Fortune Financial Advisors LLC Cuts Holdings in JPMorgan Chase & Co. (NYSE:JPM)

Fortune Financial Advisors LLC trimmed its stake in JPMorgan Chase & Co. (NYSE:JPM) by 5.1% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 17,797 shares of the financial services provider’s stock after selling 951 shares during the period. JPMorgan Chase & Co. accounts for about 2.1% of Fortune Financial Advisors LLC’s investment portfolio, making the stock its 10th largest position. Fortune Financial Advisors LLC’s holdings in JPMorgan Chase & Co. were worth $3,027,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in JPM. Moneta Group Investment Advisors LLC raised its stake in shares of JPMorgan Chase & Co. by 105,652.2% in 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 acquiring an additional 97,907,897 shares in the last quarter. Norges Bank bought a new position in JPMorgan Chase & Co. in the 4th quarter worth approximately $3,894,646,000. Morgan Stanley increased its position in JPMorgan Chase & Co. by 15.9% in the 4th quarter. Morgan Stanley now owns 59,049,256 shares of the financial services provider’s stock worth $7,918,506,000 after buying an additional 8,088,433 shares during the period. International Assets Investment Management LLC bought a new position in JPMorgan Chase & Co. in the 4th quarter worth approximately $1,017,893,000. Finally, Wellington Management Group LLP increased its position in 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 worth $6,151,997,000 after buying an additional 4,603,090 shares during the period. 71.55% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have commented on JPM. The Goldman Sachs Group reaffirmed a “buy” rating on shares of JPMorgan Chase & Co. in a research report on Thursday, February 1st. Piper Sandler dropped their price target on JPMorgan Chase & Co. from $220.00 to $215.00 and set an “overweight” rating on the stock in a research report on Monday. Barclays lifted their price target on JPMorgan Chase & Co. from $186.00 to $212.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 2nd. Keefe, Bruyette & Woods lifted their price target on JPMorgan Chase & Co. from $182.00 to $195.00 and gave the stock a “market perform” rating in a research report on Friday, April 5th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $185.00 price objective on shares of JPMorgan Chase & Co. in a research report on Wednesday, March 20th. Eight equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat.com, JPMorgan Chase & Co. currently has a consensus rating of “Moderate Buy” and a consensus price target of $190.56.

JPMorgan Chase & Co. Price Performance

Shares of JPM stock opened at $182.90 on Tuesday. The stock’s fifty day simple moving average is $188.28 and its 200 day simple moving average is $168.17. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.92 and a quick ratio of 0.91. The firm has a market cap of $525.31 billion, a price-to-earnings ratio of 11.04, a P/E/G ratio of 2.32 and a beta of 1.15. JPMorgan Chase & Co. has a one year low of $131.81 and a one year high of $200.94.

JPMorgan Chase & Co. (NYSE:JPM) last announced its quarterly 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). The company had revenue of $38.57 billion during the quarter, compared to analyst estimates of $39.73 billion. JPMorgan Chase & Co. had a net margin of 20.05% and a return on equity of 17.79%. JPMorgan Chase & Co.’s quarterly revenue was up 11.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.57 EPS. On average, analysts expect that JPMorgan Chase & Co. will post 15.78 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Friday, April 5th will be paid 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 2.52%. This is a positive change from JPMorgan Chase & Co.’s previous quarterly dividend of $1.05. JPMorgan Chase & Co.’s payout ratio is currently 27.78%.

Insiders Place Their Bets

In other JPMorgan Chase & Co. news, Vice Chairman Peter Scher sold 1,810 shares of the business’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $178.96, for a total value of $323,917.60. Following the transaction, the insider now owns 44,956 shares of the company’s stock, valued at $8,045,325.76. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, Vice Chairman Peter Scher sold 1,810 shares of the company’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $178.96, for a total transaction of $323,917.60. Following the transaction, the insider now owns 44,956 shares of the company’s stock, valued at $8,045,325.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Lori A. Beer sold 3,920 shares of the company’s stock in a transaction on Monday, March 25th. The shares were sold at an average price of $195.36, for a total value of $765,811.20. Following the transaction, the insider now directly owns 64,783 shares in the company, valued at approximately $12,656,006.88. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,020,696 shares of company stock valued at $186,794,151. 0.79% of the stock is currently owned by corporate insiders.

JPMorgan Chase & Co. Company Profile

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.