Connors Investor Services Inc. Raises Stake in JPMorgan Chase & Co. (NYSE:JPM)

Connors Investor Services Inc. grew its position in JPMorgan Chase & Co. (NYSE:JPM) by 3.8% during the fourth quarter, Holdings Channel.com reports. The firm owned 71,723 shares of the financial services provider’s stock after acquiring an additional 2,612 shares during the period. JPMorgan Chase & Co. accounts for approximately 1.6% of Connors Investor Services Inc.’s holdings, making the stock its 19th largest position. Connors Investor Services Inc.’s holdings in JPMorgan Chase & Co. were worth $17,193,000 as of its most recent filing with the Securities and Exchange Commission.

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

Analyst Ratings Changes

Several research firms recently commented on JPM. Keefe, Bruyette & Woods upped their price target on shares of 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. UBS Group lifted their price objective on shares of JPMorgan Chase & Co. from $277.00 to $305.00 and gave the company a “buy” rating in a research note on Thursday, April 17th. KGI Securities started coverage on shares of JPMorgan Chase & Co. in a research note on Sunday, April 13th. They set a “hold” rating for the company. Baird R W upgraded JPMorgan Chase & Co. from a “strong sell” rating to a “hold” rating in a research report on Friday, March 7th. Finally, Truist Financial set a $261.00 price objective on JPMorgan Chase & Co. in a research report on Monday, April 14th. Eleven analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $255.67.

JPMorgan Chase & Co. Stock Performance

Shares of JPM stock opened at $244.61 on Wednesday. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.89 and a current ratio of 0.88. The stock has a market cap of $680.75 billion, a PE ratio of 12.39, a P/E/G ratio of 2.83 and a beta of 1.01. JPMorgan Chase & Co. has a 1 year low of $188.46 and a 1 year high of $280.25. The stock has a fifty day moving average price of $239.74 and a 200 day moving average price of $244.19.

JPMorgan Chase & Co. (NYSE:JPM) last released its quarterly earnings results on Friday, April 11th. The financial services provider reported $5.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.63 by $0.44. The business had revenue of $45.30 billion during the quarter, compared to the consensus estimate of $43.62 billion. JPMorgan Chase & Co. had a return on equity of 16.99% and a net margin of 20.96%. The business’s revenue was up 8.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $4.44 EPS. Sell-side analysts forecast 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 disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Friday, April 4th will be paid a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a dividend yield of 2.29%. This is a boost from JPMorgan Chase & Co.’s previous quarterly dividend of $1.25. The ex-dividend date is Friday, April 4th. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is 27.49%.

Insider Buying and Selling

In related news, COO Jennifer Piepszak sold 4,273 shares of the company’s stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $269.85, for a total transaction of $1,153,069.05. Following the transaction, the chief operating officer now owns 54,469 shares of the company’s stock, valued at approximately $14,698,459.65. This represents a 7.27 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Troy L. Rohrbaugh sold 37,500 shares of the business’s stock in a transaction 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 completion of the transaction, the chief executive officer now owns 158,381 shares of the company’s stock, valued at $42,737,529.04. This trade represents a 19.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 73,545 shares of company stock worth $19,149,144 in the last ninety days. Insiders own 0.47% of the company’s stock.

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.