Hedges Asset Management LLC Sells 3,300 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Hedges Asset Management LLC cut its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 76.7% during the 4th quarter, Holdings Channel reports. The institutional investor owned 1,000 shares of the financial services provider’s stock after selling 3,300 shares during the quarter. Hedges Asset Management LLC’s holdings in JPMorgan Chase & Co. were worth $240,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in JPM. Mizuho Securities Co. Ltd. acquired a new position in shares of JPMorgan Chase & Co. in the third quarter worth approximately $25,000. Catalyst Capital Advisors LLC acquired a new position in shares of JPMorgan Chase & Co. in the 3rd quarter worth approximately $27,000. West Financial Advisors LLC bought a new stake in shares of JPMorgan Chase & Co. in the 3rd quarter valued at $37,000. New England Capital Financial Advisors LLC increased its position in shares of JPMorgan Chase & Co. by 38.5% during the third quarter. New England Capital Financial Advisors LLC now owns 180 shares of the financial services provider’s stock worth $38,000 after buying an additional 50 shares during the period. Finally, Carolina Wealth Advisors LLC raised its stake in JPMorgan Chase & Co. by 36.0% during the third quarter. Carolina Wealth Advisors LLC now owns 189 shares of the financial services provider’s stock worth $40,000 after buying an additional 50 shares during the last quarter. Institutional investors own 71.55% of the company’s stock.

JPMorgan Chase & Co. Trading Up 0.4 %

Shares of JPMorgan Chase & Co. stock opened at $265.83 on Tuesday. The company has a market capitalization of $748.41 billion, a P/E ratio of 13.47, a price-to-earnings-growth ratio of 2.83 and a beta of 1.11. The stock has a fifty day simple moving average of $245.67 and a 200 day simple moving average of $226.51. JPMorgan Chase & Co. has a 12-month low of $171.30 and a 12-month high of $267.10. The company has a current ratio of 0.88, a quick ratio of 0.89 and a debt-to-equity ratio of 1.24.

JPMorgan Chase & Co. (NYSE:JPM) last posted its earnings results on Wednesday, January 15th. The financial services provider reported $4.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.03 by $0.78. JPMorgan Chase & Co. had a net margin of 20.96% and a return on equity of 16.99%. The firm had revenue of $42.77 billion during the quarter, compared to analyst estimates of $41.90 billion. During the same quarter in the prior year, the business posted $3.04 EPS. The business’s revenue was up 10.9% compared to the same quarter last year. On average, sell-side analysts anticipate that JPMorgan Chase & Co. will post 17.82 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Monday, January 6th will be given a dividend of $1.25 per share. The ex-dividend date of this dividend is Monday, January 6th. This represents a $5.00 annualized dividend and a dividend yield of 1.88%. JPMorgan Chase & Co.’s dividend payout ratio is currently 25.33%.

Analysts Set New Price Targets

A number of brokerages have commented on JPM. Robert W. Baird cut shares of JPMorgan Chase & Co. from a “neutral” rating to an “underperform” rating and set a $200.00 price target on the stock. in a research report on Thursday, November 7th. Oppenheimer cut JPMorgan Chase & Co. from an “outperform” rating to a “market perform” rating in a research note on Wednesday, November 20th. Piper Sandler boosted their price target on JPMorgan Chase & Co. from $240.00 to $275.00 and gave the company an “overweight” rating in a research note on Tuesday, December 3rd. 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 report on Friday, January 3rd. Finally, Bank of America boosted their target price on shares of JPMorgan Chase & Co. from $260.00 to $280.00 and gave the company a “buy” rating in a research report on Tuesday, January 7th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $251.78.

Insider Transactions at JPMorgan Chase & Co.

In related news, General Counsel Stacey Friedman sold 3,303 shares of JPMorgan Chase & Co. stock in a transaction on Thursday, January 16th. The stock was sold at an average price of $253.94, for a total transaction of $838,763.82. Following the sale, the general counsel now directly owns 47,620 shares in the company, valued at approximately $12,092,622.80. This trade represents a 6.49 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.79% of the company’s stock.

JPMorgan Chase & Co. 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.