Renasant Bank Lowers Stock Position in JPMorgan Chase & Co. (NYSE:JPM)

Renasant Bank lessened its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 1.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,347 shares of the financial services provider’s stock after selling 101 shares during the quarter. Renasant Bank’s holdings in JPMorgan Chase & Co. were worth $1,282,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in JPM. Midwest Capital Advisors LLC acquired a new stake in shares of JPMorgan Chase & Co. during the 4th quarter valued at approximately $43,000. Peterson Financial Group Inc. acquired a new stake in shares of JPMorgan Chase & Co. during the 3rd quarter valued at approximately $45,000. Legacy Investment Solutions LLC acquired a new stake in shares of JPMorgan Chase & Co. during the 3rd quarter valued at approximately $45,000. Collier Financial acquired a new stake in shares of JPMorgan Chase & Co. during the 4th quarter valued at approximately $45,000. Finally, Lowe Wealth Advisors LLC lifted its position in shares of JPMorgan Chase & Co. by 34.0% during the 4th quarter. Lowe Wealth Advisors LLC now owns 201 shares of the financial services provider’s stock valued at $48,000 after acquiring an additional 51 shares during the period. Hedge funds and other institutional investors own 71.55% of the company’s stock.

Insider Activity

In related news, 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 value of $1,153,069.05. Following the completion of the sale, the chief operating officer now directly owns 54,469 shares in the company, valued at approximately $14,698,459.65. This represents a 7.27 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Robin Leopold sold 1,250 shares of the stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $270.09, for a total value of $337,612.50. Following the completion of the sale, the insider now owns 50,377 shares of the company’s stock, valued at approximately $13,606,323.93. This represents a 2.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 46,326 shares of company stock valued at $12,448,445 in the last ninety days. Company insiders own 0.79% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on JPM shares. Barclays lifted their price target on shares of JPMorgan Chase & Co. from $304.00 to $330.00 and gave the company an “overweight” rating in a research report on Thursday, January 16th. Robert W. Baird upgraded shares of JPMorgan Chase & Co. from an “underperform” rating to a “neutral” rating and lifted their price target for the company from $215.00 to $220.00 in a research report on Friday, March 7th. Wolfe Research upgraded JPMorgan Chase & Co. from a “peer perform” rating to an “outperform” rating and set a $269.00 price objective for the company in a research report on Friday, January 3rd. Baird R W upgraded JPMorgan Chase & Co. from a “strong sell” rating to a “hold” rating in a research report on Friday, March 7th. Finally, Keefe, Bruyette & Woods lifted their price objective on JPMorgan Chase & Co. from $257.00 to $264.00 and gave the stock a “market perform” rating in a research report on Thursday, January 16th. Ten research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $252.89.

JPMorgan Chase & Co. Stock Up 1.0 %

Shares of NYSE JPM opened at $241.49 on Friday. JPMorgan Chase & Co. has a 52-week low of $179.20 and a 52-week high of $280.25. The firm has a fifty day moving average of $257.86 and a 200-day moving average of $239.22. The stock has a market capitalization of $675.24 billion, a PE ratio of 12.23, a P/E/G ratio of 2.83 and a beta of 1.10. The company has a quick ratio of 0.89, a current ratio of 0.88 and a debt-to-equity ratio of 1.24.

JPMorgan Chase & Co. (NYSE:JPM) last announced its quarterly earnings data 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. JPMorgan Chase & Co. had a net margin of 20.96% and a return on equity of 16.99%. The company had revenue of $42.77 billion during the quarter, compared to analysts’ expectations of $41.90 billion. During the same period in the previous year, the company earned $3.04 EPS. The business’s quarterly revenue was up 10.9% compared to the same quarter last year. On average, analysts anticipate that JPMorgan Chase & Co. will post 18.1 EPS for the current year.

JPMorgan Chase & Co. Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Friday, April 4th will be paid a dividend of $1.40 per share. The ex-dividend date is Friday, April 4th. This is a boost from JPMorgan Chase & Co.’s previous quarterly dividend of $1.25. This represents a $5.60 annualized dividend and a dividend yield of 2.32%. JPMorgan Chase & Co.’s payout ratio is currently 28.37%.

About JPMorgan Chase & Co.

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.