Migdal Insurance & Financial Holdings Ltd. Cuts Stake in JPMorgan Chase & Co. (NYSE:JPM)

Migdal Insurance & Financial Holdings Ltd. cut its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 19.3% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 255,556 shares of the financial services provider’s stock after selling 61,114 shares during the quarter. JPMorgan Chase & Co. accounts for approximately 0.9% of Migdal Insurance & Financial Holdings Ltd.’s holdings, making the stock its 27th biggest holding. Migdal Insurance & Financial Holdings Ltd.’s holdings in JPMorgan Chase & Co. were worth $43,471,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in JPM. Macroview Investment Management LLC boosted its position in JPMorgan Chase & Co. by 7,833.3% during the 3rd quarter. Macroview Investment Management LLC now owns 238 shares of the financial services provider’s stock valued at $34,000 after buying an additional 235 shares during the period. Briaud Financial Planning Inc bought a new position in shares of JPMorgan Chase & Co. during the third quarter valued at about $40,000. Rakuten Securities Inc. purchased a new stake in shares of JPMorgan Chase & Co. during the fourth quarter worth about $44,000. Morton Brown Family Wealth LLC grew its stake in shares of JPMorgan Chase & Co. by 2,308.3% in the fourth quarter. Morton Brown Family Wealth LLC now owns 289 shares of the financial services provider’s stock worth $49,000 after purchasing an additional 277 shares during the last quarter. Finally, Bear Mountain Capital Inc. purchased a new position in JPMorgan Chase & Co. during the 4th quarter valued at about $51,000. 71.55% of the stock is currently owned by institutional investors.

JPMorgan Chase & Co. Stock Up 0.5 %

Shares of NYSE:JPM opened at $193.08 on Thursday. The business’s 50 day moving average is $189.80 and its 200 day moving average is $170.07. The stock has a market cap of $554.54 billion, a P/E ratio of 11.66, a price-to-earnings-growth ratio of 2.38 and a beta of 1.15. JPMorgan Chase & Co. has a 52-week low of $131.81 and a 52-week high of $200.94. The company has a quick ratio of 0.91, a current ratio of 0.92 and a debt-to-equity ratio of 1.29.

JPMorgan Chase & Co. Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Friday, April 5th will be given a dividend of $1.15 per share. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.05. The ex-dividend date of this dividend is Thursday, April 4th. This represents a $4.60 dividend on an annualized basis and a dividend yield of 2.38%. JPMorgan Chase & Co.’s dividend payout ratio is presently 27.78%.

Insider Activity

In related news, CEO Jennifer Piepszak sold 1,648 shares of the company’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $178.96, for a total value of $294,926.08. Following the completion of the sale, the chief executive officer now directly owns 32,819 shares of the company’s stock, valued at $5,873,288.24. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, Vice Chairman Peter Scher sold 1,810 shares of the firm’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $178.96, for a total value of $323,917.60. Following the sale, the insider now directly owns 44,956 shares in the company, valued at approximately $8,045,325.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Jennifer Piepszak sold 1,648 shares of JPMorgan Chase & Co. stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $178.96, for a total transaction of $294,926.08. Following the completion of the transaction, the chief executive officer now directly owns 32,819 shares in the company, valued at approximately $5,873,288.24. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,020,696 shares of company stock worth $186,794,151. Company insiders own 0.79% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on JPM shares. Royal Bank of Canada reiterated an “outperform” rating and issued a $185.00 price target on shares of JPMorgan Chase & Co. in a report on Wednesday, March 20th. Keefe, Bruyette & Woods boosted their price target on shares of JPMorgan Chase & Co. from $182.00 to $195.00 and gave the company a “market perform” rating in a research report on Friday, April 5th. Oppenheimer lowered their price objective on shares of JPMorgan Chase & Co. from $219.00 to $217.00 and set an “outperform” rating for the company in a report on Monday, April 15th. BMO Capital Markets cut their price objective on JPMorgan Chase & Co. from $196.00 to $195.00 and set a “market perform” rating on the stock in a research report on Monday, April 15th. Finally, Piper Sandler decreased their target price on JPMorgan Chase & Co. from $220.00 to $215.00 and set an “overweight” rating for the company in a research report on Monday, April 15th. Eight investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $192.05.

About JPMorgan Chase & Co.

JPMorgan Chase & Co operates as a financial services company worldwide. It operates through four segments: Consumer & Community Banking (CCB), Corporate & Investment Bank (CIB), Commercial Banking (CB), and Asset & Wealth Management (AWM). The CCB segment offers deposit, investment and lending products, cash management, and payments and services; mortgage origination and servicing activities; residential mortgages and home equity loans; and credit cards, auto loans, leases, and travel services to consumers and small businesses through bank branches, ATMs, and digital and telephone banking.