JPMorgan Chase & Co. (NYSE:JPM) Stake Boosted by New Vernon Investment Management LLC

New Vernon Investment Management LLC boosted its stake in JPMorgan Chase & Co. (NYSE:JPM) by 2,550.6% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 112,729 shares of the financial services provider’s stock after buying an additional 108,476 shares during the quarter. JPMorgan Chase & Co. comprises 16.3% of New Vernon Investment Management LLC’s holdings, making the stock its largest holding. New Vernon Investment Management LLC’s holdings in JPMorgan Chase & Co. were worth $27,022,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Redwood Park Advisors LLC bought a new position in shares of JPMorgan Chase & Co. during the fourth quarter valued at approximately $29,000. Sellwood Investment Partners LLC bought a new position in JPMorgan Chase & Co. during the 4th quarter valued at approximately $34,000. Investment Counsel Co. of Nevada purchased a new position in JPMorgan Chase & Co. during the fourth quarter valued at $37,000. Prudent Man Investment Management Inc. bought a new stake in JPMorgan Chase & Co. in the fourth quarter worth $43,000. Finally, Midwest Capital Advisors LLC purchased a new stake in shares of JPMorgan Chase & Co. in the fourth quarter worth $43,000. 71.55% of the stock is owned by institutional investors.

JPMorgan Chase & Co. Price Performance

Shares of NYSE:JPM opened at $244.77 on Friday. The company has a quick ratio of 0.89, a current ratio of 0.88 and a debt-to-equity ratio of 1.24. The stock has a market capitalization of $681.19 billion, a PE ratio of 12.40, a price-to-earnings-growth ratio of 2.83 and a beta of 1.01. The firm’s 50 day moving average price is $241.63 and its 200-day moving average price is $243.39. JPMorgan Chase & Co. has a twelve month low of $188.46 and a twelve month high of $280.25.

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 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 business had revenue of $45.30 billion for the quarter, compared to the consensus estimate of $43.62 billion. During the same period last year, the firm earned $4.44 earnings per share. The company’s quarterly revenue was up 8.0% on a year-over-year basis. Equities research analysts expect that JPMorgan Chase & Co. will post 18.1 EPS for the current year.

JPMorgan Chase & Co. Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Friday, April 4th will be issued a dividend of $1.40 per share. This represents a $5.60 annualized dividend and a yield of 2.29%. The ex-dividend date is Friday, April 4th. This is a positive change from JPMorgan Chase & Co.’s previous quarterly dividend of $1.25. JPMorgan Chase & Co.’s payout ratio is currently 27.49%.

Insiders Place Their Bets

In other JPMorgan Chase & Co. news, insider Robin Leopold sold 1,250 shares of JPMorgan Chase & Co. stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $270.09, for a total transaction 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. The trade was a 2.42 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Jennifer Piepszak sold 4,273 shares of the stock in a transaction on Thursday, February 20th. The stock was 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 directly owns 54,469 shares of the company’s stock, valued at approximately $14,698,459.65. This trade represents a 7.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 73,545 shares of company stock worth $19,149,144 over the last quarter. 0.79% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on JPM. Barclays upped their price target on shares of JPMorgan Chase & Co. from $304.00 to $330.00 and gave the stock an “overweight” rating in a research note on Thursday, January 16th. Truist Financial set a $261.00 price target on shares of JPMorgan Chase & Co. in a report on Monday, April 14th. Bank of America decreased their price objective on shares of JPMorgan Chase & Co. from $285.00 to $284.00 and set a “buy” rating for the company in a report on Wednesday, April 2nd. Baird R W upgraded JPMorgan Chase & Co. from a “strong sell” rating to a “hold” rating in a research note on Friday, March 7th. Finally, KGI Securities assumed coverage on JPMorgan Chase & Co. in a report on Sunday, April 13th. They set a “hold” rating on the stock. One analyst has rated the stock with a sell rating, ten have given a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $255.67.

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.