Sachetta LLC Reduces Stock Position in JPMorgan Chase & Co. (NYSE:JPM)

Sachetta LLC lessened its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 5.7% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 5,364 shares of the financial services provider’s stock after selling 322 shares during the quarter. Sachetta LLC’s holdings in JPMorgan Chase & Co. were worth $1,286,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of JPM. Harel Insurance Investments & Financial Services Ltd. raised its position in shares of JPMorgan Chase & Co. by 16.0% in the fourth quarter. Harel Insurance Investments & Financial Services Ltd. now owns 11,577 shares of the financial services provider’s stock worth $2,775,000 after buying an additional 1,595 shares in the last quarter. Midwest Financial Group LLC bought a new position in JPMorgan Chase & Co. in the 4th quarter worth about $220,000. CX Institutional raised its holdings in shares of JPMorgan Chase & Co. by 14.2% in the 4th quarter. CX Institutional now owns 23,537 shares of the financial services provider’s stock valued at $5,642,000 after acquiring an additional 2,925 shares in the last quarter. Rodgers & Associates LTD purchased a new position in shares of JPMorgan Chase & Co. during the fourth quarter worth about $203,000. Finally, Encompass More Asset Management increased its position in shares of JPMorgan Chase & Co. by 5.7% in the fourth quarter. Encompass More Asset Management now owns 3,149 shares of the financial services provider’s stock worth $755,000 after purchasing an additional 170 shares during the last quarter. 71.55% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have commented on JPM. Piper Sandler boosted their price target on shares of JPMorgan Chase & Co. from $240.00 to $275.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 3rd. UBS Group raised their price objective on JPMorgan Chase & Co. from $276.00 to $287.00 and gave the company a “buy” rating in a report on Thursday, January 16th. Wolfe Research upgraded shares of JPMorgan Chase & Co. from a “peer perform” rating to an “outperform” rating and set a $269.00 price target for the company in a research report on Friday, January 3rd. Citigroup increased 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. Finally, Bank of America lifted their price objective on JPMorgan Chase & Co. from $260.00 to $280.00 and gave the stock a “buy” rating in a research report on Tuesday, January 7th. 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 company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $251.78.

Insiders Place Their Bets

In related news, General Counsel Stacey Friedman sold 3,303 shares of the firm’s 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 sale, the general counsel now 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 sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.79% of the stock is owned by insiders.

JPMorgan Chase & Co. Price Performance

Shares of NYSE:JPM opened at $266.74 on Thursday. The company has a market capitalization of $750.96 billion, a PE ratio of 13.51, a PEG ratio of 2.83 and a beta of 1.11. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.88 and a quick ratio of 0.89. JPMorgan Chase & Co. has a 1-year low of $171.43 and a 1-year high of $270.68. The business has a fifty day moving average price of $246.56 and a 200-day moving average price of $227.36.

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, topping 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 company had revenue of $42.77 billion during the quarter, compared to analyst estimates of $41.90 billion. During the same period in the previous year, the business earned $3.04 EPS. The firm’s revenue for the quarter was up 10.9% on a year-over-year basis. As a group, equities analysts expect that JPMorgan Chase & Co. will post 17.82 EPS for the current fiscal year.

JPMorgan Chase & Co. Dividend Announcement

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. The ex-dividend date is Monday, January 6th. This represents a $5.00 annualized dividend and a yield of 1.87%. JPMorgan Chase & Co.’s payout ratio is 25.33%.

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.