Beach Investment Counsel Inc. PA Has $19.75 Million Position in JPMorgan Chase & Co. (NYSE:JPM)

Beach Investment Counsel Inc. PA cut its stake in JPMorgan Chase & Co. (NYSE:JPM) by 11.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 82,391 shares of the financial services provider’s stock after selling 10,158 shares during the period. JPMorgan Chase & Co. makes up about 2.7% of Beach Investment Counsel Inc. PA’s portfolio, making the stock its 11th biggest holding. Beach Investment Counsel Inc. PA’s holdings in JPMorgan Chase & Co. were worth $19,750,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently modified their holdings of the company. Rappaport Reiches Capital Management LLC raised its holdings in JPMorgan Chase & Co. by 3.8% during the 4th quarter. Rappaport Reiches Capital Management LLC now owns 1,068 shares of the financial services provider’s stock worth $256,000 after purchasing an additional 39 shares during the last quarter. Yoder Wealth Management Inc. increased its position in shares of JPMorgan Chase & Co. by 2.8% during the fourth quarter. Yoder Wealth Management Inc. now owns 1,436 shares of the financial services provider’s stock worth $344,000 after buying an additional 39 shares during the period. Powers Advisory Group LLC raised its stake in JPMorgan Chase & Co. by 0.7% during the fourth quarter. Powers Advisory Group LLC now owns 6,131 shares of the financial services provider’s stock worth $1,470,000 after buying an additional 42 shares during the last quarter. Financial Avengers Inc. lifted its holdings in JPMorgan Chase & Co. by 5.2% in the third quarter. Financial Avengers Inc. now owns 868 shares of the financial services provider’s stock valued at $183,000 after buying an additional 43 shares during the period. Finally, Matrix Trust Co boosted its position in JPMorgan Chase & Co. by 0.4% during the fourth quarter. Matrix Trust Co now owns 10,179 shares of the financial services provider’s stock valued at $2,440,000 after acquiring an additional 43 shares during the last quarter. 71.55% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

JPM has been the subject of several research analyst reports. 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 report on Tuesday, December 3rd. Keefe, Bruyette & Woods raised their target price 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. Wells Fargo & Company boosted their price target on JPMorgan Chase & Co. from $240.00 to $270.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. Bank of America raised their price objective on shares of JPMorgan Chase & Co. from $260.00 to $280.00 and gave the stock a “buy” rating in a research report on Tuesday, January 7th. Finally, Barclays boosted their target price on shares of JPMorgan Chase & Co. from $304.00 to $330.00 and gave the company an “overweight” rating in a research report on Thursday, January 16th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $251.78.

JPMorgan Chase & Co. Price Performance

Shares of NYSE JPM opened at $275.15 on Wednesday. The stock has a market cap of $774.63 billion, a price-to-earnings ratio of 13.94, a PEG ratio of 2.94 and a beta of 1.12. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.89 and a current ratio of 0.88. JPMorgan Chase & Co. has a fifty-two week low of $172.62 and a fifty-two week high of $278.55. The firm’s 50-day simple moving average is $250.58 and its 200 day simple moving average is $231.11.

JPMorgan Chase & Co. (NYSE:JPM) last posted its earnings results on Wednesday, January 15th. The financial services provider reported $4.81 earnings per share for the quarter, beating analysts’ consensus estimates of $4.03 by $0.78. JPMorgan Chase & Co. had a return on equity of 16.99% and a net margin of 20.96%. The company had revenue of $42.77 billion for the quarter, compared to analyst estimates of $41.90 billion. During the same quarter last year, the company earned $3.04 earnings per share. The company’s revenue for the quarter was up 10.9% on a year-over-year basis. As a group, research analysts anticipate that JPMorgan Chase & Co. will post 18.05 earnings per share 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. Investors of record on Monday, January 6th were given a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a dividend yield of 1.82%. The ex-dividend date of this dividend was Monday, January 6th. JPMorgan Chase & Co.’s payout ratio is currently 25.33%.

Insider Buying and Selling

In other JPMorgan Chase & Co. news, General Counsel Stacey Friedman sold 3,303 shares of JPMorgan Chase & Co. stock in a transaction that occurred 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 owns 47,620 shares of the company’s stock, 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 Securities & Exchange Commission, which is available through the SEC website. 0.79% of the stock is owned by corporate insiders.

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.