JPMorgan Chase & Co. (NYSE:JPM) Shares Sold by Penobscot Investment Management Company Inc.

Penobscot Investment Management Company Inc. cut its position in JPMorgan Chase & Co. (NYSE:JPM) by 0.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 134,226 shares of the financial services provider’s stock after selling 301 shares during the quarter. JPMorgan Chase & Co. makes up about 2.9% of Penobscot Investment Management Company Inc.’s holdings, making the stock its 5th biggest position. Penobscot Investment Management Company Inc.’s holdings in JPMorgan Chase & Co. were worth $32,175,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Morey & Quinn Wealth Partners LLC bought a new position in JPMorgan Chase & Co. in the 4th quarter worth approximately $357,000. Ipsen Advisor Group LLC bought a new stake in shares of JPMorgan Chase & Co. in the fourth quarter valued at approximately $655,000. Trust Investment Advisors grew its stake in shares of JPMorgan Chase & Co. by 4.4% in the fourth quarter. Trust Investment Advisors now owns 10,331 shares of the financial services provider’s stock worth $2,476,000 after acquiring an additional 439 shares during the last quarter. Murphy & Mullick Capital Management Corp bought a new position in JPMorgan Chase & Co. during the fourth quarter worth $484,000. Finally, Momentous Wealth Management Inc. acquired a new position in JPMorgan Chase & Co. during the 4th quarter valued at $286,000. Institutional investors and hedge funds own 71.55% of the company’s stock.

Insider Activity

In other JPMorgan Chase & Co. news, CEO Troy L. Rohrbaugh sold 37,500 shares of the stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $269.84, for a total value of $10,119,000.00. Following the transaction, 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 sale 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 the business’s stock in a transaction on Thursday, January 16th. The stock was sold at an average price of $253.94, for a total value of $838,763.82. Following the sale, the general counsel now owns 47,620 shares of the company’s stock, 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. Insiders have sold 76,848 shares of company stock valued at $19,987,908 over the last three months. 0.79% of the stock is owned by insiders.

JPMorgan Chase & Co. Trading Down 2.1 %

JPM stock opened at $242.97 on Monday. The business has a fifty day moving average price of $257.55 and a 200 day moving average price of $240.77. 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. has a fifty-two week low of $179.20 and a fifty-two week high of $280.25. The stock has a market capitalization of $679.36 billion, a price-to-earnings ratio of 12.31, 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 for the quarter, beating analysts’ consensus estimates of $4.03 by $0.78. The company had revenue of $42.77 billion during the quarter, compared to analyst estimates of $41.90 billion. JPMorgan Chase & Co. had a return on equity of 16.99% and a net margin of 20.96%. The firm’s quarterly revenue was up 10.9% compared to the same quarter last year. During the same period last year, the company posted $3.04 earnings per share. Analysts expect 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. Stockholders of record on Friday, April 4th will be given a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a dividend yield of 2.30%. This is a positive change from JPMorgan Chase & Co.’s previous quarterly dividend of $1.25. The ex-dividend date is Friday, April 4th. JPMorgan Chase & Co.’s dividend payout ratio is presently 28.37%.

Analysts Set New Price Targets

Several research analysts have recently issued reports on JPM shares. Wolfe Research upgraded 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 report on Friday, January 3rd. Piper Sandler boosted their price target on JPMorgan Chase & Co. from $240.00 to $275.00 and gave the company an “overweight” rating in a research note on Tuesday, December 3rd. Truist Financial raised their price objective on JPMorgan Chase & Co. from $260.00 to $268.00 and gave the stock a “hold” rating in a research report on Thursday, January 16th. UBS Group boosted their price objective on JPMorgan Chase & Co. from $276.00 to $287.00 and gave the company a “buy” rating in a research report on Thursday, January 16th. Finally, Robert W. Baird raised 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 research report on Friday, March 7th. Ten analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, the company 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. It focuses on investment banking, financial services for consumers and small businesses, commercial banking, financial transaction processing, and asset management. It operates through the following segments: Consumer and Community Banking (CCB), Commercial and Investment Bank (CIB), Asset and Wealth Management (AWM), and Corporate.