Thrivent Financial for Lutherans Sells 156,446 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Thrivent Financial for Lutherans trimmed its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 9.5% in the 4th quarter, Holdings Channel reports. The fund owned 1,489,735 shares of the financial services provider’s stock after selling 156,446 shares during the quarter. JPMorgan Chase & Co. comprises 0.7% of Thrivent Financial for Lutherans’ portfolio, making the stock its 12th biggest holding. Thrivent Financial for Lutherans’ holdings in JPMorgan Chase & Co. were worth $357,069,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Disciplined Investments LLC bought a new position in shares of JPMorgan Chase & Co. during the 4th quarter worth about $217,000. LGT Group Foundation increased its stake in JPMorgan Chase & Co. by 2.8% during the fourth quarter. LGT Group Foundation now owns 525,801 shares of the financial services provider’s stock valued at $126,040,000 after acquiring an additional 14,300 shares during the period. Kinsale Capital Group Inc. raised its holdings in JPMorgan Chase & Co. by 11.1% in the 4th quarter. Kinsale Capital Group Inc. now owns 43,732 shares of the financial services provider’s stock valued at $10,483,000 after acquiring an additional 4,375 shares in the last quarter. Jag Capital Management LLC lifted its position in shares of JPMorgan Chase & Co. by 10.5% in the 4th quarter. Jag Capital Management LLC now owns 1,474 shares of the financial services provider’s stock worth $353,000 after acquiring an additional 140 shares during the period. Finally, JPMorgan Chase & Co. grew its holdings in shares of JPMorgan Chase & Co. by 7.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 4,450,775 shares of the financial services provider’s stock worth $938,491,000 after purchasing an additional 319,730 shares in the last quarter. Institutional investors and hedge funds own 71.55% of the company’s stock.

JPMorgan Chase & Co. Price Performance

JPM opened at $250.99 on Wednesday. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.88 and a quick ratio of 0.89. The company’s 50 day simple moving average is $258.02 and its 200-day simple moving average is $239.98. JPMorgan Chase & Co. has a one year low of $179.20 and a one year high of $280.25. The stock has a market capitalization of $701.79 billion, a P/E ratio of 12.71, a price-to-earnings-growth ratio of 2.83 and a beta of 1.10.

JPMorgan Chase & Co. (NYSE:JPM) last released its earnings results on Wednesday, January 15th. The financial services provider reported $4.81 earnings per share for the quarter, topping analysts’ consensus estimates of $4.03 by $0.78. The company had revenue of $42.77 billion during the quarter, compared to the consensus estimate of $41.90 billion. JPMorgan Chase & Co. had a return on equity of 16.99% and a net margin of 20.96%. The firm’s quarterly revenue was up 10.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $3.04 earnings per share. 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 paid a $1.40 dividend. This represents a $5.60 annualized dividend and a dividend yield of 2.23%. The ex-dividend date of this dividend is Friday, April 4th. This is a positive change from JPMorgan Chase & Co.’s previous quarterly dividend of $1.25. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is 28.37%.

Wall Street Analysts Forecast Growth

JPM has been the subject of several research reports. Baird R W raised JPMorgan Chase & Co. from a “strong sell” rating to a “hold” rating in a research report on Friday, March 7th. Wolfe Research upgraded shares of JPMorgan Chase & Co. from a “peer perform” rating to an “outperform” rating and set a $269.00 target price on the stock in a research report on Friday, January 3rd. UBS Group upped their target price on shares of JPMorgan Chase & Co. from $276.00 to $287.00 and gave the company a “buy” rating in a research note on Thursday, January 16th. Piper Sandler raised 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. Finally, Bank of America upped their price objective on JPMorgan Chase & Co. from $260.00 to $280.00 and gave the company a “buy” rating in a research note on Tuesday, January 7th. Ten analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $252.89.

Insider Buying and Selling

In other news, COO Jennifer Piepszak sold 4,273 shares of the firm’s stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $269.85, for a total value of $1,153,069.05. Following the transaction, the chief operating officer now directly owns 54,469 shares in the company, valued at $14,698,459.65. This trade represents a 7.27 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Troy L. Rohrbaugh sold 37,500 shares of the company’s stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $269.84, for a total value of $10,119,000.00. Following the completion of the sale, the chief executive officer now owns 158,381 shares of the company’s stock, valued at $42,737,529.04. This represents a 19.14 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 76,848 shares of company stock valued at $19,987,908 over the last ninety days. Insiders own 0.79% of the company’s stock.

JPMorgan Chase & Co. Profile

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.