Blodgett Wealth Advisors LLC Has $2.58 Million Position in JPMorgan Chase & Co. (NYSE:JPM)

Blodgett Wealth Advisors LLC reduced its position in shares of JPMorgan Chase & Co. (NYSE:JPM) by 4.4% in the fourth quarter, HoldingsChannel.com reports. The firm owned 10,762 shares of the financial services provider’s stock after selling 499 shares during the period. JPMorgan Chase & Co. comprises 2.0% of Blodgett Wealth Advisors LLC’s investment portfolio, making the stock its 9th largest position. Blodgett Wealth Advisors LLC’s holdings in JPMorgan Chase & Co. were worth $2,580,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Mizuho Securities Co. Ltd. purchased a new stake in shares of JPMorgan Chase & Co. in the 3rd quarter worth about $25,000. Catalyst Capital Advisors LLC bought a new stake in JPMorgan Chase & Co. during the third quarter worth about $27,000. New England Capital Financial Advisors LLC grew its holdings in 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 worth $38,000 after purchasing an additional 50 shares during the period. Carolina Wealth Advisors LLC increased its stake in shares of 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 valued at $40,000 after purchasing an additional 50 shares in the last quarter. Finally, Lowe Wealth Advisors LLC lifted its holdings in shares of JPMorgan Chase & Co. by 34.0% during the fourth quarter. Lowe Wealth Advisors LLC now owns 201 shares of the financial services provider’s stock valued at $48,000 after purchasing an additional 51 shares during the last quarter. 71.55% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, General Counsel Stacey Friedman sold 3,303 shares of the business’s stock in a transaction dated Thursday, January 16th. The stock was sold at an average price of $253.94, for a total transaction of $838,763.82. Following the completion of the transaction, the general counsel now directly owns 47,620 shares of the company’s stock, valued at approximately $12,092,622.80. The trade was a 6.49 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 0.79% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have commented on JPM. Truist Financial boosted their target price on JPMorgan Chase & Co. from $260.00 to $268.00 and gave the stock a “hold” rating in a report on Thursday, January 16th. Wells Fargo & Company increased their price objective on shares of JPMorgan Chase & Co. from $240.00 to $270.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. Royal Bank of Canada lifted their target price on shares of JPMorgan Chase & Co. from $211.00 to $230.00 and gave the stock an “outperform” rating in a report on Monday, October 14th. Bank of America upped their target price on shares of JPMorgan Chase & Co. from $260.00 to $280.00 and gave the stock a “buy” rating in a research note on Tuesday, January 7th. Finally, Wolfe Research raised 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. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $251.78.

JPMorgan Chase & Co. Price Performance

NYSE:JPM opened at $270.89 on Tuesday. JPMorgan Chase & Co. has a one year low of $172.62 and a one year high of $278.55. The stock has a market cap of $762.64 billion, a PE ratio of 13.72, a P/E/G ratio of 2.94 and a beta of 1.12. 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 50 day moving average price of $250.08 and a 200 day moving average price of $230.67.

JPMorgan Chase & Co. (NYSE:JPM) last released its quarterly earnings results on Wednesday, January 15th. The financial services provider reported $4.81 EPS for the quarter, beating the consensus estimate 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 for the quarter, compared to analyst estimates of $41.90 billion. During the same quarter in the previous year, the company earned $3.04 EPS. The business’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 18.05 EPS for the current fiscal year.

JPMorgan Chase & Co. Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Monday, January 6th were given a $1.25 dividend. This represents a $5.00 annualized dividend and a yield of 1.85%. The ex-dividend date of this dividend was Monday, January 6th. JPMorgan Chase & Co.’s dividend payout ratio is currently 25.33%.

JPMorgan Chase & Co. 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.