New York Life Investment Management LLC Reduces Position in JPMorgan Chase & Co. (NYSE:JPM)

New York Life Investment Management LLC lessened its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 0.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 377,866 shares of the financial services provider’s stock after selling 1,415 shares during the quarter. JPMorgan Chase & Co. makes up approximately 0.9% of New York Life Investment Management LLC’s portfolio, making the stock its 19th biggest position. New York Life Investment Management LLC’s holdings in JPMorgan Chase & Co. were worth $90,578,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the stock. Mizuho Securities Co. Ltd. bought a new position in shares of JPMorgan Chase & Co. during the third quarter valued at approximately $25,000. Midwest Capital Advisors LLC bought a new position in shares of JPMorgan Chase & Co. during the fourth quarter valued at approximately $43,000. Peterson Financial Group Inc. bought a new position in shares of JPMorgan Chase & Co. during the third quarter valued at approximately $45,000. Legacy Investment Solutions LLC bought a new position in shares of JPMorgan Chase & Co. during the third quarter valued at approximately $45,000. Finally, Collier Financial bought a new position in shares of JPMorgan Chase & Co. during the fourth quarter valued at approximately $45,000. Hedge funds and other institutional investors own 71.55% of the company’s stock.

Insider Transactions at JPMorgan Chase & Co.

In related news, insider Robin Leopold sold 1,250 shares of the business’s stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $270.09, for a total transaction of $337,612.50. Following the completion of the transaction, the insider now owns 50,377 shares in the company, valued at $13,606,323.93. The trade was a 2.42 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, General Counsel Stacey Friedman sold 3,303 shares of the business’s 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 transaction, the general counsel now owns 47,620 shares of the company’s stock, valued at approximately $12,092,622.80. The trade was a 6.49 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 46,326 shares of company stock worth $12,448,445. 0.79% of the stock is currently owned by company insiders.

JPMorgan Chase & Co. Stock Performance

NYSE:JPM opened at $242.41 on Friday. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.88 and a quick ratio of 0.89. JPMorgan Chase & Co. has a 1 year low of $179.20 and a 1 year high of $280.25. The stock’s 50 day simple moving average is $259.41 and its two-hundred day simple moving average is $238.43. 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 released its quarterly earnings data on Wednesday, January 15th. The financial services provider reported $4.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.03 by $0.78. JPMorgan Chase & Co. had a return on equity of 16.99% and a net margin of 20.96%. The business had revenue of $42.77 billion for the quarter, compared to the consensus estimate of $41.90 billion. During the same quarter in the previous year, the company posted $3.04 EPS. The company’s revenue was up 10.9% compared to the same quarter last year. 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. Stockholders of record on Monday, January 6th were issued a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.06%. The ex-dividend date of this dividend was Monday, January 6th. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is 25.33%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Bank of America upped their target price on JPMorgan Chase & Co. from $260.00 to $280.00 and gave the company a “buy” rating in a report on Tuesday, January 7th. Wells Fargo & Company increased their price objective on JPMorgan Chase & Co. from $240.00 to $270.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. Robert W. Baird upgraded JPMorgan Chase & Co. from an “underperform” rating to a “neutral” rating and increased their price objective for the stock from $215.00 to $220.00 in a report on Friday. Keefe, Bruyette & Woods increased their price objective on JPMorgan Chase & Co. from $257.00 to $264.00 and gave the stock a “market perform” rating in a report on Thursday, January 16th. Finally, Piper Sandler increased their price objective on JPMorgan Chase & Co. from $240.00 to $275.00 and gave the stock an “overweight” rating in a report on Tuesday, December 3rd. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, JPMorgan Chase & Co. currently has an average rating of “Hold” and a consensus price target of $252.89.

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.