Zacks Investment Management Reduces Position in JPMorgan Chase & Co. (NYSE:JPM)

Zacks Investment Management cut its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 10.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,191,720 shares of the financial services provider's stock after selling 134,452 shares during the quarter. JPMorgan Chase & Co. makes up approximately 2.6% of Zacks Investment Management's portfolio, making the stock its 4th largest holding. Zacks Investment Management's holdings in JPMorgan Chase & Co. were worth $285,667,000 at the end of the most recent quarter.

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

Insiders Place Their Bets

In related news, insider Robin Leopold sold 1,250 shares of JPMorgan Chase & Co. stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $246.92, for a total transaction of $308,650.00. Following the sale, the insider now directly owns 49,127 shares in the company, valued at $12,130,438.84. The trade was a 2.48 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Troy L. Rohrbaugh sold 37,500 shares of the stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $269.84, for a total value of $10,119,000.00. Following the completion of the transaction, the chief executive officer now owns 158,381 shares of the company's stock, valued at approximately $42,737,529.04. This trade represents a 19.14 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 73,545 shares of company stock worth $19,149,144. 0.79% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on JPM shares. Wolfe Research raised shares of JPMorgan Chase & Co. from a "peer perform" rating to an "outperform" rating and set a $269.00 price target on the stock in a report on Friday, January 3rd. Baird R W raised JPMorgan Chase & Co. from a "strong sell" rating to a "hold" rating in a report on Friday, March 7th. Truist Financial set a $261.00 price objective on JPMorgan Chase & Co. in a report on Monday, April 14th. Evercore ISI cut their price target on shares of JPMorgan Chase & Co. from $273.00 to $265.00 and set an "outperform" rating for the company in a research note on Tuesday, April 1st. Finally, StockNews.com downgraded shares of JPMorgan Chase & Co. from a "hold" rating to a "sell" rating in a report on Monday, April 14th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, JPMorgan Chase & Co. has an average rating of "Hold" and an average price target of $255.67.

JPMorgan Chase & Co. Trading Up 0.9 %

NYSE:JPM traded up $2.18 during mid-day trading on Friday, reaching $231.79. 9,553,647 shares of the company's stock traded hands, compared to its average volume of 9,601,563. The company has a 50 day moving average price of $244.72 and a 200-day moving average price of $242.83. The firm has a market capitalization of $645.07 billion, a price-to-earnings ratio of 11.74, a PEG ratio of 2.83 and a beta of 1.01. 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. has a 12-month low of $185.98 and a 12-month high of $280.25.

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

JPMorgan Chase & Co. Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Friday, April 4th will be issued a $1.40 dividend. The ex-dividend date of this dividend is Friday, April 4th. 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 yield of 2.42%. JPMorgan Chase & Co.'s dividend payout ratio is 27.49%.

About JPMorgan Chase & Co.

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.