Edge Wealth Management LLC Sells 1,239 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Edge Wealth Management LLC lessened its position in JPMorgan Chase & Co. (NYSE:JPM) by 1.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 89,382 shares of the financial services provider’s stock after selling 1,239 shares during the period. JPMorgan Chase & Co. accounts for about 4.3% of Edge Wealth Management LLC’s portfolio, making the stock its 7th biggest holding. Edge Wealth Management LLC’s holdings in JPMorgan Chase & Co. were worth $21,426,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in JPM. Ullmann Wealth Partners Group LLC raised its holdings in JPMorgan Chase & Co. by 1.5% in the 4th quarter. Ullmann Wealth Partners Group LLC now owns 15,192 shares of the financial services provider’s stock valued at $3,642,000 after buying an additional 227 shares during the last quarter. Cypress Wealth Services LLC raised its stake in shares of JPMorgan Chase & Co. by 5.4% during the fourth quarter. Cypress Wealth Services LLC now owns 10,528 shares of the financial services provider’s stock valued at $2,524,000 after acquiring an additional 544 shares during the last quarter. Capital Advisors Wealth Management LLC lifted its holdings in shares of JPMorgan Chase & Co. by 20.5% during the fourth quarter. Capital Advisors Wealth Management LLC now owns 10,219 shares of the financial services provider’s stock worth $2,450,000 after purchasing an additional 1,741 shares during the period. Retireful LLC bought a new stake in shares of JPMorgan Chase & Co. in the fourth quarter worth $329,000. Finally, JGP Wealth Management LLC increased its holdings in JPMorgan Chase & Co. by 0.7% in the fourth quarter. JGP Wealth Management LLC now owns 92,387 shares of the financial services provider’s stock valued at $22,146,000 after purchasing an additional 631 shares during the period. 71.55% of the stock is owned by institutional investors and hedge funds.

JPMorgan Chase & Co. Trading Up 2.0 %

NYSE JPM opened at $259.46 on Friday. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 1.27. JPMorgan Chase & Co. has a 52 week low of $165.24 and a 52 week high of $260.62. The business has a 50 day moving average price of $243.50 and a 200-day moving average price of $224.30. The company has a market cap of $730.47 billion, a price-to-earnings ratio of 14.44, a P/E/G ratio of 3.16 and a beta of 1.11.

JPMorgan Chase & Co. (NYSE:JPM) last announced its quarterly earnings results on Wednesday, January 15th. The financial services provider reported $4.81 EPS for the quarter, beating analysts’ consensus estimates of $4.03 by $0.78. JPMorgan Chase & Co. had a net margin of 19.64% and a return on equity of 16.71%. The business had revenue of $42.77 billion during the quarter, compared to analyst estimates of $41.90 billion. During the same quarter in the previous year, the business posted $3.04 EPS. JPMorgan Chase & Co.’s quarterly revenue was up 10.9% on a year-over-year basis. As a group, equities analysts expect that JPMorgan Chase & Co. will post 17.46 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Monday, January 6th will be given a $1.25 dividend. The ex-dividend date is Monday, January 6th. This represents a $5.00 annualized dividend and a yield of 1.93%. JPMorgan Chase & Co.’s payout ratio is 27.82%.

Insider Buying and Selling at JPMorgan Chase & Co.

In related news, General Counsel Stacey Friedman sold 3,303 shares of JPMorgan Chase & Co. stock in a transaction that occurred on Thursday, January 16th. The stock was sold at an average price of $253.94, for a total transaction of $838,763.82. Following the transaction, the general counsel now owns 47,620 shares of the company’s stock, valued at $12,092,622.80. The trade was a 6.49 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.79% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have commented on JPM shares. Barclays upped their price target on JPMorgan Chase & Co. from $304.00 to $330.00 and gave the company an “overweight” rating in a research report on Thursday. Truist Financial raised their price target on shares of JPMorgan Chase & Co. from $260.00 to $268.00 and gave the stock a “hold” rating in a report on Thursday. Wolfe Research raised shares of JPMorgan Chase & Co. from a “peer perform” rating to an “outperform” rating and set a $269.00 price objective on the stock in a research note on Friday, January 3rd. Oppenheimer lowered shares of JPMorgan Chase & Co. from an “outperform” rating to a “market perform” rating in a report on Wednesday, November 20th. Finally, Keefe, Bruyette & Woods upped their price target on shares of JPMorgan Chase & Co. from $257.00 to $264.00 and gave the company a “market perform” rating in a research report on Thursday. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, JPMorgan Chase & Co. has a consensus rating of “Hold” and an average target price of $251.78.

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.