Bright Rock Capital Management LLC Lowers Position in JPMorgan Chase & Co. (NYSE:JPM)

Bright Rock Capital Management LLC decreased its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 43.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 37,000 shares of the financial services provider’s stock after selling 28,000 shares during the quarter. JPMorgan Chase & Co. accounts for approximately 1.9% of Bright Rock Capital Management LLC’s portfolio, making the stock its 22nd largest position. Bright Rock Capital Management LLC’s holdings in JPMorgan Chase & Co. were worth $8,869,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. Floyd Financial Group LLC purchased a new position in JPMorgan Chase & Co. in the fourth quarter worth $1,273,000. R.H. Investment Group LLC purchased a new position in shares of JPMorgan Chase & Co. in the 4th quarter worth about $1,771,000. Pines Wealth Management LLC bought a new position in shares of JPMorgan Chase & Co. during the 4th quarter valued at about $4,795,000. Sovereign Financial Group Inc. raised its holdings in shares of JPMorgan Chase & Co. by 11.9% during the 4th quarter. Sovereign Financial Group Inc. now owns 6,255 shares of the financial services provider’s stock valued at $1,499,000 after buying an additional 667 shares in the last quarter. Finally, Mayfair Advisory Group LLC lifted its position in JPMorgan Chase & Co. by 5.9% in the 4th quarter. Mayfair Advisory Group LLC now owns 3,757 shares of the financial services provider’s stock worth $901,000 after buying an additional 210 shares during the last quarter. 71.55% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms have commented on JPM. Royal Bank of Canada lifted their price target on shares of JPMorgan Chase & Co. from $211.00 to $230.00 and gave the stock an “outperform” rating in a research note on Monday, October 14th. 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. Truist Financial assumed coverage on JPMorgan Chase & Co. in a research note on Tuesday, January 7th. They set a “hold” rating and a $260.00 price objective on the stock. Oppenheimer lowered JPMorgan Chase & Co. from an “outperform” rating to a “market perform” rating in a research note on Wednesday, November 20th. Finally, Morgan Stanley lowered JPMorgan Chase & Co. from an “overweight” rating to an “equal weight” rating and raised their price target for the stock from $220.00 to $224.00 in a research report on Monday, September 30th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $245.83.

JPMorgan Chase & Co. Stock Up 1.9 %

JPM stock opened at $252.22 on Thursday. JPMorgan Chase & Co. has a fifty-two week low of $164.30 and a fifty-two week high of $254.31. The company has a market capitalization of $710.09 billion, a price-to-earnings ratio of 14.04, a price-to-earnings-growth ratio of 3.54 and a beta of 1.11. The business’s 50 day moving average price is $242.60 and its two-hundred day moving average price is $223.51. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.89 and a current ratio of 0.89.

JPMorgan Chase & Co. (NYSE:JPM) last issued its quarterly earnings results on Wednesday, January 15th. The financial services provider reported $4.81 earnings per share for the quarter, topping the consensus estimate of $4.03 by $0.78. The company had revenue of $42.77 billion for 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 firm’s revenue for the quarter was up 10.9% on a year-over-year basis. During the same period in the prior year, the firm earned $3.04 earnings per share. As a group, analysts forecast that JPMorgan Chase & Co. will post 17.62 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Monday, January 6th will be given a dividend of $1.25 per share. The ex-dividend date of this dividend is Monday, January 6th. This represents a $5.00 dividend on an annualized basis and a yield of 1.98%. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is currently 27.82%.

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.