Wallington Asset Management LLC Has $1.18 Million Position in JPMorgan Chase & Co. (NYSE:JPM)

Wallington Asset Management LLC cut its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 1.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 4,923 shares of the financial services provider’s stock after selling 60 shares during the quarter. Wallington Asset Management LLC’s holdings in JPMorgan Chase & Co. were worth $1,180,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the business. Geode Capital Management LLC boosted its position in 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 valued at $12,258,346,000 after buying an additional 505,830 shares during the last quarter. Fisher Asset Management LLC lifted its stake in shares of JPMorgan Chase & Co. by 31.7% during the third 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 acquiring an additional 4,043,841 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in JPMorgan Chase & Co. by 2.0% in the third 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 acquiring an additional 302,592 shares during the last quarter. Franklin Resources Inc. increased its position in JPMorgan Chase & Co. by 7.2% in the third quarter. Franklin Resources Inc. now owns 15,073,193 shares of the financial services provider’s stock worth $3,338,955,000 after purchasing an additional 1,016,289 shares during the period. Finally, International Assets Investment Management LLC bought a new stake in JPMorgan Chase & Co. during the 3rd quarter worth about $1,888,088,000. 71.55% of the stock is owned by institutional investors.

JPMorgan Chase & Co. Stock Performance

Shares of JPM stock opened at $259.46 on Tuesday. The firm has a market cap of $730.47 billion, a PE ratio of 14.44, a P/E/G ratio of 3.16 and a beta of 1.11. JPMorgan Chase & Co. has a 12 month low of $165.24 and a 12 month high of $260.62. The company’s fifty day simple moving average is $243.50 and its 200-day simple moving average is $224.52. 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. (NYSE:JPM) last announced its quarterly earnings data on Wednesday, January 15th. The financial services provider reported $4.81 earnings per share for the quarter, beating the consensus estimate of $4.03 by $0.78. JPMorgan Chase & Co. had a return on equity of 16.71% and a net margin of 19.64%. The company had revenue of $42.77 billion during the quarter, compared to analysts’ expectations of $41.90 billion. During the same quarter last year, the company earned $3.04 EPS. JPMorgan Chase & Co.’s revenue for the quarter was up 10.9% compared to the same quarter last year. Equities research analysts expect that JPMorgan Chase & Co. will post 17.46 EPS for the current fiscal year.

JPMorgan Chase & Co. Dividend Announcement

The business also recently disclosed 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 dividend on an annualized basis and a dividend yield of 1.93%. The ex-dividend date of this dividend is Monday, January 6th. JPMorgan Chase & Co.’s dividend payout ratio is currently 27.82%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on JPM. Wells Fargo & Company raised their target price on shares of JPMorgan Chase & Co. from $240.00 to $270.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. Citigroup lifted their target price on shares of JPMorgan Chase & Co. from $215.00 to $250.00 and gave the stock a “neutral” rating in a report on Tuesday, November 19th. Barclays increased their price target on JPMorgan Chase & Co. from $304.00 to $330.00 and gave the company an “overweight” rating in a research note on Thursday, January 16th. Piper Sandler upped their price objective on JPMorgan Chase & Co. from $240.00 to $275.00 and gave the company an “overweight” rating in a report on Tuesday, December 3rd. Finally, Bank of America increased their target price on JPMorgan Chase & Co. from $260.00 to $280.00 and gave the company a “buy” rating in a research note on Tuesday, January 7th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $251.78.

Insider Activity

In other JPMorgan Chase & Co. news, General Counsel Stacey Friedman sold 3,303 shares of the company’s stock in a transaction on Thursday, January 16th. The shares were sold at an average price of $253.94, for a total transaction of $838,763.82. Following the sale, the general counsel now directly owns 47,620 shares of the company’s stock, valued at approximately $12,092,622.80. This represents a 6.49 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.79% of the stock is currently owned by insiders.

JPMorgan Chase & Co. Company 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.