Essex Investment Management Co. LLC Sells 7,378 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Essex Investment Management Co. LLC reduced its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 63.9% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 4,177 shares of the financial services provider’s stock after selling 7,378 shares during the period. Essex Investment Management Co. LLC’s holdings in JPMorgan Chase & Co. were worth $711,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently modified their holdings of JPM. Advisor OS LLC raised its stake in shares of JPMorgan Chase & Co. by 5.6% during the 4th quarter. Advisor OS LLC now owns 15,903 shares of the financial services provider’s stock worth $2,705,000 after purchasing an additional 850 shares during the period. Partnership Wealth Management LLC bought a new stake in shares of JPMorgan Chase & Co. in the 4th quarter worth approximately $36,000. Avantax Advisory Services Inc. lifted its stake in JPMorgan Chase & Co. by 2.6% in the fourth quarter. Avantax Advisory Services Inc. now owns 193,746 shares of the financial services provider’s stock valued at $32,956,000 after purchasing an additional 4,965 shares during the last quarter. Checchi Capital Advisers LLC lifted its stake in JPMorgan Chase & Co. by 0.4% in the fourth quarter. Checchi Capital Advisers LLC now owns 38,231 shares of the financial services provider’s stock valued at $6,503,000 after purchasing an additional 143 shares during the last quarter. Finally, Ieq Capital LLC grew its holdings in JPMorgan Chase & Co. by 4.2% during the fourth quarter. Ieq Capital LLC now owns 242,630 shares of the financial services provider’s stock valued at $41,271,000 after purchasing an additional 9,832 shares during the period. 71.55% of the stock is owned by hedge funds and other institutional investors.

JPMorgan Chase & Co. Stock Performance

JPM stock opened at $204.79 on Friday. The stock’s 50 day simple moving average is $193.84 and its 200 day simple moving average is $176.07. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 1.29. JPMorgan Chase & Co. has a 12-month low of $134.40 and a 12-month high of $205.05. The stock has a market capitalization of $588.09 billion, a PE ratio of 12.37, a price-to-earnings-growth ratio of 2.49 and a beta of 1.13.

JPMorgan Chase & Co. (NYSE:JPM) last issued its earnings results on Friday, April 12th. The financial services provider reported $4.63 earnings per share for the quarter, topping analysts’ consensus estimates of $4.18 by $0.45. The business had revenue of $41.93 billion during the quarter, compared to analyst estimates of $40.90 billion. JPMorgan Chase & Co. had a return on equity of 17.79% and a net margin of 20.05%. As a group, research analysts forecast that JPMorgan Chase & Co. will post 16.22 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 30th. Shareholders of record on Friday, April 5th were given a $1.15 dividend. This represents a $4.60 dividend on an annualized basis and a yield of 2.25%. The ex-dividend date was Thursday, April 4th. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.05. JPMorgan Chase & Co.’s payout ratio is 27.78%.

Insider Buying and Selling at JPMorgan Chase & Co.

In related news, CEO James Dimon sold 821,778 shares of JPMorgan Chase & Co. stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $182.73, for a total value of $150,163,493.94. Following the completion of the sale, the chief executive officer now owns 595,316 shares of the company’s stock, valued at $108,782,092.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, insider Lori A. Beer sold 3,920 shares of JPMorgan Chase & Co. stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $182.74, for a total transaction of $716,340.80. Following the transaction, the insider now directly owns 44,996 shares in the company, valued at $8,222,569.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO James Dimon sold 821,778 shares of the company’s stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $182.73, for a total value of $150,163,493.94. Following the completion of the sale, the chief executive officer now owns 595,316 shares of the company’s stock, valued at approximately $108,782,092.68. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,071,414 shares of company stock worth $196,746,504. Insiders own 0.79% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on JPM. The Goldman Sachs Group reiterated a “buy” rating on shares of JPMorgan Chase & Co. in a research note on Thursday, February 1st. Piper Sandler dropped their target price on JPMorgan Chase & Co. from $220.00 to $215.00 and set an “overweight” rating on the stock in a research report on Monday, April 15th. Oppenheimer decreased their price objective on JPMorgan Chase & Co. from $219.00 to $217.00 and set an “outperform” rating on the stock in a research note on Monday, April 15th. Keefe, Bruyette & Woods increased their price objective on JPMorgan Chase & Co. from $182.00 to $195.00 and gave the stock a “market perform” rating in a research report on Friday, April 5th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $185.00 price objective on shares of JPMorgan Chase & Co. in a research note on Wednesday, March 20th. Eight equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $192.05.

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.