JPMorgan Chase & Co. (NYSE:JPM) is Sitrin Capital Management LLC’s 4th Largest Position

Sitrin Capital Management LLC grew its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 1.0% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 36,967 shares of the financial services provider’s stock after buying an additional 355 shares during the quarter. JPMorgan Chase & Co. makes up about 4.5% of Sitrin Capital Management LLC’s investment portfolio, making the stock its 4th largest holding. Sitrin Capital Management LLC’s holdings in JPMorgan Chase & Co. were worth $8,861,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of JPM. Mizuho Securities Co. Ltd. purchased a new position in shares of JPMorgan Chase & Co. in the 3rd quarter valued at approximately $25,000. Catalyst Capital Advisors LLC purchased a new position in shares of JPMorgan Chase & Co. in the 3rd quarter valued at approximately $27,000. New England Capital Financial Advisors LLC lifted its stake in shares of JPMorgan Chase & Co. by 38.5% in the 3rd quarter. New England Capital Financial Advisors LLC now owns 180 shares of the financial services provider’s stock valued at $38,000 after purchasing an additional 50 shares during the period. Midwest Capital Advisors LLC purchased a new position in shares of JPMorgan Chase & Co. in the 4th quarter valued at approximately $43,000. Finally, Peterson Financial Group Inc. purchased a new position in shares of JPMorgan Chase & Co. in the 3rd quarter valued at approximately $45,000. Hedge funds and other institutional investors own 71.55% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on JPM. Bank of America raised their price objective 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. Piper Sandler raised their price objective 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. Wells Fargo & Company raised their price objective on JPMorgan Chase & Co. from $240.00 to $270.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. Keefe, Bruyette & Woods raised their price objective 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, Oppenheimer lowered JPMorgan Chase & Co. from an “outperform” rating to a “market perform” rating in a research report on Wednesday, November 20th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $252.89.

JPMorgan Chase & Co. Stock Down 1.7 %

JPMorgan Chase & Co. stock opened at $242.41 on Friday. The firm has a market cap of $677.81 billion, a price-to-earnings ratio of 12.28, a PEG ratio of 2.83 and a beta of 1.10. JPMorgan Chase & Co. has a 12 month low of $179.20 and a 12 month high of $280.25. 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 stock has a fifty day simple moving average of $259.41 and a two-hundred day simple moving average of $238.26.

JPMorgan Chase & Co. (NYSE:JPM) last released its quarterly earnings results on Wednesday, January 15th. The financial services provider reported $4.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.03 by $0.78. The firm had revenue of $42.77 billion for the quarter, compared to the consensus estimate of $41.90 billion. JPMorgan Chase & Co. had a return on equity of 16.99% and a net margin of 20.96%. The company’s revenue for the quarter was up 10.9% on a year-over-year basis. During the same period last year, the business posted $3.04 EPS. Equities analysts predict that JPMorgan Chase & Co. will post 18.1 EPS for the current fiscal year.

JPMorgan Chase & Co. Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Monday, January 6th were paid a $1.25 dividend. The ex-dividend date was Monday, January 6th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.06%. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is currently 25.33%.

Insider Transactions at JPMorgan Chase & Co.

In other news, General Counsel Stacey Friedman sold 3,303 shares of the firm’s stock in a transaction on Thursday, January 16th. The stock was sold at an average price of $253.94, for a total value of $838,763.82. Following the transaction, the general counsel now directly owns 47,620 shares in the company, valued at $12,092,622.80. This trade represents a 6.49 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Troy L. Rohrbaugh sold 37,500 shares of the firm’s stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $269.84, for a total value of $10,119,000.00. Following the completion of the transaction, the chief executive officer now owns 158,381 shares in the company, valued at approximately $42,737,529.04. This trade represents a 19.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 46,326 shares of company stock worth $12,448,445 in the last ninety days. Insiders own 0.79% of the company’s stock.

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.