Cannon Financial Strategists Inc. Increases Stock Position in JPMorgan Chase & Co. (NYSE:JPM)

Cannon Financial Strategists Inc. raised its stake in JPMorgan Chase & Co. (NYSE:JPM) by 6.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,542 shares of the financial services provider’s stock after acquiring an additional 97 shares during the period. Cannon Financial Strategists Inc.’s holdings in JPMorgan Chase & Co. were worth $370,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Insiders Place Their Bets

In other JPMorgan Chase & Co. news, CEO Troy L. Rohrbaugh sold 37,500 shares of JPMorgan Chase & Co. stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $269.84, for a total value of $10,119,000.00. Following the completion of the sale, the chief executive officer now owns 158,381 shares in the company, valued at $42,737,529.04. The trade was a 19.14 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, General Counsel Stacey Friedman sold 3,303 shares of the company’s stock in a transaction dated Thursday, January 16th. The shares were sold at an average price of $253.94, for a total transaction of $838,763.82. Following the transaction, the general counsel now directly owns 47,620 shares of the company’s stock, valued at approximately $12,092,622.80. This represents a 6.49 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 46,326 shares of company stock valued at $12,448,445 in the last quarter. 0.79% of the stock is currently owned by company insiders.

JPMorgan Chase & Co. Stock Performance

NYSE JPM opened at $264.56 on Friday. The company has a quick ratio of 0.89, a current ratio of 0.88 and a debt-to-equity ratio of 1.24. JPMorgan Chase & Co. has a fifty-two week low of $179.20 and a fifty-two week high of $280.25. The business has a fifty day moving average of $258.55 and a 200-day moving average of $236.93. The stock has a market cap of $739.74 billion, a price-to-earnings ratio of 13.40, a price-to-earnings-growth ratio of 2.83 and a beta of 1.12.

JPMorgan Chase & Co. (NYSE:JPM) last announced its earnings results on Wednesday, January 15th. The financial services provider reported $4.81 earnings per share for the quarter, beating the consensus estimate 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 firm had revenue of $42.77 billion during the quarter, compared to the consensus estimate of $41.90 billion. During the same quarter in the previous year, the company posted $3.04 EPS. The firm’s revenue for the quarter was up 10.9% on a year-over-year basis. As a group, analysts predict that JPMorgan Chase & Co. will post 18.1 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Announces Dividend

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

Analyst Upgrades and Downgrades

JPM has been the topic of a number of recent research reports. Truist Financial boosted their target price on JPMorgan Chase & Co. from $260.00 to $268.00 and gave the company a “hold” rating in a report on Thursday, January 16th. Keefe, Bruyette & Woods increased 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 report on Thursday, January 16th. Piper Sandler lifted their price objective on JPMorgan Chase & Co. from $240.00 to $275.00 and gave the company an “overweight” rating in a report on Tuesday, December 3rd. Barclays increased their target price on JPMorgan Chase & Co. from $304.00 to $330.00 and gave the stock an “overweight” rating in a research note on Thursday, January 16th. Finally, Wells Fargo & Company upped their price objective on JPMorgan Chase & Co. from $240.00 to $270.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. Two equities research 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 data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $251.78.

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.