Hollencrest Capital Management Reduces Position in JPMorgan Chase & Co. (NYSE:JPM)

Hollencrest Capital Management decreased its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 0.2% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 71,526 shares of the financial services provider’s stock after selling 149 shares during the quarter. JPMorgan Chase & Co. accounts for 0.7% of Hollencrest Capital Management’s portfolio, making the stock its 28th largest position. Hollencrest Capital Management’s holdings in JPMorgan Chase & Co. were worth $17,145,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in JPM. Midwest Capital Advisors LLC acquired a new stake in shares of JPMorgan Chase & Co. during the fourth quarter worth $43,000. Peterson Financial Group Inc. acquired a new stake in shares of JPMorgan Chase & Co. during the third quarter worth $45,000. Legacy Investment Solutions LLC acquired a new stake in shares of JPMorgan Chase & Co. during the third quarter worth $45,000. Collier Financial acquired a new stake in shares of JPMorgan Chase & Co. during the fourth quarter worth $45,000. Finally, Lowe Wealth Advisors LLC boosted its holdings in shares of JPMorgan Chase & Co. by 34.0% during the fourth quarter. Lowe Wealth Advisors LLC now owns 201 shares of the financial services provider’s stock worth $48,000 after purchasing an additional 51 shares during 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 analyst reports. Keefe, Bruyette & Woods raised their price objective on JPMorgan Chase & Co. from $257.00 to $264.00 and gave the stock a “market perform” rating in a report on Thursday, January 16th. UBS Group lifted their target price on JPMorgan Chase & Co. from $276.00 to $287.00 and gave the company a “buy” rating in a report on Thursday, January 16th. Truist Financial lifted 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. Piper Sandler lifted their target price on JPMorgan Chase & Co. from $240.00 to $275.00 and gave the company an “overweight” rating in a report on Tuesday, December 3rd. Finally, Bank of America lifted their target price on JPMorgan Chase & Co. from $260.00 to $280.00 and gave the company a “buy” rating in a report on Tuesday, January 7th. Ten analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $252.89.

Insider Transactions at JPMorgan Chase & Co.

In other JPMorgan Chase & Co. news, CEO Troy L. Rohrbaugh sold 37,500 shares of the company’s stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $269.84, for a total value of $10,119,000.00. Following the completion of the sale, the chief executive officer now directly owns 158,381 shares in the company, valued at $42,737,529.04. This represents a 19.14 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Jennifer Piepszak sold 4,273 shares of the company’s stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $269.85, for a total value of $1,153,069.05. Following the completion of the sale, the chief operating officer now owns 54,469 shares of the company’s stock, valued at $14,698,459.65. This trade represents a 7.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 46,326 shares of company stock worth $12,448,445. Company insiders own 0.79% of the company’s stock.

JPMorgan Chase & Co. Stock Down 0.1 %

Shares of NYSE JPM opened at $238.86 on Friday. JPMorgan Chase & Co. has a 1 year low of $179.20 and a 1 year high of $280.25. The firm has a market cap of $667.89 billion, a price-to-earnings ratio of 12.10, a PEG ratio of 2.83 and a beta of 1.10. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.89 and a current ratio of 0.88. The stock’s 50-day simple moving average is $257.83 and its 200-day simple moving average is $239.11.

JPMorgan Chase & Co. (NYSE:JPM) last announced its quarterly earnings data 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. The firm had revenue of $42.77 billion during the quarter, compared to analyst estimates of $41.90 billion. JPMorgan Chase & Co. had a return on equity of 16.99% and a net margin of 20.96%. JPMorgan Chase & Co.’s quarterly revenue was up 10.9% on a year-over-year basis. During the same period in the previous year, the company earned $3.04 earnings per share. As a group, equities analysts anticipate that JPMorgan Chase & Co. will post 18.1 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Friday, April 4th will be issued a dividend of $1.40 per share. The ex-dividend date of this dividend is Friday, April 4th. This is a positive change from JPMorgan Chase & Co.’s previous quarterly dividend of $1.25. This represents a $5.60 annualized dividend and a dividend yield of 2.34%. JPMorgan Chase & Co.’s dividend payout ratio is 28.37%.

About JPMorgan Chase & Co.

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.