JPMorgan Chase & Co. (NYSE:JPM) Position Decreased by Pitti Group Wealth Management LLC

Pitti Group Wealth Management LLC reduced its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 10.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,541 shares of the financial services provider’s stock after selling 296 shares during the quarter. Pitti Group Wealth Management LLC’s holdings in JPMorgan Chase & Co. were worth $609,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. Geode Capital Management LLC boosted 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 during the period. Charles Schwab Investment Management Inc. lifted its stake in JPMorgan Chase & Co. by 0.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 20,103,063 shares of the financial services provider’s stock valued at $4,818,905,000 after buying an additional 71,122 shares in the last quarter. Fisher Asset Management LLC boosted its holdings in shares of JPMorgan Chase & Co. by 3.7% in the fourth 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 period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of JPMorgan Chase & Co. by 2.0% in the third 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 acquiring an additional 302,592 shares in the last quarter. Finally, Franklin Resources Inc. raised its holdings in shares of JPMorgan Chase & Co. by 7.2% during the third quarter. Franklin Resources Inc. now owns 15,073,193 shares of the financial services provider’s stock valued at $3,338,955,000 after acquiring an additional 1,016,289 shares during the period. 71.55% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the stock. Wolfe Research raised shares of JPMorgan Chase & Co. from a “peer perform” rating to an “outperform” rating and set a $269.00 price objective for the company in a research note on Friday, January 3rd. UBS Group raised their target price on JPMorgan Chase & Co. from $276.00 to $287.00 and gave the stock a “buy” rating in a research report on Thursday, January 16th. Keefe, Bruyette & Woods lifted their price target 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. Truist Financial increased their price objective on JPMorgan Chase & Co. from $260.00 to $268.00 and gave the stock a “hold” rating in a research note on Thursday, January 16th. Finally, Bank of America lifted their target price on JPMorgan Chase & Co. from $260.00 to $280.00 and gave the company a “buy” rating in a research note on Tuesday, January 7th. Ten investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat, JPMorgan Chase & Co. has an average rating of “Moderate Buy” and a consensus price target of $252.89.

JPMorgan Chase & Co. Price Performance

NYSE JPM opened at $248.23 on Tuesday. JPMorgan Chase & Co. has a fifty-two week low of $179.20 and a fifty-two week high of $280.25. The stock’s 50-day moving average is $257.94 and its two-hundred day moving average is $239.71. The firm has a market cap of $694.07 billion, a P/E ratio of 12.57, a price-to-earnings-growth ratio of 2.83 and a beta of 1.10. 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 issued its quarterly earnings data on Wednesday, January 15th. The financial services provider reported $4.81 earnings per share 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 for the quarter, compared to the consensus estimate of $41.90 billion. During the same period last year, the business earned $3.04 EPS. The firm’s revenue was up 10.9% compared to the same quarter last year. On average, 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 issued a dividend of $1.40 per share. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.25. This represents a $5.60 annualized dividend and a dividend yield of 2.26%. The ex-dividend date is Friday, April 4th. JPMorgan Chase & Co.’s dividend payout ratio is currently 28.37%.

Insider Activity at JPMorgan Chase & Co.

In other news, insider Robin Leopold sold 1,250 shares of the firm’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 sale, the insider now directly owns 50,377 shares of the company’s stock, valued at approximately $13,606,323.93. This trade represents a 2.42 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Troy L. Rohrbaugh sold 25,000 shares of the business’s stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $247.02, for a total value of $6,175,500.00. Following the transaction, the chief executive officer now directly owns 133,381 shares of the company’s stock, valued at $32,947,774.62. This represents a 15.78 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 76,848 shares of company stock worth $19,987,908. 0.79% of the stock is owned by insiders.

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.