Congress Wealth Management LLC DE Sells 800 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Congress Wealth Management LLC DE decreased its position in JPMorgan Chase & Co. (NYSE:JPM) by 0.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 193,218 shares of the financial services provider’s stock after selling 800 shares during the quarter. Congress Wealth Management LLC DE’s holdings in JPMorgan Chase & Co. were worth $46,316,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. Midwest Capital Advisors LLC purchased a new stake in JPMorgan Chase & Co. during the fourth quarter valued at $43,000. Legacy Investment Solutions LLC purchased a new stake in shares of JPMorgan Chase & Co. during the 3rd quarter valued at about $45,000. Collier Financial purchased a new stake in shares of JPMorgan Chase & Co. during the 4th quarter valued at about $45,000. Lowe Wealth Advisors LLC lifted its holdings in shares of JPMorgan Chase & Co. by 34.0% in the 4th quarter. Lowe Wealth Advisors LLC now owns 201 shares of the financial services provider’s stock valued at $48,000 after acquiring an additional 51 shares during the last quarter. Finally, Kieckhefer Group LLC purchased a new position in JPMorgan Chase & Co. in the fourth quarter worth about $50,000. 71.55% of the stock is owned by hedge funds and other institutional investors.

JPMorgan Chase & Co. Stock Performance

JPM stock opened at $242.97 on Friday. JPMorgan Chase & Co. has a 1-year low of $179.20 and a 1-year high of $280.25. The business has a 50-day moving average price of $257.55 and a 200 day moving average price of $240.54. The company has a market capitalization of $679.36 billion, a P/E ratio of 12.31, a PEG ratio of 2.83 and a beta of 1.10. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.88 and a quick ratio of 0.89.

JPMorgan Chase & Co. (NYSE:JPM) last posted 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. JPMorgan Chase & Co. had a net margin of 20.96% and a return on equity of 16.99%. The business had revenue of $42.77 billion during the quarter, compared to analyst estimates of $41.90 billion. During the same quarter in the previous year, the business posted $3.04 EPS. The company’s quarterly revenue was up 10.9% compared to the same quarter last year. As a group, equities research 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. Shareholders of record on Friday, April 4th will be issued a dividend of $1.40 per share. The ex-dividend date of this dividend is Friday, April 4th. This represents a $5.60 dividend on an annualized basis and a yield of 2.30%. This is a positive change from JPMorgan Chase & Co.’s previous quarterly dividend of $1.25. JPMorgan Chase & Co.’s dividend payout ratio is currently 28.37%.

Insider Buying and Selling at JPMorgan Chase & Co.

In other JPMorgan Chase & Co. news, COO Jennifer Piepszak sold 4,273 shares of the business’s 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 completion of the transaction, the chief operating officer now directly owns 54,469 shares in the company, valued at approximately $14,698,459.65. The trade was a 7.27 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, General Counsel Stacey Friedman sold 3,303 shares of the firm’s stock in a transaction dated Thursday, January 16th. The shares were sold at an average price of $253.94, for a total transaction of $838,763.82. Following the completion of the sale, the general counsel now owns 47,620 shares in the company, valued at $12,092,622.80. This represents a 6.49 % decrease in their ownership of the stock. 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. 0.79% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

JPM has been the subject of several analyst reports. Piper Sandler raised 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. Bank of America raised their price target on JPMorgan Chase & Co. from $260.00 to $280.00 and gave the stock a “buy” rating in a research report on Tuesday, January 7th. Barclays boosted their price objective on shares of JPMorgan Chase & Co. from $304.00 to $330.00 and gave the company an “overweight” rating in a research report on Thursday, January 16th. Wolfe Research upgraded shares of JPMorgan Chase & Co. from a “peer perform” rating to an “outperform” rating and set a $269.00 target price for the company in a report on Friday, January 3rd. Finally, Keefe, Bruyette & Woods upped their price target on shares of JPMorgan Chase & Co. from $257.00 to $264.00 and gave the company a “market perform” rating in a report on Thursday, January 16th. Ten analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average 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.