Woodline Partners LP Purchases Shares of 169,073 JPMorgan Chase & Co. (NYSE:JPM)

Woodline Partners LP acquired a new position in JPMorgan Chase & Co. (NYSE:JPM) during the fourth quarter, according to its most recent 13F filing with the SEC. The firm acquired 169,073 shares of the financial services provider’s stock, valued at approximately $40,528,000.

Several other hedge funds and other institutional investors have also modified their holdings of JPM. DDD Partners LLC lifted its position in JPMorgan Chase & Co. by 2.8% during the fourth quarter. DDD Partners LLC now owns 1,416 shares of the financial services provider’s stock valued at $339,000 after buying an additional 38 shares in the last quarter. Blue Bell Private Wealth Management LLC lifted its holdings in shares of JPMorgan Chase & Co. by 1.5% during the 4th quarter. Blue Bell Private Wealth Management LLC now owns 2,594 shares of the financial services provider’s stock valued at $622,000 after acquiring an additional 38 shares in the last quarter. Rappaport Reiches Capital Management LLC boosted its position in JPMorgan Chase & Co. by 3.8% during the 4th quarter. Rappaport Reiches Capital Management LLC now owns 1,068 shares of the financial services provider’s stock worth $256,000 after purchasing an additional 39 shares during the period. Yoder Wealth Management Inc. increased its holdings in JPMorgan Chase & Co. by 2.8% in the 4th quarter. Yoder Wealth Management Inc. now owns 1,436 shares of the financial services provider’s stock valued at $344,000 after purchasing an additional 39 shares in the last quarter. Finally, Almanack Investment Partners LLC. raised its position in JPMorgan Chase & Co. by 0.8% in the fourth quarter. Almanack Investment Partners LLC. now owns 5,143 shares of the financial services provider’s stock valued at $1,233,000 after purchasing an additional 39 shares during the period. 71.55% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other JPMorgan Chase & Co. news, CFO Jeremy Barnum sold 40,014 shares of the company’s stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $250.77, for a total value of $10,034,310.78. Following the completion of the transaction, the chief financial officer now owns 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 document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Jennifer Piepszak sold 4,273 shares of the firm’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 completion of the sale, the chief operating officer now owns 54,469 shares in the company, valued at $14,698,459.65. The trade was a 7.27% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 129,188 shares of company stock valued at $33,095,363. Insiders own 0.47% of the company’s stock.

Wall Street Analyst Weigh In

JPM has been the subject of several analyst reports. Truist Financial set a $261.00 target price on JPMorgan Chase & Co. in a research report on Monday, April 14th. Evercore ISI lowered their price objective on shares of JPMorgan Chase & Co. from $273.00 to $265.00 and set an “outperform” rating for the company in a research report on Tuesday, April 1st. Robert W. Baird upgraded shares of JPMorgan Chase & Co. from an “underperform” rating to a “neutral” rating and lifted their price objective for the company from $215.00 to $220.00 in a research note on Friday, March 7th. Cowen began coverage on shares of JPMorgan Chase & Co. in a research note on Wednesday, May 14th. They issued a “buy” rating for the company. Finally, Bank of America dropped their price target on shares of JPMorgan Chase & Co. from $285.00 to $284.00 and set a “buy” rating on the stock in a research note on Wednesday, April 2nd. Eleven investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $258.26.

JPMorgan Chase & Co. Stock Down 1.1%

JPM stock opened at $264.60 on Tuesday. The firm has a market cap of $735.35 billion, a price-to-earnings ratio of 13.40, a PEG ratio of 2.83 and a beta of 1.07. JPMorgan Chase & Co. has a 1-year low of $190.88 and a 1-year high of $280.25. The firm has a fifty day moving average price of $241.45 and a two-hundred day moving average price of $247.55. 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 released its quarterly earnings data on Friday, April 11th. The financial services provider reported $5.07 earnings per share for the quarter, topping the consensus estimate of $4.63 by $0.44. JPMorgan Chase & Co. had a net margin of 20.96% and a return on equity of 16.99%. The firm had revenue of $45.30 billion for the quarter, compared to analyst estimates of $43.62 billion. During the same quarter in the prior year, the business earned $4.44 earnings per share. JPMorgan Chase & Co.’s quarterly revenue was up 8.0% on a year-over-year basis. Research analysts predict that JPMorgan Chase & Co. will post 18.1 EPS for the current year.

JPMorgan Chase & Co. Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Thursday, July 3rd will be given a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a dividend yield of 2.12%. JPMorgan Chase & Co.’s payout ratio is 27.49%.

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.