Sound Income Strategies LLC Lowers Position in JPMorgan Chase & Co. (NYSE:JPM)

Sound Income Strategies LLC reduced its position in shares of JPMorgan Chase & Co. (NYSE:JPM) by 6.8% in the 4th quarter, HoldingsChannel reports. The firm owned 8,198 shares of the financial services provider’s stock after selling 600 shares during the period. Sound Income Strategies LLC’s holdings in JPMorgan Chase & Co. were worth $1,965,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in JPM. International Assets Investment Management LLC acquired a new stake in shares of JPMorgan Chase & Co. in the 3rd quarter valued at approximately $1,888,088,000. Fisher Asset Management LLC lifted its holdings in 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 during the period. Healthcare of Ontario Pension Plan Trust Fund boosted its position in shares of JPMorgan Chase & Co. by 137.8% during the 3rd 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 purchasing an additional 2,535,590 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec grew its stake in shares of 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 worth $567,669,000 after purchasing an additional 1,301,764 shares during the period. Finally, Franklin Resources Inc. increased its holdings in shares of JPMorgan Chase & Co. by 7.2% in the 3rd quarter. Franklin Resources Inc. now owns 15,073,193 shares of the financial services provider’s stock valued at $3,338,955,000 after purchasing an additional 1,016,289 shares in the last quarter. Institutional investors and hedge funds own 71.55% of the company’s stock.

Analyst Ratings Changes

JPM has been the topic of several recent analyst reports. Daiwa Capital Markets lowered their target price on shares of JPMorgan Chase & Co. from $240.00 to $235.00 and set an “overweight” rating on the stock in a research report on Thursday, October 10th. Citigroup upped their price target on JPMorgan Chase & Co. from $215.00 to $250.00 and gave the stock a “neutral” rating in a report on Tuesday, November 19th. Barclays lifted their price objective on JPMorgan Chase & Co. from $304.00 to $330.00 and gave the stock an “overweight” rating in a report on Thursday, January 16th. Truist Financial upped their target price on JPMorgan Chase & Co. from $260.00 to $268.00 and gave the company a “hold” rating in a report on Thursday, January 16th. Finally, Keefe, Bruyette & Woods lifted their price target on JPMorgan Chase & Co. from $257.00 to $264.00 and gave the stock a “market perform” rating in a research note on Thursday, January 16th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $251.78.

JPMorgan Chase & Co. Price Performance

Shares of NYSE:JPM opened at $266.94 on Wednesday. The company has a market cap of $751.53 billion, a P/E ratio of 13.52, a P/E/G ratio of 2.83 and a beta of 1.11. The business has a fifty day simple moving average of $246.08 and a 200-day simple moving average of $226.92. JPMorgan Chase & Co. has a 52 week low of $171.30 and a 52 week high of $267.33. The company has a quick ratio of 0.89, a current ratio of 0.88 and a debt-to-equity ratio of 1.24.

JPMorgan Chase & Co. (NYSE:JPM) last posted its quarterly earnings data on Wednesday, January 15th. The financial services provider reported $4.81 EPS for the quarter, beating analysts’ consensus estimates of $4.03 by $0.78. The company had revenue of $42.77 billion during the quarter, compared to the consensus estimate of $41.90 billion. JPMorgan Chase & Co. had a net margin of 20.96% and a return on equity of 16.99%. The company’s quarterly revenue was up 10.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $3.04 EPS. Equities research analysts forecast that JPMorgan Chase & Co. will post 17.82 EPS for the current year.

JPMorgan Chase & Co. Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Monday, January 6th will be paid a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a yield of 1.87%. The ex-dividend date is Monday, January 6th. JPMorgan Chase & Co.’s dividend payout ratio is currently 25.33%.

Insider Buying and Selling at JPMorgan Chase & Co.

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

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.