JPMorgan Chase & Co. (NYSE:JPM) Shares Sold by Patten & Patten Inc. TN

Patten & Patten Inc. TN lessened its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 1.3% in the fourth quarter, HoldingsChannel reports. The firm owned 133,270 shares of the financial services provider’s stock after selling 1,759 shares during the quarter. JPMorgan Chase & Co. makes up approximately 2.1% of Patten & Patten Inc. TN’s holdings, making the stock its 9th biggest holding. Patten & Patten Inc. TN’s holdings in JPMorgan Chase & Co. were worth $31,946,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Geode Capital Management LLC raised its position in shares of JPMorgan Chase & Co. by 0.9% in the 3rd quarter. Geode Capital Management LLC now owns 58,344,186 shares of the financial services provider’s stock valued at $12,258,346,000 after purchasing an additional 505,830 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in JPMorgan Chase & Co. by 0.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 20,103,063 shares of the financial services provider’s stock worth $4,818,905,000 after buying an additional 71,122 shares during the last quarter. Fisher Asset Management LLC grew its stake in JPMorgan Chase & Co. by 3.7% during the 4th quarter. Fisher Asset Management LLC now owns 17,401,436 shares of the financial services provider’s stock worth $4,171,298,000 after buying an additional 617,164 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in JPMorgan Chase & Co. by 2.0% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 15,084,919 shares of the financial services provider’s stock worth $3,180,806,000 after buying an additional 302,592 shares during the last quarter. Finally, Franklin Resources Inc. grew its stake in shares of JPMorgan Chase & Co. by 7.2% in the third quarter. Franklin Resources Inc. now owns 15,073,193 shares of the financial services provider’s stock worth $3,338,955,000 after purchasing an additional 1,016,289 shares in the last quarter. Hedge funds and other institutional investors own 71.55% of the company’s stock.

JPMorgan Chase & Co. Stock Performance

Shares of JPMorgan Chase & Co. stock opened at $241.49 on Monday. JPMorgan Chase & Co. has a one year low of $179.20 and a one year high of $280.25. The firm has a market capitalization of $675.24 billion, a price-to-earnings ratio of 12.23, a PEG ratio of 2.83 and a beta of 1.10. The business has a 50-day simple moving average of $257.86 and a 200 day simple moving average of $239.50. 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. (NYSE:JPM) last released 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. 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 the consensus estimate of $41.90 billion. During the same quarter in the previous year, the business earned $3.04 EPS. The company’s quarterly revenue was up 10.9% on a year-over-year basis. On average, research analysts anticipate 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 disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Friday, April 4th will be paid a $1.40 dividend. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.25. The ex-dividend date of this dividend is Friday, April 4th. This represents a $5.60 annualized dividend and a yield of 2.32%. JPMorgan Chase & Co.’s dividend payout ratio is presently 28.37%.

Insider Activity at JPMorgan Chase & Co.

In other news, insider Robin Leopold sold 1,250 shares of the company’s stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $270.09, for a total value of $337,612.50. Following the transaction, the insider now owns 50,377 shares of the company’s stock, valued at approximately $13,606,323.93. This represents a 2.42 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, 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 completion of the transaction, the general counsel now directly owns 47,620 shares in the company, 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. Over the last quarter, insiders have sold 46,326 shares of company stock worth $12,448,445. Insiders own 0.79% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on JPM shares. Baird R W raised JPMorgan Chase & Co. from a “strong sell” rating to a “hold” rating in a report on Friday, March 7th. Robert W. Baird raised JPMorgan Chase & Co. from an “underperform” rating to a “neutral” rating and increased their price objective for the stock from $215.00 to $220.00 in a research note on Friday, March 7th. Truist Financial upped their target price 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. Wolfe Research raised 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. Finally, Keefe, Bruyette & Woods raised their target price on JPMorgan Chase & Co. from $257.00 to $264.00 and gave the company a “market perform” rating in a report on Thursday, January 16th. Ten investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, JPMorgan Chase & Co. presently has an average rating of “Moderate Buy” and an average price target of $252.89.

JPMorgan Chase & Co. Company 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.