Westchester Capital Management Inc. Has $20.68 Million Stock Holdings in JPMorgan Chase & Co. (NYSE:JPM)

Westchester Capital Management Inc. cut its stake in JPMorgan Chase & Co. (NYSE:JPM) by 3.8% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 86,281 shares of the financial services provider’s stock after selling 3,384 shares during the period. JPMorgan Chase & Co. accounts for approximately 5.2% of Westchester Capital Management Inc.’s portfolio, making the stock its 7th largest position. Westchester Capital Management Inc.’s holdings in JPMorgan Chase & Co. were worth $20,682,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the company. Midwest Capital Advisors LLC purchased a new stake in shares of JPMorgan Chase & Co. in the 4th quarter worth about $43,000. Peterson Financial Group Inc. bought a new stake in JPMorgan Chase & Co. during the third quarter worth about $45,000. Legacy Investment Solutions LLC purchased a new stake in JPMorgan Chase & Co. in the third quarter worth about $45,000. Collier Financial bought a new position in JPMorgan Chase & Co. during the 4th quarter valued at approximately $45,000. Finally, Lowe Wealth Advisors LLC increased its holdings in shares of JPMorgan Chase & Co. by 34.0% during the fourth quarter. Lowe Wealth Advisors LLC now owns 201 shares of the financial services provider’s stock valued at $48,000 after acquiring an additional 51 shares in the last quarter. 71.55% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, General Counsel Stacey Friedman sold 3,303 shares of the firm’s stock in a transaction that occurred 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 transaction, the general counsel now directly owns 47,620 shares of the company’s stock, valued at approximately $12,092,622.80. This trade represents a 6.49 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Robin Leopold sold 1,250 shares of the firm’s stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $270.09, for a total value of $337,612.50. Following the transaction, the insider now owns 50,377 shares in the company, valued at approximately $13,606,323.93. This represents a 2.42 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 46,326 shares of company stock valued at $12,448,445 over the last three months. 0.79% of the stock is owned by company insiders.

JPMorgan Chase & Co. Stock Down 0.1 %

NYSE JPM opened at $238.86 on Friday. The stock has a 50 day moving average price of $257.83 and a 200-day moving average price of $239.11. JPMorgan Chase & Co. has a one year low of $179.20 and a one year high of $280.25. 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 company has a market capitalization of $667.89 billion, a P/E ratio of 12.10, a P/E/G ratio of 2.83 and a beta of 1.10.

JPMorgan Chase & Co. (NYSE:JPM) last announced its earnings results on Wednesday, January 15th. The financial services provider reported $4.81 earnings per share (EPS) 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 for the quarter, compared to analysts’ expectations of $41.90 billion. During the same period in the prior year, the company earned $3.04 EPS. The business’s revenue was up 10.9% compared to the same quarter last year. As a group, equities analysts predict that JPMorgan Chase & Co. will post 18.1 EPS for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Friday, April 4th will be given a $1.40 dividend. The ex-dividend date of this dividend is Friday, April 4th. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.25. This represents a $5.60 dividend on an annualized basis and a yield of 2.34%. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is currently 28.37%.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Robert W. Baird raised JPMorgan Chase & Co. from an “underperform” rating to a “neutral” rating and upped their price objective for the company from $215.00 to $220.00 in a research report on Friday, March 7th. Bank of America upped their price objective on JPMorgan Chase & Co. from $260.00 to $280.00 and gave the company a “buy” rating in a research report on Tuesday, January 7th. Baird R W upgraded JPMorgan Chase & Co. from a “strong sell” rating to a “hold” rating in a research note on Friday, March 7th. Barclays upped their price target on shares of JPMorgan Chase & Co. from $304.00 to $330.00 and gave the company an “overweight” rating in a research report on Thursday, January 16th. Finally, Truist Financial lifted their target price on JPMorgan Chase & Co. from $260.00 to $268.00 and gave the company a “hold” rating in a research report on Thursday, January 16th. Ten equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $252.89.

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.