JPMorgan Chase & Co. (NYSE:JPM) Shares Sold by Pinnacle West Asset Management Inc.

Pinnacle West Asset Management Inc. trimmed its position in JPMorgan Chase & Co. (NYSE:JPM) by 1.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 15,215 shares of the financial services provider’s stock after selling 240 shares during the quarter. JPMorgan Chase & Co. makes up approximately 2.6% of Pinnacle West Asset Management Inc.’s portfolio, making the stock its 5th largest position. Pinnacle West Asset Management Inc.’s holdings in JPMorgan Chase & Co. were worth $3,647,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in JPM. Mizuho Securities Co. Ltd. bought a new position in JPMorgan Chase & Co. during the third quarter valued at approximately $25,000. Catalyst Capital Advisors LLC acquired a new stake in shares of JPMorgan Chase & Co. in the third quarter worth $27,000. New England Capital Financial Advisors LLC grew its stake in shares of 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 worth $38,000 after acquiring an additional 50 shares during the last quarter. Midwest Capital Advisors LLC acquired a new stake in shares of JPMorgan Chase & Co. in the fourth quarter worth $43,000. Finally, Collier Financial acquired a new stake in shares of JPMorgan Chase & Co. in the fourth quarter worth $45,000. 71.55% of the stock is owned by hedge funds and other institutional investors.

JPMorgan Chase & Co. Trading Down 1.7 %

Shares of JPMorgan Chase & Co. stock opened at $242.41 on Friday. JPMorgan Chase & Co. has a 12-month low of $179.20 and a 12-month high of $280.25. The business’s 50 day moving average is $259.41 and its 200-day moving average is $238.26. The company has a quick ratio of 0.89, a current ratio of 0.88 and a debt-to-equity ratio of 1.24. The stock has a market cap of $677.81 billion, a P/E ratio of 12.28, a P/E/G ratio of 2.83 and a beta of 1.10.

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

JPMorgan Chase & Co. Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Monday, January 6th were paid a $1.25 dividend. This represents a $5.00 annualized dividend and a yield of 2.06%. The ex-dividend date was Monday, January 6th. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is presently 25.33%.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on JPM. UBS Group lifted their price objective on JPMorgan Chase & Co. from $276.00 to $287.00 and gave the company a “buy” rating in a report on Thursday, January 16th. Robert W. Baird upgraded JPMorgan Chase & Co. from an “underperform” rating to a “neutral” rating and boosted their target price for the stock from $215.00 to $220.00 in a research report on Friday. Oppenheimer lowered JPMorgan Chase & Co. from an “outperform” rating to a “market perform” rating in a research report on Wednesday, November 20th. Citigroup boosted their price objective on JPMorgan Chase & Co. from $215.00 to $250.00 and gave the company a “neutral” rating in a research report on Tuesday, November 19th. Finally, Piper Sandler boosted their target price on JPMorgan Chase & Co. from $240.00 to $275.00 and gave the company an “overweight” rating in a research note on Tuesday, December 3rd. One analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $252.89.

Insider Buying and Selling at JPMorgan Chase & Co.

In other news, insider Robin Leopold sold 1,250 shares of JPMorgan Chase & Co. stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $270.09, for a total transaction of $337,612.50. Following 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Troy L. Rohrbaugh sold 37,500 shares of JPMorgan Chase & Co. stock in a transaction dated Thursday, February 20th. The shares were 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 directly owns 158,381 shares in the company, valued at $42,737,529.04. The trade was a 19.14 % 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 worth $12,448,445 over 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.