Davis R M Inc. Cuts Stock Position in JPMorgan Chase & Co. (NYSE:JPM)

Davis R M Inc. decreased its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 1.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 351,355 shares of the financial services provider’s stock after selling 4,666 shares during the quarter. JPMorgan Chase & Co. makes up 1.4% of Davis R M Inc.’s investment portfolio, making the stock its 23rd biggest holding. Davis R M Inc.’s holdings in JPMorgan Chase & Co. were worth $59,766,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also made changes to their positions in JPM. Norges Bank purchased a new stake in shares of JPMorgan Chase & Co. during the 4th quarter worth approximately $6,016,878,000. International Assets Investment Management LLC purchased a new position in shares of JPMorgan Chase & Co. during the 4th quarter worth approximately $1,017,893,000. Wellington Management Group LLP increased its holdings in shares of JPMorgan Chase & Co. by 12.2% in the 3rd quarter. Wellington Management Group LLP now owns 42,421,711 shares of the financial services provider’s stock valued at $6,151,997,000 after purchasing an additional 4,603,090 shares in the last quarter. J.P. Morgan Private Wealth Advisors LLC acquired a new stake in shares of JPMorgan Chase & Co. during the 3rd quarter valued at approximately $253,076,000. Finally, Cerity Partners LLC boosted its position in JPMorgan Chase & Co. by 155.2% during the fourth quarter. Cerity Partners LLC now owns 2,246,582 shares of the financial services provider’s stock worth $382,144,000 after purchasing an additional 1,366,360 shares in the last quarter. Hedge funds and other institutional investors own 71.55% of the company’s stock.

JPMorgan Chase & Co. Price Performance

Shares of JPM traded up $2.07 during mid-day trading on Friday, hitting $198.99. The company’s stock had a trading volume of 928,071 shares, compared to its average volume of 9,231,700. JPMorgan Chase & Co. has a fifty-two week low of $134.40 and a fifty-two week high of $205.88. The stock has a market capitalization of $571.43 billion, a price-to-earnings ratio of 11.89, a PEG ratio of 2.68 and a beta of 1.13. The firm has a 50-day moving average price of $194.50 and a 200 day moving average price of $177.66. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.92 and a quick ratio of 0.92.

JPMorgan Chase & Co. (NYSE:JPM) last posted its quarterly earnings data on Friday, April 12th. The financial services provider reported $4.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.18 by $0.45. The firm had revenue of $41.93 billion for the quarter, compared to the consensus estimate of $40.90 billion. JPMorgan Chase & Co. had a return on equity of 17.79% and a net margin of 20.05%. On average, research analysts predict that JPMorgan Chase & Co. will post 16.31 EPS for the current fiscal year.

JPMorgan Chase & Co. Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Friday, July 5th will be given a $1.15 dividend. The ex-dividend date is Friday, July 5th. This represents a $4.60 dividend on an annualized basis and a yield of 2.31%. JPMorgan Chase & Co.’s payout ratio is 27.78%.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on JPM shares. UBS Group boosted their target price on shares of JPMorgan Chase & Co. from $219.00 to $224.00 and gave the company a “buy” rating in a research note on Tuesday. Robert W. Baird boosted their price objective on shares of JPMorgan Chase & Co. from $175.00 to $185.00 and gave the company a “neutral” rating in a research note on Tuesday. Piper Sandler increased their target price on JPMorgan Chase & Co. from $215.00 to $220.00 and gave the stock an “overweight” rating in a research report on Tuesday. Evercore ISI boosted their price target on JPMorgan Chase & Co. from $188.00 to $210.00 and gave the company an “outperform” rating in a research report on Thursday, April 4th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $211.00 price objective on shares of JPMorgan Chase & Co. in a report on Tuesday. Nine equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat, JPMorgan Chase & Co. has a consensus rating of “Moderate Buy” and a consensus price target of $194.10.

Insider Buying and Selling at JPMorgan Chase & Co.

In other JPMorgan Chase & Co. news, insider Lori A. Beer sold 3,920 shares of JPMorgan Chase & Co. stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of $195.36, for a total value of $765,811.20. Following the completion of the sale, the insider now directly owns 64,783 shares in the company, valued at $12,656,006.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, General Counsel Stacey Friedman sold 4,415 shares of the company’s stock in a transaction on Monday, May 20th. The shares were sold at an average price of $200.65, for a total transaction of $885,869.75. Following the completion of the transaction, the general counsel now directly owns 42,124 shares in the company, valued at approximately $8,452,180.60. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Lori A. Beer sold 3,920 shares of the stock in a transaction dated Monday, March 25th. The shares were sold at an average price of $195.36, for a total transaction of $765,811.20. Following the completion of the sale, the insider now owns 64,783 shares of the company’s stock, valued at approximately $12,656,006.88. The disclosure for this sale can be found here. Insiders sold 249,399 shares of company stock valued at $46,713,667 in the last quarter. Company 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.