Y Intercept Hong Kong Ltd Sells 24,594 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Y Intercept Hong Kong Ltd lowered its stake in JPMorgan Chase & Co. (NYSE:JPM) by 79.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,463 shares of the financial services provider’s stock after selling 24,594 shares during the period. Y Intercept Hong Kong Ltd’s holdings in JPMorgan Chase & Co. were worth $1,549,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Birchcreek Wealth Management LLC boosted its stake in shares of JPMorgan Chase & Co. by 3.5% during the fourth quarter. Birchcreek Wealth Management LLC now owns 7,153 shares of the financial services provider’s stock valued at $1,715,000 after purchasing an additional 241 shares in the last quarter. Partners Wealth Management LLC acquired a new position in shares of JPMorgan Chase & Co. in the fourth quarter valued at approximately $971,000. World Equity Group Inc. raised its holdings in JPMorgan Chase & Co. by 99.7% in the 4th quarter. World Equity Group Inc. now owns 13,296 shares of the financial services provider’s stock valued at $3,187,000 after buying an additional 6,638 shares during the last quarter. Summit Asset Management LLC boosted its position in JPMorgan Chase & Co. by 2.2% during the 4th quarter. Summit Asset Management LLC now owns 9,158 shares of the financial services provider’s stock worth $2,195,000 after buying an additional 200 shares during the period. Finally, MONECO Advisors LLC grew its holdings in JPMorgan Chase & Co. by 14.5% during the 4th quarter. MONECO Advisors LLC now owns 17,086 shares of the financial services provider’s stock worth $4,096,000 after acquiring an additional 2,168 shares during the last quarter. Institutional investors own 71.55% of the company’s stock.

Insiders Place Their Bets

In other news, General Counsel Stacey Friedman sold 3,303 shares of JPMorgan Chase & Co. stock in a transaction dated Thursday, January 16th. The shares were sold at an average price of $253.94, for a total transaction of $838,763.82. Following the completion of the transaction, the general counsel now directly owns 47,620 shares in the company, valued at $12,092,622.80. This trade represents a 6.49 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Jennifer Piepszak sold 4,273 shares of the business’s stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $269.85, for a total transaction of $1,153,069.05. Following the sale, 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. Over the last quarter, insiders have sold 46,326 shares of company stock worth $12,448,445. Corporate insiders own 0.79% of the company’s stock.

JPMorgan Chase & Co. Stock Performance

NYSE:JPM opened at $251.55 on Thursday. The company has a quick ratio of 0.89, a current ratio of 0.88 and a debt-to-equity ratio of 1.24. JPMorgan Chase & Co. has a twelve month low of $179.20 and a twelve month high of $280.25. The company has a fifty day moving average of $259.33 and a 200-day moving average of $238.02. The firm has a market capitalization of $703.35 billion, a P/E ratio of 12.74, a P/E/G ratio of 2.83 and a beta of 1.12.

JPMorgan Chase & Co. (NYSE:JPM) last posted its quarterly earnings results on Wednesday, January 15th. The financial services provider reported $4.81 earnings per share for the quarter, beating the consensus estimate 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 net margin of 20.96% and a return on equity of 16.99%. The business’s revenue was up 10.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.04 earnings per share. As a group, sell-side analysts anticipate that JPMorgan Chase & Co. will post 18.1 EPS for the current year.

JPMorgan Chase & Co. Dividend Announcement

The company also recently declared 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. This represents a $5.00 dividend on an annualized basis and a yield of 1.99%. The ex-dividend date of this dividend was Monday, January 6th. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is currently 25.33%.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on JPM. Piper Sandler raised their price target on shares of JPMorgan Chase & Co. from $240.00 to $275.00 and gave the company an “overweight” rating in a research note on Tuesday, December 3rd. Citigroup raised their target price on JPMorgan Chase & Co. from $215.00 to $250.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 19th. Oppenheimer downgraded JPMorgan Chase & Co. from an “outperform” rating to a “market perform” rating in a report on Wednesday, November 20th. UBS Group increased their price target on JPMorgan Chase & Co. from $276.00 to $287.00 and gave the company a “buy” rating in a research note on Thursday, January 16th. Finally, Keefe, Bruyette & Woods lifted their price objective on 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. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $251.78.

About JPMorgan Chase & Co.

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.