JPMorgan Chase & Co. (NYSE:JPM) Position Reduced by Abbrea Capital LLC

Abbrea Capital LLC reduced its position in JPMorgan Chase & Co. (NYSE:JPM) by 1.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 42,198 shares of the financial services provider’s stock after selling 813 shares during the period. JPMorgan Chase & Co. comprises approximately 0.8% of Abbrea Capital LLC’s holdings, making the stock its 25th largest position. Abbrea Capital LLC’s holdings in JPMorgan Chase & Co. were worth $4,410,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in JPM. Homestead Advisers Corp lifted its position in shares of JPMorgan Chase & Co. by 1.0% in the second quarter. Homestead Advisers Corp now owns 1,165,236 shares of the financial services provider’s stock worth $131,217,000 after purchasing an additional 11,000 shares in the last quarter. Total Clarity Wealth Management Inc. lifted its position in JPMorgan Chase & Co. by 3.7% in the 2nd quarter. Total Clarity Wealth Management Inc. now owns 11,430 shares of the financial services provider’s stock worth $1,287,000 after buying an additional 407 shares in the last quarter. Aptus Capital Advisors LLC boosted its stake in shares of JPMorgan Chase & Co. by 11.3% during the 3rd quarter. Aptus Capital Advisors LLC now owns 153,622 shares of the financial services provider’s stock valued at $16,054,000 after buying an additional 15,607 shares during the period. Leisure Capital Management grew its holdings in shares of JPMorgan Chase & Co. by 2.7% during the 3rd quarter. Leisure Capital Management now owns 22,736 shares of the financial services provider’s stock valued at $2,376,000 after acquiring an additional 600 shares in the last quarter. Finally, Handelsbanken Fonder AB increased its stake in shares of JPMorgan Chase & Co. by 2.0% in the second quarter. Handelsbanken Fonder AB now owns 621,950 shares of the financial services provider’s stock worth $70,038,000 after acquiring an additional 12,411 shares during the last quarter. Institutional investors and hedge funds own 67.89% of the company’s stock.

Insiders Place Their Bets

In other news, Director Mellody L. Hobson acquired 375 shares of the stock in a transaction dated Thursday, January 19th. The shares were acquired at an average cost of $134.53 per share, for a total transaction of $50,448.75. Following the completion of the transaction, the director now owns 22,040 shares in the company, valued at approximately $2,965,041.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Vice Chairman Peter Scher sold 4,399 shares of JPMorgan Chase & Co. stock in a transaction dated Tuesday, January 17th. The shares were sold at an average price of $140.32, for a total transaction of $617,267.68. Following the sale, the insider now directly owns 36,369 shares in the company, valued at approximately $5,103,298.08. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Mellody L. Hobson purchased 375 shares of the company’s stock in a transaction that occurred on Thursday, January 19th. The stock was acquired at an average cost of $134.53 per share, with a total value of $50,448.75. Following the transaction, the director now directly owns 22,040 shares of the company’s stock, valued at $2,965,041.20. The disclosure for this purchase can be found here. In the last quarter, insiders sold 37,887 shares of company stock worth $5,315,762. 0.79% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. UBS Group set a $156.00 price objective on JPMorgan Chase & Co. in a research report on Friday, January 13th. StockNews.com initiated coverage on JPMorgan Chase & Co. in a report on Wednesday, October 12th. They issued a “hold” rating on the stock. Piper Sandler lifted their target price on shares of JPMorgan Chase & Co. from $150.00 to $157.00 in a research note on Tuesday, January 17th. Royal Bank of Canada set a $130.00 target price on shares of JPMorgan Chase & Co. in a research report on Friday, January 13th. Finally, Deutsche Bank Aktiengesellschaft downgraded shares of JPMorgan Chase & Co. from a “buy” rating to a “hold” rating and cut their price target for the company from $155.00 to $145.00 in a report on Friday, January 6th. Seven investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $147.89.

JPMorgan Chase & Co. Stock Up 0.9 %

JPM opened at $138.45 on Wednesday. The business has a 50 day moving average of $134.78 and a 200-day moving average of $123.13. The stock has a market capitalization of $406.10 billion, a price-to-earnings ratio of 11.46, a P/E/G ratio of 2.10 and a beta of 1.13. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 1.12. JPMorgan Chase & Co. has a 1-year low of $101.28 and a 1-year high of $159.03.

JPMorgan Chase & Co. (NYSE:JPMGet Rating) last posted its quarterly earnings results on Friday, January 13th. The financial services provider reported $3.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.11 by $0.46. JPMorgan Chase & Co. had a net margin of 24.34% and a return on equity of 14.68%. The company had revenue of $34.55 billion for the quarter, compared to analyst estimates of $34.23 billion. During the same period last year, the business posted $3.33 EPS. The business’s quarterly revenue was up 18.1% on a year-over-year basis. As a group, sell-side analysts anticipate that JPMorgan Chase & Co. will post 12.88 earnings per share for the current year.

JPMorgan Chase & Co. Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 31st. Shareholders of record on Friday, January 6th will be issued a $1.00 dividend. The ex-dividend date of this dividend is Thursday, January 5th. This represents a $4.00 annualized dividend and a yield of 2.89%. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is 33.11%.

JPMorgan Chase & Co. Profile

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JPMorgan Chase & Co is a financial holding company. It provides 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.

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Institutional Ownership by Quarter for JPMorgan Chase & Co. (NYSE:JPM)

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