Manitou Investment Management Ltd. Has $26.68 Million Stake in JPMorgan Chase & Co. (NYSE:JPM)

Manitou Investment Management Ltd. lowered its stake in JPMorgan Chase & Co. (NYSE:JPM) by 20.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 111,309 shares of the financial services provider’s stock after selling 28,906 shares during the period. JPMorgan Chase & Co. accounts for approximately 5.3% of Manitou Investment Management Ltd.’s holdings, making the stock its 9th biggest holding. Manitou Investment Management Ltd.’s holdings in JPMorgan Chase & Co. were worth $26,682,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the stock. Mizuho Securities Co. Ltd. bought a new position in JPMorgan Chase & Co. in the third quarter worth $25,000. Catalyst Capital Advisors LLC purchased a new stake in shares of JPMorgan Chase & Co. in the 3rd quarter worth about $27,000. West Financial Advisors LLC bought a new position in shares of JPMorgan Chase & Co. in the 3rd quarter worth about $37,000. New England Capital Financial Advisors LLC lifted its position in JPMorgan Chase & Co. by 38.5% during the 3rd quarter. New England Capital Financial Advisors LLC now owns 180 shares of the financial services provider’s stock valued at $38,000 after acquiring an additional 50 shares during the period. Finally, Carolina Wealth Advisors LLC boosted its stake in JPMorgan Chase & Co. by 36.0% during the third quarter. Carolina Wealth Advisors LLC now owns 189 shares of the financial services provider’s stock worth $40,000 after acquiring an additional 50 shares in the last quarter. 71.55% of the stock is owned by hedge funds and other institutional investors.

JPMorgan Chase & Co. Price Performance

Shares of JPM opened at $266.94 on Wednesday. The firm has a fifty day simple moving average of $246.08 and a two-hundred day simple moving average of $226.92. The firm has a market cap of $751.53 billion, a PE ratio of 13.52, a P/E/G ratio of 2.83 and a beta of 1.11. The company has a current ratio of 0.88, a quick ratio of 0.89 and a debt-to-equity ratio of 1.24. JPMorgan Chase & Co. has a 1-year low of $171.30 and a 1-year high of $267.33.

JPMorgan Chase & Co. (NYSE:JPM) last posted its quarterly earnings data 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. The company had revenue of $42.77 billion during the quarter, compared to analysts’ expectations of $41.90 billion. JPMorgan Chase & Co. had a return on equity of 16.99% and a net margin of 20.96%. JPMorgan Chase & Co.’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 earnings per share. On average, equities analysts anticipate that JPMorgan Chase & Co. will post 17.82 EPS for the current year.

JPMorgan Chase & Co. Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Monday, January 6th will be issued a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a dividend yield of 1.87%. The ex-dividend date of this dividend is Monday, January 6th. JPMorgan Chase & Co.’s payout ratio is 25.33%.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on JPM shares. Bank of America raised their target price on shares of JPMorgan Chase & Co. from $260.00 to $280.00 and gave the company a “buy” rating in a research note on Tuesday, January 7th. Citigroup lifted their price objective on JPMorgan Chase & Co. from $215.00 to $250.00 and gave the company a “neutral” rating in a research note on Tuesday, November 19th. Piper Sandler boosted their target price on JPMorgan Chase & Co. from $240.00 to $275.00 and gave the stock an “overweight” rating in a report on Tuesday, December 3rd. Robert W. Baird downgraded JPMorgan Chase & Co. from a “neutral” rating to an “underperform” rating and set a $200.00 price target for the company. in a report on Thursday, November 7th. Finally, Keefe, Bruyette & Woods upped their price target on shares of JPMorgan Chase & Co. from $257.00 to $264.00 and gave the stock a “market perform” rating in a research note on Thursday, January 16th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $251.78.

Insider Activity at JPMorgan Chase & Co.

In other JPMorgan Chase & Co. 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 approximately $12,092,622.80. This trade represents a 6.49 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.79% of the stock is currently owned by company insiders.

JPMorgan Chase & Co. Company Profile

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.