State of Alaska Department of Revenue Lowers Holdings in JPMorgan Chase & Co. (NYSE:JPM)

State of Alaska Department of Revenue trimmed its position in JPMorgan Chase & Co. (NYSE:JPM) by 4.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 321,022 shares of the financial services provider’s stock after selling 13,655 shares during the quarter. JPMorgan Chase & Co. accounts for 0.9% of State of Alaska Department of Revenue’s holdings, making the stock its 11th largest holding. State of Alaska Department of Revenue’s holdings in JPMorgan Chase & Co. were worth $76,952,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the company. Mizuho Securities Co. Ltd. purchased a new stake in shares of JPMorgan Chase & Co. during the 3rd quarter worth $25,000. Catalyst Capital Advisors LLC purchased a new stake in shares of JPMorgan Chase & Co. during the 3rd quarter worth $27,000. New England Capital Financial Advisors LLC lifted its stake in shares of JPMorgan Chase & Co. by 38.5% during the 3rd quarter. New England Capital Financial Advisors LLC now owns 180 shares of the financial services provider’s stock worth $38,000 after purchasing an additional 50 shares during the last quarter. Carolina Wealth Advisors LLC lifted its stake in shares of JPMorgan Chase & Co. by 36.0% during the 3rd quarter. Carolina Wealth Advisors LLC now owns 189 shares of the financial services provider’s stock worth $40,000 after purchasing an additional 50 shares during the last quarter. Finally, Peterson Financial Group Inc. purchased a new stake in shares of JPMorgan Chase & Co. during the 3rd quarter worth $45,000. 71.55% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. Wolfe Research upgraded JPMorgan Chase & Co. from a “peer perform” rating to an “outperform” rating and set a $269.00 price objective for the company in a research note on Friday, January 3rd. UBS Group upped their target price on JPMorgan Chase & Co. from $276.00 to $287.00 and gave the company a “buy” rating in a research report on Thursday, January 16th. Piper Sandler upped their target price on JPMorgan Chase & Co. from $240.00 to $275.00 and gave the company an “overweight” rating in a research report on Tuesday, December 3rd. Keefe, Bruyette & Woods upped their target price on JPMorgan Chase & Co. from $257.00 to $264.00 and gave the company a “market perform” rating in a research report on Thursday, January 16th. Finally, Bank of America upped their target price on JPMorgan Chase & Co. from $260.00 to $280.00 and gave the company a “buy” rating in a research report on Tuesday, January 7th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $251.78.

JPMorgan Chase & Co. Stock Up 0.1 %

JPMorgan Chase & Co. stock opened at $276.61 on Friday. The firm has a market cap of $778.74 billion, a price-to-earnings ratio of 14.01, a price-to-earnings-growth ratio of 2.94 and a beta of 1.12. JPMorgan Chase & Co. has a 52 week low of $176.15 and a 52 week high of $279.23. The business’s 50-day moving average price is $252.44 and its 200 day moving average price is $232.17. The company has a quick ratio of 0.89, a current ratio of 0.88 and a debt-to-equity ratio of 1.24.

JPMorgan Chase & Co. (NYSE:JPM) last posted its earnings results on Wednesday, January 15th. The financial services provider reported $4.81 EPS for the quarter, topping the consensus estimate of $4.03 by $0.78. The firm 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%. JPMorgan Chase & Co.’s revenue for the quarter was up 10.9% compared to the same quarter last year. During the same period last year, the company earned $3.04 earnings per share. As a group, sell-side analysts anticipate that JPMorgan Chase & Co. will post 18.05 earnings per share for the current year.

JPMorgan Chase & Co. Dividend Announcement

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

Insider Buying and Selling

In other JPMorgan Chase & Co. news, General Counsel Stacey Friedman sold 3,303 shares of the stock in a transaction that occurred on Thursday, January 16th. The stock was sold at an average price of $253.94, for a total transaction of $838,763.82. Following the transaction, the general counsel now owns 47,620 shares in the company, valued at approximately $12,092,622.80. This represents a 6.49 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.79% of the stock is owned by corporate insiders.

JPMorgan Chase & Co. Company Profile

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.