Pitcairn Co. Sells 3,180 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Pitcairn Co. lessened its position in JPMorgan Chase & Co. (NYSE:JPM) by 7.0% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 42,151 shares of the financial services provider’s stock after selling 3,180 shares during the period. JPMorgan Chase & Co. accounts for 0.6% of Pitcairn Co.’s investment portfolio, making the stock its 21st biggest position. Pitcairn Co.’s holdings in JPMorgan Chase & Co. were worth $10,104,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the company. DDD Partners LLC lifted its holdings in shares of JPMorgan Chase & Co. by 2.8% during the fourth quarter. DDD Partners LLC now owns 1,416 shares of the financial services provider’s stock valued at $339,000 after purchasing an additional 38 shares in the last quarter. Blue Bell Private Wealth Management LLC raised its position in JPMorgan Chase & Co. by 1.5% in the 4th quarter. Blue Bell Private Wealth Management LLC now owns 2,594 shares of the financial services provider’s stock worth $622,000 after buying an additional 38 shares during the last quarter. Rappaport Reiches Capital Management LLC lifted its stake in JPMorgan Chase & Co. by 3.8% during the 4th quarter. Rappaport Reiches Capital Management LLC now owns 1,068 shares of the financial services provider’s stock valued at $256,000 after acquiring an additional 39 shares during the period. Yoder Wealth Management Inc. boosted its holdings in shares of JPMorgan Chase & Co. by 2.8% during the 4th quarter. Yoder Wealth Management Inc. now owns 1,436 shares of the financial services provider’s stock valued at $344,000 after acquiring an additional 39 shares during the last quarter. Finally, Almanack Investment Partners LLC. grew its stake in shares of JPMorgan Chase & Co. by 0.8% in the fourth quarter. Almanack Investment Partners LLC. now owns 5,143 shares of the financial services provider’s stock worth $1,233,000 after acquiring an additional 39 shares during the period. Hedge funds and other institutional investors own 71.55% of the company’s stock.

JPMorgan Chase & Co. Trading Down 8.1 %

Shares of JPM opened at $210.09 on Friday. The firm has a market cap of $587.43 billion, a P/E ratio of 10.64, a price-to-earnings-growth ratio of 2.83 and a beta of 1.01. 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 $179.20 and a 1 year high of $280.25. The company has a 50 day simple moving average of $254.71 and a two-hundred day simple moving average of $241.51.

JPMorgan Chase & Co. (NYSE:JPM) last issued its earnings results 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. The firm had revenue of $42.77 billion during the quarter, compared to analyst estimates of $41.90 billion. JPMorgan Chase & Co. had a net margin of 20.96% and a return on equity of 16.99%. JPMorgan Chase & Co.’s revenue for the quarter was up 10.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $3.04 earnings per share. On average, equities analysts expect that JPMorgan Chase & Co. will post 18.1 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Friday, April 4th will be issued a $1.40 dividend. This represents a $5.60 annualized dividend and a dividend yield of 2.67%. This is a boost from JPMorgan Chase & Co.’s previous quarterly dividend of $1.25. The ex-dividend date of this dividend is Friday, April 4th. JPMorgan Chase & Co.’s payout ratio is 28.37%.

Insider Buying and Selling

In related news, COO Jennifer Piepszak sold 4,272 shares of the company’s stock in a transaction on Monday, March 24th. The shares were sold at an average price of $247.03, for a total transaction of $1,055,312.16. Following the sale, the chief operating officer now owns 50,197 shares of the company’s stock, valued at $12,400,164.91. This represents a 7.84 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Robin Leopold sold 1,250 shares of JPMorgan Chase & Co. stock in a transaction on Monday, March 24th. The stock was sold at an average price of $246.92, for a total transaction of $308,650.00. Following the completion of the transaction, the insider now directly owns 49,127 shares of the company’s stock, valued at $12,130,438.84. The trade was a 2.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 76,848 shares of company stock worth $19,987,908. Corporate insiders own 0.79% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on JPM. Keefe, Bruyette & Woods increased their price objective 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. Evercore ISI dropped their price target on JPMorgan Chase & Co. from $273.00 to $265.00 and set an “outperform” rating on the stock in a research note on Tuesday, April 1st. Truist Financial reduced their price objective on JPMorgan Chase & Co. from $268.00 to $264.00 and set a “hold” rating for the company in a research report on Friday. Bank of America dropped their target price on JPMorgan Chase & Co. from $285.00 to $284.00 and set a “buy” rating on the stock in a research report on Wednesday. Finally, Barclays upped their price target on shares of JPMorgan Chase & Co. from $304.00 to $330.00 and gave the company an “overweight” rating in a research report on Thursday, January 16th. Ten investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $254.83.

JPMorgan Chase & Co. Company Profile

JPMorgan Chase & Co is a financial holding company, which engages in the provision of financial and investment banking services. It focuses on investment banking, financial services for consumers and small businesses, commercial banking, financial transaction processing, and asset management. It operates through the following segments: Consumer and Community Banking (CCB), Commercial and Investment Bank (CIB), Asset and Wealth Management (AWM), and Corporate.