Harvest Fund Management Co. Ltd Cuts Stake in JPMorgan Chase & Co. (NYSE:JPM)

Harvest Fund Management Co. Ltd reduced its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 36.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,442 shares of the financial services provider’s stock after selling 2,001 shares during the period. Harvest Fund Management Co. Ltd’s holdings in JPMorgan Chase & Co. were worth $586,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of JPM. Opal Wealth Advisors LLC lifted its holdings in shares of JPMorgan Chase & Co. by 9.2% during the 3rd quarter. Opal Wealth Advisors LLC now owns 5,787 shares of the financial services provider’s stock worth $839,000 after acquiring an additional 489 shares during the period. Fiduciary Alliance LLC increased its position in JPMorgan Chase & Co. by 1.7% during the 3rd quarter. Fiduciary Alliance LLC now owns 103,775 shares of the financial services provider’s stock worth $15,049,000 after purchasing an additional 1,710 shares in the last quarter. Czech National Bank increased its position in JPMorgan Chase & Co. by 46.8% during the 3rd quarter. Czech National Bank now owns 507,948 shares of the financial services provider’s stock worth $73,663,000 after purchasing an additional 162,007 shares in the last quarter. L. Roy Papp & Associates LLP increased its position in JPMorgan Chase & Co. by 2.5% during the 3rd quarter. L. Roy Papp & Associates LLP now owns 25,800 shares of the financial services provider’s stock worth $3,742,000 after purchasing an additional 635 shares in the last quarter. Finally, Asset Management One Co. Ltd. increased its position in JPMorgan Chase & Co. by 1.7% during the 3rd quarter. Asset Management One Co. Ltd. now owns 1,410,979 shares of the financial services provider’s stock worth $204,620,000 after purchasing an additional 23,732 shares in the last quarter. 71.55% of the stock is currently owned by hedge funds and other institutional investors.

JPMorgan Chase & Co. Stock Performance

Shares of JPM opened at $191.81 on Wednesday. The business’s fifty day moving average price is $190.88 and its 200 day moving average price is $171.56. JPMorgan Chase & Co. has a 12-month low of $131.81 and a 12-month high of $200.94. The stock has a market capitalization of $550.90 billion, a PE ratio of 11.58, a price-to-earnings-growth ratio of 2.43 and a beta of 1.15. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.92 and a quick ratio of 0.91.

JPMorgan Chase & Co. Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 30th. Investors of record on Friday, April 5th were paid a dividend of $1.15 per share. The ex-dividend date was Thursday, April 4th. This is a boost from JPMorgan Chase & Co.’s previous quarterly dividend of $1.05. This represents a $4.60 annualized dividend and a yield of 2.40%. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is 27.78%.

Analyst Ratings Changes

JPM has been the subject of a number of research analyst reports. Royal Bank of Canada reissued an “outperform” rating and set a $185.00 target price on shares of JPMorgan Chase & Co. in a research report on Wednesday, March 20th. The Goldman Sachs Group reissued a “buy” rating on shares of JPMorgan Chase & Co. in a research report on Thursday, February 1st. Piper Sandler dropped their target price on shares of JPMorgan Chase & Co. from $220.00 to $215.00 and set an “overweight” rating for the company in a research report on Monday, April 15th. Morgan Stanley lowered their price objective on shares of JPMorgan Chase & Co. from $221.00 to $216.00 and set an “overweight” rating for the company in a research report on Monday, April 15th. Finally, UBS Group lowered their price objective on shares of JPMorgan Chase & Co. from $226.00 to $219.00 and set a “buy” rating for the company in a research report on Tuesday, April 16th. Eight equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $192.05.

Insider Buying and Selling

In related news, CEO Jennifer Piepszak sold 1,648 shares of the firm’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $178.96, for a total transaction of $294,926.08. Following the transaction, the chief executive officer now directly owns 32,819 shares in the company, valued at $5,873,288.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other JPMorgan Chase & Co. news, insider Ashley Bacon sold 3,368 shares of the firm’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $179.00, for a total value of $602,872.00. Following the sale, the insider now directly owns 202,093 shares in the company, valued at $36,174,647. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Jennifer Piepszak sold 1,648 shares of the firm’s stock in a transaction on Friday, February 16th. The shares were sold at an average price of $178.96, for a total value of $294,926.08. Following the completion of the sale, the chief executive officer now owns 32,819 shares in the company, valued at $5,873,288.24. The disclosure for this sale can be found here. Insiders have sold 1,020,696 shares of company stock worth $186,794,151 over the last ninety days. 0.79% of the stock is owned by insiders.

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.