Birinyi Associates Inc. Lowers Stock Position in JPMorgan Chase & Co. (NYSE:JPM)

Birinyi Associates Inc. lowered its position in JPMorgan Chase & Co. (NYSE:JPM) by 2.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,861 shares of the financial services provider’s stock after selling 299 shares during the period. JPMorgan Chase & Co. comprises about 0.7% of Birinyi Associates Inc.’s portfolio, making the stock its 21st largest position. Birinyi Associates Inc.’s holdings in JPMorgan Chase & Co. were worth $2,604,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Mizuho Securities Co. Ltd. purchased a new stake in JPMorgan Chase & Co. during the third quarter worth about $25,000. Catalyst Capital Advisors LLC bought a new position in JPMorgan Chase & Co. during the third quarter worth about $27,000. New England Capital Financial Advisors LLC boosted its position 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 valued at $38,000 after acquiring an additional 50 shares during the period. Midwest Capital Advisors LLC bought a new position in shares of JPMorgan Chase & Co. in the fourth quarter valued at approximately $43,000. Finally, Peterson Financial Group Inc. bought a new position in shares of JPMorgan Chase & Co. in the third quarter valued at approximately $45,000. Hedge funds and other institutional investors own 71.55% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on JPM. Truist Financial lifted their target price on shares of JPMorgan Chase & Co. from $260.00 to $268.00 and gave the company a “hold” rating in a research report on Thursday, January 16th. Oppenheimer lowered shares of JPMorgan Chase & Co. from an “outperform” rating to a “market perform” rating in a research report on Wednesday, November 20th. Wolfe Research upgraded shares of JPMorgan Chase & Co. from a “peer perform” rating to an “outperform” rating and set a $269.00 target price for the company in a research report on Friday, January 3rd. UBS Group lifted their target price 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. Finally, Barclays lifted 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. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $252.89.

Insider Buying and Selling

In related news, General Counsel Stacey Friedman sold 3,303 shares of JPMorgan Chase & Co. stock in a transaction on Thursday, January 16th. The shares were sold at an average price of $253.94, for a total value of $838,763.82. Following the sale, the general counsel now owns 47,620 shares in the company, valued at $12,092,622.80. The trade was a 6.49 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Troy L. Rohrbaugh sold 37,500 shares of JPMorgan Chase & Co. stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $269.84, for a total transaction of $10,119,000.00. Following the completion of the sale, the chief executive officer now owns 158,381 shares in the company, valued at approximately $42,737,529.04. This trade represents a 19.14 % decrease in their position. 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 three months. 0.79% of the stock is owned by company insiders.

JPMorgan Chase & Co. Stock Down 1.7 %

Shares of NYSE JPM opened at $242.41 on Friday. The company has a quick ratio of 0.89, a current ratio of 0.88 and a debt-to-equity ratio of 1.24. JPMorgan Chase & Co. has a 52 week low of $179.20 and a 52 week high of $280.25. The firm’s fifty day moving average is $259.41 and its 200 day moving average is $238.26. The company has a market cap of $677.81 billion, a price-to-earnings ratio of 12.28, a PEG ratio of 2.83 and a beta of 1.10.

JPMorgan Chase & Co. (NYSE:JPM) last issued its earnings results on Wednesday, January 15th. The financial services provider reported $4.81 EPS for the quarter, topping the consensus estimate 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 company had revenue of $42.77 billion for the quarter, compared to the consensus estimate of $41.90 billion. During the same period in the previous year, the firm earned $3.04 earnings per share. The firm’s revenue for the quarter was up 10.9% on a year-over-year basis. On average, equities research analysts expect that JPMorgan Chase & Co. will post 18.1 earnings per share for the current year.

JPMorgan Chase & Co. Dividend Announcement

The company also recently announced 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 dividend yield of 2.06%. The ex-dividend date was Monday, January 6th. 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.