JPMorgan Chase & Co. (NYSE:JPM) Shares Sold by Kimelman & Baird LLC

Kimelman & Baird LLC reduced its position in JPMorgan Chase & Co. (NYSE:JPM) by 3.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 248,941 shares of the financial services provider’s stock after selling 7,671 shares during the period. JPMorgan Chase & Co. comprises about 4.7% of Kimelman & Baird LLC’s holdings, making the stock its 4th largest position. Kimelman & Baird LLC’s holdings in JPMorgan Chase & Co. were worth $59,674,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Midwest Capital Advisors LLC acquired a new position in JPMorgan Chase & Co. in the fourth quarter worth approximately $43,000. Collier Financial acquired a new position in shares of JPMorgan Chase & Co. during the 4th quarter worth $45,000. Lowe Wealth Advisors LLC raised its holdings in shares of JPMorgan Chase & Co. by 34.0% during the 4th quarter. Lowe Wealth Advisors LLC now owns 201 shares of the financial services provider’s stock valued at $48,000 after purchasing an additional 51 shares in the last quarter. Kieckhefer Group LLC bought a new position in shares of JPMorgan Chase & Co. during the 4th quarter valued at $50,000. Finally, Legacy Investment Solutions LLC bought a new stake in JPMorgan Chase & Co. in the third quarter worth $45,000. 71.55% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Piper Sandler raised 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. Robert W. Baird upgraded JPMorgan Chase & Co. from an “underperform” rating to a “neutral” rating and boosted their target price for the stock from $215.00 to $220.00 in a report on Friday, March 7th. Keefe, Bruyette & Woods upped their target price 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. Baird R W raised shares of JPMorgan Chase & Co. from a “strong sell” rating to a “hold” rating in a research report on Friday, March 7th. Finally, Truist Financial upped their price objective on shares of JPMorgan Chase & Co. from $260.00 to $268.00 and gave the stock a “hold” rating in a report on Thursday, January 16th. Ten analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $252.89.

JPMorgan Chase & Co. Stock Performance

JPM opened at $248.23 on Tuesday. The stock’s 50 day simple moving average is $257.94 and its 200-day simple moving average is $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. The stock has a market cap of $694.07 billion, a PE ratio of 12.57, a P/E/G ratio of 2.83 and a beta of 1.10. JPMorgan Chase & Co. has a 1 year low of $179.20 and a 1 year high of $280.25.

JPMorgan Chase & Co. (NYSE:JPM) last announced its quarterly 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 net margin of 20.96% and a return on equity of 16.99%. 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 previous year, the firm posted $3.04 EPS. The business’s revenue for the quarter was up 10.9% on a year-over-year basis. Sell-side analysts forecast that JPMorgan Chase & Co. will post 18.1 EPS for the current year.

JPMorgan Chase & Co. Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Friday, April 4th will be issued a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a yield of 2.26%. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.25. The ex-dividend date is Friday, April 4th. JPMorgan Chase & Co.’s payout ratio is presently 28.37%.

Insider Activity

In other news, insider Robin Leopold sold 1,250 shares of the company’s stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $270.09, for a total value of $337,612.50. Following the sale, 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 document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Troy L. Rohrbaugh sold 37,500 shares of JPMorgan Chase & Co. stock in a transaction dated Thursday, February 20th. The shares were 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 of the company’s stock, valued at $42,737,529.04. This represents a 19.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 76,848 shares of company stock worth $19,987,908. Company 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.