United Services Automobile Association Purchases 8,353 Shares of JPMorgan Chase & Co. (NYSE:JPM)

United Services Automobile Association lifted its position in shares of JPMorgan Chase & Co. (NYSE:JPM) by 3.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 266,087 shares of the financial services provider’s stock after purchasing an additional 8,353 shares during the period. JPMorgan Chase & Co. comprises 2.1% of United Services Automobile Association’s investment portfolio, making the stock its 14th largest holding. United Services Automobile Association’s holdings in JPMorgan Chase & Co. were worth $63,784,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in JPM. Midwest Capital Advisors LLC acquired a new position in JPMorgan Chase & Co. during the 4th quarter worth about $43,000. Legacy Investment Solutions LLC acquired a new position in shares of JPMorgan Chase & Co. in the third quarter worth approximately $45,000. Collier Financial bought a new stake in JPMorgan Chase & Co. in the fourth quarter valued at approximately $45,000. Lowe Wealth Advisors LLC increased its position in JPMorgan Chase & Co. by 34.0% during the 4th quarter. Lowe Wealth Advisors LLC now owns 201 shares of the financial services provider’s stock valued at $48,000 after purchasing an additional 51 shares during the period. Finally, Kieckhefer Group LLC bought a new position in JPMorgan Chase & Co. during the 4th quarter worth approximately $50,000. Institutional investors and hedge funds own 71.55% of the company’s stock.

JPMorgan Chase & Co. Trading Down 2.1 %

Shares of JPMorgan Chase & Co. stock opened at $242.97 on Friday. The company has a current ratio of 0.88, a quick ratio of 0.89 and a debt-to-equity ratio of 1.24. The stock has a fifty day simple moving average of $257.55 and a 200 day simple moving average of $240.54. JPMorgan Chase & Co. has a 12-month low of $179.20 and a 12-month high of $280.25. The company has a market capitalization of $679.36 billion, a P/E ratio of 12.31, a price-to-earnings-growth ratio of 2.83 and a beta of 1.10.

JPMorgan Chase & Co. (NYSE:JPM) last announced its earnings results on Wednesday, January 15th. The financial services provider reported $4.81 EPS for the quarter, beating the consensus estimate of $4.03 by $0.78. JPMorgan Chase & Co. had a net margin of 20.96% and a return on equity of 16.99%. The company had revenue of $42.77 billion during the quarter, compared to the consensus estimate of $41.90 billion. During the same quarter in the prior year, the company posted $3.04 earnings per share. The firm’s revenue for the quarter was up 10.9% on a year-over-year basis. On average, sell-side analysts anticipate 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 announced a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Friday, April 4th will be issued a $1.40 dividend. The ex-dividend date is Friday, April 4th. This is a positive change from JPMorgan Chase & Co.’s previous quarterly dividend of $1.25. This represents a $5.60 annualized dividend and a dividend yield of 2.30%. JPMorgan Chase & Co.’s dividend payout ratio is currently 28.37%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on JPM. Keefe, Bruyette & Woods increased their price objective 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. Wolfe Research upgraded JPMorgan Chase & Co. from a “peer perform” rating to an “outperform” rating and set a $269.00 price target for the company in a report on Friday, January 3rd. Piper Sandler boosted their price objective on JPMorgan Chase & Co. from $240.00 to $275.00 and gave the company an “overweight” rating in a research note on Tuesday, December 3rd. 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, January 16th. Finally, UBS Group boosted their price target on JPMorgan Chase & Co. from $276.00 to $287.00 and gave the company a “buy” rating in a research note on Thursday, January 16th. Ten research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $252.89.

Insider Activity at JPMorgan Chase & Co.

In related news, insider Robin Leopold sold 1,250 shares of the firm’s stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $246.92, for a total transaction of $308,650.00. Following the completion of the sale, the insider now owns 49,127 shares in the company, valued at approximately $12,130,438.84. This trade represents a 2.48 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, COO Jennifer Piepszak sold 4,273 shares of the business’s stock in a transaction dated 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 transaction, the chief operating officer now owns 54,469 shares in the company, valued at approximately $14,698,459.65. The trade was a 7.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 76,848 shares of company stock valued at $19,987,908. 0.79% of the stock is owned by insiders.

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.