Meridian Wealth Management LLC Sells 3,654 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Meridian Wealth Management LLC trimmed its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 1.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 193,906 shares of the financial services provider’s stock after selling 3,654 shares during the period. JPMorgan Chase & Co. comprises 2.2% of Meridian Wealth Management LLC’s investment portfolio, making the stock its 8th largest position. Meridian Wealth Management LLC’s holdings in JPMorgan Chase & Co. were worth $46,481,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Mizuho Securities Co. Ltd. bought a new stake in shares of JPMorgan Chase & Co. in the third quarter worth $25,000. Midwest Capital Advisors LLC acquired a new position in shares of JPMorgan Chase & Co. during the fourth quarter valued at $43,000. Peterson Financial Group Inc. acquired a new stake in JPMorgan Chase & Co. in the third quarter worth about $45,000. Legacy Investment Solutions LLC acquired a new stake in JPMorgan Chase & Co. in the third quarter worth about $45,000. Finally, Collier Financial acquired a new stake in JPMorgan Chase & Co. in the 4th quarter valued at about $45,000. 71.55% of the stock is owned by institutional investors and hedge funds.

Insider Activity at JPMorgan Chase & Co.

In related news, General Counsel Stacey Friedman sold 3,303 shares of JPMorgan Chase & Co. stock in a transaction that occurred 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 sale, the general counsel now owns 47,620 shares of the company’s stock, valued at approximately $12,092,622.80. This trade represents a 6.49 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Jennifer Piepszak sold 4,273 shares of JPMorgan Chase & Co. stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $269.85, for a total value of $1,153,069.05. Following the completion of the sale, the chief operating officer now directly owns 54,469 shares in the company, valued at approximately $14,698,459.65. This represents a 7.27 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 46,326 shares of company stock valued at $12,448,445. 0.79% of the stock is owned by insiders.

Analysts Set New Price Targets

JPM has been the topic of several recent analyst reports. Oppenheimer downgraded JPMorgan Chase & Co. from an “outperform” rating to a “market perform” rating in a report on Wednesday, November 20th. Wolfe Research raised 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. Barclays increased their price objective on JPMorgan Chase & Co. from $304.00 to $330.00 and gave the company an “overweight” rating in a research report on Thursday, January 16th. Piper Sandler raised their target price on JPMorgan Chase & Co. from $240.00 to $275.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 3rd. Finally, 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. Ten equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, JPMorgan Chase & Co. currently has a consensus rating of “Moderate Buy” and a consensus price target of $252.89.

JPMorgan Chase & Co. Trading Down 1.6 %

JPM opened at $224.32 on Friday. The stock has a market capitalization of $627.21 billion, a P/E ratio of 11.36, a P/E/G ratio of 2.83 and a beta of 1.10. The company has a current ratio of 0.88, a quick ratio of 0.89 and a debt-to-equity ratio of 1.24. JPMorgan Chase & Co. has a 12 month low of $179.20 and a 12 month high of $280.25. The firm’s fifty day simple moving average is $258.50 and its 200 day simple moving average is $238.60.

JPMorgan Chase & Co. (NYSE:JPM) last issued its quarterly earnings results 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 company 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 quarterly revenue was up 10.9% compared to the same quarter last year. During the same period in the previous year, the company posted $3.04 earnings per share. As a group, research analysts anticipate that JPMorgan Chase & Co. will post 18.1 EPS for the current fiscal year.

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.