JPMorgan Chase & Co. (NYSE:JPM) Shares Sold by REDW Wealth LLC

REDW Wealth LLC lowered its position in JPMorgan Chase & Co. (NYSE:JPM) by 9.4% in the fourth quarter, HoldingsChannel reports. The fund owned 6,789 shares of the financial services provider’s stock after selling 701 shares during the quarter. REDW Wealth LLC’s holdings in JPMorgan Chase & Co. were worth $1,155,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the company. Fortem Financial Group LLC increased its holdings in JPMorgan Chase & Co. by 7.5% in the 4th quarter. Fortem Financial Group LLC now owns 13,893 shares of the financial services provider’s stock worth $2,363,000 after acquiring an additional 973 shares in the last quarter. Trifecta Capital Advisors LLC grew its position in shares of JPMorgan Chase & Co. by 1.1% in the fourth quarter. Trifecta Capital Advisors LLC now owns 22,164 shares of the financial services provider’s stock valued at $3,770,000 after purchasing an additional 237 shares during the period. Narus Financial Partners LLC increased its stake in shares of JPMorgan Chase & Co. by 2.4% during the fourth quarter. Narus Financial Partners LLC now owns 5,282 shares of the financial services provider’s stock worth $898,000 after purchasing an additional 125 shares in the last quarter. Perennial Advisors LLC raised its position in shares of JPMorgan Chase & Co. by 0.8% during the 4th quarter. Perennial Advisors LLC now owns 59,804 shares of the financial services provider’s stock worth $10,173,000 after purchasing an additional 490 shares during the last quarter. Finally, Altus Wealth Management LLC lifted its stake in JPMorgan Chase & Co. by 12.7% in the 4th quarter. Altus Wealth Management LLC now owns 3,105 shares of the financial services provider’s stock valued at $528,000 after buying an additional 349 shares in the last quarter. 71.55% of the stock is owned by hedge funds and other institutional investors.

JPMorgan Chase & Co. Stock Performance

NYSE:JPM opened at $182.90 on Tuesday. JPMorgan Chase & Co. has a 52 week low of $131.81 and a 52 week high of $200.94. The company has a fifty day simple moving average of $188.28 and a two-hundred day simple moving average of $168.17. The company has a quick ratio of 0.91, a current ratio of 0.92 and a debt-to-equity ratio of 1.29. The company has a market cap of $525.31 billion, a price-to-earnings ratio of 11.04, a price-to-earnings-growth ratio of 2.32 and a beta of 1.15.

JPMorgan Chase & Co. (NYSE:JPM) last posted its quarterly earnings results on Friday, January 12th. The financial services provider reported $3.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 revenue for the quarter was up 11.7% on a year-over-year basis. During the same period in the prior year, the business earned $3.57 EPS. As a group, equities analysts anticipate that JPMorgan Chase & Co. will post 15.78 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Friday, April 5th will be issued a $1.15 dividend. This is a boost from JPMorgan Chase & Co.’s previous quarterly dividend of $1.05. The ex-dividend date is Thursday, April 4th. This represents a $4.60 annualized dividend and a yield of 2.52%. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is 27.78%.

Analysts Set New Price Targets

Several equities research analysts have commented on JPM shares. Piper Sandler cut their price objective on JPMorgan Chase & Co. from $220.00 to $215.00 and set an “overweight” rating for the company in a research note on Monday. Wells Fargo & Company boosted their price target on shares of JPMorgan Chase & Co. from $200.00 to $220.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 20th. Evercore ISI increased their price objective on shares of JPMorgan Chase & Co. from $188.00 to $210.00 and gave the company an “outperform” rating in a report on Thursday, April 4th. Deutsche Bank Aktiengesellschaft upgraded JPMorgan Chase & Co. from a “hold” rating to a “buy” rating and boosted their target price for the stock from $140.00 to $190.00 in a report on Tuesday, January 9th. Finally, Jefferies Financial Group increased their price target on JPMorgan Chase & Co. from $202.00 to $228.00 and gave the company a “buy” rating in a report on Monday, April 8th. 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 MarketBeat.com, JPMorgan Chase & Co. presently has an average rating of “Moderate Buy” and a consensus target price of $190.56.

Insider Buying and Selling

In other news, CEO Jennifer Piepszak sold 1,648 shares of the firm’s stock in a transaction on Friday, February 16th. The shares were sold at an average price of $178.96, for a total value of $294,926.08. Following the sale, the chief executive officer now directly owns 32,819 shares in the company, valued at approximately $5,873,288.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO James Dimon sold 178,222 shares of the company’s stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $184.18, for a total transaction of $32,824,927.96. Following the completion of the transaction, the chief executive officer now directly owns 264,461 shares of the company’s stock, valued at approximately $48,708,426.98. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Jennifer Piepszak sold 1,648 shares of the firm’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $178.96, for a total value of $294,926.08. Following the sale, the chief executive officer now directly owns 32,819 shares in the company, valued at approximately $5,873,288.24. The disclosure for this sale can be found here. Insiders sold 1,020,696 shares of company stock worth $186,794,151 over the last 90 days. 0.79% of the stock is owned by insiders.

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.