JPMorgan Chase & Co. (NYSE:JPM) Shares Sold by Meridian Wealth Partners LLC

Meridian Wealth Partners LLC reduced its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 11.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,382 shares of the financial services provider’s stock after selling 458 shares during the period. Meridian Wealth Partners LLC’s holdings in JPMorgan Chase & Co. were worth $811,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Midwest Capital Advisors LLC acquired a new stake in shares of JPMorgan Chase & Co. during the 4th quarter valued at approximately $43,000. Legacy Investment Solutions LLC acquired a new position in JPMorgan Chase & Co. in the third quarter worth $45,000. Collier Financial bought a new stake in JPMorgan Chase & Co. during the fourth quarter valued at $45,000. Lowe Wealth Advisors LLC raised its holdings in shares of JPMorgan Chase & Co. by 34.0% during the fourth quarter. Lowe Wealth Advisors LLC now owns 201 shares of the financial services provider’s stock worth $48,000 after purchasing an additional 51 shares during the period. Finally, Kieckhefer Group LLC acquired a new position in shares of JPMorgan Chase & Co. in the 4th quarter valued at about $50,000. 71.55% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms recently weighed in on JPM. Piper Sandler increased their price objective on shares of JPMorgan Chase & Co. from $240.00 to $275.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 3rd. Robert W. Baird upgraded JPMorgan Chase & Co. from an “underperform” rating to a “neutral” rating and increased their price target for the stock from $215.00 to $220.00 in a research report on Friday, March 7th. Keefe, Bruyette & Woods boosted their price objective on JPMorgan Chase & Co. from $257.00 to $264.00 and gave the company a “market perform” rating in a research report on Thursday, January 16th. Truist Financial increased their target price on JPMorgan Chase & Co. from $260.00 to $268.00 and gave the stock a “hold” rating in a research report on Thursday, January 16th. Finally, Barclays boosted their price target on shares of JPMorgan Chase & Co. from $304.00 to $330.00 and gave the company an “overweight” rating in a report on Thursday, January 16th. Ten analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $252.89.

JPMorgan Chase & Co. Stock Down 2.1 %

JPM opened at $242.97 on Friday. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.89 and a current ratio of 0.88. The company has a market capitalization of $679.36 billion, a PE ratio of 12.31, a P/E/G ratio of 2.83 and a beta of 1.10. The stock’s fifty day moving average is $257.55 and its 200-day moving average is $240.30. JPMorgan Chase & Co. has a one year low of $179.20 and a one year high of $280.25.

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, topping the consensus estimate of $4.03 by $0.78. JPMorgan Chase & Co. had a net margin of 20.96% and a return on equity of 16.99%. The firm had revenue of $42.77 billion for the quarter, compared to analysts’ expectations of $41.90 billion. During the same period in the previous year, the business earned $3.04 earnings per share. JPMorgan Chase & Co.’s revenue for the quarter was up 10.9% compared to the same quarter last year. On average, equities analysts predict that JPMorgan Chase & Co. will post 18.1 EPS for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Friday, April 4th will be paid a dividend of $1.40 per share. The ex-dividend date is Friday, April 4th. This is a positive change from JPMorgan Chase & Co.’s previous quarterly dividend of $1.25. This represents a $5.60 annualized dividend and a yield of 2.30%. JPMorgan Chase & Co.’s dividend payout ratio is currently 28.37%.

Insiders Place Their Bets

In related news, General Counsel Stacey Friedman sold 3,303 shares of the stock in a transaction 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 completion of the transaction, the general counsel now owns 47,620 shares in the company, valued at $12,092,622.80. This trade represents a 6.49 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Troy L. Rohrbaugh sold 25,000 shares of the business’s stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $247.02, for a total value of $6,175,500.00. Following the sale, the chief executive officer now owns 133,381 shares in the company, valued at approximately $32,947,774.62. The trade was a 15.78 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 76,848 shares of company stock worth $19,987,908. 0.79% of the stock is owned by insiders.

JPMorgan Chase & Co. Company 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.