JPMorgan Chase & Co. (NYSE:JPM) Shares Sold by Pitti Group Wealth Management LLC

Pitti Group Wealth Management LLC lessened its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 14.3% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,837 shares of the financial services provider’s stock after selling 472 shares during the quarter. Pitti Group Wealth Management LLC’s holdings in JPMorgan Chase & Co. were worth $483,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the stock. Curbstone Financial Management Corp increased its position in JPMorgan Chase & Co. by 0.3% during the 4th quarter. Curbstone Financial Management Corp now owns 23,930 shares of the financial services provider’s stock worth $4,070,000 after purchasing an additional 60 shares in the last quarter. Grey Street Capital LLC increased its holdings in shares of JPMorgan Chase & Co. by 0.9% during the fourth quarter. Grey Street Capital LLC now owns 6,994 shares of the financial services provider’s stock worth $1,190,000 after buying an additional 60 shares in the last quarter. Financial Management Network Inc. lifted its stake in shares of JPMorgan Chase & Co. by 0.8% in the 4th quarter. Financial Management Network Inc. now owns 7,523 shares of the financial services provider’s stock valued at $1,296,000 after acquiring an additional 61 shares during the last quarter. Sendero Wealth Management LLC boosted its holdings in shares of JPMorgan Chase & Co. by 1.1% during the 4th quarter. Sendero Wealth Management LLC now owns 5,811 shares of the financial services provider’s stock valued at $988,000 after acquiring an additional 62 shares in the last quarter. Finally, Raleigh Capital Management Inc. grew its position in JPMorgan Chase & Co. by 0.8% during the 3rd quarter. Raleigh Capital Management Inc. now owns 8,151 shares of the financial services provider’s stock worth $1,182,000 after acquiring an additional 64 shares during the last quarter. Hedge funds and other institutional investors own 71.55% of the company’s stock.

JPMorgan Chase & Co. Stock Down 0.6 %

Shares of NYSE JPM opened at $190.51 on Friday. 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 firm has a market cap of $547.16 billion, a PE ratio of 11.50, a P/E/G ratio of 2.41 and a beta of 1.13. The company’s fifty day simple moving average is $191.27 and its 200 day simple moving average is $171.84. 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 company also recently announced a quarterly dividend, which was paid on Tuesday, April 30th. Stockholders of record on Friday, April 5th were paid a $1.15 dividend. The ex-dividend date of this dividend was Thursday, April 4th. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.05. This represents a $4.60 annualized dividend and a dividend yield of 2.41%. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is currently 27.78%.

Insider Buying and Selling

In other JPMorgan Chase & Co. news, CEO James Dimon sold 178,222 shares of the firm’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 owns 264,461 shares of the company’s stock, valued at $48,708,426.98. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CEO James Dimon sold 178,222 shares of the stock in a transaction 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 transaction, the chief executive officer now directly 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 available through the SEC website. Also, Vice Chairman Peter Scher sold 1,810 shares of JPMorgan Chase & Co. stock in a transaction on Friday, February 16th. The shares were sold at an average price of $178.96, for a total transaction of $323,917.60. Following the completion of the sale, the insider now directly owns 44,956 shares of the company’s stock, valued at approximately $8,045,325.76. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,020,696 shares of company stock valued at $186,794,151. 0.79% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. Piper Sandler lowered 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, April 15th. Jefferies Financial Group raised their price target on shares of JPMorgan Chase & Co. from $202.00 to $228.00 and gave the company a “buy” rating in a research note on Monday, April 8th. Morgan Stanley reduced their price objective on shares of JPMorgan Chase & Co. from $221.00 to $216.00 and set an “overweight” rating on the stock in a research note on Monday, April 15th. Oppenheimer decreased their price objective on JPMorgan Chase & Co. from $219.00 to $217.00 and set an “outperform” rating for the company in a report on Monday, April 15th. Finally, Deutsche Bank Aktiengesellschaft raised JPMorgan Chase & Co. from a “hold” rating to a “buy” rating and lifted their target price for the stock from $140.00 to $190.00 in a report on Tuesday, January 9th. Eight analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, JPMorgan Chase & Co. presently has an average rating of “Moderate Buy” and an average target price of $192.05.

JPMorgan Chase & Co. 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.