Cigna Investments Inc. New Reduces Stock Position in JPMorgan Chase & Co. (NYSE:JPM)

Cigna Investments Inc. New lowered its stake in JPMorgan Chase & Co. (NYSE:JPMFree Report) by 2.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 28,877 shares of the financial services provider’s stock after selling 684 shares during the quarter. JPMorgan Chase & Co. accounts for 1.2% of Cigna Investments Inc. New’s portfolio, making the stock its 12th largest position. Cigna Investments Inc. New’s holdings in JPMorgan Chase & Co. were worth $6,922,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in JPM. International Assets Investment Management LLC purchased a new stake in JPMorgan Chase & Co. in the third quarter worth approximately $1,888,088,000. Fisher Asset Management LLC boosted its holdings in JPMorgan Chase & Co. by 31.7% in the third quarter. Fisher Asset Management LLC now owns 16,784,272 shares of the financial services provider’s stock worth $3,539,132,000 after purchasing an additional 4,043,841 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund boosted its stake in shares of JPMorgan Chase & Co. by 137.8% during the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 4,376,176 shares of the financial services provider’s stock worth $922,760,000 after acquiring an additional 2,535,590 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec boosted its stake in shares of JPMorgan Chase & Co. by 93.6% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 2,692,159 shares of the financial services provider’s stock worth $567,669,000 after acquiring an additional 1,301,764 shares during the last quarter. Finally, Franklin Resources Inc. boosted its stake in shares of JPMorgan Chase & Co. by 7.2% during the 3rd quarter. Franklin Resources Inc. now owns 15,073,193 shares of the financial services provider’s stock worth $3,338,955,000 after acquiring an additional 1,016,289 shares during the last quarter. Hedge funds and other institutional investors own 71.55% of the company’s stock.

JPMorgan Chase & Co. Stock Down 0.2 %

JPM opened at $279.30 on Thursday. The firm has a 50-day simple moving average of $255.13 and a two-hundred day simple moving average of $234.26. 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 company has a market capitalization of $786.31 billion, a PE ratio of 14.15, a price-to-earnings-growth ratio of 2.93 and a beta of 1.12. JPMorgan Chase & Co. has a 52 week low of $178.40 and a 52 week high of $280.25.

JPMorgan Chase & Co. (NYSE:JPMGet Free Report) last announced its earnings results on Wednesday, January 15th. The financial services provider reported $4.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.03 by $0.78. The firm had revenue of $42.77 billion for the quarter, compared to analysts’ expectations of $41.90 billion. JPMorgan Chase & Co. had a net margin of 20.96% and a return on equity of 16.99%. The business’s revenue was up 10.9% compared to the same quarter last year. During the same period in the prior year, the company earned $3.04 EPS. Analysts forecast that JPMorgan Chase & Co. will post 18.1 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Monday, January 6th were given a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a dividend yield of 1.79%. The ex-dividend date of this dividend was Monday, January 6th. JPMorgan Chase & Co.’s dividend payout ratio is 25.33%.

Insider Activity

In other news, General Counsel Stacey Friedman sold 3,303 shares of the company’s stock in a transaction dated Thursday, January 16th. The shares were sold at an average price of $253.94, for a total transaction of $838,763.82. Following the sale, the general counsel now directly owns 47,620 shares in the company, valued at approximately $12,092,622.80. This represents a 6.49 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.79% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on JPM shares. Piper Sandler lifted their price target on shares of JPMorgan Chase & Co. from $240.00 to $275.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 3rd. Wolfe Research upgraded shares of JPMorgan Chase & Co. from a “peer perform” rating to an “outperform” rating and set a $269.00 price target on the stock in a research note on Friday, January 3rd. Truist Financial lifted their price target on shares of JPMorgan Chase & Co. from $260.00 to $268.00 and gave the stock a “hold” rating in a research note on Thursday, January 16th. Wells Fargo & Company lifted their price target on shares of JPMorgan Chase & Co. from $240.00 to $270.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. Finally, Barclays lifted 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 note on Thursday, January 16th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $251.78.

Get Our Latest Research Report on JPM

JPMorgan Chase & Co. Company Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for JPMorgan Chase & Co. (NYSE:JPM)

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