Concord Asset Management LLC VA Sells 1,271 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Concord Asset Management LLC VA cut its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 4.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 25,808 shares of the financial services provider’s stock after selling 1,271 shares during the period. JPMorgan Chase & Co. comprises approximately 1.4% of Concord Asset Management LLC VA’s investment portfolio, making the stock its 18th biggest position. Concord Asset Management LLC VA’s holdings in JPMorgan Chase & Co. were worth $6,187,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the business. International Assets Investment Management LLC acquired a new position in JPMorgan Chase & Co. during the 3rd quarter worth approximately $1,888,088,000. Fisher Asset Management LLC boosted its position in JPMorgan Chase & Co. by 31.7% in the third quarter. Fisher Asset Management LLC now owns 16,784,272 shares of the financial services provider’s stock valued at $3,539,132,000 after buying an additional 4,043,841 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund grew its stake in shares of JPMorgan Chase & Co. by 137.8% during the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 4,376,176 shares of the financial services provider’s stock worth $922,760,000 after buying an additional 2,535,590 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec increased its holdings in shares of JPMorgan Chase & Co. by 93.6% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 2,692,159 shares of the financial services provider’s stock worth $567,669,000 after buying an additional 1,301,764 shares in the last quarter. Finally, Franklin Resources Inc. lifted its stake in shares of JPMorgan Chase & Co. by 7.2% in the 3rd quarter. Franklin Resources Inc. now owns 15,073,193 shares of the financial services provider’s stock valued at $3,338,955,000 after acquiring an additional 1,016,289 shares during the last quarter. Institutional investors and hedge funds own 71.55% of the company’s stock.

Insider Activity

In related news, General Counsel Stacey Friedman sold 3,303 shares of the stock in a transaction on Thursday, January 16th. The shares were sold at an average price of $253.94, for a total transaction of $838,763.82. Following the transaction, the general counsel now directly owns 47,620 shares of the company’s stock, valued at $12,092,622.80. This represents a 6.49 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.79% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on JPM. Oppenheimer lowered JPMorgan Chase & Co. from an “outperform” rating to a “market perform” rating in a research report on Wednesday, November 20th. Robert W. Baird cut JPMorgan Chase & Co. from a “neutral” rating to an “underperform” rating and set a $200.00 price target on the stock. in a report on Thursday, November 7th. Baird R W lowered shares of JPMorgan Chase & Co. from a “hold” rating to a “strong sell” rating in a report on Thursday, November 7th. Evercore ISI boosted their target price on shares of JPMorgan Chase & Co. from $217.00 to $230.00 and gave the stock an “outperform” rating in a report on Monday, October 14th. Finally, Truist Financial upped their price target on shares of JPMorgan Chase & Co. from $260.00 to $268.00 and gave the company a “hold” rating in a research report on Thursday, January 16th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $251.78.

JPMorgan Chase & Co. Stock Performance

Shares of JPM opened at $275.84 on Friday. The company has a current ratio of 0.88, a quick ratio of 0.89 and a debt-to-equity ratio of 1.24. The firm’s fifty day simple moving average is $249.57 and its two-hundred day simple moving average is $229.92. JPMorgan Chase & Co. has a 12 month low of $172.62 and a 12 month high of $278.55. The stock has a market capitalization of $776.57 billion, a P/E ratio of 13.97, a price-to-earnings-growth ratio of 2.87 and a beta of 1.12.

JPMorgan Chase & Co. (NYSE:JPM) last announced its earnings results on Wednesday, January 15th. The financial services provider reported $4.81 EPS for the quarter, beating the consensus estimate of $4.03 by $0.78. The company had revenue of $42.77 billion for the quarter, compared to analyst estimates of $41.90 billion. JPMorgan Chase & Co. had a return on equity of 16.99% and a net margin of 20.96%. The firm’s revenue for the quarter was up 10.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $3.04 EPS. As a group, analysts predict that JPMorgan Chase & Co. will post 17.82 EPS for the current year.

JPMorgan Chase & Co. Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Monday, January 6th were given a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a dividend yield of 1.81%. The ex-dividend date of this dividend was Monday, January 6th. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is 25.33%.

About JPMorgan Chase & Co.

JPMorgan Chase & Co is a financial holding company, which engages in the provision of financial and investment banking services. The firm offers a range of investment banking products and services in all capital markets, including advising on corporate strategy and structure, capital raising in equity and debt markets, risk management, market making in cash securities and derivative instruments, and brokerage and research.