MONECO Advisors LLC Trims Position in JPMorgan Chase & Co. (NYSE:JPM)

MONECO Advisors LLC lessened its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 5.3% during the 4th quarter, Holdings Channel reports. The fund owned 13,316 shares of the financial services provider’s stock after selling 744 shares during the quarter. MONECO Advisors LLC’s holdings in JPMorgan Chase & Co. were worth $2,265,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of JPM. International Assets Investment Management LLC purchased a new position in shares of JPMorgan Chase & Co. during the 4th quarter worth $1,017,893,000. Wellington Management Group LLP raised its holdings in 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 valued at $6,151,997,000 after buying an additional 4,603,090 shares during the period. J.P. Morgan Private Wealth Advisors LLC purchased a new stake in JPMorgan Chase & Co. in the 3rd quarter valued at about $253,076,000. Cerity Partners LLC raised its holdings in JPMorgan Chase & Co. by 155.2% in the 4th quarter. Cerity Partners LLC now owns 2,246,582 shares of the financial services provider’s stock valued at $382,144,000 after buying an additional 1,366,360 shares during the period. Finally, Comerica Bank raised its holdings in JPMorgan Chase & Co. by 3,025.7% in the 3rd quarter. Comerica Bank now owns 1,267,455 shares of the financial services provider’s stock valued at $183,806,000 after buying an additional 1,226,905 shares during the period. Hedge funds and other institutional investors own 71.55% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on JPM. Wells Fargo & Company boosted their price objective on shares of JPMorgan Chase & Co. from $200.00 to $220.00 and gave the company an “overweight” rating in a report on Wednesday, March 20th. Oppenheimer reduced their price objective on shares of JPMorgan Chase & Co. from $219.00 to $217.00 and set an “outperform” rating on the stock in a report on Monday, April 15th. Evercore ISI boosted 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. Keefe, Bruyette & Woods boosted their price target on shares of JPMorgan Chase & Co. from $182.00 to $195.00 and gave the stock a “market perform” rating in a research note on Friday, April 5th. Finally, Piper Sandler cut their price target on shares of JPMorgan Chase & Co. from $220.00 to $215.00 and set an “overweight” rating on the stock in a research note on Monday, April 15th. Eight analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, JPMorgan Chase & Co. presently has a consensus rating of “Moderate Buy” and an average price target of $192.05.

Insider Activity at JPMorgan Chase & Co.

In related news, CEO Jennifer Piepszak sold 1,648 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 value of $294,926.08. Following the completion of the transaction, the chief executive officer now directly owns 32,819 shares of the company’s stock, valued at $5,873,288.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider Elena A. Korablina sold 21,829 shares of the stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $190.91, for a total value of $4,167,374.39. Following the completion of the sale, the insider now directly owns 6,484 shares of the company’s stock, valued at $1,237,860.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Jennifer Piepszak sold 1,648 shares of the 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 $294,926.08. Following the completion of the sale, the chief executive officer now directly owns 32,819 shares of the company’s stock, valued at $5,873,288.24. The disclosure for this sale can be found here. Insiders sold 1,042,525 shares of company stock valued at $190,961,526 over the last three months. 0.79% of the stock is owned by corporate insiders.

JPMorgan Chase & Co. Stock Performance

Shares of JPM opened at $191.96 on Tuesday. The stock has a 50 day moving average price of $191.58 and a 200 day moving average price of $172.82. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 1.29. The company has a market capitalization of $551.25 billion, a price-to-earnings ratio of 11.59, a price-to-earnings-growth ratio of 2.38 and a beta of 1.13. JPMorgan Chase & Co. has a 52-week low of $133.13 and a 52-week high of $200.94.

JPMorgan Chase & Co. (NYSE:JPM) last announced its quarterly earnings results on Friday, April 12th. The financial services provider reported $4.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.18 by $0.45. The firm had revenue of $41.93 billion during the quarter, compared to the consensus estimate of $40.90 billion. JPMorgan Chase & Co. had a return on equity of 17.79% and a net margin of 20.05%. Research analysts predict that JPMorgan Chase & Co. will post 15.98 EPS for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 30th. Investors of record on Friday, April 5th were issued a $1.15 dividend. This represents a $4.60 dividend on an annualized basis and a yield of 2.40%. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.05. The ex-dividend date was Thursday, April 4th. JPMorgan Chase & Co.’s dividend payout ratio is 27.78%.

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.