Jupiter Asset Management Ltd. Sells 128,144 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Jupiter Asset Management Ltd. cut its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 44.7% in the third quarter, Holdings Channel reports. The firm owned 158,260 shares of the financial services provider’s stock after selling 128,144 shares during the quarter. Jupiter Asset Management Ltd.’s holdings in JPMorgan Chase & Co. were worth $22,951,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the stock. FUKOKU MUTUAL LIFE INSURANCE Co grew its stake in JPMorgan Chase & Co. by 9.1% in the third quarter. FUKOKU MUTUAL LIFE INSURANCE Co now owns 174,600 shares of the financial services provider’s stock valued at $25,320,000 after acquiring an additional 14,500 shares during the period. Central Asset Investments & Management Holdings HK Ltd acquired a new position in JPMorgan Chase & Co. in the third quarter valued at about $566,000. Canada Pension Plan Investment Board grew its stake in JPMorgan Chase & Co. by 38.0% in the third quarter. Canada Pension Plan Investment Board now owns 2,763,385 shares of the financial services provider’s stock valued at $400,746,000 after acquiring an additional 761,000 shares during the period. Herold Advisors Inc. grew its stake in JPMorgan Chase & Co. by 7.1% in the third quarter. Herold Advisors Inc. now owns 35,296 shares of the financial services provider’s stock valued at $5,118,000 after acquiring an additional 2,348 shares during the period. Finally, BCGM Wealth Management LLC grew its stake in JPMorgan Chase & Co. by 3.4% in the third quarter. BCGM Wealth Management LLC now owns 18,434 shares of the financial services provider’s stock valued at $2,673,000 after acquiring an additional 601 shares during the period. 68.94% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have issued reports on JPM. The Goldman Sachs Group reissued a “buy” rating on shares of JPMorgan Chase & Co. in a research note on Thursday, February 1st. Barclays boosted their target price on JPMorgan Chase & Co. from $186.00 to $212.00 and gave the company an “overweight” rating in a research note on Tuesday, January 2nd. Oppenheimer upped their price objective on JPMorgan Chase & Co. from $232.00 to $238.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 30th. Piper Sandler upped their price objective on JPMorgan Chase & Co. from $190.00 to $200.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 16th. Finally, BMO Capital Markets upped their target price on JPMorgan Chase & Co. from $192.00 to $194.00 and gave the stock a “market perform” rating in a report on Tuesday, January 16th. Eight investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, JPMorgan Chase & Co. currently has a consensus rating of “Moderate Buy” and a consensus target price of $179.11.

Read Our Latest Report on JPMorgan Chase & Co.

Insider Buying and Selling

In related news, insider Ashley Bacon sold 3,368 shares of the stock in a transaction that occurred on Tuesday, January 16th. The stock was sold at an average price of $166.73, for a total transaction of $561,546.64. Following the sale, the insider now owns 205,461 shares of the company’s stock, valued at $34,256,512.53. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other JPMorgan Chase & Co. news, Vice Chairman Peter Scher sold 1,812 shares of the firm’s stock in a transaction on Tuesday, January 16th. The stock was sold at an average price of $166.65, for a total value of $301,969.80. Following the sale, the insider now owns 46,766 shares of the company’s stock, valued at approximately $7,793,553.90. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Ashley Bacon sold 3,368 shares of the firm’s stock in a transaction on Tuesday, January 16th. The shares were sold at an average price of $166.73, for a total value of $561,546.64. Following the completion of the sale, the insider now directly owns 205,461 shares in the company, valued at approximately $34,256,512.53. The disclosure for this sale can be found here. Insiders have sold 39,072 shares of company stock valued at $6,297,103 over the last 90 days. 0.79% of the stock is owned by corporate insiders.

JPMorgan Chase & Co. Price Performance

NYSE:JPM opened at $175.01 on Monday. JPMorgan Chase & Co. has a 12-month low of $123.11 and a 12-month high of $178.30. The stock’s 50 day moving average price is $168.65 and its two-hundred day moving average price is $155.28. The company has a quick ratio of 0.90, a current ratio of 0.91 and a debt-to-equity ratio of 1.30. The firm has a market capitalization of $503.44 billion, a price-to-earnings ratio of 10.79, a P/E/G ratio of 2.21 and a beta of 1.14.

JPMorgan Chase & Co. (NYSE:JPMGet Free Report) last posted its earnings results on Friday, January 12th. The financial services provider reported $3.04 EPS for the quarter, missing the consensus estimate of $3.73 by ($0.69). The firm had revenue of $38.57 billion during the quarter, compared to analyst estimates of $39.73 billion. JPMorgan Chase & Co. had a net margin of 20.70% and a return on equity of 17.80%. JPMorgan Chase & Co.’s revenue for the quarter was up 11.7% compared to the same quarter last year. During the same period in the previous year, the company posted $3.57 EPS. On average, analysts anticipate that JPMorgan Chase & Co. will post 15.87 earnings per share for the current year.

JPMorgan Chase & Co. Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 31st. Investors of record on Thursday, January 4th were given a dividend of $1.05 per share. This represents a $4.20 dividend on an annualized basis and a yield of 2.40%. The ex-dividend date of this dividend was Thursday, January 4th. JPMorgan Chase & Co.’s dividend payout ratio is currently 25.89%.

JPMorgan Chase & Co. Profile

(Free Report)

JPMorgan Chase & Co operates as a financial services company worldwide. It operates through four segments: Consumer & Community Banking (CCB), Corporate & Investment Bank (CIB), Commercial Banking (CB), and Asset & Wealth Management (AWM). The CCB segment offers deposit, investment and lending products, cash management, and payments and services to consumers and small businesses; mortgage origination and servicing activities; residential mortgages and home equity loans; and credit cards, auto loans, leases, and travel services.

See Also

Want to see what other hedge funds are holding JPM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for JPMorgan Chase & Co. (NYSE:JPMFree Report).

Institutional Ownership by Quarter for JPMorgan Chase & Co. (NYSE:JPM)

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