Rakuten Securities Inc. Grows Stock Holdings in JPMorgan Chase & Co. (NYSE:JPM)

Rakuten Securities Inc. increased its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 126.6% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,645 shares of the financial services provider’s stock after purchasing an additional 919 shares during the period. Rakuten Securities Inc.’s holdings in JPMorgan Chase & Co. were worth $394,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in JPM. Principal Financial Group Inc. grew its position in JPMorgan Chase & Co. by 3.2% during the third quarter. Principal Financial Group Inc. now owns 5,824,289 shares of the financial services provider’s stock valued at $1,228,110,000 after buying an additional 182,648 shares during the period. United Bank grew its position in JPMorgan Chase & Co. by 2.5% during the third quarter. United Bank now owns 25,354 shares of the financial services provider’s stock valued at $5,346,000 after buying an additional 614 shares during the period. Maxwell Wealth Strategies Inc. grew its position in JPMorgan Chase & Co. by 21.9% during the third quarter. Maxwell Wealth Strategies Inc. now owns 32,622 shares of the financial services provider’s stock valued at $7,225,000 after buying an additional 5,852 shares during the period. RIA Advisory Group LLC bought a new stake in JPMorgan Chase & Co. during the third quarter valued at approximately $402,000. Finally, KPP Advisory Services LLC grew its position in JPMorgan Chase & Co. by 0.8% during the third quarter. KPP Advisory Services LLC now owns 13,136 shares of the financial services provider’s stock valued at $2,770,000 after buying an additional 104 shares during the period. 71.55% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on JPM shares. Barclays boosted their target price on shares of JPMorgan Chase & Co. from $304.00 to $330.00 and gave the company an “overweight” rating in a research report on Thursday, January 16th. Truist Financial boosted their target price on shares of JPMorgan Chase & Co. from $260.00 to $268.00 and gave the company a “hold” rating in a research report on Thursday, January 16th. Wolfe Research upgraded shares of JPMorgan Chase & Co. from a “peer perform” rating to an “outperform” rating and set a $269.00 price target for the company in a research report on Friday, January 3rd. Bank of America upped their price target on shares of JPMorgan Chase & Co. from $260.00 to $280.00 and gave the stock a “buy” rating in a research report on Tuesday, January 7th. Finally, Keefe, Bruyette & Woods upped their price target on shares of JPMorgan Chase & Co. from $257.00 to $264.00 and gave the stock a “market perform” rating in a research report on Thursday, January 16th. Ten investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat, JPMorgan Chase & Co. has an average rating of “Moderate Buy” and a consensus target price of $252.89.

Insider Activity

In related news, insider Robin Leopold sold 1,250 shares of the firm’s stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $270.09, for a total value of $337,612.50. Following the transaction, the insider now owns 50,377 shares of the company’s stock, valued at $13,606,323.93. This trade represents a 2.42 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, General Counsel Stacey Friedman sold 3,303 shares of the firm’s 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 completion of the transaction, the general counsel now directly owns 47,620 shares in the company, valued at $12,092,622.80. This represents a 6.49 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 46,326 shares of company stock valued at $12,448,445. 0.79% of the stock is currently owned by company insiders.

JPMorgan Chase & Co. Price Performance

Shares of NYSE:JPM opened at $238.86 on Friday. The firm has a market cap of $667.89 billion, a price-to-earnings ratio of 12.10, a P/E/G ratio of 2.83 and a beta of 1.10. The firm has a fifty day moving average price of $257.83 and a 200 day moving average price of $239.11. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.89 and a current ratio of 0.88. JPMorgan Chase & Co. has a fifty-two week low of $179.20 and a fifty-two week high of $280.25.

JPMorgan Chase & Co. (NYSE:JPM) last released its quarterly earnings results on Wednesday, January 15th. The financial services provider reported $4.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.03 by $0.78. The company had revenue of $42.77 billion for 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%. JPMorgan Chase & Co.’s revenue was up 10.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.04 earnings per share. As a group, sell-side analysts expect that JPMorgan Chase & Co. will post 18.1 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Friday, April 4th will be paid a $1.40 dividend. The ex-dividend date of this dividend is Friday, April 4th. This represents a $5.60 annualized dividend and a dividend yield of 2.34%. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.25. JPMorgan Chase & Co.’s dividend payout ratio is currently 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. 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.