Harvey Capital Management Inc. Has $7.36 Million Position in JPMorgan Chase & Co. (NYSE:JPM)

Harvey Capital Management Inc. reduced its stake in JPMorgan Chase & Co. (NYSE:JPM) by 0.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 43,242 shares of the financial services provider’s stock after selling 150 shares during the quarter. JPMorgan Chase & Co. accounts for 2.4% of Harvey Capital Management Inc.’s portfolio, making the stock its 10th largest position. Harvey Capital Management Inc.’s holdings in JPMorgan Chase & Co. were worth $7,355,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Valicenti Advisory Services Inc. lifted its holdings in shares of JPMorgan Chase & Co. by 2.9% in the third quarter. Valicenti Advisory Services Inc. now owns 79,891 shares of the financial services provider’s stock valued at $11,586,000 after purchasing an additional 2,220 shares in the last quarter. Etfidea LLC raised its position in JPMorgan Chase & Co. by 5.4% in the 4th quarter. Etfidea LLC now owns 1,937 shares of the financial services provider’s stock valued at $329,000 after buying an additional 100 shares during the last quarter. TKG Advisors LLC lifted its stake in JPMorgan Chase & Co. by 97.6% in the 3rd quarter. TKG Advisors LLC now owns 13,205 shares of the financial services provider’s stock valued at $1,915,000 after acquiring an additional 6,521 shares in the last quarter. Sutton Place Investors LLC boosted its position in JPMorgan Chase & Co. by 179.5% during the 4th quarter. Sutton Place Investors LLC now owns 13,099 shares of the financial services provider’s stock worth $2,228,000 after acquiring an additional 8,412 shares during the last quarter. Finally, Alley Investment Management Company LLC grew its stake in shares of JPMorgan Chase & Co. by 0.4% during the 3rd quarter. Alley Investment Management Company LLC now owns 126,913 shares of the financial services provider’s stock worth $18,405,000 after acquiring an additional 530 shares in the last quarter. 71.55% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts recently commented on JPM shares. Evercore ISI increased their target price on shares of JPMorgan Chase & Co. from $188.00 to $210.00 and gave the stock an “outperform” rating in a report on Thursday, April 4th. Morgan Stanley decreased their price objective on JPMorgan Chase & Co. from $221.00 to $216.00 and set an “overweight” rating for the company in a report on Monday, April 15th. Piper Sandler lowered their target price on JPMorgan Chase & Co. from $220.00 to $215.00 and set an “overweight” rating on the stock in a research report on Monday, April 15th. Keefe, Bruyette & Woods increased their price target on JPMorgan Chase & Co. from $182.00 to $195.00 and gave the company a “market perform” rating in a research report on Friday, April 5th. Finally, Bank of America raised their price target on JPMorgan Chase & Co. from $177.00 to $188.00 and gave the company a “buy” rating in a research note on Thursday, January 4th. Eight analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $192.05.

JPMorgan Chase & Co. Price Performance

JPMorgan Chase & Co. stock opened at $185.80 on Friday. The stock’s 50 day moving average is $188.83 and its 200-day moving average is $168.88. The company has a market capitalization of $533.63 billion, a price-to-earnings ratio of 11.22, a PEG ratio of 2.26 and a beta of 1.15. JPMorgan Chase & Co. has a 12 month low of $131.81 and a 12 month high of $200.94. The company has a current ratio of 0.92, a quick ratio of 0.91 and a debt-to-equity ratio of 1.29.

JPMorgan Chase & Co. Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Friday, April 5th will be issued a dividend of $1.15 per share. The ex-dividend date is Thursday, April 4th. This represents a $4.60 dividend on an annualized basis and a dividend yield of 2.48%. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.05. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is currently 27.78%.

Insider Activity at JPMorgan Chase & Co.

In other JPMorgan Chase & Co. news, CEO James Dimon sold 178,222 shares of the stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $184.18, for a total transaction of $32,824,927.96. Following the transaction, the chief executive officer now owns 264,461 shares in the company, valued at approximately $48,708,426.98. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, CEO James Dimon sold 178,222 shares of the business’s stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $184.18, for a total value of $32,824,927.96. Following the completion of the sale, the chief executive officer now directly owns 264,461 shares in the company, valued at $48,708,426.98. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Vice Chairman Peter Scher sold 1,810 shares of the firm’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 in the company, valued at approximately $8,045,325.76. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,020,696 shares of company stock worth $186,794,151. Corporate insiders own 0.79% of the company’s stock.

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.