Picton Mahoney Asset Management Sells 434 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Picton Mahoney Asset Management reduced its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 0.8% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 53,080 shares of the financial services provider’s stock after selling 434 shares during the quarter. Picton Mahoney Asset Management’s holdings in JPMorgan Chase & Co. were worth $12,723,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Disciplined Investments LLC bought a new position in shares of JPMorgan Chase & Co. during the 4th quarter worth approximately $217,000. LGT Group Foundation boosted its stake in shares of JPMorgan Chase & Co. by 2.8% during the 4th 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 period. Kinsale Capital Group Inc. boosted its stake in shares of 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 acquiring an additional 4,375 shares during the period. Jag Capital Management LLC boosted its stake in shares of 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 worth $353,000 after acquiring an additional 140 shares during the period. Finally, JPMorgan Chase & Co. boosted its stake 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 acquiring an additional 319,730 shares during the period. 71.55% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other JPMorgan Chase & Co. news, General Counsel Stacey Friedman sold 3,303 shares of the company’s stock in a transaction dated Thursday, January 16th. The stock was sold at an average price of $253.94, for a total value of $838,763.82. Following the completion of the transaction, the general counsel now owns 47,620 shares of the company’s stock, valued at $12,092,622.80. This represents a 6.49 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Jennifer Piepszak sold 4,273 shares of the company’s 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 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 position. 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 in the last 90 days. Corporate insiders own 0.79% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on JPM shares. UBS Group boosted 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. Robert W. Baird upgraded JPMorgan Chase & Co. from an “underperform” rating to a “neutral” rating and boosted their price target for the company from $215.00 to $220.00 in a research note on Friday, March 7th. 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. Keefe, Bruyette & Woods boosted their price target on JPMorgan Chase & Co. from $257.00 to $264.00 and gave the company a “market perform” rating in a research note on Thursday, January 16th. Finally, Wolfe Research upgraded JPMorgan Chase & Co. from a “peer perform” rating to an “outperform” rating and set a $269.00 price target for the company in a research note on Friday, January 3rd. Ten equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $252.89.

JPMorgan Chase & Co. Price Performance

JPMorgan Chase & Co. stock opened at $241.49 on Friday. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.89 and a current ratio of 0.88. JPMorgan Chase & Co. has a 52 week low of $179.20 and a 52 week high of $280.25. The stock has a market capitalization of $675.24 billion, a P/E ratio of 12.23, a price-to-earnings-growth ratio of 2.83 and a beta of 1.10. The stock has a fifty day moving average of $257.86 and a 200-day moving average of $239.35.

JPMorgan Chase & Co. (NYSE:JPM) last posted its quarterly earnings results 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 company had revenue of $42.77 billion during the quarter, compared to analysts’ expectations of $41.90 billion. During the same quarter in the previous year, the firm earned $3.04 EPS. JPMorgan Chase & Co.’s revenue was up 10.9% on a year-over-year basis. On average, sell-side analysts expect that JPMorgan Chase & Co. will post 18.1 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Friday, April 4th will be issued a $1.40 dividend. This represents a $5.60 dividend on an annualized basis and a yield of 2.32%. The ex-dividend date is Friday, April 4th. This is a boost from JPMorgan Chase & Co.’s previous quarterly dividend of $1.25. JPMorgan Chase & Co.’s dividend payout ratio is presently 28.37%.

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.