JPMorgan Chase & Co. (NYSE:JPM) is Pinnacle Financial Partners Inc’s 6th Largest Position

Pinnacle Financial Partners Inc decreased its position in shares of JPMorgan Chase & Co. (NYSE:JPM) by 0.9% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 621,203 shares of the financial services provider’s stock after selling 5,717 shares during the period. JPMorgan Chase & Co. makes up approximately 2.9% of Pinnacle Financial Partners Inc’s holdings, making the stock its 6th largest holding. Pinnacle Financial Partners Inc’s holdings in JPMorgan Chase & Co. were worth $140,655,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Mizuho Securities Co. Ltd. purchased a new stake in JPMorgan Chase & Co. during the third quarter valued at about $25,000. Catalyst Capital Advisors LLC bought a new stake in JPMorgan Chase & Co. in the third quarter valued at approximately $27,000. New England Capital Financial Advisors LLC boosted its stake in shares of 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 purchasing an additional 50 shares during the period. Peterson Financial Group Inc. bought a new position in shares of JPMorgan Chase & Co. in the third quarter worth approximately $45,000. Finally, Legacy Investment Solutions LLC bought a new position in shares of JPMorgan Chase & Co. in the third quarter worth approximately $45,000. Institutional investors own 71.55% of the company’s stock.

Insiders Place Their Bets

In other news, COO Jennifer Piepszak sold 4,273 shares of the business’s stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $269.85, for a total transaction of $1,153,069.05. Following the transaction, the chief operating officer now directly owns 54,469 shares in the company, valued at $14,698,459.65. The trade was a 7.27 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, General Counsel Stacey Friedman sold 3,303 shares of the business’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 disclosure for this sale can be found here. Over the last 90 days, insiders have sold 46,326 shares of company stock worth $12,448,445. 0.79% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on JPM shares. UBS Group raised their target price on JPMorgan Chase & Co. from $276.00 to $287.00 and gave the stock a “buy” rating in a research note on Thursday, January 16th. Robert W. Baird lowered JPMorgan Chase & Co. from a “neutral” rating to an “underperform” rating and set a $200.00 price objective on the stock. in a research report on Thursday, November 7th. Oppenheimer downgraded JPMorgan Chase & Co. from an “outperform” rating to a “market perform” rating in a report on Wednesday, November 20th. Truist Financial lifted their price target on shares of JPMorgan Chase & Co. from $260.00 to $268.00 and gave the company a “hold” rating in a report on Thursday, January 16th. Finally, Piper Sandler increased their price target on shares of JPMorgan Chase & Co. from $240.00 to $275.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 3rd. Two analysts have rated the stock with a sell rating, eight have given a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $251.78.

JPMorgan Chase & Co. Stock Down 4.1 %

Shares of JPM stock opened at $249.94 on Wednesday. JPMorgan Chase & Co. has a fifty-two week low of $179.20 and a fifty-two week high of $280.25. The firm has a market capitalization of $698.85 billion, a PE ratio of 12.66, a P/E/G ratio of 2.83 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. The stock’s 50-day simple moving average is $259.14 and its 200-day simple moving average is $237.92.

JPMorgan Chase & Co. (NYSE:JPM) last issued its earnings results on Wednesday, January 15th. The financial services provider reported $4.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.03 by $0.78. The firm had revenue of $42.77 billion during the quarter, compared to analysts’ expectations 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 revenue was up 10.9% compared to the same quarter last year. During the same quarter last year, the company posted $3.04 earnings per share. Equities analysts expect that JPMorgan Chase & Co. will post 18.1 earnings per share for the current year.

JPMorgan Chase & Co. Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, January 31st. Investors 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 yield of 2.00%. JPMorgan Chase & Co.’s payout ratio is 25.33%.

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.