Lorne Steinberg Wealth Management Inc. Reduces Stock Position in JPMorgan Chase & Co. (NYSE:JPM)

Lorne Steinberg Wealth Management Inc. lessened its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 0.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 38,949 shares of the financial services provider’s stock after selling 270 shares during the quarter. JPMorgan Chase & Co. comprises about 2.2% of Lorne Steinberg Wealth Management Inc.’s investment portfolio, making the stock its 14th biggest holding. Lorne Steinberg Wealth Management Inc.’s holdings in JPMorgan Chase & Co. were worth $6,625,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Morgan Stanley lifted its stake in shares of JPMorgan Chase & Co. by 0.3% in the 3rd quarter. Morgan Stanley now owns 62,941,343 shares of the financial services provider’s stock worth $9,127,754,000 after purchasing an additional 201,441 shares during the period. FMR LLC lifted its stake in shares of JPMorgan Chase & Co. by 1.2% in the 3rd quarter. FMR LLC now owns 49,417,639 shares of the financial services provider’s stock worth $7,166,546,000 after purchasing an additional 606,382 shares during the period. Wellington Management Group LLP lifted its stake 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 worth $6,151,997,000 after purchasing an additional 4,603,090 shares during the period. Northern Trust Corp raised its stake in JPMorgan Chase & Co. by 2.7% during the 3rd quarter. Northern Trust Corp now owns 33,089,310 shares of the financial services provider’s stock worth $4,798,612,000 after acquiring an additional 871,091 shares during the period. Finally, Ameriprise Financial Inc. raised its stake in JPMorgan Chase & Co. by 2.0% during the 3rd quarter. Ameriprise Financial Inc. now owns 23,724,676 shares of the financial services provider’s stock worth $3,442,313,000 after acquiring an additional 457,184 shares during the period. Hedge funds and other institutional investors own 71.55% of the company’s stock.

Insider Activity at JPMorgan Chase & Co.

In other news, Vice Chairman Peter Scher sold 1,810 shares of the company’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 completion of the transaction, the insider now directly owns 44,956 shares of the company’s stock, valued at approximately $8,045,325.76. The sale was disclosed in a filing with the SEC, which is available at this link. In other news, Vice Chairman Peter Scher sold 1,810 shares of the company’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 completion of the transaction, the insider now directly owns 44,956 shares of the company’s stock, valued at approximately $8,045,325.76. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Lori A. Beer sold 3,920 shares of the company’s stock in a transaction that occurred on Monday, March 25th. The stock was 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 of the company’s stock, valued at $12,656,006.88. The disclosure for this sale can be found here. Insiders have sold a total of 1,020,696 shares of company stock worth $186,794,151 over the last quarter. Insiders own 0.79% of the company’s stock.

JPMorgan Chase & Co. Stock Performance

JPM stock opened at $193.30 on Tuesday. 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 business has a 50-day moving average price of $190.64 and a 200 day moving average price of $171.25. The company has a market capitalization of $555.17 billion, a P/E ratio of 11.67, a PEG ratio of 2.43 and a beta of 1.15. JPMorgan Chase & Co. has a 1-year low of $131.81 and a 1-year high of $200.94.

JPMorgan Chase & Co. Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Friday, April 5th will be paid a dividend of $1.15 per share. This is a positive change from JPMorgan Chase & Co.’s previous quarterly dividend of $1.05. The ex-dividend date is Thursday, April 4th. This represents a $4.60 dividend on an annualized basis and a dividend yield of 2.38%. JPMorgan Chase & Co.’s payout ratio is presently 27.78%.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the stock. UBS Group decreased their target price on shares of JPMorgan Chase & Co. from $226.00 to $219.00 and set a “buy” rating on the stock in a research note on Tuesday, April 16th. 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 on the stock in a research report on Monday, April 15th. Piper Sandler reduced their price objective on shares of 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. Jefferies Financial Group raised their target price on shares of JPMorgan Chase & Co. from $202.00 to $228.00 and gave the company a “buy” rating in a report on Monday, April 8th. Finally, Morgan Stanley cut their target price on shares of JPMorgan Chase & Co. from $221.00 to $216.00 and set an “overweight” rating for the company in a report on Monday, April 15th. Eight investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $192.05.

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.