Wallace Advisory Group LLC Sells 1,254 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Wallace Advisory Group LLC lessened its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 23.0% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 4,196 shares of the financial services provider’s stock after selling 1,254 shares during the period. Wallace Advisory Group LLC’s holdings in JPMorgan Chase & Co. were worth $1,006,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Tuttle Capital Management LLC raised its stake in JPMorgan Chase & Co. by 34.5% in the fourth quarter. Tuttle Capital Management LLC now owns 1,996 shares of the financial services provider’s stock worth $478,000 after buying an additional 512 shares in the last quarter. Fortis Advisors LLC bought a new position in JPMorgan Chase & Co. in the fourth quarter worth approximately $259,000. Capital CS Group LLC bought a new position in JPMorgan Chase & Co. in the fourth quarter worth approximately $737,000. IMZ Advisory Inc raised its stake in JPMorgan Chase & Co. by 2.6% in the fourth quarter. IMZ Advisory Inc now owns 1,783 shares of the financial services provider’s stock worth $428,000 after buying an additional 46 shares in the last quarter. Finally, GSG Advisors LLC raised its stake in JPMorgan Chase & Co. by 12.9% in the fourth quarter. GSG Advisors LLC now owns 3,950 shares of the financial services provider’s stock worth $947,000 after buying an additional 451 shares in the last quarter. Institutional investors own 71.55% of the company’s stock.

JPMorgan Chase & Co. Trading Up 1.9 %

JPMorgan Chase & Co. stock opened at $252.22 on Thursday. The firm has a market cap of $710.09 billion, a PE ratio of 14.04, a P/E/G ratio of 3.54 and a beta of 1.11. JPMorgan Chase & Co. has a 12 month low of $164.30 and a 12 month high of $254.31. The stock’s 50 day simple moving average is $242.60 and its two-hundred day simple moving average is $223.51. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 1.27.

JPMorgan Chase & Co. (NYSE:JPM) last posted its 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 analyst estimates of $41.90 billion. JPMorgan Chase & Co. had a net margin of 19.64% and a return on equity of 16.71%. The business’s quarterly revenue was up 10.9% on a year-over-year basis. During the same period in the previous year, the firm earned $3.04 EPS. Analysts anticipate that JPMorgan Chase & Co. will post 17.62 earnings per share for the current year.

JPMorgan Chase & Co. Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Monday, January 6th will be issued a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a dividend yield of 1.98%. The ex-dividend date is Monday, January 6th. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is 27.82%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the stock. Barclays boosted their price objective on shares of JPMorgan Chase & Co. from $257.00 to $304.00 and gave the stock an “overweight” rating in a research note on Monday, January 6th. Royal Bank of Canada upped their price target on JPMorgan Chase & Co. from $211.00 to $230.00 and gave the stock an “outperform” rating in a research report on Monday, October 14th. Bank of America upped their price target on JPMorgan Chase & Co. from $260.00 to $280.00 and gave the stock a “buy” rating in a research report on Tuesday, January 7th. Evercore ISI upped their price target on JPMorgan Chase & Co. from $217.00 to $230.00 and gave the stock an “outperform” rating in a research report on Monday, October 14th. Finally, Truist Financial assumed coverage on JPMorgan Chase & Co. in a research report on Tuesday, January 7th. They set a “hold” rating and a $260.00 price target on the stock. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $245.83.

JPMorgan Chase & Co. Profile

JPMorgan Chase & Co operates as a financial services company worldwide. It operates through four segments: Consumer & Community Banking (CCB), Corporate & Investment Bank (CIB), Commercial Banking (CB), and Asset & Wealth Management (AWM). The CCB segment offers deposit, investment and lending products, cash management, and payments and services; mortgage origination and servicing activities; residential mortgages and home equity loans; and credit cards, auto loans, leases, and travel services to consumers and small businesses through bank branches, ATMs, and digital and telephone banking.