Delta Asset Management LLC TN Reduces Stock Position in JPMorgan Chase & Co. (NYSE:JPM)

Delta Asset Management LLC TN lessened its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 1.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 14,976 shares of the financial services provider’s stock after selling 251 shares during the period. Delta Asset Management LLC TN’s holdings in JPMorgan Chase & Co. were worth $3,590,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Geode Capital Management LLC lifted its position in shares of JPMorgan Chase & Co. by 0.9% in the 3rd quarter. Geode Capital Management LLC now owns 58,344,186 shares of the financial services provider’s stock worth $12,258,346,000 after purchasing an additional 505,830 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in JPMorgan Chase & Co. by 0.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 20,103,063 shares of the financial services provider’s stock worth $4,818,905,000 after buying an additional 71,122 shares during the period. Fisher Asset Management LLC boosted its position in JPMorgan Chase & Co. by 3.7% during the 4th quarter. Fisher Asset Management LLC now owns 17,401,436 shares of the financial services provider’s stock valued at $4,171,298,000 after acquiring an additional 617,164 shares in the last quarter. Franklin Resources Inc. grew its holdings in shares of 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 worth $3,338,955,000 after acquiring an additional 1,016,289 shares during the period. Finally, Principal Financial Group Inc. raised its position in shares of JPMorgan Chase & Co. by 3.2% in the 3rd quarter. Principal Financial Group Inc. now owns 5,824,289 shares of the financial services provider’s stock worth $1,228,110,000 after acquiring an additional 182,648 shares in the last quarter. Institutional investors own 71.55% of the company’s stock.

JPMorgan Chase & Co. Stock Up 1.2 %

Shares of JPMorgan Chase & Co. stock opened at $245.66 on Tuesday. JPMorgan Chase & Co. has a twelve month low of $179.20 and a twelve month 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. The company’s 50 day moving average is $257.27 and its 200 day moving average is $241.05. The company has a market cap of $686.89 billion, a price-to-earnings ratio of 12.44, a price-to-earnings-growth ratio of 2.83 and a beta of 1.10.

JPMorgan Chase & Co. (NYSE:JPM) last posted its earnings results on Wednesday, January 15th. The financial services provider reported $4.81 earnings per share 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 the consensus estimate of $41.90 billion. JPMorgan Chase & Co. had a return on equity of 16.99% and a net margin of 20.96%. JPMorgan Chase & Co.’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 earnings per share. Research analysts anticipate that JPMorgan Chase & Co. will post 18.1 EPS for the current year.

JPMorgan Chase & Co. Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Friday, April 4th will be issued a $1.40 dividend. This is a boost from JPMorgan Chase & Co.’s previous quarterly dividend of $1.25. This represents a $5.60 dividend on an annualized basis and a yield of 2.28%. The ex-dividend date is Friday, April 4th. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is currently 28.37%.

Insider Activity

In related news, CEO Troy L. Rohrbaugh sold 37,500 shares of the company’s stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $269.84, for a total value of $10,119,000.00. Following the completion of the transaction, the chief executive officer now owns 158,381 shares of the company’s stock, valued at approximately $42,737,529.04. This represents a 19.14 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Robin Leopold sold 1,250 shares of the firm’s stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $270.09, for a total value of $337,612.50. Following the sale, the insider now directly owns 50,377 shares in the company, valued at approximately $13,606,323.93. This represents a 2.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 76,848 shares of company stock valued at $19,987,908 in the last ninety days. Corporate insiders own 0.79% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. Keefe, Bruyette & Woods lifted their price target 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. UBS Group upped their target price on shares of JPMorgan Chase & Co. from $276.00 to $287.00 and gave the stock a “buy” rating in a research report on Thursday, January 16th. Robert W. Baird upgraded shares of 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 note on Friday, March 7th. Bank of America upped their price objective on shares of JPMorgan Chase & Co. from $260.00 to $280.00 and gave the stock a “buy” rating in a report on Tuesday, January 7th. Finally, Piper Sandler lifted their target price on shares of JPMorgan Chase & Co. from $240.00 to $275.00 and gave the company an “overweight” rating in a report on Tuesday, December 3rd. Ten investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $252.89.

About JPMorgan Chase & Co.

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.