Intrinsic Value Partners LLC reduced its stake in JPMorgan Chase & Co. (NYSE:JPM) by 14.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,257 shares of the financial services provider’s stock after selling 375 shares during the quarter. Intrinsic Value Partners LLC’s holdings in JPMorgan Chase & Co. were worth $303,000 at the end of the most recent reporting period.
Several other hedge funds have also recently bought and sold shares of JPM. Avity Investment Management Inc. grew its position in shares of JPMorgan Chase & Co. by 0.7% in the fourth quarter. Avity Investment Management Inc. now owns 111,544 shares of the financial services provider’s stock valued at $14,958,000 after purchasing an additional 773 shares during the last quarter. First Hawaiian Bank grew its holdings in JPMorgan Chase & Co. by 3.2% in the 4th quarter. First Hawaiian Bank now owns 54,579 shares of the financial services provider’s stock valued at $7,319,000 after buying an additional 1,685 shares in the last quarter. Defender Capital LLC. bought a new position in JPMorgan Chase & Co. during the 4th quarter worth $248,000. YHB Investment Advisors Inc. lifted its holdings in shares of JPMorgan Chase & Co. by 2.0% during the fourth quarter. YHB Investment Advisors Inc. now owns 22,350 shares of the financial services provider’s stock worth $2,997,000 after buying an additional 434 shares in the last quarter. Finally, Marcum Wealth LLC boosted its position in shares of JPMorgan Chase & Co. by 1.1% in the fourth quarter. Marcum Wealth LLC now owns 32,989 shares of the financial services provider’s stock valued at $4,424,000 after acquiring an additional 373 shares during the period. 67.89% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
A number of research firms recently commented on JPM. Wells Fargo & Company raised shares of JPMorgan Chase & Co. from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $148.00 to $155.00 in a research report on Monday, March 13th. Piper Sandler lifted their price target on shares of JPMorgan Chase & Co. from $150.00 to $157.00 in a research report on Tuesday, January 17th. UBS Group set a $156.00 price target on JPMorgan Chase & Co. in a research note on Friday, January 13th. Morgan Stanley lifted their price objective on JPMorgan Chase & Co. from $167.00 to $173.00 and gave the company an “overweight” rating in a report on Friday, February 24th. Finally, Barclays increased their target price on JPMorgan Chase & Co. from $162.00 to $189.00 and gave the stock an “overweight” rating in a report on Tuesday, January 3rd. Six equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $150.78.
JPMorgan Chase & Co. Trading Up 2.7 %
JPMorgan Chase & Co. (NYSE:JPM – Get Rating) last issued its earnings results on Friday, January 13th. The financial services provider reported $3.57 earnings per share for the quarter, beating analysts’ consensus estimates of $3.11 by $0.46. The firm had revenue of $34.55 billion for the quarter, compared to analyst estimates of $34.23 billion. JPMorgan Chase & Co. had a net margin of 24.34% and a return on equity of 14.68%. The company’s quarterly revenue was up 18.1% on a year-over-year basis. During the same quarter last year, the business posted $3.33 earnings per share. Equities research analysts predict that JPMorgan Chase & Co. will post 12.9 earnings per share for the current fiscal year.
JPMorgan Chase & Co. Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Sunday, April 30th. Investors of record on Thursday, April 6th will be given a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a yield of 3.06%. JPMorgan Chase & Co.’s dividend payout ratio is currently 33.11%.
Insiders Place Their Bets
In other news, Director Mellody L. Hobson purchased 375 shares of the business’s stock in a transaction dated Thursday, January 19th. The shares were purchased at an average cost of $134.53 per share, with a total value of $50,448.75. Following the completion of the purchase, the director now owns 22,040 shares of the company’s stock, valued at approximately $2,965,041.20. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other JPMorgan Chase & Co. news, Director Mellody L. Hobson purchased 375 shares of the firm’s stock in a transaction on Thursday, January 19th. The stock was purchased at an average cost of $134.53 per share, for a total transaction of $50,448.75. Following the transaction, the director now owns 22,040 shares in the company, valued at approximately $2,965,041.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, General Counsel Stacey Friedman sold 23,148 shares of JPMorgan Chase & Co. stock in a transaction on Tuesday, January 17th. The stock was sold at an average price of $140.31, for a total transaction of $3,247,895.88. Following the transaction, the general counsel now owns 48,311 shares in the company, valued at approximately $6,778,516.41. The disclosure for this sale can be found here. Insiders sold a total of 37,887 shares of company stock valued at $5,315,762 in the last 90 days. Corporate insiders own 0.79% of the company’s stock.
About JPMorgan Chase & Co.
JPMorgan Chase & Co is a financial holding company, which engages in providing 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.
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