Cibc World Markets Corp Sells 66,705 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Cibc World Markets Corp lowered its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 6.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 967,703 shares of the financial services provider’s stock after selling 66,705 shares during the period. JPMorgan Chase & Co. accounts for about 1.4% of Cibc World Markets Corp’s investment portfolio, making the stock its 11th largest position. Cibc World Markets Corp’s holdings in JPMorgan Chase & Co. were worth $231,968,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of the stock. Geode Capital Management LLC grew its holdings in JPMorgan Chase & Co. by 0.9% during the 3rd quarter. Geode Capital Management LLC now owns 58,344,186 shares of the financial services provider’s stock valued at $12,258,346,000 after buying an additional 505,830 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of JPMorgan Chase & Co. by 0.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 20,103,063 shares of the financial services provider’s stock valued at $4,818,905,000 after purchasing an additional 71,122 shares in the last quarter. Fisher Asset Management LLC increased its position in JPMorgan Chase & Co. by 3.7% in the fourth quarter. Fisher Asset Management LLC now owns 17,401,436 shares of the financial services provider’s stock worth $4,171,298,000 after purchasing an additional 617,164 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in JPMorgan Chase & Co. by 2.0% during 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 valued at $3,180,806,000 after purchasing an additional 302,592 shares in the last quarter. Finally, Franklin Resources Inc. grew its stake in shares of JPMorgan Chase & Co. by 7.2% in the 3rd quarter. Franklin Resources Inc. now owns 15,073,193 shares of the financial services provider’s stock worth $3,338,955,000 after buying an additional 1,016,289 shares in the last quarter. Hedge funds and other institutional investors own 71.55% of the company’s stock.

JPMorgan Chase & Co. Stock Performance

JPM stock opened at $248.23 on Tuesday. JPMorgan Chase & Co. has a 1-year low of $179.20 and a 1-year high of $280.25. The business has a 50-day moving average price of $257.94 and a 200 day moving average price of $239.71. The company has a market capitalization of $694.07 billion, a P/E ratio of 12.57, a PEG ratio of 2.83 and a beta of 1.10. 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. (NYSE:JPM) last posted its quarterly earnings results on Wednesday, January 15th. The financial services provider reported $4.81 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 business had revenue of $42.77 billion during the quarter, compared to analyst estimates of $41.90 billion. During the same quarter in the previous year, the business posted $3.04 EPS. The company’s quarterly revenue was up 10.9% compared to the same quarter last year. As a group, equities research analysts forecast that JPMorgan Chase & Co. will post 18.1 EPS for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Friday, April 4th will be issued a dividend of $1.40 per share. The ex-dividend date of this dividend is Friday, April 4th. This represents a $5.60 dividend on an annualized basis and a yield of 2.26%. This is a positive change from JPMorgan Chase & Co.’s previous quarterly dividend of $1.25. JPMorgan Chase & Co.’s dividend payout ratio is currently 28.37%.

Insider Activity

In other news, CEO Troy L. Rohrbaugh sold 37,500 shares of the firm’s stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $269.84, for a total value of $10,119,000.00. Following the sale, the chief executive officer now directly owns 158,381 shares in the company, valued at approximately $42,737,529.04. This trade represents a 19.14 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, General Counsel Stacey Friedman sold 3,303 shares of JPMorgan Chase & Co. stock in a transaction that occurred on Thursday, January 16th. The stock was sold at an average price of $253.94, for a total transaction of $838,763.82. Following the completion of the transaction, the general counsel now directly owns 47,620 shares in the company, valued at approximately $12,092,622.80. The trade was a 6.49 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 76,848 shares of company stock worth $19,987,908. 0.79% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several brokerages have recently issued reports on JPM. Bank of America upped their target price on shares of 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 raised JPMorgan Chase & Co. from a “strong sell” rating to a “hold” rating in a research note on Friday, March 7th. Barclays boosted their target price on JPMorgan Chase & Co. from $304.00 to $330.00 and gave the company an “overweight” rating in a research report on Thursday, January 16th. Piper Sandler lifted their price objective on shares of JPMorgan Chase & Co. from $240.00 to $275.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 3rd. Finally, Wolfe Research raised shares of JPMorgan Chase & Co. from a “peer perform” rating to an “outperform” rating and set a $269.00 target price on the stock in a research note on Friday, January 3rd. Ten investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus 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.