JPMorgan Chase & Co. (NYSE:JPM) Stake Lowered by Pinnacle Associates Ltd.

Pinnacle Associates Ltd. decreased its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 0.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 478,369 shares of the financial services provider’s stock after selling 290 shares during the quarter. JPMorgan Chase & Co. makes up approximately 1.4% of Pinnacle Associates Ltd.’s portfolio, making the stock its 6th biggest position. Pinnacle Associates Ltd.’s holdings in JPMorgan Chase & Co. were worth $81,371,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. State Street Corp increased its position in shares of JPMorgan Chase & Co. by 1.9% during the second quarter. State Street Corp now owns 126,243,947 shares of the financial services provider’s stock worth $18,360,920,000 after purchasing an additional 2,384,901 shares in the last quarter. Moneta Group Investment Advisors LLC lifted its stake in JPMorgan Chase & Co. by 105,652.2% in the fourth 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 buying an additional 97,907,897 shares during the last quarter. Morgan Stanley lifted its stake in JPMorgan Chase & Co. by 0.3% in the third quarter. Morgan Stanley now owns 62,941,343 shares of the financial services provider’s stock valued at $9,127,754,000 after buying an additional 201,441 shares during the last quarter. FMR LLC grew its position in shares of JPMorgan Chase & Co. by 1.2% during the third quarter. FMR LLC now owns 49,417,639 shares of the financial services provider’s stock worth $7,166,546,000 after acquiring an additional 606,382 shares during the last quarter. Finally, Wellington Management Group LLP increased its holdings in shares of JPMorgan Chase & Co. by 12.2% in the 3rd quarter. Wellington Management Group LLP now owns 42,421,711 shares of the financial services provider’s stock valued at $6,151,997,000 after acquiring an additional 4,603,090 shares during the period. 71.55% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at JPMorgan Chase & Co.

In related news, General Counsel Stacey Friedman sold 6,030 shares of the business’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $182.73, for a total value of $1,101,861.90. Following the completion of the sale, the general counsel now directly owns 59,456 shares in the company, valued at $10,864,394.88. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, CEO Jennifer Piepszak sold 1,649 shares of the business’s stock in a transaction dated Tuesday, January 16th. The stock was sold at an average price of $166.59, for a total transaction of $274,706.91. Following the completion of the sale, the chief executive officer now owns 34,467 shares in the company, valued at approximately $5,741,857.53. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Stacey Friedman sold 6,030 shares of the firm’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $182.73, for a total transaction of $1,101,861.90. Following the completion of the transaction, the general counsel now owns 59,456 shares in the company, valued at approximately $10,864,394.88. The disclosure for this sale can be found here. Insiders sold 849,303 shares of company stock worth $155,107,447 in the last 90 days. 0.79% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on JPM shares. Piper Sandler upped their target price on shares of JPMorgan Chase & Co. from $190.00 to $200.00 and gave the company an “overweight” rating in a report on Tuesday, January 16th. Bank of America lifted their price objective on shares of JPMorgan Chase & Co. from $177.00 to $188.00 and gave the company a “buy” rating in a research report on Thursday, January 4th. BMO Capital Markets upped their price objective on shares of JPMorgan Chase & Co. from $192.00 to $194.00 and gave the stock a “market perform” rating in a research report on Tuesday, January 16th. Oppenheimer lowered their price objective on JPMorgan Chase & Co. from $238.00 to $219.00 and set an “outperform” rating on the stock in a report on Tuesday, March 19th. Finally, Wells Fargo & Company raised their price target on JPMorgan Chase & Co. from $200.00 to $220.00 and gave the company an “overweight” rating in a report on Wednesday, March 20th. Eight analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $181.63.

Check Out Our Latest Stock Report on JPM

JPMorgan Chase & Co. Stock Performance

NYSE:JPM opened at $198.86 on Wednesday. The company has a debt-to-equity ratio of 1.30, a current ratio of 0.91 and a quick ratio of 0.91. The firm has a market cap of $572.79 billion, a PE ratio of 12.26, a P/E/G ratio of 2.54 and a beta of 1.15. The firm has a 50 day simple moving average of $184.05 and a 200-day simple moving average of $164.86. JPMorgan Chase & Co. has a 1-year low of $126.22 and a 1-year high of $200.94.

JPMorgan Chase & Co. (NYSE:JPMGet Free Report) last released its earnings results on Friday, January 12th. The financial services provider reported $3.04 EPS for the quarter, missing the consensus estimate of $3.73 by ($0.69). JPMorgan Chase & Co. had a return on equity of 17.80% and a net margin of 20.70%. The firm had revenue of $38.57 billion during the quarter, compared to analysts’ expectations of $39.73 billion. During the same period in the previous year, the firm posted $3.57 earnings per share. The firm’s revenue was up 11.7% on a year-over-year basis. On average, equities analysts expect that JPMorgan Chase & Co. will post 15.75 EPS for the current year.

JPMorgan Chase & Co. Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Friday, April 5th will be given a dividend of $1.15 per share. The ex-dividend date of this dividend is Thursday, April 4th. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.05. This represents a $4.60 annualized dividend and a yield of 2.31%. JPMorgan Chase & Co.’s dividend payout ratio is 25.89%.

JPMorgan Chase & Co. Company Profile

(Free Report)

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.

Further Reading

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

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