Center for Financial Planning Inc. Sells 536 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Center for Financial Planning Inc. cut its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 3.1% during the fourth quarter, HoldingsChannel.com reports. The firm owned 16,875 shares of the financial services provider’s stock after selling 536 shares during the quarter. JPMorgan Chase & Co. makes up 0.5% of Center for Financial Planning Inc.’s portfolio, making the stock its 13th biggest position. Center for Financial Planning Inc.’s holdings in JPMorgan Chase & Co. were worth $4,045,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of JPM. Mizuho Securities Co. Ltd. bought a new stake in JPMorgan Chase & Co. in the third quarter valued at about $25,000. Catalyst Capital Advisors LLC acquired a new position in shares of JPMorgan Chase & Co. during the 3rd quarter worth about $27,000. New England Capital Financial Advisors LLC increased its stake in shares of JPMorgan Chase & Co. by 38.5% in the 3rd quarter. New England Capital Financial Advisors LLC now owns 180 shares of the financial services provider’s stock valued at $38,000 after acquiring an additional 50 shares during the last quarter. Peterson Financial Group Inc. acquired a new stake in shares of JPMorgan Chase & Co. in the 3rd quarter valued at approximately $45,000. Finally, Legacy Investment Solutions LLC bought a new position in JPMorgan Chase & Co. during the 3rd quarter worth approximately $45,000. Institutional investors own 71.55% of the company’s stock.

Insider Buying and Selling

In other news, General Counsel Stacey Friedman sold 3,303 shares of JPMorgan Chase & Co. stock in a transaction dated Thursday, January 16th. The shares were sold at an average price of $253.94, for a total value of $838,763.82. Following the completion of the transaction, the general counsel now owns 47,620 shares of the company’s stock, valued at $12,092,622.80. This trade represents a 6.49 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Robin Leopold sold 1,250 shares of the business’s stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $270.09, for a total transaction of $337,612.50. Following the transaction, the insider now owns 50,377 shares in the company, valued at $13,606,323.93. This represents a 2.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 46,326 shares of company stock worth $12,448,445. Insiders own 0.79% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on JPM. Barclays upped their target price on shares of JPMorgan Chase & Co. from $304.00 to $330.00 and gave the company an “overweight” rating in a research note on Thursday, January 16th. Piper Sandler upped 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 report on Tuesday, December 3rd. UBS Group lifted their target price on JPMorgan Chase & Co. from $276.00 to $287.00 and gave the stock a “buy” rating in a report on Thursday, January 16th. Truist Financial increased their price target on JPMorgan Chase & Co. from $260.00 to $268.00 and gave the stock a “hold” rating in a report on Thursday, January 16th. Finally, Bank of America lifted their price objective on JPMorgan Chase & Co. from $260.00 to $280.00 and gave the company a “buy” rating in a report on Tuesday, January 7th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $251.78.

JPMorgan Chase & Co. Trading Down 1.0 %

JPMorgan Chase & Co. stock opened at $264.14 on Monday. The company has a market cap of $738.56 billion, a price-to-earnings ratio of 13.38, a P/E/G ratio of 2.83 and a beta of 1.12. The firm has a 50-day moving average of $256.12 and a 200-day moving average of $235.45. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.88 and a quick ratio of 0.89. JPMorgan Chase & Co. has a one year low of $179.20 and a one year high of $280.25.

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

JPMorgan Chase & Co. Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Monday, January 6th were paid a $1.25 dividend. The ex-dividend date was Monday, January 6th. This represents a $5.00 annualized dividend and a dividend yield of 1.89%. JPMorgan Chase & Co.’s dividend payout ratio is presently 25.33%.

About JPMorgan Chase & Co.

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.