Kimelman & Baird LLC Sells 7,671 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Kimelman & Baird LLC cut its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 3.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 248,941 shares of the financial services provider’s stock after selling 7,671 shares during the quarter. JPMorgan Chase & Co. makes up 4.7% of Kimelman & Baird LLC’s portfolio, making the stock its 4th largest position. Kimelman & Baird LLC’s holdings in JPMorgan Chase & Co. were worth $59,674,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Disciplined Investments LLC bought a new position in shares of JPMorgan Chase & Co. in the fourth quarter worth about $217,000. LGT Group Foundation raised its position in shares of JPMorgan Chase & Co. by 2.8% during the fourth quarter. LGT Group Foundation now owns 525,801 shares of the financial services provider’s stock worth $126,040,000 after acquiring an additional 14,300 shares during the last quarter. Kinsale Capital Group Inc. raised its holdings in JPMorgan Chase & Co. by 11.1% during the 4th quarter. Kinsale Capital Group Inc. now owns 43,732 shares of the financial services provider’s stock worth $10,483,000 after purchasing an additional 4,375 shares during the last quarter. Jag Capital Management LLC lifted its position in JPMorgan Chase & Co. by 10.5% during the 4th quarter. Jag Capital Management LLC now owns 1,474 shares of the financial services provider’s stock valued at $353,000 after purchasing an additional 140 shares during the period. Finally, JPMorgan Chase & Co. boosted its stake in shares of JPMorgan Chase & Co. by 7.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 4,450,775 shares of the financial services provider’s stock valued at $938,491,000 after purchasing an additional 319,730 shares during the last quarter. 71.55% of the stock is owned by institutional investors.

JPMorgan Chase & Co. Stock Up 2.7 %

JPM stock opened at $248.23 on Tuesday. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.88 and a quick ratio of 0.89. The stock has a market capitalization of $694.07 billion, a P/E ratio of 12.57, a P/E/G ratio of 2.83 and a beta of 1.10. 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 50-day moving average of $257.94 and a 200-day moving average of $239.71.

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 analysts’ consensus estimates 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 return on equity of 16.99% and a net margin of 20.96%. The business’s revenue was up 10.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.04 EPS. On average, sell-side analysts anticipate that JPMorgan Chase & Co. will post 18.1 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

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

Insider Buying and Selling at JPMorgan Chase & Co.

In related news, COO Jennifer Piepszak sold 4,273 shares of JPMorgan Chase & Co. stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $269.85, for a total value of $1,153,069.05. Following the sale, the chief operating officer now owns 54,469 shares of the company’s stock, valued at approximately $14,698,459.65. The trade was a 7.27 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Stacey Friedman sold 3,303 shares of the stock in a transaction that occurred on Thursday, January 16th. The shares were sold at an average price of $253.94, for a total value of $838,763.82. Following the transaction, the general counsel now directly 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. In the last three months, insiders have sold 76,848 shares of company stock worth $19,987,908. Insiders own 0.79% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. Keefe, Bruyette & Woods boosted 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 research note on Thursday, January 16th. UBS Group upped their price objective on JPMorgan Chase & Co. from $276.00 to $287.00 and gave the company a “buy” rating in a report on Thursday, January 16th. Robert W. Baird upgraded JPMorgan Chase & Co. from an “underperform” rating to a “neutral” rating and raised their target price for the stock from $215.00 to $220.00 in a report on Friday, March 7th. Truist Financial increased their price target on shares of JPMorgan Chase & Co. from $260.00 to $268.00 and gave the company a “hold” rating in a research report on Thursday, January 16th. Finally, Barclays boosted their price objective on shares of JPMorgan Chase & Co. from $304.00 to $330.00 and gave the company an “overweight” rating in a report on Thursday, January 16th. Ten equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, JPMorgan Chase & Co. currently has a consensus rating of “Moderate Buy” and an average target price of $252.89.

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.