Channel Wealth LLC Sells 3,240 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Channel Wealth LLC lessened its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 23.4% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 10,587 shares of the financial services provider’s stock after selling 3,240 shares during the period. Channel Wealth LLC’s holdings in JPMorgan Chase & Co. were worth $2,538,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Eagle Capital Management LLC raised its position in JPMorgan Chase & Co. by 0.4% in the 2nd quarter. Eagle Capital Management LLC now owns 21,867 shares of the financial services provider’s stock worth $4,423,000 after purchasing an additional 84 shares during the last quarter. Fiera Capital Corp increased its stake in shares of JPMorgan Chase & Co. by 1.7% in the 2nd quarter. Fiera Capital Corp now owns 3,738 shares of the financial services provider’s stock valued at $756,000 after buying an additional 63 shares during the period. Bcwm LLC raised its position in shares of JPMorgan Chase & Co. by 3.2% during the second quarter. Bcwm LLC now owns 45,861 shares of the financial services provider’s stock worth $9,276,000 after acquiring an additional 1,438 shares during the last quarter. Capital Wealth Planning LLC lifted its stake in shares of JPMorgan Chase & Co. by 26.7% during the second quarter. Capital Wealth Planning LLC now owns 2,458,125 shares of the financial services provider’s stock valued at $497,180,000 after acquiring an additional 518,100 shares during the period. Finally, Black Diamond Financial LLC boosted its holdings in JPMorgan Chase & Co. by 9.6% in the second quarter. Black Diamond Financial LLC now owns 6,221 shares of the financial services provider’s stock valued at $1,258,000 after acquiring an additional 543 shares during the last quarter. 71.55% of the stock is currently owned by institutional investors and hedge funds.

JPMorgan Chase & Co. Stock Up 2.0 %

Shares of JPM stock opened at $259.46 on Friday. JPMorgan Chase & Co. has a 12-month low of $165.24 and a 12-month high of $260.62. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 1.27. The firm has a fifty day moving average of $243.50 and a 200-day moving average of $224.30. The company has a market capitalization of $730.47 billion, a price-to-earnings ratio of 14.44, a P/E/G ratio of 3.16 and a beta of 1.11.

JPMorgan Chase & Co. (NYSE:JPM) last released its earnings results 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. The firm had revenue of $42.77 billion during the quarter, compared to analysts’ expectations of $41.90 billion. JPMorgan Chase & Co. had a return on equity of 16.71% and a net margin of 19.64%. The company’s revenue was up 10.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.04 EPS. As a group, equities research analysts predict that JPMorgan Chase & Co. will post 17.46 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Monday, January 6th will be paid a $1.25 dividend. This represents a $5.00 annualized dividend and a yield of 1.93%. The ex-dividend date is Monday, January 6th. JPMorgan Chase & Co.’s payout ratio is 27.82%.

Insider Buying and Selling at JPMorgan Chase & Co.

In other news, General Counsel Stacey Friedman sold 3,303 shares of JPMorgan Chase & Co. stock in a transaction that occurred 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 directly owns 47,620 shares in the company, valued at $12,092,622.80. This trade represents a 6.49 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.79% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on JPM shares. Bank of America boosted their price objective on JPMorgan Chase & Co. from $260.00 to $280.00 and gave the stock a “buy” rating in a report on Tuesday, January 7th. Citigroup boosted their price target on shares of JPMorgan Chase & Co. from $215.00 to $250.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 19th. UBS Group raised their price objective on shares of JPMorgan Chase & Co. from $276.00 to $287.00 and gave the company a “buy” rating in a research note on Thursday. Evercore ISI upped their target price on shares of JPMorgan Chase & Co. from $217.00 to $230.00 and gave the company an “outperform” rating in a research report on Monday, October 14th. Finally, Piper Sandler raised their price target 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. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $251.78.

JPMorgan Chase & Co. Profile

JPMorgan Chase & Co operates as a financial services company worldwide. It operates through four segments: Consumer & Community Banking (CCB), Corporate & Investment Bank (CIB), Commercial Banking (CB), and Asset & Wealth Management (AWM). The CCB segment offers deposit, investment and lending products, cash management, and payments and services; mortgage origination and servicing activities; residential mortgages and home equity loans; and credit cards, auto loans, leases, and travel services to consumers and small businesses through bank branches, ATMs, and digital and telephone banking.