Summit Wealth Group LLC Sells 120 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Summit Wealth Group LLC decreased its position in shares of JPMorgan Chase & Co. (NYSE:JPM) by 5.4% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 2,094 shares of the financial services provider’s stock after selling 120 shares during the period. Summit Wealth Group LLC’s holdings in JPMorgan Chase & Co. were worth $502,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Old North State Wealth Management LLC boosted its stake in JPMorgan Chase & Co. by 17.5% during the 3rd quarter. Old North State Wealth Management LLC now owns 2,680 shares of the financial services provider’s stock valued at $566,000 after purchasing an additional 399 shares during the last quarter. Intact Investment Management Inc. raised its holdings in JPMorgan Chase & Co. by 7.0% in the 3rd quarter. Intact Investment Management Inc. now owns 50,600 shares of the financial services provider’s stock worth $10,670,000 after purchasing an additional 3,300 shares during the period. Vestor Capital LLC raised its holdings in JPMorgan Chase & Co. by 21.9% during the third quarter. Vestor Capital LLC now owns 151,286 shares of the financial services provider’s stock valued at $31,900,000 after acquiring an additional 27,200 shares during the period. New England Capital Financial Advisors LLC raised its holdings in JPMorgan Chase & Co. by 38.5% during the third quarter. New England Capital Financial Advisors LLC now owns 180 shares of the financial services provider’s stock valued at $38,000 after acquiring an additional 50 shares during the period. Finally, Cohen Capital Management Inc. raised its holdings in JPMorgan Chase & Co. by 0.8% during the third quarter. Cohen Capital Management Inc. now owns 101,861 shares of the financial services provider’s stock valued at $21,478,000 after acquiring an additional 760 shares during the period. Hedge funds and other institutional investors own 71.55% of the company’s stock.

JPMorgan Chase & Co. Trading Down 1.7 %

NYSE JPM opened at $242.41 on Friday. The company has a market capitalization of $677.81 billion, a PE ratio of 12.28, a P/E/G ratio of 2.83 and a beta of 1.10. The company has a fifty day moving average of $259.41 and a 200 day moving average of $238.26. JPMorgan Chase & Co. has a 1 year low of $179.20 and a 1 year high of $280.25. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.88 and a quick ratio of 0.89.

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

JPMorgan Chase & Co. Announces Dividend

The business 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 of this dividend was Monday, January 6th. This represents a $5.00 annualized dividend and a dividend yield of 2.06%. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is presently 25.33%.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on JPM. 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. UBS Group raised their price objective on shares of JPMorgan Chase & Co. from $276.00 to $287.00 and gave the stock a “buy” rating in a research note on Thursday, January 16th. Barclays lifted their price target on shares of JPMorgan Chase & Co. from $304.00 to $330.00 and gave the company an “overweight” rating in a research note on Thursday, January 16th. Truist Financial boosted their price objective on shares of JPMorgan Chase & Co. from $260.00 to $268.00 and gave the stock a “hold” rating in a research note on Thursday, January 16th. Finally, Citigroup lifted their price target on shares of JPMorgan Chase & Co. from $215.00 to $250.00 and gave the stock a “neutral” rating in a report on Tuesday, November 19th. One analyst has rated the stock with a sell rating, nine have given a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $252.89.

Insider Buying and Selling

In related news, CEO Troy L. Rohrbaugh sold 37,500 shares of the company’s stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $269.84, for a total transaction of $10,119,000.00. Following the completion of the sale, the chief executive officer now owns 158,381 shares of the company’s stock, valued at approximately $42,737,529.04. This represents a 19.14 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Robin Leopold sold 1,250 shares of the stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $270.09, for a total transaction of $337,612.50. Following the completion of the sale, the insider now directly owns 50,377 shares of the company’s stock, valued at approximately $13,606,323.93. This trade represents a 2.42 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 46,326 shares of company stock worth $12,448,445 in the last 90 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.