Horizon Kinetics Asset Management LLC Sells 322 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Horizon Kinetics Asset Management LLC decreased its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 7.9% in the fourth quarter, HoldingsChannel reports. The fund owned 3,745 shares of the financial services provider’s stock after selling 322 shares during the quarter. Horizon Kinetics Asset Management LLC’s holdings in JPMorgan Chase & Co. were worth $898,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of JPM. Principal Financial Group Inc. boosted its position in shares of JPMorgan Chase & Co. by 3.2% in the third quarter. Principal Financial Group Inc. now owns 5,824,289 shares of the financial services provider’s stock worth $1,228,110,000 after purchasing an additional 182,648 shares during the period. United Bank lifted its stake in shares of JPMorgan Chase & Co. by 2.5% during the 3rd quarter. United Bank now owns 25,354 shares of the financial services provider’s stock valued at $5,346,000 after buying an additional 614 shares in the last quarter. Portfolio Design Labs LLC increased its stake in JPMorgan Chase & Co. by 78.1% in the 3rd quarter. Portfolio Design Labs LLC now owns 18,196 shares of the financial services provider’s stock worth $3,837,000 after buying an additional 7,979 shares in the last quarter. Bellwether Advisors LLC bought a new stake in JPMorgan Chase & Co. during the third quarter valued at about $218,000. Finally, Altman Advisors Inc. bought a new stake in JPMorgan Chase & Co. during the third quarter valued at about $1,891,000. 71.55% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

JPM has been the subject of several research analyst reports. UBS Group increased their target price 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. Baird R W upgraded shares of JPMorgan Chase & Co. from a “strong sell” rating to a “hold” rating in a research report on Friday, March 7th. Keefe, Bruyette & Woods upped their target price on shares of 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. Barclays lifted their price target on shares of JPMorgan Chase & Co. from $304.00 to $330.00 and gave the company an “overweight” rating in a report on Thursday, January 16th. Finally, Truist Financial increased their price objective on shares of JPMorgan Chase & Co. from $260.00 to $268.00 and gave the company a “hold” rating in a report on Thursday, January 16th. Ten investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $252.89.

JPMorgan Chase & Co. Price Performance

JPMorgan Chase & Co. stock opened at $248.23 on Tuesday. The firm has a market capitalization of $694.07 billion, a PE ratio of 12.57, 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 firm has a 50-day moving average price of $257.94 and a 200-day moving average price of $239.71. 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 announced its earnings results on Wednesday, January 15th. The financial services provider reported $4.81 earnings per share (EPS) 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 business had revenue of $42.77 billion during the quarter, compared to analyst estimates of $41.90 billion. During the same quarter in the previous year, the business earned $3.04 earnings per share. The company’s revenue for the quarter was up 10.9% compared to the same quarter last year. As a group, equities research analysts forecast that JPMorgan Chase & Co. will post 18.1 EPS for the current year.

JPMorgan Chase & Co. Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Friday, April 4th will be given a dividend of $1.40 per share. This represents a $5.60 annualized dividend and a dividend yield of 2.26%. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.25. The ex-dividend date of this dividend is Friday, April 4th. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is 28.37%.

Insider Activity

In other JPMorgan Chase & Co. news, General Counsel Stacey Friedman sold 3,303 shares of the business’s 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 of the company’s stock, valued at $12,092,622.80. The trade was a 6.49 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Troy L. Rohrbaugh sold 37,500 shares of the firm’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 transaction of $10,119,000.00. Following the transaction, the chief executive officer now directly owns 158,381 shares in the company, valued at approximately $42,737,529.04. This trade represents a 19.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 76,848 shares of company stock valued at $19,987,908. 0.79% of the stock is currently owned by company insiders.

JPMorgan Chase & Co. Company 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.