Wittenberg Investment Management Inc. Reduces Holdings in JPMorgan Chase & Co. (NYSE:JPM)

Wittenberg Investment Management Inc. cut its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 30.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 32,053 shares of the financial services provider’s stock after selling 14,359 shares during the quarter. JPMorgan Chase & Co. makes up approximately 3.0% of Wittenberg Investment Management Inc.’s holdings, making the stock its 6th biggest holding. Wittenberg Investment Management Inc.’s holdings in JPMorgan Chase & Co. were worth $7,683,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of the company. Norges Bank purchased a new stake in shares of JPMorgan Chase & Co. in the 4th quarter worth approximately $8,310,884,000. Proficio Capital Partners LLC raised its stake in JPMorgan Chase & Co. by 34,259.3% in the fourth quarter. Proficio Capital Partners LLC now owns 3,499,499 shares of the financial services provider’s stock worth $838,865,000 after buying an additional 3,489,314 shares in the last quarter. KLP Kapitalforvaltning AS purchased a new stake in JPMorgan Chase & Co. during the fourth quarter worth $259,038,000. Franklin Resources Inc. boosted its position in JPMorgan Chase & Co. by 7.2% during the 3rd quarter. Franklin Resources Inc. now owns 15,073,193 shares of the financial services provider’s stock valued at $3,338,955,000 after acquiring an additional 1,016,289 shares in the last quarter. Finally, Axiom Investors LLC DE purchased a new position in shares of JPMorgan Chase & Co. in the 4th quarter valued at $222,998,000. Hedge funds and other institutional investors own 71.55% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. Wolfe Research upgraded JPMorgan Chase & Co. from a “peer perform” rating to an “outperform” rating and set a $269.00 price objective for the company in a research note on Friday, January 3rd. Keefe, Bruyette & Woods raised their price target on shares of JPMorgan Chase & Co. from $257.00 to $264.00 and gave the company a “market perform” rating in a report on Thursday, January 16th. Barclays lifted their price objective on shares of JPMorgan Chase & Co. from $304.00 to $330.00 and gave the stock an “overweight” rating in a research report on Thursday, January 16th. Truist Financial decreased their target price on shares of JPMorgan Chase & Co. from $268.00 to $264.00 and set a “hold” rating for the company in a research report on Friday. Finally, Baird R W raised JPMorgan Chase & Co. from a “strong sell” rating to a “hold” rating in a research report on Friday, March 7th. Ten investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, JPMorgan Chase & Co. has an average rating of “Moderate Buy” and a consensus price target of $254.83.

Insider Buying and Selling at JPMorgan Chase & Co.

In related news, insider Robin Leopold sold 1,250 shares of JPMorgan Chase & Co. stock in a transaction that occurred 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 directly owns 50,377 shares in the company, 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 legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Troy L. Rohrbaugh sold 37,500 shares of the company’s stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $269.84, for a total value 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 represents a 19.14 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 76,848 shares of company stock worth $19,987,908. Insiders own 0.79% of the company’s stock.

JPMorgan Chase & Co. Trading Down 8.1 %

JPMorgan Chase & Co. stock opened at $210.09 on Friday. The stock has a 50-day moving average price of $254.71 and a 200 day moving average price of $241.51. The company has a market capitalization of $587.43 billion, a price-to-earnings ratio of 10.64, a price-to-earnings-growth ratio of 2.83 and a beta of 1.01. JPMorgan Chase & Co. has a 52 week low of $179.20 and a 52 week high of $280.25. 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. (NYSE:JPM) last announced its quarterly earnings data on Wednesday, January 15th. The financial services provider reported $4.81 EPS for the quarter, beating the consensus estimate of $4.03 by $0.78. The business had revenue of $42.77 billion during the quarter, compared to analysts’ expectations of $41.90 billion. JPMorgan Chase & Co. had a net margin of 20.96% and a return on equity of 16.99%. The business’s quarterly revenue was up 10.9% compared to the same quarter last year. During the same period in the previous year, the business posted $3.04 EPS. Sell-side analysts anticipate that JPMorgan Chase & Co. will post 18.1 EPS for the current year.

JPMorgan Chase & Co. Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Friday, April 4th will be given a dividend of $1.40 per share. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.25. This represents a $5.60 annualized dividend and a yield of 2.67%. The ex-dividend date of this dividend is Friday, April 4th. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is currently 28.37%.

JPMorgan Chase & Co. Profile

JPMorgan Chase & Co is a financial holding company, which engages in the provision of financial and investment banking services. It focuses on investment banking, financial services for consumers and small businesses, commercial banking, financial transaction processing, and asset management. It operates through the following segments: Consumer and Community Banking (CCB), Commercial and Investment Bank (CIB), Asset and Wealth Management (AWM), and Corporate.