Blume Capital Management Inc. Has $5.55 Million Holdings in JPMorgan Chase & Co. (NYSE:JPM)

Blume Capital Management Inc. cut its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 0.8% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 23,137 shares of the financial services provider’s stock after selling 190 shares during the period. Blume Capital Management Inc.’s holdings in JPMorgan Chase & Co. were worth $5,546,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in JPM. DDD Partners LLC raised its stake in JPMorgan Chase & Co. by 2.8% in the fourth quarter. DDD Partners LLC now owns 1,416 shares of the financial services provider’s stock valued at $339,000 after purchasing an additional 38 shares in the last quarter. Blue Bell Private Wealth Management LLC raised its stake in JPMorgan Chase & Co. by 1.5% in the fourth quarter. Blue Bell Private Wealth Management LLC now owns 2,594 shares of the financial services provider’s stock valued at $622,000 after purchasing an additional 38 shares in the last quarter. Rappaport Reiches Capital Management LLC raised its stake 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 valued at $256,000 after purchasing an additional 39 shares in the last quarter. Yoder Wealth Management Inc. raised its stake in JPMorgan Chase & Co. by 2.8% during the fourth quarter. Yoder Wealth Management Inc. now owns 1,436 shares of the financial services provider’s stock worth $344,000 after acquiring an additional 39 shares in the last quarter. Finally, Almanack Investment Partners LLC. raised its stake in JPMorgan Chase & Co. by 0.8% during the fourth quarter. Almanack Investment Partners LLC. now owns 5,143 shares of the financial services provider’s stock worth $1,233,000 after acquiring an additional 39 shares in the last quarter. 71.55% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. Bank of America boosted their target price on JPMorgan Chase & Co. from $260.00 to $280.00 and gave the stock a “buy” rating in a research note on Tuesday, January 7th. Keefe, Bruyette & Woods boosted their target price on JPMorgan Chase & Co. from $257.00 to $264.00 and gave the stock a “market perform” rating in a research note on Thursday, January 16th. UBS Group boosted their target price on JPMorgan Chase & Co. from $276.00 to $287.00 and gave the stock a “buy” rating in a research note on Thursday, January 16th. Barclays upped their price objective on JPMorgan Chase & Co. from $304.00 to $330.00 and gave the company an “overweight” rating in a research note on Thursday, January 16th. Finally, Piper Sandler upped their price objective on JPMorgan Chase & Co. from $240.00 to $275.00 and gave the company an “overweight” rating in a research note on Tuesday, December 3rd. Ten equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, JPMorgan Chase & Co. has an average rating of “Moderate Buy” and a consensus target price of $252.89.

Insider Transactions at JPMorgan Chase & Co.

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 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Troy L. Rohrbaugh sold 37,500 shares of the company’s stock in a transaction that occurred on Thursday, February 20th. The stock was 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 directly owns 158,381 shares in the company, valued at $42,737,529.04. The trade was a 19.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 46,326 shares of company stock valued at $12,448,445 over the last ninety days. 0.79% of the stock is owned by company insiders.

JPMorgan Chase & Co. Price Performance

JPMorgan Chase & Co. stock opened at $241.49 on Friday. The stock has a market capitalization of $675.24 billion, a price-to-earnings ratio of 12.23, a PEG ratio of 2.83 and a beta of 1.10. JPMorgan Chase & Co. has a 52-week low of $179.20 and a 52-week high of $280.25. The stock’s 50 day moving average price is $257.86 and its two-hundred day moving average price is $239.22. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.89 and a current ratio of 0.88.

JPMorgan Chase & Co. (NYSE:JPM) last posted its quarterly earnings results on Wednesday, January 15th. The financial services provider reported $4.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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%. The company’s revenue for the quarter was up 10.9% compared to the same quarter last year. During the same period in the prior year, the business earned $3.04 EPS. On average, equities analysts predict that JPMorgan Chase & Co. will post 18.1 earnings per share for the current year.

JPMorgan Chase & Co. Increases Dividend

The company also recently announced 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 2.32%. This is a positive change from JPMorgan Chase & Co.’s previous quarterly dividend of $1.25. The ex-dividend date of this dividend is Friday, April 4th. JPMorgan Chase & Co.’s dividend payout ratio is presently 28.37%.

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.