New Century Financial Group LLC Lowers Stake in JPMorgan Chase & Co. (NYSE:JPM)

New Century Financial Group LLC lowered its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 14.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,290 shares of the financial services provider’s stock after selling 1,043 shares during the period. New Century Financial Group LLC’s holdings in JPMorgan Chase & Co. were worth $1,530,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of the stock. FCG Investment Co lifted its holdings in JPMorgan Chase & Co. by 5.6% during the fourth quarter. FCG Investment Co now owns 19,228 shares of the financial services provider’s stock worth $4,609,000 after buying an additional 1,021 shares during the period. Lifestyle Asset Management Inc. increased its position in shares of JPMorgan Chase & Co. by 4.4% during the fourth quarter. Lifestyle Asset Management Inc. now owns 1,083 shares of the financial services provider’s stock worth $260,000 after purchasing an additional 46 shares in the last quarter. Spinnaker Investment Group LLC increased its position in shares of JPMorgan Chase & Co. by 3.1% during the fourth quarter. Spinnaker Investment Group LLC now owns 5,049 shares of the financial services provider’s stock worth $1,210,000 after purchasing an additional 152 shares in the last quarter. Apeiron RIA LLC increased its position in shares of JPMorgan Chase & Co. by 6.6% during the fourth quarter. Apeiron RIA LLC now owns 2,798 shares of the financial services provider’s stock worth $671,000 after purchasing an additional 173 shares in the last quarter. Finally, Secure Asset Management LLC increased its position in shares of JPMorgan Chase & Co. by 0.5% during the fourth quarter. Secure Asset Management LLC now owns 15,493 shares of the financial services provider’s stock worth $3,714,000 after purchasing an additional 84 shares in the last quarter. Hedge funds and other institutional investors own 71.55% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on JPM. Barclays upped their price target on JPMorgan Chase & Co. from $304.00 to $330.00 and gave the stock an “overweight” rating in a research report on Thursday, January 16th. Evercore ISI upped their price target on JPMorgan Chase & Co. from $217.00 to $230.00 and gave the stock an “outperform” rating in a research report on Monday, October 14th. Truist Financial upped their target price on JPMorgan Chase & Co. from $260.00 to $268.00 and gave the company a “hold” rating in a research report on Thursday, January 16th. Wells Fargo & Company upped their target price on JPMorgan Chase & Co. from $240.00 to $270.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. Finally, Keefe, Bruyette & Woods upped their target price 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. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $251.78.

Insider Transactions at JPMorgan Chase & Co.

In related news, General Counsel Stacey Friedman sold 3,303 shares of the firm’s stock in a transaction dated Thursday, January 16th. The shares were sold at an average price of $253.94, for a total value of $838,763.82. Following the transaction, the general counsel now directly owns 47,620 shares of the company’s stock, valued at approximately $12,092,622.80. This trade represents a 6.49 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.79% of the company’s stock.

JPMorgan Chase & Co. Trading Up 0.4 %

JPM stock opened at $266.94 on Wednesday. The company’s 50-day simple moving average is $246.08 and its 200-day simple moving average is $226.92. 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. has a 52-week low of $171.30 and a 52-week high of $267.33. The firm has a market cap of $751.53 billion, a P/E ratio of 13.52, a PEG ratio of 2.83 and a beta of 1.11.

JPMorgan Chase & Co. (NYSE:JPM) last posted its earnings results on Wednesday, January 15th. The financial services provider reported $4.81 earnings per share (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 business had revenue of $42.77 billion for the quarter, compared to analyst estimates of $41.90 billion. During the same period in the prior year, the company posted $3.04 EPS. The company’s revenue for the quarter was up 10.9% on a year-over-year basis. As a group, equities analysts forecast that JPMorgan Chase & Co. will post 17.82 EPS for the current fiscal year.

JPMorgan Chase & Co. Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Monday, January 6th will be paid a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a dividend yield of 1.87%. The ex-dividend date is Monday, January 6th. JPMorgan Chase & Co.’s payout ratio is currently 25.33%.

About JPMorgan Chase & Co.

JPMorgan Chase & Co is a financial holding company, which engages in the provision of financial and investment banking services. The firm offers a range of investment banking products and services in all capital markets, including advising on corporate strategy and structure, capital raising in equity and debt markets, risk management, market making in cash securities and derivative instruments, and brokerage and research.