Meyer Handelman Co. Has $71.55 Million Holdings in JPMorgan Chase & Co. (NYSE:JPM)

Meyer Handelman Co. trimmed its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 0.2% during the 4th quarter, Holdings Channel reports. The fund owned 298,501 shares of the financial services provider’s stock after selling 688 shares during the period. JPMorgan Chase & Co. comprises about 2.5% of Meyer Handelman Co.’s portfolio, making the stock its 7th largest position. Meyer Handelman Co.’s holdings in JPMorgan Chase & Co. were worth $71,554,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the business. Mizuho Securities Co. Ltd. purchased a new position in shares of JPMorgan Chase & Co. in the 3rd quarter valued at $25,000. Catalyst Capital Advisors LLC purchased a new position in JPMorgan Chase & Co. in the third quarter valued at about $27,000. Fairway Wealth LLC bought a new position in JPMorgan Chase & Co. in the second quarter worth about $32,000. West Financial Advisors LLC purchased a new position in shares of JPMorgan Chase & Co. in the 3rd quarter worth approximately $37,000. Finally, New England Capital Financial Advisors LLC raised its stake in shares of JPMorgan Chase & Co. by 38.5% during the 3rd quarter. New England Capital Financial Advisors LLC now owns 180 shares of the financial services provider’s stock worth $38,000 after acquiring an additional 50 shares in the last quarter. Hedge funds and other institutional investors own 71.55% of the company’s stock.

Insiders Place Their Bets

In other news, General Counsel Stacey Friedman sold 3,303 shares of the company’s stock in a transaction that occurred on Thursday, January 16th. The stock was sold at an average price of $253.94, for a total transaction of $838,763.82. Following the completion of the transaction, the general counsel now directly owns 47,620 shares of the company’s stock, valued at $12,092,622.80. This represents a 6.49 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. 0.79% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. Wolfe Research raised shares of JPMorgan Chase & Co. from a “peer perform” rating to an “outperform” rating and set a $269.00 price target on the stock in a report on Friday, January 3rd. Daiwa Capital Markets dropped their target price on JPMorgan Chase & Co. from $240.00 to $235.00 and set an “overweight” rating on the stock in a research note on Thursday, October 10th. Baird R W cut JPMorgan Chase & Co. from a “hold” rating to a “strong sell” rating in a research note on Thursday, November 7th. Piper Sandler raised their price target on JPMorgan Chase & Co. from $240.00 to $275.00 and gave the stock an “overweight” rating in a report on Tuesday, December 3rd. Finally, Barclays upped their price objective on shares of JPMorgan Chase & Co. from $304.00 to $330.00 and gave the company an “overweight” rating in a report on Thursday. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, JPMorgan Chase & Co. has an average rating of “Hold” and a consensus price target of $251.78.

JPMorgan Chase & Co. Price Performance

Shares of NYSE JPM opened at $254.15 on Friday. The company has a debt-to-equity ratio of 1.27, a current ratio of 0.89 and a quick ratio of 0.89. The stock has a market capitalization of $715.53 billion, a price-to-earnings ratio of 14.14, a PEG ratio of 3.16 and a beta of 1.11. The firm’s 50 day simple moving average is $242.70 and its 200-day simple moving average is $223.72. JPMorgan Chase & Co. has a 12 month low of $165.24 and a 12 month high of $257.04.

JPMorgan Chase & Co. (NYSE:JPM) last released 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 for the quarter, compared to analyst estimates of $41.90 billion. JPMorgan Chase & Co. had a net margin of 19.64% and a return on equity of 16.71%. The firm’s revenue was up 10.9% on a year-over-year basis. During the same quarter last year, the business earned $3.04 earnings per share. Analysts expect that JPMorgan Chase & Co. will post 17.46 EPS for the current year.

JPMorgan Chase & Co. Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Monday, January 6th will be issued a $1.25 dividend. The ex-dividend date of this dividend is Monday, January 6th. This represents a $5.00 dividend on an annualized basis and a yield of 1.97%. JPMorgan Chase & Co.’s payout ratio is 27.82%.

JPMorgan Chase & Co. Company Profile

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; mortgage origination and servicing activities; residential mortgages and home equity loans; and credit cards, auto loans, leases, and travel services to consumers and small businesses through bank branches, ATMs, and digital and telephone banking.