Latitude Advisors LLC Cuts Position in JPMorgan Chase & Co. (NYSE:JPM)

Latitude Advisors LLC cut its stake in JPMorgan Chase & Co. (NYSE:JPM) by 2.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,644 shares of the financial services provider’s stock after selling 102 shares during the quarter. Latitude Advisors LLC’s holdings in JPMorgan Chase & Co. were worth $790,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in JPM. Morgan Stanley grew its stake in JPMorgan Chase & Co. by 0.3% during the 3rd quarter. Morgan Stanley now owns 62,941,343 shares of the financial services provider’s stock worth $9,127,754,000 after buying an additional 201,441 shares during the last quarter. FMR LLC grew its stake in JPMorgan Chase & Co. by 1.2% during the 3rd quarter. FMR LLC now owns 49,417,639 shares of the financial services provider’s stock worth $7,166,546,000 after buying an additional 606,382 shares during the last quarter. Wellington Management Group LLP grew its stake in JPMorgan Chase & Co. by 12.2% during the 3rd quarter. Wellington Management Group LLP now owns 42,421,711 shares of the financial services provider’s stock worth $6,151,997,000 after buying an additional 4,603,090 shares during the last quarter. Northern Trust Corp grew its stake in JPMorgan Chase & Co. by 2.7% during the 3rd quarter. Northern Trust Corp now owns 33,089,310 shares of the financial services provider’s stock worth $4,798,612,000 after buying an additional 871,091 shares during the last quarter. Finally, Ameriprise Financial Inc. grew its stake in JPMorgan Chase & Co. by 2.0% during the 3rd quarter. Ameriprise Financial Inc. now owns 23,724,676 shares of the financial services provider’s stock worth $3,442,313,000 after buying an additional 457,184 shares during the last quarter. 71.55% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. Piper Sandler dropped their target price on JPMorgan Chase & Co. from $220.00 to $215.00 and set an “overweight” rating on the stock in a research note on Monday, April 15th. The Goldman Sachs Group reaffirmed a “buy” rating on shares of JPMorgan Chase & Co. in a research report on Thursday, February 1st. Royal Bank of Canada reaffirmed an “outperform” rating and set a $185.00 price target on shares of JPMorgan Chase & Co. in a research report on Wednesday, March 20th. UBS Group lowered their price target on 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. Finally, BMO Capital Markets lowered their price target on JPMorgan Chase & Co. from $196.00 to $195.00 and set a “market perform” rating for the company in a research report on Monday, April 15th. Eight investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $192.05.

Insider Activity

In other news, General Counsel Stacey Friedman sold 6,030 shares of the company’s stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $182.73, for a total value 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 Securities & Exchange Commission, which is available through the SEC website. In related news, General Counsel Stacey Friedman sold 6,030 shares of the stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $182.73, for a total value of $1,101,861.90. Following the completion of the transaction, the general counsel now directly owns 59,456 shares in the company, valued at $10,864,394.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Vice Chairman Peter Scher sold 1,810 shares of the stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $178.96, for a total value of $323,917.60. Following the completion of the transaction, the insider now owns 44,956 shares of the company’s stock, 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.

JPMorgan Chase & Co. Price Performance

JPM stock opened at $192.11 on Wednesday. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.92 and a quick ratio of 0.91. The business has a 50 day simple moving average of $189.46 and a 200-day simple moving average of $169.90. The firm has a market capitalization of $551.76 billion, a PE ratio of 11.60, a price-to-earnings-growth ratio of 2.34 and a beta of 1.15. JPMorgan Chase & Co. has a 1 year low of $131.81 and a 1 year high of $200.94.

JPMorgan Chase & Co. Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Friday, April 5th will be given a $1.15 dividend. The ex-dividend date of this dividend is Thursday, April 4th. This is a positive change from JPMorgan Chase & Co.’s previous quarterly dividend of $1.05. This represents a $4.60 dividend on an annualized basis and a dividend yield of 2.39%. JPMorgan Chase & Co.’s dividend payout ratio is 27.78%.

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.