Clear Harbor Asset Management LLC Cuts Stock Holdings in JPMorgan Chase & Co. (NYSE:JPM)

Clear Harbor Asset Management LLC lessened its position in shares of JPMorgan Chase & Co. (NYSE:JPM) by 5.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 110,412 shares of the financial services provider’s stock after selling 6,483 shares during the period. JPMorgan Chase & Co. comprises 2.1% of Clear Harbor Asset Management LLC’s holdings, making the stock its 7th largest position. Clear Harbor Asset Management LLC’s holdings in JPMorgan Chase & Co. were worth $26,467,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Mizuho Securities Co. Ltd. acquired a new stake in JPMorgan Chase & Co. in the 3rd quarter valued at approximately $25,000. Catalyst Capital Advisors LLC acquired a new position in JPMorgan Chase & Co. during the 3rd quarter worth approximately $27,000. West Financial Advisors LLC bought a new position in shares of JPMorgan Chase & Co. during the 3rd quarter worth approximately $37,000. New England Capital Financial Advisors LLC raised its holdings in shares of JPMorgan Chase & Co. by 38.5% in the third quarter. New England Capital Financial Advisors LLC now owns 180 shares of the financial services provider’s stock valued at $38,000 after purchasing an additional 50 shares during the last quarter. Finally, Carolina Wealth Advisors LLC lifted its position in shares of JPMorgan Chase & Co. by 36.0% in the third quarter. Carolina Wealth Advisors LLC now owns 189 shares of the financial services provider’s stock worth $40,000 after purchasing an additional 50 shares in the last quarter. Institutional investors and hedge funds own 71.55% of the company’s stock.

Insider Activity

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

JPMorgan Chase & Co. Stock Down 0.5 %

JPM opened at $264.66 on Friday. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.89 and a current ratio of 0.88. The stock has a fifty day moving average of $245.28 and a 200-day moving average of $225.83. JPMorgan Chase & Co. has a fifty-two week low of $170.90 and a fifty-two week high of $267.10. The company has a market capitalization of $745.09 billion, a P/E ratio of 13.41, a P/E/G ratio of 2.83 and a beta of 1.11.

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, beating analysts’ consensus estimates 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 firm had revenue of $42.77 billion during the quarter, compared to the consensus estimate of $41.90 billion. During the same quarter in the previous year, the firm posted $3.04 EPS. The business’s revenue for the quarter was up 10.9% compared to the same quarter last year. On average, equities analysts expect that JPMorgan Chase & Co. will post 17.82 EPS for the current year.

JPMorgan Chase & Co. Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Monday, January 6th will be issued a $1.25 dividend. The ex-dividend date of this dividend is Monday, January 6th. This represents a $5.00 annualized dividend and a yield of 1.89%. JPMorgan Chase & Co.’s dividend payout ratio is presently 25.33%.

Wall Street Analyst Weigh In

JPM has been the topic of several recent research reports. Baird R W lowered shares of JPMorgan Chase & Co. from a “hold” rating to a “strong sell” rating in a research note on Thursday, November 7th. Keefe, Bruyette & Woods upped their target price on JPMorgan Chase & Co. from $257.00 to $264.00 and gave the stock a “market perform” rating in a report on Thursday, January 16th. Truist Financial raised their price target on JPMorgan Chase & Co. from $260.00 to $268.00 and gave the company a “hold” rating in a research note on Thursday, January 16th. Citigroup upped their price objective on JPMorgan Chase & Co. from $215.00 to $250.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 19th. Finally, UBS Group raised their target price on shares of JPMorgan Chase & Co. from $276.00 to $287.00 and gave the company a “buy” rating in a research note on Thursday, January 16th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, JPMorgan Chase & Co. presently has an average rating of “Hold” and a consensus target price of $251.78.

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.