PFG Advisors Reduces Stake in JPMorgan Chase & Co. (NYSE:JPM)

PFG Advisors lowered its position in JPMorgan Chase & Co. (NYSE:JPM) by 3.3% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 33,515 shares of the financial services provider’s stock after selling 1,156 shares during the period. PFG Advisors’ holdings in JPMorgan Chase & Co. were worth $8,034,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Principal Financial Group Inc. raised its stake in shares of JPMorgan Chase & Co. by 3.2% during the 3rd quarter. Principal Financial Group Inc. now owns 5,824,289 shares of the financial services provider’s stock worth $1,228,110,000 after buying an additional 182,648 shares during the period. United Bank increased its position in shares of JPMorgan Chase & Co. by 2.5% during the third quarter. United Bank now owns 25,354 shares of the financial services provider’s stock worth $5,346,000 after purchasing an additional 614 shares in the last quarter. Maxwell Wealth Strategies Inc. increased its position in shares of JPMorgan Chase & Co. by 21.9% during the third quarter. Maxwell Wealth Strategies Inc. now owns 32,622 shares of the financial services provider’s stock worth $7,225,000 after purchasing an additional 5,852 shares in the last quarter. RIA Advisory Group LLC purchased a new stake in shares of JPMorgan Chase & Co. during the third quarter worth approximately $402,000. Finally, KPP Advisory Services LLC increased its position in shares of JPMorgan Chase & Co. by 0.8% during the third quarter. KPP Advisory Services LLC now owns 13,136 shares of the financial services provider’s stock worth $2,770,000 after purchasing an additional 104 shares in the last quarter. Hedge funds and other institutional investors own 71.55% of the company’s stock.

JPMorgan Chase & Co. Stock Performance

NYSE JPM opened at $238.86 on Friday. The stock has a market cap of $667.89 billion, a PE ratio of 12.10, a P/E/G ratio of 2.83 and a beta of 1.10. 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. has a twelve month low of $179.20 and a twelve month high of $280.25. The stock has a fifty day simple moving average of $257.83 and a 200-day simple moving average of $239.11.

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 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 quarter in the prior year, the company earned $3.04 EPS. JPMorgan Chase & Co.’s revenue was up 10.9% on a year-over-year basis. Equities analysts anticipate that JPMorgan Chase & Co. will post 18.1 earnings per share for the current year.

JPMorgan Chase & Co. Increases Dividend

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

Wall Street Analyst Weigh In

Several analysts recently commented on the company. Keefe, Bruyette & Woods boosted their price target on JPMorgan Chase & Co. from $257.00 to $264.00 and gave the stock a “market perform” rating in a research report on Thursday, January 16th. Robert W. Baird upgraded JPMorgan Chase & Co. from an “underperform” rating to a “neutral” rating and boosted their price target for the stock from $215.00 to $220.00 in a research report on Friday, March 7th. Wolfe Research upgraded JPMorgan Chase & Co. from a “peer perform” rating to an “outperform” rating and set a $269.00 price target for the company in a research report on Friday, January 3rd. UBS Group boosted their price target on JPMorgan Chase & Co. from $276.00 to $287.00 and gave the stock a “buy” rating in a research report on Thursday, January 16th. Finally, Piper Sandler upped 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. Ten analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $252.89.

Insider Buying and Selling

In related news, insider Robin Leopold sold 1,250 shares of the stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $270.09, for a total transaction of $337,612.50. Following the transaction, the insider now owns 50,377 shares of the company’s stock, valued at approximately $13,606,323.93. This represents a 2.42 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, General Counsel Stacey Friedman sold 3,303 shares of the stock in a transaction dated Thursday, January 16th. The shares were sold at an average price of $253.94, for a total value of $838,763.82. Following the completion of the sale, the general counsel now directly owns 47,620 shares in the company, valued at $12,092,622.80. This represents a 6.49 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 46,326 shares of company stock valued at $12,448,445. Corporate 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.