Legacy Wealth Management LLC MS Trims Position in JPMorgan Chase & Co. (NYSE:JPM)

Legacy Wealth Management LLC MS trimmed its stake in JPMorgan Chase & Co. (NYSE:JPM) by 2.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 12,893 shares of the financial services provider’s stock after selling 275 shares during the period. JPMorgan Chase & Co. comprises 1.2% of Legacy Wealth Management LLC MS’s holdings, making the stock its 22nd biggest holding. Legacy Wealth Management LLC MS’s holdings in JPMorgan Chase & Co. were worth $3,091,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also added to or reduced their stakes in the stock. International Assets Investment Management LLC purchased a new position in JPMorgan Chase & Co. during the 3rd quarter worth $1,888,088,000. Fisher Asset Management LLC raised its holdings in shares of JPMorgan Chase & Co. by 31.7% in the third quarter. Fisher Asset Management LLC now owns 16,784,272 shares of the financial services provider’s stock valued at $3,539,132,000 after acquiring an additional 4,043,841 shares in the last quarter. Wulff Hansen & CO. raised its holdings in shares of JPMorgan Chase & Co. by 19,920.7% in the second quarter. Wulff Hansen & CO. now owns 2,801,503 shares of the financial services provider’s stock valued at $566,632,000 after acquiring an additional 2,787,510 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund lifted its stake in JPMorgan Chase & Co. by 137.8% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 4,376,176 shares of the financial services provider’s stock worth $922,760,000 after acquiring an additional 2,535,590 shares during the period. Finally, Caisse DE Depot ET Placement DU Quebec increased its position in JPMorgan Chase & Co. by 93.6% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 2,692,159 shares of the financial services provider’s stock valued at $567,669,000 after purchasing an additional 1,301,764 shares during the period. 71.55% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the stock. Piper Sandler boosted their price objective on shares of JPMorgan Chase & Co. from $240.00 to $275.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 3rd. Evercore ISI upped their price objective on JPMorgan Chase & Co. from $217.00 to $230.00 and gave the stock an “outperform” rating in a research note on Monday, October 14th. Oppenheimer lowered JPMorgan Chase & Co. from an “outperform” rating to a “market perform” rating in a research note on Wednesday, November 20th. Keefe, Bruyette & Woods increased their price target on shares of JPMorgan Chase & Co. from $216.00 to $254.00 and gave the company a “market perform” rating in a research report on Tuesday, December 3rd. Finally, Robert W. Baird lowered shares of JPMorgan Chase & Co. from a “neutral” rating to an “underperform” rating and set a $200.00 price objective for the company. in a research note on Thursday, November 7th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and ten have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $239.88.

JPMorgan Chase & Co. Price Performance

JPM traded up $1.59 during midday trading on Monday, hitting $243.62. 1,826,904 shares of the company traded hands, compared to its average volume of 6,595,192. JPMorgan Chase & Co. has a 52-week low of $164.30 and a 52-week high of $254.31. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 1.27. The business has a 50 day simple moving average of $239.74 and a two-hundred day simple moving average of $221.33. The company has a market capitalization of $685.87 billion, a price-to-earnings ratio of 13.56, a PEG ratio of 3.54 and a beta of 1.11.

JPMorgan Chase & Co. (NYSE:JPM) last posted its quarterly earnings data on Friday, October 11th. The financial services provider reported $4.37 EPS for the quarter, beating the consensus estimate of $4.02 by $0.35. The firm had revenue of $43.32 billion during the quarter, compared to the consensus estimate of $41.43 billion. JPMorgan Chase & Co. had a return on equity of 16.71% and a net margin of 19.64%. The firm’s revenue was up 6.5% compared to the same quarter last year. During the same period in the prior year, the company earned $4.33 EPS. On average, equities analysts forecast that JPMorgan Chase & Co. will post 17.62 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Monday, January 6th will be paid a $1.25 dividend. This represents a $5.00 annualized dividend and a dividend yield of 2.05%. The ex-dividend date of this dividend is Monday, January 6th. JPMorgan Chase & Co.’s dividend payout ratio is currently 27.82%.

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.