ProVise Management Group LLC Has $26.67 Million Position in JPMorgan Chase & Co. (NYSE:JPM)

ProVise Management Group LLC cut its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 6.2% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 111,253 shares of the financial services provider’s stock after selling 7,307 shares during the period. JPMorgan Chase & Co. accounts for 2.3% of ProVise Management Group LLC’s holdings, making the stock its 9th biggest holding. ProVise Management Group LLC’s holdings in JPMorgan Chase & Co. were worth $26,668,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of JPM. DDD Partners LLC increased its position in JPMorgan Chase & Co. by 2.8% during the 4th 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 during the period. Blue Bell Private Wealth Management LLC grew its holdings in JPMorgan Chase & Co. by 1.5% during the fourth quarter. Blue Bell Private Wealth Management LLC now owns 2,594 shares of the financial services provider’s stock worth $622,000 after acquiring an additional 38 shares during the period. Rappaport Reiches Capital Management LLC raised its position 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 acquiring an additional 39 shares in the last quarter. Yoder Wealth Management Inc. lifted its holdings in JPMorgan Chase & Co. by 2.8% in the fourth quarter. Yoder Wealth Management Inc. now owns 1,436 shares of the financial services provider’s stock valued at $344,000 after acquiring an additional 39 shares during the period. Finally, Almanack Investment Partners LLC. boosted its position in shares of 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 worth $1,233,000 after purchasing an additional 39 shares in the last quarter. 71.55% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at JPMorgan Chase & Co.

In related news, CEO Troy L. Rohrbaugh sold 37,500 shares of the firm’s stock in a transaction that occurred 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 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 transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Robin Leopold sold 1,250 shares of the business’s stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $246.92, for a total transaction of $308,650.00. Following the sale, the insider now owns 49,127 shares of the company’s stock, valued at approximately $12,130,438.84. This represents a 2.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 76,848 shares of company stock worth $19,987,908 in the last ninety days. Insiders own 0.79% of the company’s stock.

JPMorgan Chase & Co. Price Performance

JPM stock opened at $250.99 on Wednesday. The stock has a market capitalization of $701.79 billion, a price-to-earnings ratio of 12.71, a price-to-earnings-growth ratio of 2.83 and a beta of 1.10. 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. has a 52-week low of $179.20 and a 52-week high of $280.25. The stock’s fifty day simple moving average is $258.02 and its 200-day simple moving average is $239.98.

JPMorgan Chase & Co. (NYSE:JPM) last posted its quarterly earnings results on Wednesday, January 15th. The financial services provider reported $4.81 EPS for the quarter, beating the consensus estimate of $4.03 by $0.78. The company had revenue of $42.77 billion during the quarter, compared to analysts’ expectations of $41.90 billion. JPMorgan Chase & Co. had a return on equity of 16.99% and a net margin of 20.96%. The firm’s revenue was up 10.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.04 EPS. Equities research analysts expect that JPMorgan Chase & Co. will post 18.1 EPS for the current year.

JPMorgan Chase & Co. Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Friday, April 4th will be paid a dividend of $1.40 per share. The ex-dividend date of this dividend is Friday, April 4th. This represents a $5.60 dividend on an annualized basis and a yield of 2.23%. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.25. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is currently 28.37%.

Analyst Upgrades and Downgrades

JPM has been the subject of a number of research analyst reports. Piper Sandler increased their price target on shares of JPMorgan Chase & Co. from $240.00 to $275.00 and gave the company an “overweight” rating in a report on Tuesday, December 3rd. Bank of America lifted their price target on shares of JPMorgan Chase & Co. from $260.00 to $280.00 and gave the company a “buy” rating in a research report on Tuesday, January 7th. Truist Financial upped their price target on JPMorgan Chase & Co. from $260.00 to $268.00 and gave the stock a “hold” rating in a report on Thursday, January 16th. Robert W. Baird raised JPMorgan Chase & Co. from an “underperform” rating to a “neutral” rating and lifted their price objective for the stock from $215.00 to $220.00 in a report on Friday, March 7th. Finally, UBS Group upped 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. Ten analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $252.89.

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.