JPMorgan Chase & Co. (NYSE:JPM) is Meridian Wealth Advisors LLC’s 8th Largest Position

Meridian Wealth Advisors LLC cut its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 0.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 57,323 shares of the financial services provider’s stock after selling 392 shares during the period. JPMorgan Chase & Co. accounts for about 2.3% of Meridian Wealth Advisors LLC’s portfolio, making the stock its 8th biggest position. Meridian Wealth Advisors LLC’s holdings in JPMorgan Chase & Co. were worth $13,741,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also modified their holdings of JPM. Midwest Capital Advisors LLC bought a new position in JPMorgan Chase & Co. during the 4th quarter valued at about $43,000. Legacy Investment Solutions LLC purchased a new position in shares of JPMorgan Chase & Co. during the third quarter valued at approximately $45,000. Collier Financial bought a new position in shares of JPMorgan Chase & Co. during the fourth quarter valued at approximately $45,000. Lowe Wealth Advisors LLC raised its holdings in shares of JPMorgan Chase & Co. by 34.0% in the fourth quarter. Lowe Wealth Advisors LLC now owns 201 shares of the financial services provider’s stock worth $48,000 after buying an additional 51 shares during the period. Finally, Kieckhefer Group LLC bought a new stake in shares of JPMorgan Chase & Co. during the 4th quarter worth approximately $50,000. 71.55% of the stock is owned by institutional investors.

JPMorgan Chase & Co. Price Performance

NYSE JPM opened at $242.97 on Friday. The firm’s fifty day simple moving average is $257.55 and its two-hundred day simple moving average is $240.54. The firm has a market capitalization of $679.36 billion, a P/E ratio of 12.31, 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 12-month low of $179.20 and a 12-month high of $280.25.

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 company had revenue of $42.77 billion for the quarter, compared to analyst estimates of $41.90 billion. The firm’s quarterly revenue was up 10.9% compared to the same quarter last year. During the same period in the prior year, the company posted $3.04 EPS. Analysts forecast that JPMorgan Chase & Co. will post 18.1 EPS 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. Investors of record on Friday, April 4th will be paid a $1.40 dividend. The ex-dividend date of this dividend is Friday, April 4th. This is a boost from JPMorgan Chase & Co.’s previous quarterly dividend of $1.25. This represents a $5.60 dividend on an annualized basis and a yield of 2.30%. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is 28.37%.

Insiders Place Their Bets

In other JPMorgan Chase & Co. news, insider Robin Leopold sold 1,250 shares of JPMorgan Chase & Co. stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $246.92, for a total transaction of $308,650.00. Following the completion of the sale, the insider now owns 49,127 shares of the company’s stock, valued at approximately $12,130,438.84. The trade was a 2.48 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Troy L. Rohrbaugh sold 37,500 shares of the business’s stock in a transaction dated 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 sale, the chief executive officer now owns 158,381 shares in the company, valued at approximately $42,737,529.04. The trade was a 19.14 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 76,848 shares of company stock valued at $19,987,908. Insiders own 0.79% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the company. Baird R W raised JPMorgan Chase & Co. from a “strong sell” rating to a “hold” rating in a research report on Friday, March 7th. Barclays upped their price target on shares of JPMorgan Chase & Co. from $304.00 to $330.00 and gave the stock an “overweight” rating in a report on Thursday, January 16th. Robert W. Baird raised shares of JPMorgan Chase & Co. from an “underperform” rating to a “neutral” rating and raised their price target for the stock from $215.00 to $220.00 in a research note on Friday, March 7th. Bank of America boosted their price objective 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. Finally, Truist Financial raised their target price on shares of JPMorgan Chase & Co. from $260.00 to $268.00 and gave the stock a “hold” rating in a research report on Thursday, January 16th. Ten research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $252.89.

About JPMorgan Chase & Co.

JPMorgan Chase & Co is a financial holding company, which engages in the provision of financial and investment banking services. It focuses on investment banking, financial services for consumers and small businesses, commercial banking, financial transaction processing, and asset management. It operates through the following segments: Consumer and Community Banking (CCB), Commercial and Investment Bank (CIB), Asset and Wealth Management (AWM), and Corporate.