Asset Dedication LLC Has $9.70 Million Stake in JPMorgan Chase & Co. (NYSE:JPM)

Asset Dedication LLC reduced its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 16.5% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 40,472 shares of the financial services provider’s stock after selling 7,975 shares during the quarter. JPMorgan Chase & Co. comprises 0.8% of Asset Dedication LLC’s portfolio, making the stock its 20th biggest holding. Asset Dedication LLC’s holdings in JPMorgan Chase & Co. were worth $9,702,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the business. Geode Capital Management LLC raised its stake in shares of JPMorgan Chase & Co. by 0.9% in the third quarter. Geode Capital Management LLC now owns 58,344,186 shares of the financial services provider’s stock valued at $12,258,346,000 after purchasing an additional 505,830 shares in the last quarter. Fisher Asset Management LLC increased its holdings in JPMorgan Chase & Co. by 31.7% in the 3rd quarter. Fisher Asset Management LLC now owns 16,784,272 shares of the financial services provider’s stock valued at $3,539,132,000 after buying an additional 4,043,841 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of JPMorgan Chase & Co. by 2.0% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 15,084,919 shares of the financial services provider’s stock valued at $3,180,806,000 after buying an additional 302,592 shares in the last quarter. Franklin Resources Inc. lifted 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, International Assets Investment Management LLC acquired a new stake in shares of JPMorgan Chase & Co. during the 3rd quarter valued at about $1,888,088,000. 71.55% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. Daiwa Capital Markets dropped their price target on shares of JPMorgan Chase & Co. from $240.00 to $235.00 and set an “overweight” rating for the company in a research report on Thursday, October 10th. Oppenheimer cut JPMorgan Chase & Co. from an “outperform” rating to a “market perform” rating in a report on Wednesday, November 20th. Baird R W lowered JPMorgan Chase & Co. from a “hold” rating to a “strong sell” rating in a research note on Thursday, November 7th. Piper Sandler increased their price objective on JPMorgan Chase & Co. from $240.00 to $275.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 3rd. Finally, Evercore ISI lifted their price objective on JPMorgan Chase & Co. from $217.00 to $230.00 and gave the company an “outperform” rating in a report on Monday, October 14th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $251.78.

Insider Activity at JPMorgan Chase & Co.

In related news, General Counsel Stacey Friedman sold 3,303 shares of the stock in a transaction that occurred on 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 in the company, valued at $12,092,622.80. This represents a 6.49 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.79% of the stock is owned by company insiders.

JPMorgan Chase & Co. Price Performance

Shares of JPM stock opened at $267.27 on Tuesday. JPMorgan Chase & Co. has a 1 year low of $172.62 and a 1 year high of $270.82. The company has a current ratio of 0.88, a quick ratio of 0.89 and a debt-to-equity ratio of 1.24. The firm’s 50 day moving average is $247.91 and its 200-day moving average is $228.49. The firm has a market capitalization of $752.47 billion, a price-to-earnings ratio of 13.54, a PEG ratio of 2.87 and a beta of 1.12.

JPMorgan Chase & Co. (NYSE:JPM) last posted its quarterly earnings data 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. The firm 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%. The business’s revenue for the quarter was up 10.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.04 EPS. Sell-side analysts forecast that JPMorgan Chase & Co. will post 17.82 EPS for the current fiscal year.

JPMorgan Chase & Co. Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Monday, January 6th were issued a $1.25 dividend. This represents a $5.00 annualized dividend and a yield of 1.87%. The ex-dividend date of this dividend was Monday, January 6th. JPMorgan Chase & Co.’s dividend payout ratio is 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.