JPMorgan Chase & Co. (NYSE:JPM) is Harvey Capital Management Inc.’s 10th Largest Position

Harvey Capital Management Inc. reduced its position in JPMorgan Chase & Co. (NYSE:JPM) by 0.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 43,242 shares of the financial services provider’s stock after selling 150 shares during the period. JPMorgan Chase & Co. comprises approximately 2.4% of Harvey Capital Management Inc.’s holdings, making the stock its 10th largest position. Harvey Capital Management Inc.’s holdings in JPMorgan Chase & Co. were worth $7,355,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the company. Moneta Group Investment Advisors LLC raised its stake in JPMorgan Chase & Co. by 105,652.2% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 98,000,567 shares of the financial services provider’s stock valued at $13,141,876,000 after purchasing an additional 97,907,897 shares during the period. Norges Bank purchased a new position in shares of JPMorgan Chase & Co. during the fourth quarter valued at $3,894,646,000. Morgan Stanley raised its position in JPMorgan Chase & Co. by 15.9% during the fourth quarter. Morgan Stanley now owns 59,049,256 shares of the financial services provider’s stock valued at $7,918,506,000 after buying an additional 8,088,433 shares during the period. International Assets Investment Management LLC purchased a new stake in JPMorgan Chase & Co. in the 4th quarter worth about $1,017,893,000. Finally, Wellington Management Group LLP boosted its position in JPMorgan Chase & Co. by 12.2% during the 3rd quarter. Wellington Management Group LLP now owns 42,421,711 shares of the financial services provider’s stock worth $6,151,997,000 after acquiring an additional 4,603,090 shares during the period. Institutional investors and hedge funds own 71.55% of the company’s stock.

JPMorgan Chase & Co. Stock Up 2.5 %

JPM stock opened at $185.80 on Friday. The stock has a market capitalization of $533.63 billion, a price-to-earnings ratio of 11.22, a price-to-earnings-growth ratio of 2.26 and a beta of 1.15. The company has a 50-day moving average of $188.83 and a two-hundred day moving average of $168.88. JPMorgan Chase & Co. has a 52-week low of $131.81 and a 52-week high of $200.94. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.92 and a quick ratio of 0.91.

JPMorgan Chase & Co. Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Friday, April 5th will be issued a $1.15 dividend. The ex-dividend date is Thursday, April 4th. This represents a $4.60 dividend on an annualized basis and a yield of 2.48%. This is a positive change from JPMorgan Chase & Co.’s previous quarterly dividend of $1.05. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is 27.78%.

Wall Street Analysts Forecast Growth

JPM has been the topic of a number of research reports. Wells Fargo & Company upped their target price on JPMorgan Chase & Co. from $200.00 to $220.00 and gave the company an “overweight” rating in a report on Wednesday, March 20th. Jefferies Financial Group upped their price objective on shares of JPMorgan Chase & Co. from $202.00 to $228.00 and gave the company a “buy” rating in a research note on Monday, April 8th. Piper Sandler decreased their target price on shares of JPMorgan Chase & Co. from $220.00 to $215.00 and set an “overweight” rating for the company in a research note on Monday, April 15th. 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 report on Friday, April 5th. Finally, Evercore ISI increased their price objective on JPMorgan Chase & Co. from $188.00 to $210.00 and gave the stock an “outperform” rating in a report on Thursday, April 4th. Eight equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $192.05.

Insiders Place Their Bets

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

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.