New Covenant Trust Company N.A. Trims Holdings in JPMorgan Chase & Co. (NYSE:JPM)

New Covenant Trust Company N.A. lessened its stake in JPMorgan Chase & Co. (NYSE:JPM) by 1.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 6,251 shares of the financial services provider’s stock after selling 72 shares during the period. JPMorgan Chase & Co. comprises about 1.5% of New Covenant Trust Company N.A.’s investment portfolio, making the stock its 16th largest position. New Covenant Trust Company N.A.’s holdings in JPMorgan Chase & Co. were worth $1,496,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in JPM. DDD Partners LLC grew its stake in shares of JPMorgan Chase & Co. by 2.8% in the fourth quarter. DDD Partners LLC now owns 1,416 shares of the financial services provider’s stock worth $339,000 after purchasing an additional 38 shares in the last quarter. Rappaport Reiches Capital Management LLC lifted its holdings in JPMorgan Chase & Co. by 3.8% in the fourth quarter. Rappaport Reiches Capital Management LLC now owns 1,068 shares of the financial services provider’s stock worth $256,000 after purchasing an additional 39 shares during the period. Yoder Wealth Management Inc. grew its position in JPMorgan Chase & Co. by 2.8% in the 4th quarter. Yoder Wealth Management Inc. now owns 1,436 shares of the financial services provider’s stock valued at $344,000 after buying an additional 39 shares in the last quarter. Almanack Investment Partners LLC. increased its stake in JPMorgan Chase & Co. by 0.8% during the 4th quarter. Almanack Investment Partners LLC. now owns 5,143 shares of the financial services provider’s stock valued at $1,233,000 after buying an additional 39 shares during the period. Finally, Powers Advisory Group LLC raised its position in shares of JPMorgan Chase & Co. by 0.7% during the 4th quarter. Powers Advisory Group LLC now owns 6,131 shares of the financial services provider’s stock worth $1,470,000 after buying an additional 42 shares in the last quarter. Institutional investors own 71.55% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. Keefe, Bruyette & Woods increased their price objective on shares of JPMorgan Chase & Co. from $257.00 to $264.00 and gave the company a “market perform” rating in a report on Thursday, January 16th. Piper Sandler upped their target price on JPMorgan Chase & Co. from $240.00 to $275.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 3rd. Oppenheimer downgraded JPMorgan Chase & Co. from an “outperform” rating to a “market perform” rating in a research note on Wednesday, November 20th. Wolfe Research upgraded JPMorgan Chase & Co. from a “peer perform” rating to an “outperform” rating and set a $269.00 price objective for the company in a report on Friday, January 3rd. Finally, Robert W. Baird raised JPMorgan Chase & Co. from an “underperform” rating to a “neutral” rating and lifted their target price for the stock from $215.00 to $220.00 in a report on Friday, March 7th. Ten research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $252.89.

JPMorgan Chase & Co. Price Performance

Shares of NYSE:JPM opened at $232.94 on Friday. The company’s fifty day moving average is $258.29 and its two-hundred day moving average is $238.83. The company has a market cap of $651.31 billion, a P/E ratio of 11.80, a price-to-earnings-growth ratio of 2.83 and a beta of 1.10. JPMorgan Chase & Co. has a 12-month low of $179.20 and a 12-month high of $280.25. 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 results on Wednesday, January 15th. The financial services provider reported $4.81 earnings per share for the quarter, beating the consensus estimate of $4.03 by $0.78. JPMorgan Chase & Co. had a return on equity of 16.99% and a net margin of 20.96%. The firm had revenue of $42.77 billion for the quarter, compared to analyst estimates of $41.90 billion. During the same period in the previous year, the firm earned $3.04 earnings per share. JPMorgan Chase & Co.’s quarterly revenue was up 10.9% on a year-over-year basis. Equities analysts expect that JPMorgan Chase & Co. will post 18.1 earnings per share for the current fiscal year.

Insider Transactions at JPMorgan Chase & Co.

In other news, CEO Troy L. Rohrbaugh sold 37,500 shares of the company’s stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $269.84, for a total value of $10,119,000.00. Following the transaction, the chief executive officer now directly owns 158,381 shares of the company’s stock, valued at approximately $42,737,529.04. This represents a 19.14 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, General Counsel Stacey Friedman sold 3,303 shares of JPMorgan Chase & Co. stock in a transaction on Thursday, January 16th. The shares were sold at an average price of $253.94, for a total value of $838,763.82. Following the sale, the general counsel now directly owns 47,620 shares of the company’s stock, valued at approximately $12,092,622.80. The trade was a 6.49 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 46,326 shares of company stock valued at $12,448,445 over the last three months. 0.79% of the stock is owned by corporate 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.