Harvey Capital Management Inc. Has $8.41 Million Holdings in JPMorgan Chase & Co. (NYSE:JPM)

Harvey Capital Management Inc. cut its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 0.6% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 35,070 shares of the financial services provider’s stock after selling 195 shares during the quarter. JPMorgan Chase & Co. makes up 2.0% of Harvey Capital Management Inc.’s holdings, making the stock its 14th biggest holding. Harvey Capital Management Inc.’s holdings in JPMorgan Chase & Co. were worth $8,407,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Mizuho Securities Co. Ltd. bought a new position in JPMorgan Chase & Co. in the third quarter valued at about $25,000. Catalyst Capital Advisors LLC bought a new position in JPMorgan Chase & Co. in the third quarter valued at about $27,000. New England Capital Financial Advisors LLC raised its position in JPMorgan Chase & Co. by 38.5% in 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 purchasing an additional 50 shares during the last quarter. Collier Financial bought a new position in JPMorgan Chase & Co. in the fourth quarter valued at about $45,000. Finally, Lowe Wealth Advisors LLC raised its position in JPMorgan Chase & Co. by 34.0% in the fourth quarter. Lowe Wealth Advisors LLC now owns 201 shares of the financial services provider’s stock valued at $48,000 after purchasing an additional 51 shares during the last quarter. 71.55% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

JPM has been the subject of several research reports. Barclays increased their target price on JPMorgan Chase & Co. from $304.00 to $330.00 and gave the company an “overweight” rating in a research report on Thursday, January 16th. Robert W. Baird downgraded JPMorgan Chase & Co. from a “neutral” rating to an “underperform” rating and set a $200.00 price objective for the company. in a research report on Thursday, November 7th. Truist Financial raised their price objective on JPMorgan Chase & Co. from $260.00 to $268.00 and gave the stock a “hold” rating in a research report on Thursday, January 16th. Piper Sandler raised 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. Finally, Keefe, Bruyette & Woods raised their price objective on JPMorgan Chase & Co. from $257.00 to $264.00 and gave the stock a “market perform” rating in a research report on Thursday, January 16th. Two 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. According to data from MarketBeat, JPMorgan Chase & Co. currently has a consensus rating of “Hold” and a consensus price target of $251.78.

JPMorgan Chase & Co. Trading Down 1.0 %

Shares of JPMorgan Chase & Co. stock opened at $264.14 on Friday. 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 52 week low of $179.20 and a 52 week high of $280.25. The stock has a 50 day moving average price of $256.12 and a two-hundred day moving average price of $234.96. The stock has a market capitalization of $738.56 billion, a PE ratio of 13.38, a price-to-earnings-growth ratio of 2.96 and a beta of 1.12.

JPMorgan Chase & Co. (NYSE:JPM) last announced its earnings results on Wednesday, January 15th. The financial services provider reported $4.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.03 by $0.78. The company had revenue of $42.77 billion for the quarter, compared to analysts’ expectations 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 quarterly revenue was up 10.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $3.04 earnings per share. As a group, equities analysts anticipate that JPMorgan Chase & Co. will post 18.1 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Announces Dividend

The business also recently announced 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 1.89%. JPMorgan Chase & Co.’s payout ratio is 25.33%.

Insider Activity at JPMorgan Chase & Co.

In related news, General Counsel Stacey Friedman sold 3,303 shares of JPMorgan Chase & Co. stock in a transaction 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 sale, the general counsel now directly owns 47,620 shares in the company, valued at approximately $12,092,622.80. This trade represents a 6.49 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Jennifer Piepszak sold 4,273 shares of JPMorgan Chase & Co. stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $269.85, for a total value of $1,153,069.05. Following the sale, the chief operating officer now owns 54,469 shares in the company, valued at $14,698,459.65. This trade represents a 7.27 % 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 valued at $12,448,445 over the last 90 days. Insiders own 0.79% of the company’s stock.

JPMorgan Chase & Co. 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.