 10.64, a P/E/G ratio of 2.83 and a beta of 1.01. 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 issued 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 during the quarter, compared to the consensus estimate of $41.90 billion. JPMorgan Chase & Co. had a net margin of 20.96% and a return on equity of 16.99%. The company’s quarterly revenue was up 10.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.04 earnings per share. Equities research analysts predict that JPMorgan Chase & Co. will post 18.1 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Friday, April 4th will be issued a $1.40 dividend. The ex-dividend date is Friday, April 4th. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.25. This represents a $5.60 annualized dividend and a yield of 2.67%. JPMorgan Chase & Co.’s payout ratio is 28.37%.

About JPMorgan Chase & Co.

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.