Washington Trust Bank lessened its holdings in JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 6.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 98,214 shares of the financial services provider's stock after selling 6,645 shares during the period. JPMorgan Chase & Co. comprises about 2.3% of Washington Trust Bank's portfolio, making the stock its 11th largest holding. Washington Trust Bank's holdings in JPMorgan Chase & Co. were worth $23,543,000 at the end of the most recent quarter.
A number of other large investors also recently bought and sold shares of JPM. Midwest Capital Advisors LLC acquired a new stake in shares of JPMorgan Chase & Co. in the fourth quarter valued at about $43,000. Legacy Investment Solutions LLC purchased a new position in JPMorgan Chase & Co. in the 3rd quarter valued at about $45,000. Collier Financial purchased a new position in JPMorgan Chase & Co. in the 4th quarter valued at about $45,000. Lowe Wealth Advisors LLC boosted its holdings in JPMorgan Chase & Co. by 34.0% in the 4th quarter. Lowe Wealth Advisors LLC now owns 201 shares of the financial services provider's stock worth $48,000 after buying an additional 51 shares during the last quarter. Finally, Kieckhefer Group LLC purchased a new stake in JPMorgan Chase & Co. during the 4th quarter worth approximately $50,000. Institutional investors and hedge funds own 71.55% of the company's stock.
Insider Transactions at JPMorgan Chase & Co.
In related news, COO Jennifer Piepszak sold 4,273 shares of the company's stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $269.85, for a total value of $1,153,069.05. Following the sale, the chief operating officer now owns 54,469 shares in the company, valued at $14,698,459.65. This represents a 7.27 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Troy L. Rohrbaugh sold 25,000 shares of JPMorgan Chase & Co. stock in a transaction on Monday, March 24th. The stock was sold at an average price of $247.02, for a total value of $6,175,500.00. Following the transaction, the chief executive officer now directly owns 133,381 shares of the company's stock, valued at approximately $32,947,774.62. This represents a 15.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 76,848 shares of company stock valued at $19,987,908 in the last ninety days. 0.79% of the stock is currently owned by company insiders.
Analysts Set New Price Targets
JPM has been the topic of a number of research reports. Barclays raised their price objective on JPMorgan Chase & Co. from $304.00 to $330.00 and gave the company an "overweight" rating in a report on Thursday, January 16th. UBS Group raised their price target on shares of JPMorgan Chase & Co. from $276.00 to $287.00 and gave the stock a "buy" rating in a research note on Thursday, January 16th. Piper Sandler boosted their target price on JPMorgan Chase & Co. from $240.00 to $275.00 and gave the stock an "overweight" rating in a report on Tuesday, December 3rd. Bank of America boosted their price target on shares of JPMorgan Chase & Co. from $260.00 to $280.00 and gave the company a "buy" rating in a research report on Tuesday, January 7th. Finally, Wolfe Research upgraded JPMorgan Chase & Co. from a "peer perform" rating to an "outperform" rating and set a $269.00 target price on the stock in a research report on Friday, January 3rd. Ten equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company's stock. According to data from MarketBeat.com, JPMorgan Chase & Co. currently has an average rating of "Moderate Buy" and an average price target of $252.89.
View Our Latest Report on JPM
JPMorgan Chase & Co. Stock Performance
Shares of NYSE:JPM traded up $2.81 on Monday, reaching $245.66. The company's stock had a trading volume of 13,598,748 shares, compared to its average volume of 9,360,583. JPMorgan Chase & Co. has a 52-week low of $179.20 and a 52-week high of $280.25. The stock has a market capitalization of $686.89 billion, a P/E ratio of 12.44, a PEG ratio of 2.83 and a beta of 1.10. The stock's 50-day moving average is $257.27 and its two-hundred day moving average is $241.05. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.88 and a quick ratio of 0.89.
JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last posted its quarterly earnings data on Wednesday, January 15th. The financial services provider reported $4.81 earnings per share for the quarter, beating analysts' consensus estimates of $4.03 by $0.78. JPMorgan Chase & Co. had a net margin of 20.96% and a return on equity of 16.99%. The firm had revenue of $42.77 billion for the quarter, compared to analyst estimates of $41.90 billion. During the same period last year, the firm posted $3.04 EPS. JPMorgan Chase & Co.'s quarterly revenue was up 10.9% on a year-over-year basis. As a group, sell-side analysts forecast that JPMorgan Chase & Co. will post 18.1 EPS for the current year.
JPMorgan Chase & Co. Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Friday, April 4th will be given a dividend of $1.40 per share. This is a positive change from JPMorgan Chase & Co.'s previous quarterly dividend of $1.25. This represents a $5.60 annualized dividend and a dividend yield of 2.28%. The ex-dividend date is Friday, April 4th. JPMorgan Chase & Co.'s payout ratio is presently 28.37%.
About JPMorgan Chase & Co.
(
Free Report)
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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