Institute for Wealth Management LLC. Sells 356 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Institute for Wealth Management LLC. lowered its stake in JPMorgan Chase & Co. (NYSE:JPM) by 2.2% in the 4th quarter, HoldingsChannel.com reports. The fund owned 15,957 shares of the financial services provider’s stock after selling 356 shares during the quarter. Institute for Wealth Management LLC.’s holdings in JPMorgan Chase & Co. were worth $3,825,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the stock. Hansen & Associates Financial Group Inc. bought a new position in JPMorgan Chase & Co. in the 4th quarter valued at $7,111,000. Integris Wealth Management LLC increased its stake in shares of JPMorgan Chase & Co. by 8.6% during the 4th quarter. Integris Wealth Management LLC now owns 2,905 shares of the financial services provider’s stock worth $696,000 after purchasing an additional 230 shares during the last quarter. AA Financial Advisors LLC lifted its stake in JPMorgan Chase & Co. by 3.1% in the fourth quarter. AA Financial Advisors LLC now owns 10,063 shares of the financial services provider’s stock valued at $2,412,000 after purchasing an additional 300 shares during the last quarter. Hunter Associates Investment Management LLC grew its stake in shares of JPMorgan Chase & Co. by 2.3% during the 4th quarter. Hunter Associates Investment Management LLC now owns 10,842 shares of the financial services provider’s stock worth $2,603,000 after acquiring an additional 239 shares during the period. Finally, Heritage Financial Services LLC increased its stake in shares of JPMorgan Chase & Co. by 5.3% in the fourth quarter. Heritage Financial Services LLC now owns 2,663 shares of the financial services provider’s stock worth $638,000 after purchasing an additional 134 shares in the last quarter. Institutional investors and hedge funds own 71.55% of the company’s stock.

Insider Buying and Selling

In related news, General Counsel Stacey Friedman sold 3,303 shares of the firm’s stock in a transaction on Thursday, January 16th. The stock was sold at an average price of $253.94, for a total value of $838,763.82. Following the completion of the transaction, the general counsel now owns 47,620 shares in the company, valued at $12,092,622.80. This trade represents a 6.49 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.79% of the stock is currently owned by insiders.

JPMorgan Chase & Co. Trading Up 2.4 %

JPM opened at $276.82 on Friday. The firm has a market cap of $779.34 billion, a P/E ratio of 14.02, a P/E/G ratio of 2.87 and a beta of 1.12. The company has a current ratio of 0.88, a quick ratio of 0.89 and a debt-to-equity ratio of 1.24. The stock has a 50-day moving average of $249.03 and a 200 day moving average of $229.59. JPMorgan Chase & Co. has a 12 month low of $172.62 and a 12 month high of $276.98.

JPMorgan Chase & Co. (NYSE:JPM) last issued its quarterly earnings results on Wednesday, January 15th. The financial services provider reported $4.81 earnings per share for the quarter, topping the consensus estimate of $4.03 by $0.78. The firm had revenue of $42.77 billion for the quarter, compared to the consensus estimate of $41.90 billion. JPMorgan Chase & Co. had a return on equity of 16.99% and a net margin of 20.96%. The company’s revenue for the quarter was up 10.9% on a year-over-year basis. During the same period in the prior year, the business posted $3.04 earnings per share. As a group, research analysts forecast 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 was paid on Friday, January 31st. Investors of record on Monday, January 6th were paid a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a yield of 1.81%. The ex-dividend date of this dividend was Monday, January 6th. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is presently 25.33%.

Wall Street Analyst Weigh In

Several research firms have issued reports on JPM. Baird R W downgraded JPMorgan Chase & Co. from a “hold” rating to a “strong sell” rating in a research report on Thursday, November 7th. Truist Financial increased 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, January 16th. Barclays boosted their price objective on shares of JPMorgan Chase & Co. from $304.00 to $330.00 and gave the company an “overweight” rating in a research note on Thursday, January 16th. Robert W. Baird lowered JPMorgan Chase & Co. from a “neutral” rating to an “underperform” rating and set a $200.00 price objective for the company. in a research note on Thursday, November 7th. Finally, Daiwa Capital Markets dropped their price objective on shares of JPMorgan Chase & Co. from $240.00 to $235.00 and set an “overweight” rating for the company in a report on Thursday, October 10th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $251.78.

About JPMorgan Chase & Co.

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.