Gabelli Funds LLC Decreases Stake in JPMorgan Chase & Co. (NYSE:JPM)

Gabelli Funds LLC cut its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 5.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 380,785 shares of the financial services provider’s stock after selling 19,865 shares during the quarter. JPMorgan Chase & Co. makes up approximately 0.7% of Gabelli Funds LLC’s portfolio, making the stock its 28th largest holding. Gabelli Funds LLC’s holdings in JPMorgan Chase & Co. were worth $91,278,000 at the end of the most recent quarter.

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

Analysts Set New Price Targets

JPM has been the topic of a number of analyst reports. Truist Financial decreased their target price on shares of JPMorgan Chase & Co. from $264.00 to $251.00 and set a “hold” rating on the stock in a report on Monday. Bank of America lowered their price objective on JPMorgan Chase & Co. from $285.00 to $284.00 and set a “buy” rating on the stock in a research report on Wednesday, April 2nd. Barclays boosted their target price on JPMorgan Chase & Co. from $304.00 to $330.00 and gave the stock an “overweight” rating in a research report on Thursday, January 16th. Keefe, Bruyette & Woods raised their price target on JPMorgan Chase & Co. from $257.00 to $264.00 and gave the company a “market perform” rating in a report on Thursday, January 16th. Finally, StockNews.com cut shares of JPMorgan Chase & Co. from a “hold” rating to a “sell” rating in a research report on Monday. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $254.11.

JPMorgan Chase & Co. Stock Down 0.8 %

JPMorgan Chase & Co. stock opened at $234.23 on Tuesday. The stock has a market cap of $651.86 billion, a PE ratio of 11.87, a price-to-earnings-growth ratio of 2.83 and a beta of 1.01. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.89 and a current ratio of 0.88. The stock has a fifty day moving average of $248.17 and a 200 day moving average of $242.43. JPMorgan Chase & Co. has a one year low of $179.20 and a one year high of $280.25.

JPMorgan Chase & Co. (NYSE:JPM) last issued its quarterly earnings data on Friday, April 11th. The financial services provider reported $5.07 earnings per share for the quarter, topping 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 net margin of 20.96% and a return on equity of 16.99%. The business’s quarterly revenue was up 8.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $4.44 EPS. As a group, sell-side analysts predict that JPMorgan Chase & Co. will post 18.1 EPS for the current year.

JPMorgan Chase & Co. Increases Dividend

The firm 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 dividend of $1.40 per share. This represents a $5.60 annualized dividend and a dividend yield of 2.39%. 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. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is currently 27.49%.

Insider Activity

In other news, CEO Troy L. Rohrbaugh sold 37,500 shares of the stock in a transaction that occurred 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 completion of 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Robin Leopold sold 1,250 shares of the company’s stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $270.09, for a total transaction of $337,612.50. Following the sale, the insider now owns 50,377 shares in the company, valued at $13,606,323.93. This represents a 2.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 76,848 shares of company stock valued at $19,987,908 in the last 90 days. Company insiders own 0.79% of the company’s stock.

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.