Prosperity Wealth Management Inc. Sells 485 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Prosperity Wealth Management Inc. trimmed its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 15.7% in the 4th quarter, Holdings Channel reports. The fund owned 2,606 shares of the financial services provider’s stock after selling 485 shares during the quarter. Prosperity Wealth Management Inc.’s holdings in JPMorgan Chase & Co. were worth $443,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Macroview Investment Management LLC increased its stake in shares of JPMorgan Chase & Co. by 7,833.3% in the 3rd quarter. Macroview Investment Management LLC now owns 238 shares of the financial services provider’s stock worth $34,000 after acquiring an additional 235 shares in the last quarter. Briaud Financial Planning Inc bought a new position in shares of JPMorgan Chase & Co. in the 3rd quarter worth about $40,000. Morton Brown Family Wealth LLC increased its stake in shares of JPMorgan Chase & Co. by 2,308.3% in the 4th quarter. Morton Brown Family Wealth LLC now owns 289 shares of the financial services provider’s stock worth $49,000 after acquiring an additional 277 shares in the last quarter. Bear Mountain Capital Inc. bought a new stake in JPMorgan Chase & Co. during the 4th quarter valued at about $51,000. Finally, FSC Wealth Advisors LLC increased its stake in JPMorgan Chase & Co. by 290.9% during the 3rd quarter. FSC Wealth Advisors LLC now owns 387 shares of the financial services provider’s stock valued at $56,000 after purchasing an additional 288 shares in the last quarter. 71.55% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

JPM has been the subject of a number of analyst reports. Barclays raised their price objective on shares of JPMorgan Chase & Co. from $186.00 to $212.00 and gave the company an “overweight” rating in a research note on Tuesday, January 2nd. BMO Capital Markets reduced their price objective on shares of JPMorgan Chase & Co. from $196.00 to $195.00 and set a “market perform” rating for the company in a research note on Monday, April 15th. The Goldman Sachs Group restated a “buy” rating on shares of JPMorgan Chase & Co. in a research note on Thursday, February 1st. Piper Sandler reduced their price objective on shares of JPMorgan Chase & Co. from $220.00 to $215.00 and set an “overweight” rating for the company in a research note on Monday, April 15th. Finally, Keefe, Bruyette & Woods raised their price objective on shares of JPMorgan Chase & Co. from $182.00 to $195.00 and gave the company a “market perform” rating in a research note on Friday, April 5th. Eight investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $192.05.

JPMorgan Chase & Co. Stock Performance

JPM opened at $192.11 on Wednesday. The company has a current ratio of 0.92, a quick ratio of 0.91 and a debt-to-equity ratio of 1.29. The company has a market cap of $551.76 billion, a price-to-earnings ratio of 11.60, a PEG ratio of 2.34 and a beta of 1.15. The company’s 50 day moving average is $189.46 and its 200 day moving average is $169.90. JPMorgan Chase & Co. has a 12-month low of $131.81 and a 12-month high of $200.94.

JPMorgan Chase & Co. Increases Dividend

The firm also recently disclosed 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 an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.05. The ex-dividend date of this dividend is Thursday, April 4th. This represents a $4.60 dividend on an annualized basis and a dividend yield of 2.39%. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is presently 27.78%.

Insider Buying and Selling

In related news, Vice Chairman Peter Scher sold 1,810 shares of the firm’s stock in a transaction that occurred on Friday, February 16th. The shares were 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 accessible through this link. In other JPMorgan Chase & Co. news, 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 sale, the general counsel now owns 59,456 shares in the company, valued at approximately $10,864,394.88. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Vice Chairman Peter Scher sold 1,810 shares of the firm’s stock in a transaction that occurred 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 sale, 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 quarter, insiders have sold 1,020,696 shares of company stock valued at $186,794,151. 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.