Sterling Group Wealth Management LLC Sells 99 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Sterling Group Wealth Management LLC lowered its stake in JPMorgan Chase & Co. (NYSE:JPM) by 2.4% in the 4th quarter, HoldingsChannel.com reports. The firm owned 3,981 shares of the financial services provider’s stock after selling 99 shares during the period. JPMorgan Chase & Co. comprises 0.5% of Sterling Group Wealth Management LLC’s holdings, making the stock its 20th largest position. Sterling Group Wealth Management LLC’s holdings in JPMorgan Chase & Co. were worth $954,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Mizuho Securities Co. Ltd. purchased a new position in shares of JPMorgan Chase & Co. during the third quarter valued at approximately $25,000. Catalyst Capital Advisors LLC purchased a new position in shares of JPMorgan Chase & Co. during the third quarter valued at approximately $27,000. West Financial Advisors LLC purchased a new position in shares of JPMorgan Chase & Co. during the third quarter valued at approximately $37,000. New England Capital Financial Advisors LLC increased its stake in shares of JPMorgan Chase & Co. by 38.5% during the third quarter. New England Capital Financial Advisors LLC now owns 180 shares of the financial services provider’s stock valued at $38,000 after buying an additional 50 shares during the period. Finally, Carolina Wealth Advisors LLC increased its stake in shares of JPMorgan Chase & Co. by 36.0% during the third quarter. Carolina Wealth Advisors LLC now owns 189 shares of the financial services provider’s stock valued at $40,000 after buying an additional 50 shares during the period. Institutional investors own 71.55% of the company’s stock.

Wall Street Analysts Forecast Growth

JPM has been the topic of several research analyst reports. Wolfe Research raised 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. Evercore ISI upped their price target on JPMorgan Chase & Co. from $217.00 to $230.00 and gave the stock an “outperform” rating in a research note on Monday, October 14th. Piper Sandler upped their price target on JPMorgan Chase & Co. from $240.00 to $275.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 3rd. Citigroup upped their price target on JPMorgan Chase & Co. from $215.00 to $250.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 19th. Finally, Daiwa Capital Markets reduced their price target on JPMorgan Chase & Co. from $240.00 to $235.00 and set an “overweight” rating on the stock in a research note on Thursday, October 10th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $251.78.

View Our Latest Stock Report on JPM

JPMorgan Chase & Co. Trading Up 0.4 %

NYSE JPM opened at $266.94 on Wednesday. The stock has a market cap of $751.53 billion, a P/E ratio of 13.52, a P/E/G ratio of 2.83 and a beta of 1.11. The company has a current ratio of 0.88, a quick ratio of 0.89 and a debt-to-equity ratio of 1.24. JPMorgan Chase & Co. has a 12 month low of $171.30 and a 12 month high of $267.33. The stock’s fifty day moving average price is $246.08 and its 200-day moving average price is $226.92.

JPMorgan Chase & Co. (NYSE:JPMGet Free Report) last announced its quarterly earnings results on Wednesday, January 15th. The financial services provider reported $4.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.03 by $0.78. The firm had revenue of $42.77 billion for 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 quarterly revenue was up 10.9% on a year-over-year basis. During the same period in the prior year, the company posted $3.04 earnings per share. As a group, equities analysts forecast that JPMorgan Chase & Co. will post 17.82 EPS for the current fiscal year.

JPMorgan Chase & Co. Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Monday, January 6th will be issued a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a dividend yield of 1.87%. The ex-dividend date of this dividend is Monday, January 6th. JPMorgan Chase & Co.’s payout ratio is currently 25.33%.

Insider Activity

In other news, General Counsel Stacey Friedman sold 3,303 shares of the company’s stock in a transaction 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 transaction, the general counsel now directly owns 47,620 shares of the company’s stock, valued at $12,092,622.80. This represents a 6.49 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 0.79% of the company’s stock.

JPMorgan Chase & Co. Company Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for JPMorgan Chase & Co. (NYSE:JPM)

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