Convergence Investment Partners LLC Has $4.20 Million Holdings in JPMorgan Chase & Co. (NYSE:JPM)

Convergence Investment Partners LLC lessened its position in shares of JPMorgan Chase & Co. (NYSE:JPM) by 15.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 17,511 shares of the financial services provider’s stock after selling 3,264 shares during the quarter. JPMorgan Chase & Co. makes up about 0.9% of Convergence Investment Partners LLC’s investment portfolio, making the stock its 22nd largest position. Convergence Investment Partners LLC’s holdings in JPMorgan Chase & Co. were worth $4,198,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of JPM. JPMorgan Chase & Co. lifted its position in shares of JPMorgan Chase & Co. by 7.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 4,450,775 shares of the financial services provider’s stock worth $938,491,000 after buying an additional 319,730 shares during the period. Kingsview Wealth Management LLC lifted its position in shares of JPMorgan Chase & Co. by 2.5% during the 3rd quarter. Kingsview Wealth Management LLC now owns 118,095 shares of the financial services provider’s stock worth $24,902,000 after buying an additional 2,839 shares during the period. Brighton Jones LLC lifted its position in shares of JPMorgan Chase & Co. by 11.0% during the 4th quarter. Brighton Jones LLC now owns 48,732 shares of the financial services provider’s stock worth $11,682,000 after buying an additional 4,841 shares during the period. Zions Bancorporation N.A. lifted its position in shares of JPMorgan Chase & Co. by 2.5% during the 3rd quarter. Zions Bancorporation N.A. now owns 11,157 shares of the financial services provider’s stock worth $2,353,000 after buying an additional 267 shares during the period. Finally, Algert Global LLC bought a new position in shares of JPMorgan Chase & Co. during the 3rd quarter worth approximately $3,017,000. Institutional investors and hedge funds own 71.55% of the company’s stock.

Insider Buying and Selling

In other JPMorgan Chase & Co. news, insider Robin Leopold sold 1,250 shares of the business’s stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $270.09, for a total value of $337,612.50. Following the completion of the transaction, the insider now directly owns 50,377 shares of the company’s stock, valued at approximately $13,606,323.93. The trade was a 2.42 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Jennifer Piepszak sold 4,273 shares of the business’s stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $269.85, for a total value of $1,153,069.05. Following the completion of the transaction, the chief operating officer now directly 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 disclosure for this sale can be found here. Insiders sold a total of 46,326 shares of company stock valued at $12,448,445 over the last three months. Company insiders own 0.79% of the company’s stock.

JPMorgan Chase & Co. Trading Up 2.1 %

JPM stock opened at $264.56 on Friday. The company has a market cap of $739.74 billion, a P/E ratio of 13.40, a PEG ratio of 2.83 and a beta of 1.12. JPMorgan Chase & Co. has a twelve month low of $179.20 and a twelve month high of $280.25. The company has a quick ratio of 0.89, a current ratio of 0.88 and a debt-to-equity ratio of 1.24. The business has a fifty day moving average of $258.55 and a 200-day moving average of $236.93.

JPMorgan Chase & Co. (NYSE:JPM) last announced its quarterly earnings data on Wednesday, January 15th. The financial services provider reported $4.81 EPS for the quarter, topping analysts’ consensus estimates of $4.03 by $0.78. JPMorgan Chase & Co. had a return on equity of 16.99% and a net margin of 20.96%. The business had revenue of $42.77 billion during the quarter, compared to analysts’ expectations of $41.90 billion. During the same period in the previous year, the firm earned $3.04 earnings per share. The firm’s quarterly revenue was up 10.9% compared to the same quarter last year. As a group, equities research analysts expect that JPMorgan Chase & Co. will post 18.1 EPS for the current year.

JPMorgan Chase & Co. Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Monday, January 6th were paid a dividend of $1.25 per share. The ex-dividend date of this dividend was Monday, January 6th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 1.89%. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is presently 25.33%.

Wall Street Analyst Weigh In

Several equities analysts recently commented on JPM shares. Wells Fargo & Company raised their target price on JPMorgan Chase & Co. from $240.00 to $270.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. Baird R W downgraded JPMorgan Chase & Co. from a “hold” rating to a “strong sell” rating in a research report on Thursday, November 7th. Bank of America lifted their price objective on JPMorgan Chase & Co. from $260.00 to $280.00 and gave the company a “buy” rating in a research report on Tuesday, January 7th. Piper Sandler lifted their price objective on JPMorgan Chase & Co. from $240.00 to $275.00 and gave the company an “overweight” rating in a research report on Tuesday, December 3rd. Finally, Robert W. Baird downgraded JPMorgan Chase & Co. from a “neutral” rating to an “underperform” rating and set a $200.00 price objective for the company. in a research report on Thursday, November 7th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $251.78.

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.