Adage Capital Partners GP L.L.C. Sells 117,600 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Adage Capital Partners GP L.L.C. lowered its holdings in JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 4.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,613,266 shares of the financial services provider's stock after selling 117,600 shares during the quarter. JPMorgan Chase & Co. accounts for about 1.1% of Adage Capital Partners GP L.L.C.'s investment portfolio, making the stock its 12th biggest position. Adage Capital Partners GP L.L.C. owned about 0.09% of JPMorgan Chase & Co. worth $626,426,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the business. Redwood Park Advisors LLC acquired a new position in shares of JPMorgan Chase & Co. in the 4th quarter worth approximately $29,000. Sellwood Investment Partners LLC acquired a new position in JPMorgan Chase & Co. during the fourth quarter worth $34,000. Investment Counsel Co. of Nevada bought a new position in shares of JPMorgan Chase & Co. during the fourth quarter valued at $37,000. Prudent Man Investment Management Inc. acquired a new stake in shares of JPMorgan Chase & Co. in the 4th quarter valued at $43,000. Finally, Midwest Capital Advisors LLC bought a new stake in shares of JPMorgan Chase & Co. in the 4th quarter worth about $43,000. Institutional investors and hedge funds own 71.55% of the company's stock.

Insider Activity at JPMorgan Chase & Co.

In other JPMorgan Chase & Co. news, COO Jennifer Piepszak sold 4,273 shares of the company's stock in a transaction that occurred on 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 sale, the chief operating officer now owns 54,469 shares of the company's stock, valued at approximately $14,698,459.65. This represents a 7.27 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Troy L. Rohrbaugh sold 37,500 shares of JPMorgan Chase & Co. stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $269.84, for a total transaction of $10,119,000.00. Following the transaction, the chief executive officer now directly owns 158,381 shares in the company, valued at approximately $42,737,529.04. This represents a 19.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 73,545 shares of company stock worth $19,149,144 in the last ninety days. Company insiders own 0.79% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. Barclays lifted their price target on shares of JPMorgan Chase & Co. from $304.00 to $330.00 and gave the company an "overweight" rating in a report on Thursday, January 16th. KGI Securities began coverage on JPMorgan Chase & Co. in a report on Sunday, April 13th. They issued a "hold" rating on the stock. Truist Financial set a $261.00 price target on JPMorgan Chase & Co. in a report on Monday, April 14th. Evercore ISI cut their price objective on JPMorgan Chase & Co. from $273.00 to $265.00 and set an "outperform" rating for the company in a research report on Tuesday, April 1st. Finally, Bank of America decreased their target price on JPMorgan Chase & Co. from $285.00 to $284.00 and set a "buy" rating on the stock in a report on Wednesday, April 2nd. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and ten have given a buy rating to the company's stock. Based on data from MarketBeat.com, JPMorgan Chase & Co. has an average rating of "Hold" and a consensus price target of $255.67.

JPMorgan Chase & Co. Price Performance

JPM opened at $235.51 on Wednesday. The company has a fifty day moving average price of $242.98 and a two-hundred day moving average price of $243.17. The firm has a market capitalization of $655.42 billion, a PE ratio of 11.93, a P/E/G ratio of 2.83 and a beta of 1.01. JPMorgan Chase & Co. has a 52 week low of $188.46 and a 52 week high of $280.25. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.89 and a current ratio of 0.88.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last posted its quarterly earnings results on Friday, April 11th. The financial services provider reported $5.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.63 by $0.44. JPMorgan Chase & Co. had a return on equity of 16.99% and a net margin of 20.96%. The business had revenue of $45.30 billion for the quarter, compared to analyst estimates of $43.62 billion. During the same period last year, the company earned $4.44 EPS. The firm's revenue was up 8.0% on a year-over-year basis. As a group, analysts anticipate that JPMorgan Chase & Co. will post 18.1 earnings per share for the current year.

JPMorgan Chase & Co. Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Friday, April 4th will be paid a $1.40 dividend. The ex-dividend date of this dividend is Friday, April 4th. This is a boost from JPMorgan Chase & Co.'s previous quarterly dividend of $1.25. This represents a $5.60 dividend on an annualized basis and a dividend yield of 2.38%. JPMorgan Chase & Co.'s dividend payout ratio is 27.49%.

JPMorgan Chase & Co. Profile

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.

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