Wellspring Financial Advisors LLC Lowers Stock Holdings in JPMorgan Chase & Co. (NYSE:JPM)

Wellspring Financial Advisors LLC cut its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 7.4% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 4,003 shares of the financial services provider’s stock after selling 322 shares during the period. Wellspring Financial Advisors LLC’s holdings in JPMorgan Chase & Co. were worth $959,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Sellwood Investment Partners LLC purchased a new stake in shares of JPMorgan Chase & Co. during the fourth quarter worth approximately $34,000. Midwest Capital Advisors LLC purchased a new position in JPMorgan Chase & Co. in the 4th quarter valued at $43,000. Prudent Man Investment Management Inc. acquired a new position in JPMorgan Chase & Co. in the 4th quarter valued at $43,000. Legacy Investment Solutions LLC purchased a new position in JPMorgan Chase & Co. during the 3rd quarter worth $45,000. Finally, Collier Financial acquired a new stake in shares of JPMorgan Chase & Co. in the 4th quarter worth $45,000. 71.55% of the stock is owned by hedge funds and other institutional investors.

JPMorgan Chase & Co. Stock Up 1.8 %

JPM stock opened at $214.01 on Tuesday. 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 firm has a 50 day simple moving average of $253.67 and a 200-day simple moving average of $241.77. The company has a market capitalization of $598.39 billion, a P/E ratio of 10.84, a PEG ratio of 2.83 and a beta of 1.01. JPMorgan Chase & Co. has a twelve month low of $179.20 and a twelve month high of $280.25.

JPMorgan Chase & Co. (NYSE:JPM) last announced its quarterly earnings data 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. The firm had revenue of $42.77 billion for 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%. JPMorgan Chase & Co.’s revenue for the quarter was up 10.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.04 earnings per share. On average, equities research analysts predict that JPMorgan Chase & Co. will post 18.1 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Friday, April 4th will be given a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a dividend yield of 2.62%. This is a boost from JPMorgan Chase & Co.’s previous quarterly dividend of $1.25. The ex-dividend date is Friday, April 4th. JPMorgan Chase & Co.’s dividend payout ratio is presently 28.37%.

Insider Buying and Selling

In related news, COO Jennifer Piepszak sold 4,273 shares of the stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $269.85, for a total value of $1,153,069.05. Following the sale, the chief operating officer now owns 54,469 shares of the company’s stock, valued at $14,698,459.65. This trade represents a 7.27 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Robin Leopold sold 1,250 shares of the firm’s stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $270.09, for a total transaction of $337,612.50. Following the completion of the sale, the insider now owns 50,377 shares in the company, valued at $13,606,323.93. The trade was a 2.42 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 76,848 shares of company stock valued at $19,987,908. Insiders own 0.79% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on JPM shares. Truist Financial dropped their price target on shares of JPMorgan Chase & Co. from $268.00 to $264.00 and set a “hold” rating on the stock in a research note on Friday. Wolfe Research upgraded JPMorgan Chase & Co. from a “peer perform” rating to an “outperform” rating and set a $269.00 target price on the stock in a research report on Friday, January 3rd. Evercore ISI cut their target price on JPMorgan Chase & Co. from $273.00 to $265.00 and set an “outperform” rating for the company in a research note on Tuesday, April 1st. Robert W. Baird upgraded JPMorgan Chase & Co. from an “underperform” rating to a “neutral” rating and lifted their price target for the company from $215.00 to $220.00 in a research note on Friday, March 7th. Finally, Barclays upped their price objective on JPMorgan Chase & Co. from $304.00 to $330.00 and gave the stock an “overweight” rating in a report on Thursday, January 16th. Ten investment 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, JPMorgan Chase & Co. currently has an average rating of “Moderate Buy” and a consensus target price of $254.83.

JPMorgan Chase & Co. Company Profile

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.