GLOBALT Investments LLC GA Decreases Stock Position in JPMorgan Chase & Co. (NYSE:JPM)

GLOBALT Investments LLC GA reduced its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 1.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 74,742 shares of the financial services provider’s stock after selling 1,129 shares during the quarter. JPMorgan Chase & Co. makes up 0.7% of GLOBALT Investments LLC GA’s investment portfolio, making the stock its 22nd largest position. GLOBALT Investments LLC GA’s holdings in JPMorgan Chase & Co. were worth $17,916,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Midwest Capital Advisors LLC acquired a new position in shares of JPMorgan Chase & Co. during the 4th quarter worth approximately $43,000. Collier Financial purchased a new position in JPMorgan Chase & Co. during the fourth quarter worth $45,000. Lowe Wealth Advisors LLC raised its holdings in shares of JPMorgan Chase & Co. by 34.0% in the fourth quarter. Lowe Wealth Advisors LLC now owns 201 shares of the financial services provider’s stock worth $48,000 after acquiring an additional 51 shares during the last quarter. Kieckhefer Group LLC purchased a new stake in shares of JPMorgan Chase & Co. in the fourth quarter valued at $50,000. Finally, Legacy Investment Solutions LLC acquired a new stake in shares of JPMorgan Chase & Co. during the third quarter valued at $45,000. 71.55% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at JPMorgan Chase & Co.

In other news, insider Robin Leopold sold 1,250 shares of the company’s stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $270.09, for a total value of $337,612.50. Following the sale, 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 sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, General Counsel Stacey Friedman sold 3,303 shares of JPMorgan Chase & Co. stock in a transaction dated Thursday, January 16th. The stock was 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 76,848 shares of company stock worth $19,987,908 in the last 90 days. 0.79% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on JPM. Piper Sandler upped their target price on shares of JPMorgan Chase & Co. from $240.00 to $275.00 and gave the company an “overweight” rating in a report on Tuesday, December 3rd. Wolfe Research raised shares of JPMorgan Chase & Co. from a “peer perform” rating to an “outperform” rating and set a $269.00 price objective on the stock in a research note on Friday, January 3rd. Keefe, Bruyette & Woods lifted their target price on shares of JPMorgan Chase & Co. from $257.00 to $264.00 and gave the stock a “market perform” rating in a research note 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 research note on Thursday, January 16th. Finally, Barclays lifted their price objective 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. 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 MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $252.89.

JPMorgan Chase & Co. Stock Performance

Shares of JPM stock opened at $248.23 on Tuesday. JPMorgan Chase & Co. has a 52 week low of $179.20 and a 52 week high of $280.25. The company has a market cap of $694.07 billion, a PE ratio of 12.57, a P/E/G ratio of 2.83 and a beta of 1.10. The company has a current ratio of 0.88, a quick ratio of 0.89 and a debt-to-equity ratio of 1.24. The company’s fifty day simple moving average is $257.94 and its 200-day simple moving average is $239.71.

JPMorgan Chase & Co. (NYSE:JPM) last issued its 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 company had revenue of $42.77 billion during the quarter, compared to the consensus estimate of $41.90 billion. JPMorgan Chase & Co. had a return on equity of 16.99% and a net margin of 20.96%. The company’s revenue was up 10.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.04 earnings per share. As a group, equities research analysts anticipate that JPMorgan Chase & Co. will post 18.1 EPS for the current year.

JPMorgan Chase & Co. Increases Dividend

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

JPMorgan Chase & Co. 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.