Trust Co. of Virginia VA Reduces Position in JPMorgan Chase & Co. (NYSE:JPM)

Trust Co. of Virginia VA cut its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 2.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 102,120 shares of the financial services provider’s stock after selling 3,101 shares during the quarter. JPMorgan Chase & Co. comprises approximately 1.8% of Trust Co. of Virginia VA’s investment portfolio, making the stock its 13th biggest holding. Trust Co. of Virginia VA’s holdings in JPMorgan Chase & Co. were worth $17,371,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the business. Pinion Investment Advisors LLC boosted its holdings in JPMorgan Chase & Co. by 21.8% in the fourth quarter. Pinion Investment Advisors LLC now owns 8,629 shares of the financial services provider’s stock valued at $1,468,000 after purchasing an additional 1,547 shares during the last quarter. WESPAC Advisors SoCal LLC boosted its holdings in JPMorgan Chase & Co. by 1.5% in the fourth quarter. WESPAC Advisors SoCal LLC now owns 46,999 shares of the financial services provider’s stock valued at $7,995,000 after purchasing an additional 710 shares during the last quarter. Meeder Asset Management Inc. boosted its holdings in JPMorgan Chase & Co. by 3.4% in the fourth quarter. Meeder Asset Management Inc. now owns 7,164 shares of the financial services provider’s stock valued at $1,219,000 after purchasing an additional 233 shares during the last quarter. Meeder Advisory Services Inc. boosted its holdings in JPMorgan Chase & Co. by 1.1% in the fourth quarter. Meeder Advisory Services Inc. now owns 47,769 shares of the financial services provider’s stock valued at $8,126,000 after purchasing an additional 504 shares during the last quarter. Finally, Blue Bell Private Wealth Management LLC boosted its holdings in JPMorgan Chase & Co. by 9.3% in the fourth quarter. Blue Bell Private Wealth Management LLC now owns 2,952 shares of the financial services provider’s stock valued at $502,000 after purchasing an additional 251 shares during the last quarter. 71.55% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. Barclays increased their target price on shares of JPMorgan Chase & Co. from $186.00 to $212.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 2nd. Keefe, Bruyette & Woods increased their target price on shares of JPMorgan Chase & Co. from $182.00 to $195.00 and gave the stock a “market perform” rating in a research note on Friday, April 5th. The Goldman Sachs Group reissued a “buy” rating on shares of JPMorgan Chase & Co. in a research note on Thursday, February 1st. Piper Sandler increased their target price on shares of JPMorgan Chase & Co. from $190.00 to $200.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 16th. Finally, Oppenheimer lowered their target price on shares of JPMorgan Chase & Co. from $238.00 to $219.00 and set an “outperform” rating on the stock in a research note on Tuesday, March 19th. Eight investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $189.11.

JPMorgan Chase & Co. Trading Down 6.5 %

JPM opened at $182.79 on Friday. The company has a debt-to-equity ratio of 1.30, a current ratio of 0.91 and a quick ratio of 0.91. The company’s 50 day simple moving average is $188.11 and its two-hundred day simple moving average is $167.77. JPMorgan Chase & Co. has a 1-year low of $126.83 and a 1-year high of $200.94. The firm has a market capitalization of $524.99 billion, a price-to-earnings ratio of 11.27, a price-to-earnings-growth ratio of 2.48 and a beta of 1.15.

JPMorgan Chase & Co. (NYSE:JPM) last released its earnings results on Friday, January 12th. The financial services provider reported $3.04 earnings per share for the quarter, missing analysts’ consensus estimates of $3.73 by ($0.69). JPMorgan Chase & Co. had a return on equity of 17.80% and a net margin of 20.70%. The business had revenue of $38.57 billion during the quarter, compared to analysts’ expectations of $39.73 billion. During the same period last year, the business earned $3.57 earnings per share. The company’s revenue for the quarter was up 11.7% compared to the same quarter last year. Analysts expect that JPMorgan Chase & Co. will post 15.78 EPS for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Friday, April 5th will be paid a $1.15 dividend. This represents a $4.60 dividend on an annualized basis and a yield of 2.52%. This is a positive change from JPMorgan Chase & Co.’s previous quarterly dividend of $1.05. The ex-dividend date of this dividend is Thursday, April 4th. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is 28.36%.

Insider Transactions at JPMorgan Chase & Co.

In other news, insider Ashley Bacon sold 3,368 shares of the firm’s stock in a transaction that occurred on Tuesday, January 16th. The shares were sold at an average price of $166.73, for a total transaction of $561,546.64. Following the completion of the sale, the insider now owns 205,461 shares in the company, valued at approximately $34,256,512.53. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, General Counsel Stacey Friedman sold 6,030 shares of the firm’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $182.73, for a total transaction of $1,101,861.90. Following the completion of the sale, the general counsel now owns 59,456 shares in the company, valued at approximately $10,864,394.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Ashley Bacon sold 3,368 shares of the firm’s stock in a transaction that occurred on Tuesday, January 16th. The stock was sold at an average price of $166.73, for a total transaction of $561,546.64. Following the sale, the insider now owns 205,461 shares of the company’s stock, valued at approximately $34,256,512.53. The disclosure for this sale can be found here. Insiders sold 849,303 shares of company stock worth $155,107,447 in the last 90 days. Insiders own 0.79% of the company’s stock.

JPMorgan Chase & Co. Company Profile

JPMorgan Chase & Co operates as a financial services company worldwide. It operates through four segments: Consumer & Community Banking (CCB), Corporate & Investment Bank (CIB), Commercial Banking (CB), and Asset & Wealth Management (AWM). The CCB segment offers deposit, investment and lending products, cash management, and payments and services; mortgage origination and servicing activities; residential mortgages and home equity loans; and credit cards, auto loans, leases, and travel services to consumers and small businesses through bank branches, ATMs, and digital and telephone banking.