OLD Point Trust & Financial Services N A Lowers Position in JPMorgan Chase & Co. (NYSE:JPM)

OLD Point Trust & Financial Services N A trimmed its position in shares of JPMorgan Chase & Co. (NYSE:JPM) by 2.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,506 shares of the financial services provider’s stock after selling 134 shares during the quarter. OLD Point Trust & Financial Services N A’s holdings in JPMorgan Chase & Co. were worth $1,080,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the company. Midwest Capital Advisors LLC purchased a new position in JPMorgan Chase & Co. during the fourth quarter worth approximately $43,000. Legacy Investment Solutions LLC purchased a new position in shares of JPMorgan Chase & Co. during the 3rd quarter valued at approximately $45,000. Collier Financial acquired a new stake in JPMorgan Chase & Co. in the 4th quarter valued at $45,000. Lowe Wealth Advisors LLC increased its holdings in JPMorgan Chase & Co. by 34.0% in the 4th quarter. Lowe Wealth Advisors LLC now owns 201 shares of the financial services provider’s stock worth $48,000 after acquiring an additional 51 shares in the last quarter. Finally, Kieckhefer Group LLC acquired a new position in JPMorgan Chase & Co. during the fourth quarter worth $50,000. 71.55% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on JPM. Keefe, Bruyette & Woods lifted their target price on shares of JPMorgan Chase & Co. from $257.00 to $264.00 and gave the company a “market perform” rating in a research report on Thursday, January 16th. Wolfe Research upgraded JPMorgan Chase & Co. from a “peer perform” rating to an “outperform” rating and set a $269.00 price objective on the stock in a report on Friday, January 3rd. Bank of America increased their target price on JPMorgan Chase & Co. from $260.00 to $280.00 and gave the company a “buy” rating in a report on Tuesday, January 7th. Truist Financial lifted their price target on JPMorgan Chase & Co. from $260.00 to $268.00 and gave the stock a “hold” rating in a research note on Thursday, January 16th. Finally, Robert W. Baird raised JPMorgan Chase & Co. from an “underperform” rating to a “neutral” rating and increased their price objective for the company from $215.00 to $220.00 in a research note on Friday, March 7th. Ten analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $252.89.

JPMorgan Chase & Co. Stock Down 1.1 %

Shares of NYSE JPM opened at $248.35 on Friday. The company has a market capitalization of $694.41 billion, a P/E ratio of 12.58, a P/E/G ratio of 2.83 and a beta of 1.10. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.88 and a quick ratio of 0.89. The company has a 50 day simple moving average of $257.88 and a 200-day simple moving average of $240.12. JPMorgan Chase & Co. has a 1 year low of $179.20 and a 1 year high of $280.25.

JPMorgan Chase & Co. (NYSE:JPM) last posted its earnings results 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 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 quarter in the previous year, the business earned $3.04 earnings per share. On average, equities research analysts predict that JPMorgan Chase & Co. will post 18.1 earnings per share for the current year.

JPMorgan Chase & Co. Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Friday, April 4th will be paid a dividend of $1.40 per share. This represents a $5.60 annualized dividend and a yield of 2.25%. The ex-dividend date of this dividend is Friday, April 4th. This is a positive change from JPMorgan Chase & Co.’s previous quarterly dividend of $1.25. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is 28.37%.

Insider Buying and Selling at JPMorgan Chase & Co.

In related news, COO Jennifer Piepszak sold 4,273 shares of the stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $269.85, for a total transaction of $1,153,069.05. Following the completion of the transaction, the chief operating officer now owns 54,469 shares of the company’s stock, valued at approximately $14,698,459.65. This trade represents a 7.27 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Troy L. Rohrbaugh sold 37,500 shares of the business’s stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $269.84, for a total value of $10,119,000.00. Following the completion of the sale, the chief executive officer now directly owns 158,381 shares in the company, valued at approximately $42,737,529.04. The trade was a 19.14 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 76,848 shares of company stock worth $19,987,908 over the last three months. Insiders own 0.79% of the company’s stock.

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.