JPMorgan Chase & Co. (NYSE:JPM) Shares Sold by Ipswich Investment Management Co. Inc.

Ipswich Investment Management Co. Inc. decreased its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 0.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 45,267 shares of the financial services provider’s stock after selling 168 shares during the quarter. JPMorgan Chase & Co. comprises 1.9% of Ipswich Investment Management Co. Inc.’s holdings, making the stock its 8th biggest position. Ipswich Investment Management Co. Inc.’s holdings in JPMorgan Chase & Co. were worth $7,700,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in JPM. Vantage Investment Partners LLC raised its position in JPMorgan Chase & Co. by 0.8% during the 4th quarter. Vantage Investment Partners LLC now owns 93,975 shares of the financial services provider’s stock worth $15,985,000 after buying an additional 787 shares during the last quarter. Hunter Associates Investment Management LLC raised its holdings in shares of JPMorgan Chase & Co. by 8.6% during the fourth quarter. Hunter Associates Investment Management LLC now owns 10,531 shares of the financial services provider’s stock worth $1,791,000 after purchasing an additional 835 shares during the last quarter. Kornitzer Capital Management Inc. KS lifted its position in JPMorgan Chase & Co. by 0.8% during the fourth quarter. Kornitzer Capital Management Inc. KS now owns 91,836 shares of the financial services provider’s stock valued at $15,621,000 after purchasing an additional 770 shares during the period. J.W. Cole Advisors Inc. boosted its holdings in JPMorgan Chase & Co. by 11.2% in the fourth quarter. J.W. Cole Advisors Inc. now owns 38,898 shares of the financial services provider’s stock valued at $6,617,000 after purchasing an additional 3,917 shares during the last quarter. Finally, Castle Wealth Management LLC grew its position in JPMorgan Chase & Co. by 9.1% during the 4th quarter. Castle Wealth Management LLC now owns 9,601 shares of the financial services provider’s stock worth $1,633,000 after purchasing an additional 802 shares during the period. Hedge funds and other institutional investors own 71.55% of the company’s stock.

JPMorgan Chase & Co. Stock Performance

JPM opened at $193.50 on Friday. JPMorgan Chase & Co. has a twelve month low of $131.81 and a twelve month high of $200.94. The firm has a market capitalization of $555.75 billion, a PE ratio of 11.68, a PEG ratio of 2.43 and a beta of 1.15. The company has a current ratio of 0.92, a quick ratio of 0.91 and a debt-to-equity ratio of 1.29. The firm’s 50-day moving average price is $190.36 and its 200 day moving average price is $170.57.

JPMorgan Chase & Co. Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Friday, April 5th will be issued a dividend of $1.15 per share. This is a boost from JPMorgan Chase & Co.’s previous quarterly dividend of $1.05. This represents a $4.60 annualized dividend and a dividend yield of 2.38%. The ex-dividend date of this dividend is Thursday, April 4th. JPMorgan Chase & Co.’s payout ratio is currently 27.78%.

Wall Street Analysts Forecast Growth

JPM has been the subject of several analyst reports. Wells Fargo & Company boosted their price objective on JPMorgan Chase & Co. from $200.00 to $220.00 and gave the company an “overweight” rating in a report on Wednesday, March 20th. Piper Sandler lowered their price objective on JPMorgan Chase & Co. from $220.00 to $215.00 and set an “overweight” rating on the stock in a research report on Monday, April 15th. Jefferies Financial Group lifted their target price on shares of JPMorgan Chase & Co. from $202.00 to $228.00 and gave the company a “buy” rating in a report on Monday, April 8th. Keefe, Bruyette & Woods increased their price target on shares of JPMorgan Chase & Co. from $182.00 to $195.00 and gave the stock a “market perform” rating in a report on Friday, April 5th. Finally, Bank of America raised their price target on shares of JPMorgan Chase & Co. from $177.00 to $188.00 and gave the company a “buy” rating in a research report on Thursday, January 4th. Eight investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, JPMorgan Chase & Co. has a consensus rating of “Moderate Buy” and a consensus price target of $192.05.

Insider Activity

In related news, General Counsel Stacey Friedman sold 6,030 shares of JPMorgan Chase & Co. stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $182.73, for a total transaction of $1,101,861.90. Following the transaction, the general counsel now owns 59,456 shares in the company, valued at $10,864,394.88. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In related news, General Counsel Stacey Friedman sold 6,030 shares of the firm’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $182.73, for a total transaction of $1,101,861.90. Following the completion of the sale, the general counsel now directly owns 59,456 shares in the company, valued at $10,864,394.88. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Vice Chairman Peter Scher sold 1,810 shares of JPMorgan Chase & Co. stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $178.96, for a total transaction of $323,917.60. Following the transaction, the insider now directly owns 44,956 shares in the company, valued at $8,045,325.76. The disclosure for this sale can be found here. Insiders sold 1,020,696 shares of company stock worth $186,794,151 over the last ninety days. Corporate insiders own 0.79% of the company’s stock.

About JPMorgan Chase & Co.

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.