Physicians Financial Services Inc. Reduces Holdings in JPMorgan Chase & Co. (NYSE:JPM)

Physicians Financial Services Inc. lowered its position in shares of JPMorgan Chase & Co. (NYSE:JPM) by 3.2% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,562 shares of the financial services provider’s stock after selling 250 shares during the period. Physicians Financial Services Inc.’s holdings in JPMorgan Chase & Co. were worth $1,286,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in JPM. Moneta Group Investment Advisors LLC raised its stake in shares of JPMorgan Chase & Co. by 105,652.2% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 98,000,567 shares of the financial services provider’s stock valued at $13,141,876,000 after purchasing an additional 97,907,897 shares during the period. Norges Bank bought a new stake in shares of JPMorgan Chase & Co. in the fourth quarter worth $3,894,646,000. Morgan Stanley increased its stake in shares of JPMorgan Chase & Co. by 15.9% in the fourth quarter. Morgan Stanley now owns 59,049,256 shares of the financial services provider’s stock worth $7,918,506,000 after buying an additional 8,088,433 shares during the last quarter. International Assets Investment Management LLC bought a new stake in shares of JPMorgan Chase & Co. in the fourth quarter worth $1,017,893,000. Finally, Wellington Management Group LLP increased its stake in shares of JPMorgan Chase & Co. by 12.2% in the third quarter. Wellington Management Group LLP now owns 42,421,711 shares of the financial services provider’s stock worth $6,151,997,000 after buying an additional 4,603,090 shares during the last quarter. Hedge funds and other institutional investors own 71.55% of the company’s stock.

Insider Activity

In related news, CEO Jennifer Piepszak sold 1,648 shares of the stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $178.96, for a total value of $294,926.08. Following the transaction, the chief executive officer now owns 32,819 shares in the company, valued at $5,873,288.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other JPMorgan Chase & Co. news, CEO James Dimon sold 821,778 shares of the stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $182.73, for a total transaction of $150,163,493.94. Following the transaction, the chief executive officer now owns 595,316 shares in the company, valued at $108,782,092.68. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Jennifer Piepszak sold 1,648 shares of the stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $178.96, for a total value of $294,926.08. Following the transaction, the chief executive officer now owns 32,819 shares in the company, valued at approximately $5,873,288.24. The disclosure for this sale can be found here. Insiders have sold 1,020,696 shares of company stock worth $186,794,151 in the last 90 days. Company insiders own 0.79% of the company’s stock.

JPMorgan Chase & Co. Price Performance

Shares of NYSE JPM opened at $179.96 on Thursday. JPMorgan Chase & Co. has a fifty-two week low of $131.81 and a fifty-two week high of $200.94. The firm’s 50-day simple moving average is $188.48 and its 200 day simple moving average is $168.50. The company has a quick ratio of 0.91, a current ratio of 0.92 and a debt-to-equity ratio of 1.29. The stock has a market cap of $516.86 billion, a P/E ratio of 10.87, a P/E/G ratio of 2.30 and a beta of 1.15.

JPMorgan Chase & Co. Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Friday, April 5th will be issued a $1.15 dividend. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.05. The ex-dividend date is Thursday, April 4th. This represents a $4.60 dividend on an annualized basis and a dividend yield of 2.56%. JPMorgan Chase & Co.’s dividend payout ratio is currently 27.78%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on JPM. UBS Group dropped their price target on shares of JPMorgan Chase & Co. from $226.00 to $219.00 and set a “buy” rating for the company in a research note on Tuesday. Royal Bank of Canada restated an “outperform” rating and issued a $185.00 price target on shares of JPMorgan Chase & Co. in a research note on Wednesday, March 20th. Barclays lifted their price target on shares of JPMorgan Chase & Co. from $186.00 to $212.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 2nd. Piper Sandler dropped their price target on shares of JPMorgan Chase & Co. from $220.00 to $215.00 and set an “overweight” rating for the company in a research note on Monday. Finally, Keefe, Bruyette & Woods lifted their price objective on shares of JPMorgan Chase & Co. from $182.00 to $195.00 and gave the stock a “market perform” rating in a report on Friday, April 5th. Eight investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $192.05.

JPMorgan Chase & Co. Company 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.