Carnegie Lake Advisors LLC Decreases Stock Holdings in JPMorgan Chase & Co. (NYSE:JPM)

Carnegie Lake Advisors LLC cut its stake in JPMorgan Chase & Co. (NYSE:JPM) by 2.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 21,334 shares of the financial services provider’s stock after selling 575 shares during the period. JPMorgan Chase & Co. comprises approximately 2.1% of Carnegie Lake Advisors LLC’s portfolio, making the stock its 11th largest position. Carnegie Lake Advisors LLC’s holdings in JPMorgan Chase & Co. were worth $5,114,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Essex Financial Services Inc. lifted its position in JPMorgan Chase & Co. by 2.4% in the fourth quarter. Essex Financial Services Inc. now owns 68,188 shares of the financial services provider’s stock valued at $16,345,000 after acquiring an additional 1,596 shares during the last quarter. Violich Capital Management Inc. lifted its position in JPMorgan Chase & Co. by 1.7% in the fourth quarter. Violich Capital Management Inc. now owns 20,125 shares of the financial services provider’s stock valued at $4,824,000 after acquiring an additional 330 shares during the last quarter. Summit Trail Advisors LLC increased its stake in JPMorgan Chase & Co. by 13.8% in the fourth quarter. Summit Trail Advisors LLC now owns 89,722 shares of the financial services provider’s stock valued at $21,507,000 after purchasing an additional 10,879 shares during the period. Focus Financial Network Inc. increased its stake in JPMorgan Chase & Co. by 1.7% in the fourth quarter. Focus Financial Network Inc. now owns 34,737 shares of the financial services provider’s stock valued at $8,327,000 after purchasing an additional 594 shares during the period. Finally, Sapient Capital LLC increased its stake in JPMorgan Chase & Co. by 2.3% in the fourth quarter. Sapient Capital LLC now owns 478,094 shares of the financial services provider’s stock valued at $114,604,000 after purchasing an additional 10,621 shares during the period. 71.55% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at JPMorgan Chase & Co.

In other news, General Counsel Stacey Friedman sold 3,303 shares of JPMorgan Chase & Co. stock in a transaction that occurred on Thursday, January 16th. The shares were sold at an average price of $253.94, for a total value of $838,763.82. Following the transaction, the general counsel now owns 47,620 shares of the company’s stock, valued at $12,092,622.80. The trade was a 6.49 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 0.79% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms have commented on JPM. Piper Sandler lifted their price objective on shares of JPMorgan Chase & Co. from $240.00 to $275.00 and gave the company an “overweight” rating in a research note on Tuesday, December 3rd. Oppenheimer lowered shares of JPMorgan Chase & Co. from an “outperform” rating to a “market perform” rating in a research note on Wednesday, November 20th. Bank of America lifted their price objective on shares of JPMorgan Chase & Co. from $260.00 to $280.00 and gave the company a “buy” rating in a research note on Tuesday, January 7th. Keefe, Bruyette & Woods boosted their price target on shares of JPMorgan Chase & Co. from $257.00 to $264.00 and gave the stock a “market perform” rating in a research note on Thursday, January 16th. Finally, Wells Fargo & Company boosted their price target on shares of JPMorgan Chase & Co. from $240.00 to $270.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and ten have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $251.78.

JPMorgan Chase & Co. Trading Down 0.2 %

JPMorgan Chase & Co. stock opened at $279.30 on Thursday. The firm’s 50-day moving average is $255.13 and its 200-day moving average is $234.26. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.89 and a current ratio of 0.88. JPMorgan Chase & Co. has a 1 year low of $178.40 and a 1 year high of $280.25. The company has a market cap of $786.31 billion, a P/E ratio of 14.15, a PEG ratio of 2.93 and a beta of 1.12.

JPMorgan Chase & Co. (NYSE:JPM) last posted its quarterly earnings results on Wednesday, January 15th. The financial services provider reported $4.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.03 by $0.78. JPMorgan Chase & Co. had a net margin of 20.96% and a return on equity of 16.99%. The company had revenue of $42.77 billion for the quarter, compared to the consensus estimate of $41.90 billion. During the same period last year, the firm posted $3.04 EPS. The company’s revenue for the quarter was up 10.9% on a year-over-year basis. On average, equities analysts expect that JPMorgan Chase & Co. will post 18.1 earnings per share for the current year.

JPMorgan Chase & Co. Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Monday, January 6th were paid a dividend of $1.25 per share. The ex-dividend date was Monday, January 6th. This represents a $5.00 annualized dividend and a yield of 1.79%. JPMorgan Chase & Co.’s payout ratio is 25.33%.

JPMorgan Chase & Co. Company Profile

JPMorgan Chase & Co is a financial holding company, which engages in the provision of financial and investment banking services. The firm offers a range of investment banking products and services in all capital markets, including advising on corporate strategy and structure, capital raising in equity and debt markets, risk management, market making in cash securities and derivative instruments, and brokerage and research.