Transcend Capital Advisors LLC Reduces Position in JPMorgan Chase & Co. (NYSE:JPM)

Transcend Capital Advisors LLC decreased its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 12.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 69,719 shares of the financial services provider’s stock after selling 10,019 shares during the quarter. JPMorgan Chase & Co. comprises 1.2% of Transcend Capital Advisors LLC’s holdings, making the stock its 11th biggest position. Transcend Capital Advisors LLC’s holdings in JPMorgan Chase & Co. were worth $16,712,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in JPM. Geode Capital Management LLC raised its stake in JPMorgan Chase & Co. by 0.9% in the 3rd quarter. Geode Capital Management LLC now owns 58,344,186 shares of the financial services provider’s stock worth $12,258,346,000 after acquiring an additional 505,830 shares during the last quarter. Fisher Asset Management LLC increased its holdings in shares of JPMorgan Chase & Co. by 31.7% in the third quarter. Fisher Asset Management LLC now owns 16,784,272 shares of the financial services provider’s stock valued at $3,539,132,000 after purchasing an additional 4,043,841 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of JPMorgan Chase & Co. by 2.0% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 15,084,919 shares of the financial services provider’s stock worth $3,180,806,000 after purchasing an additional 302,592 shares during the last quarter. Franklin Resources Inc. lifted its holdings in shares of JPMorgan Chase & Co. by 7.2% during the third quarter. Franklin Resources Inc. now owns 15,073,193 shares of the financial services provider’s stock worth $3,338,955,000 after purchasing an additional 1,016,289 shares during the period. Finally, Sanders Capital LLC boosted its position in JPMorgan Chase & Co. by 0.6% in the third quarter. Sanders Capital LLC now owns 8,194,767 shares of the financial services provider’s stock valued at $1,727,949,000 after buying an additional 49,695 shares during the last quarter. Hedge funds and other institutional investors own 71.55% of the company’s stock.

Analyst Upgrades and Downgrades

JPM has been the subject of several research reports. Wells Fargo & Company lifted their price objective on shares of JPMorgan Chase & Co. from $240.00 to $270.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. UBS Group upped their price target on shares of JPMorgan Chase & Co. from $276.00 to $287.00 and gave the company a “buy” rating in a report on Thursday, January 16th. Truist Financial lifted their price objective on JPMorgan Chase & Co. from $260.00 to $268.00 and gave the company a “hold” rating in a research note on Thursday, January 16th. Bank of America upped their target price on JPMorgan Chase & Co. from $260.00 to $280.00 and gave the stock a “buy” rating in a research note on Tuesday, January 7th. Finally, Wolfe Research upgraded JPMorgan Chase & Co. from a “peer perform” rating to an “outperform” rating and set a $269.00 price target for the company in a research report on Friday, January 3rd. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $251.78.

JPMorgan Chase & Co. Stock Performance

NYSE:JPM opened at $260.25 on Tuesday. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.89 and a current ratio of 0.88. The stock has a market capitalization of $727.69 billion, a PE ratio of 13.18, a P/E/G ratio of 2.83 and a beta of 1.12. JPMorgan Chase & Co. has a fifty-two week low of $179.20 and a fifty-two week high of $280.25. The company has a fifty day moving average of $258.99 and a two-hundred day moving average of $237.67.

JPMorgan Chase & Co. (NYSE:JPM) last released its quarterly earnings results on Wednesday, January 15th. The financial services provider reported $4.81 earnings per share for the quarter, topping the consensus estimate of $4.03 by $0.78. The firm had revenue of $42.77 billion during the quarter, compared to the consensus estimate of $41.90 billion. JPMorgan Chase & Co. had a net margin of 20.96% and a return on equity of 16.99%. The company’s revenue for the quarter was up 10.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.04 EPS. As a group, research analysts forecast 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. Stockholders of record on Monday, January 6th were given a $1.25 dividend. The ex-dividend date was Monday, January 6th. This represents a $5.00 annualized dividend and a dividend yield of 1.92%. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is presently 25.33%.

Insider Activity

In other news, General Counsel Stacey Friedman sold 3,303 shares of the company’s stock in a transaction on Thursday, January 16th. The shares were sold at an average price of $253.94, for a total transaction of $838,763.82. Following the completion of the sale, the general counsel now owns 47,620 shares of the company’s stock, valued at $12,092,622.80. This represents a 6.49 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Robin Leopold sold 1,250 shares of the firm’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 completion of the transaction, the insider now directly owns 50,377 shares in the company, valued at approximately $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. Insiders have sold a total of 46,326 shares of company stock worth $12,448,445 over the last quarter. 0.79% of the stock is currently owned by corporate insiders.

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.