Spinnaker Trust Reduces Stake in JPMorgan Chase & Co. (NYSE:JPM)

Spinnaker Trust lessened its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 0.6% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 68,603 shares of the financial services provider’s stock after selling 408 shares during the period. JPMorgan Chase & Co. accounts for approximately 1.0% of Spinnaker Trust’s portfolio, making the stock its 21st biggest position. Spinnaker Trust’s holdings in JPMorgan Chase & Co. were worth $16,445,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. AMF Tjanstepension AB grew its stake in shares of JPMorgan Chase & Co. by 17.2% in the 3rd quarter. AMF Tjanstepension AB now owns 473,785 shares of the financial services provider’s stock valued at $99,972,000 after buying an additional 69,451 shares during the period. Alpha Financial Partners LLC lifted its holdings in JPMorgan Chase & Co. by 11.5% in the third quarter. Alpha Financial Partners LLC now owns 3,329 shares of the financial services provider’s stock valued at $702,000 after acquiring an additional 343 shares during the last quarter. Mcdaniel Terry & Co. grew its position in JPMorgan Chase & Co. by 7.8% in the third quarter. Mcdaniel Terry & Co. now owns 6,209 shares of the financial services provider’s stock worth $1,309,000 after acquiring an additional 450 shares during the period. Global Trust Asset Management LLC increased its stake in JPMorgan Chase & Co. by 3.5% during the third quarter. Global Trust Asset Management LLC now owns 10,029 shares of the financial services provider’s stock worth $2,115,000 after acquiring an additional 341 shares during the last quarter. Finally, DT Investment Partners LLC increased its stake in JPMorgan Chase & Co. by 0.8% during the third quarter. DT Investment Partners LLC now owns 42,670 shares of the financial services provider’s stock worth $8,997,000 after acquiring an additional 332 shares during the last quarter. Hedge funds and other institutional investors own 71.55% of the company’s stock.

JPMorgan Chase & Co. Price Performance

JPM stock opened at $261.02 on Tuesday. The business’s 50-day moving average is $256.54 and its two-hundred day moving average is $235.85. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.88 and a quick ratio of 0.89. The firm has a market capitalization of $729.83 billion, a P/E ratio of 13.22, a P/E/G ratio of 2.83 and a beta of 1.12. JPMorgan Chase & Co. has a 1 year low of $179.20 and a 1 year high of $280.25.

JPMorgan Chase & Co. (NYSE:JPM) last released its earnings results on Wednesday, January 15th. The financial services provider reported $4.81 earnings per share for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $42.77 billion for the quarter, compared to analyst estimates of $41.90 billion. During the same period in the prior year, the firm earned $3.04 earnings per share. The business’s quarterly revenue was up 10.9% compared to the same quarter last year. Analysts anticipate that JPMorgan Chase & Co. will post 18.1 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Monday, January 6th were issued a $1.25 dividend. The ex-dividend date of this dividend was Monday, January 6th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 1.92%. JPMorgan Chase & Co.’s payout ratio is 25.33%.

Insider Transactions at JPMorgan Chase & Co.

In other news, COO Jennifer Piepszak sold 4,273 shares of the stock in a transaction dated 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 transaction, the chief operating officer now owns 54,469 shares in the company, valued at approximately $14,698,459.65. This represents a 7.27 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Troy L. Rohrbaugh sold 37,500 shares of the business’s stock in a transaction that occurred 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 sale, the chief executive officer now owns 158,381 shares of the company’s stock, valued at approximately $42,737,529.04. The trade was a 19.14 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 46,326 shares of company stock valued at $12,448,445. Insiders own 0.79% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on JPM. Truist Financial upped their price target on JPMorgan Chase & Co. from $260.00 to $268.00 and gave the company a “hold” rating in a research note on Thursday, January 16th. Baird R W lowered shares of JPMorgan Chase & Co. from a “hold” rating to a “strong sell” rating in a research note on Thursday, November 7th. UBS Group lifted their price target on shares of JPMorgan Chase & Co. from $276.00 to $287.00 and gave the company a “buy” rating in a research report on Thursday, January 16th. Wolfe Research upgraded shares of JPMorgan Chase & Co. from a “peer perform” rating to an “outperform” rating and set a $269.00 price objective on the stock in a report on Friday, January 3rd. Finally, Barclays increased their price objective on shares of JPMorgan Chase & Co. from $304.00 to $330.00 and gave the stock an “overweight” rating in a research report on Thursday, January 16th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average 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.