JPMorgan Chase & Co. (NYSE:JPM) Stock Position Trimmed by RNC Capital Management LLC

RNC Capital Management LLC lessened its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 1.1% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 399,364 shares of the financial services provider’s stock after selling 4,288 shares during the period. JPMorgan Chase & Co. makes up approximately 4.1% of RNC Capital Management LLC’s holdings, making the stock its largest holding. RNC Capital Management LLC’s holdings in JPMorgan Chase & Co. were worth $67,932,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of JPM. Cantor Fitzgerald Investment Advisor L.P raised its holdings in JPMorgan Chase & Co. by 81.1% during the 1st quarter. Cantor Fitzgerald Investment Advisor L.P now owns 222,422 shares of the financial services provider’s stock valued at $30,321,000 after buying an additional 99,636 shares during the period. BCK Partners Inc. purchased a new stake in JPMorgan Chase & Co. during the 1st quarter valued at $2,455,000. LSV Asset Management raised its holdings in JPMorgan Chase & Co. by 35.6% during the 1st quarter. LSV Asset Management now owns 37,300 shares of the financial services provider’s stock valued at $5,085,000 after buying an additional 9,800 shares during the period. Wsfs Capital Management LLC increased its stake in JPMorgan Chase & Co. by 70.8% in the first quarter. Wsfs Capital Management LLC now owns 4,221 shares of the financial services provider’s stock worth $575,000 after purchasing an additional 1,749 shares during the period. Finally, Lumature Wealth Partners LLC increased its stake in JPMorgan Chase & Co. by 1,451.4% in the first quarter. Lumature Wealth Partners LLC now owns 3,770 shares of the financial services provider’s stock worth $514,000 after purchasing an additional 3,527 shares during the period. Hedge funds and other institutional investors own 71.55% of the company’s stock.

Insider Buying and Selling

In related news, insider Lori A. Beer sold 3,920 shares of JPMorgan Chase & Co. stock in a transaction dated Monday, March 25th. The stock was sold at an average price of $195.36, for a total transaction of $765,811.20. Following the completion of the sale, the insider now owns 64,783 shares of the company’s stock, valued at $12,656,006.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other JPMorgan Chase & Co. news, insider Lori A. Beer sold 3,920 shares of the business’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 completion of the transaction, the insider now directly owns 64,783 shares of the company’s stock, valued at $12,656,006.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, General Counsel Stacey Friedman sold 6,030 shares of the business’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 value of $1,101,861.90. Following the completion of the transaction, the general counsel now directly owns 59,456 shares of the company’s stock, valued at $10,864,394.88. The disclosure for this sale can be found here. Insiders sold 849,303 shares of company stock valued at $155,107,447 over the last quarter. 0.79% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of analysts have weighed in on JPM shares. Bank of America increased their target price on JPMorgan Chase & Co. from $177.00 to $188.00 and gave the stock a “buy” rating in a research note on Thursday, January 4th. Deutsche Bank Aktiengesellschaft upgraded JPMorgan Chase & Co. from a “hold” rating to a “buy” rating and increased their target price for the stock from $140.00 to $190.00 in a research note on Tuesday, January 9th. Piper Sandler increased their target price on JPMorgan Chase & Co. from $190.00 to $200.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 16th. Royal Bank of Canada reiterated an “outperform” rating and issued a $185.00 target price on shares of JPMorgan Chase & Co. in a research note on Wednesday, March 20th. Finally, Morgan Stanley increased their target price on JPMorgan Chase & Co. from $191.00 to $221.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 30th. Eight research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $181.63.

JPMorgan Chase & Co. Price Performance

Shares of JPM stock opened at $200.29 on Friday. JPMorgan Chase & Co. has a fifty-two week low of $126.22 and a fifty-two week high of $200.72. The firm has a market capitalization of $576.91 billion, a price-to-earnings ratio of 12.35, a PEG ratio of 2.49 and a beta of 1.14. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.91 and a current ratio of 0.91. The stock’s 50-day simple moving average is $182.22 and its 200-day simple moving average is $163.62.

JPMorgan Chase & Co. (NYSE:JPM) last released its earnings results on Friday, January 12th. The financial services provider reported $3.04 EPS for the quarter, missing analysts’ consensus estimates of $3.73 by ($0.69). JPMorgan Chase & Co. had a return on equity of 17.80% and a net margin of 20.70%. The firm had revenue of $38.57 billion for the quarter, compared to analyst estimates of $39.73 billion. During the same period last year, the firm earned $3.57 EPS. The company’s revenue for the quarter was up 11.7% compared to the same quarter last year. As a group, equities analysts forecast that JPMorgan Chase & Co. will post 15.75 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Friday, April 5th will be issued a dividend of $1.15 per share. 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 2.30%. JPMorgan Chase & Co.’s payout ratio is 25.89%.

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.