Burney Co. Increases Stake in JPMorgan Chase & Co. (NYSE:JPM)

Burney Co. raised its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 376.6% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 110,499 shares of the financial services provider’s stock after purchasing an additional 87,313 shares during the quarter. JPMorgan Chase & Co. comprises about 0.9% of Burney Co.’s holdings, making the stock its 19th biggest position. Burney Co.’s holdings in JPMorgan Chase & Co. were worth $26,488,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. International Assets Investment Management LLC purchased a new position in JPMorgan Chase & Co. during the third quarter worth approximately $1,888,088,000. Fisher Asset Management LLC increased its stake in shares of 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 worth $3,539,132,000 after acquiring an additional 4,043,841 shares during the last quarter. Wulff Hansen & CO. raised its holdings in shares of JPMorgan Chase & Co. by 19,920.7% during the 2nd quarter. Wulff Hansen & CO. now owns 2,801,503 shares of the financial services provider’s stock worth $566,632,000 after acquiring an additional 2,787,510 shares during the period. Healthcare of Ontario Pension Plan Trust Fund boosted its position in shares of JPMorgan Chase & Co. by 137.8% during 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 acquiring an additional 2,535,590 shares during the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec grew its holdings in shares of JPMorgan Chase & Co. by 93.6% in the third 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 period. 71.55% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

JPM has been the topic of a number of analyst reports. UBS Group lifted their target price on shares of JPMorgan Chase & Co. from $276.00 to $287.00 and gave the stock a “buy” rating in a research note on Thursday. Morgan Stanley cut JPMorgan Chase & Co. from an “overweight” rating to an “equal weight” rating and upped their price objective for the company from $220.00 to $224.00 in a report on Monday, September 30th. 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. Daiwa Capital Markets reduced their target price on JPMorgan Chase & Co. from $240.00 to $235.00 and set an “overweight” rating on the stock in a research report on Thursday, October 10th. Finally, Keefe, Bruyette & Woods increased their price target on JPMorgan Chase & Co. from $257.00 to $264.00 and gave the stock a “market perform” rating in a report on Thursday. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $251.78.

Insider Activity

In related news, General Counsel Stacey Friedman sold 3,303 shares of the business’s stock in a transaction on Thursday, January 16th. The shares were sold at an average price of $253.94, for a total transaction of $838,763.82. Following the completion of the transaction, the general counsel now owns 47,620 shares in the company, valued at approximately $12,092,622.80. The trade was a 6.49 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.79% of the company’s stock.

JPMorgan Chase & Co. Trading Up 0.7 %

JPM opened at $254.15 on Friday. JPMorgan Chase & Co. has a 12 month low of $165.24 and a 12 month high of $257.04. The stock has a market capitalization of $715.53 billion, a price-to-earnings ratio of 14.14, a PEG ratio of 3.16 and a beta of 1.11. The company has a debt-to-equity ratio of 1.27, a current ratio of 0.89 and a quick ratio of 0.89. The business has a fifty day moving average price of $242.70 and a 200 day moving average price of $223.72.

JPMorgan Chase & Co. (NYSE:JPM) last announced its quarterly earnings data on Wednesday, January 15th. The financial services provider reported $4.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.03 by $0.78. JPMorgan Chase & Co. had a return on equity of 16.71% and a net margin of 19.64%. The business had revenue of $42.77 billion during the quarter, compared to analysts’ expectations of $41.90 billion. During the same quarter last year, the business posted $3.04 EPS. The business’s quarterly revenue was up 10.9% compared to the same quarter last year. Sell-side analysts expect that JPMorgan Chase & Co. will post 17.46 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Monday, January 6th will be given a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a dividend yield of 1.97%. The ex-dividend date of this dividend is Monday, January 6th. JPMorgan Chase & Co.’s dividend payout ratio is presently 27.82%.

JPMorgan Chase & Co. Profile

JPMorgan Chase & Co operates as a financial services company worldwide. It operates through four segments: Consumer & Community Banking (CCB), Corporate & Investment Bank (CIB), Commercial Banking (CB), and Asset & Wealth Management (AWM). The CCB segment offers deposit, investment and lending products, cash management, and payments and services; mortgage origination and servicing activities; residential mortgages and home equity loans; and credit cards, auto loans, leases, and travel services to consumers and small businesses through bank branches, ATMs, and digital and telephone banking.