JPMorgan Chase & Co. (NYSE:JPM) Position Lessened by Klingenstein Fields & Co. LP

Klingenstein Fields & Co. LP trimmed its position in shares of JPMorgan Chase & Co. (NYSE:JPM) by 1.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 207,251 shares of the financial services provider’s stock after selling 3,401 shares during the period. JPMorgan Chase & Co. comprises approximately 2.0% of Klingenstein Fields & Co. LP’s portfolio, making the stock its 14th biggest holding. Klingenstein Fields & Co. LP’s holdings in JPMorgan Chase & Co. were worth $49,680,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Geode Capital Management LLC raised its holdings in JPMorgan Chase & Co. by 0.9% during the third quarter. Geode Capital Management LLC now owns 58,344,186 shares of the financial services provider’s stock valued at $12,258,346,000 after buying an additional 505,830 shares in the last quarter. Fisher Asset Management LLC raised its holdings in JPMorgan Chase & Co. by 31.7% during 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. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in JPMorgan Chase & Co. by 2.0% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 15,084,919 shares of the financial services provider’s stock valued at $3,180,806,000 after buying an additional 302,592 shares in the last quarter. Franklin Resources Inc. raised its holdings in JPMorgan Chase & Co. by 7.2% during the third quarter. Franklin Resources Inc. now owns 15,073,193 shares of the financial services provider’s stock valued at $3,338,955,000 after buying an additional 1,016,289 shares in the last quarter. Finally, International Assets Investment Management LLC bought a new position in JPMorgan Chase & Co. during the third quarter valued at about $1,888,088,000. 71.55% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other JPMorgan Chase & Co. news, CEO Troy L. Rohrbaugh sold 37,500 shares of the firm’s stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $269.84, for a total value of $10,119,000.00. Following the sale, the chief executive officer now owns 158,381 shares in the company, valued at $42,737,529.04. This trade represents a 19.14 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, COO Jennifer Piepszak sold 4,273 shares of the firm’s stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $269.85, for a total transaction of $1,153,069.05. Following the completion of the sale, the chief operating officer now owns 54,469 shares in the company, valued at $14,698,459.65. This represents a 7.27 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 46,326 shares of company stock worth $12,448,445. Corporate insiders own 0.79% of the company’s stock.

JPMorgan Chase & Co. Stock Down 1.0 %

JPMorgan Chase & Co. stock opened at $264.14 on Monday. The stock has a market cap of $738.56 billion, a P/E ratio of 13.38, a P/E/G ratio of 2.83 and a beta of 1.12. 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. has a twelve month low of $179.20 and a twelve month high of $280.25. The company’s 50-day moving average price is $256.12 and its two-hundred day moving average price is $235.45.

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, topping the consensus estimate of $4.03 by $0.78. JPMorgan Chase & Co. had a net margin of 20.96% and a return on equity of 16.99%. The company had revenue of $42.77 billion for the quarter, compared to analysts’ expectations of $41.90 billion. During the same period last year, the firm earned $3.04 earnings per share. The business’s revenue for the quarter was up 10.9% on a year-over-year basis. As a group, analysts expect that JPMorgan Chase & Co. will post 18.1 EPS for the current year.

JPMorgan Chase & Co. Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Monday, January 6th were given a dividend of $1.25 per share. The ex-dividend date was Monday, January 6th. This represents a $5.00 annualized dividend and a dividend yield of 1.89%. JPMorgan Chase & Co.’s dividend payout ratio is 25.33%.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on JPM shares. Citigroup raised their target price on JPMorgan Chase & Co. from $215.00 to $250.00 and gave the company a “neutral” rating in a report on Tuesday, November 19th. UBS Group lifted their price objective on JPMorgan Chase & Co. from $276.00 to $287.00 and gave the stock a “buy” rating in a research note on Thursday, January 16th. Piper Sandler lifted their price objective on JPMorgan Chase & Co. from $240.00 to $275.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 3rd. Baird R W lowered JPMorgan Chase & Co. from a “hold” rating to a “strong sell” rating in a research note on Thursday, November 7th. Finally, Keefe, Bruyette & Woods lifted their price objective on JPMorgan Chase & Co. from $257.00 to $264.00 and gave the stock a “market perform” rating in a research note on Thursday, January 16th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $251.78.

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.