Private Management Group Inc. Has $52.50 Million Stock Holdings in JPMorgan Chase & Co. (NYSE:JPM)

Private Management Group Inc. cut its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 2.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 308,668 shares of the financial services provider’s stock after selling 9,090 shares during the quarter. JPMorgan Chase & Co. comprises approximately 2.0% of Private Management Group Inc.’s portfolio, making the stock its 5th biggest position. Private Management Group Inc.’s holdings in JPMorgan Chase & Co. were worth $52,504,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Etfidea LLC increased its holdings in shares of JPMorgan Chase & Co. by 5.4% during the fourth quarter. Etfidea LLC now owns 1,937 shares of the financial services provider’s stock valued at $329,000 after acquiring an additional 100 shares in the last quarter. TKG Advisors LLC increased its holdings in JPMorgan Chase & Co. by 97.6% in the 3rd quarter. TKG Advisors LLC now owns 13,205 shares of the financial services provider’s stock worth $1,915,000 after buying an additional 6,521 shares in the last quarter. Sutton Place Investors LLC increased its holdings in JPMorgan Chase & Co. by 179.5% in the 4th quarter. Sutton Place Investors LLC now owns 13,099 shares of the financial services provider’s stock worth $2,228,000 after buying an additional 8,412 shares in the last quarter. Alley Investment Management Company LLC raised its position in JPMorgan Chase & Co. by 0.4% in the 3rd quarter. Alley Investment Management Company LLC now owns 126,913 shares of the financial services provider’s stock worth $18,405,000 after buying an additional 530 shares during the last quarter. Finally, Allen Investment Management LLC lifted its stake in JPMorgan Chase & Co. by 15.8% during the 3rd quarter. Allen Investment Management LLC now owns 174,738 shares of the financial services provider’s stock valued at $25,341,000 after acquiring an additional 23,894 shares during the period. 71.55% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Royal Bank of Canada reissued an “outperform” rating and set a $185.00 price objective on shares of JPMorgan Chase & Co. in a report on Wednesday, March 20th. Oppenheimer dropped their price target on JPMorgan Chase & Co. from $219.00 to $217.00 and set an “outperform” rating on the stock in a research note on Monday, April 15th. Barclays upped their price objective on JPMorgan Chase & Co. from $186.00 to $212.00 and gave the company an “overweight” rating in a research report on Tuesday, January 2nd. Piper Sandler dropped their target price on JPMorgan Chase & Co. from $220.00 to $215.00 and set an “overweight” rating on the stock in a research report on Monday, April 15th. Finally, UBS Group reduced their price target on shares of JPMorgan Chase & Co. from $226.00 to $219.00 and set a “buy” rating for the company in a research report on Tuesday, April 16th. Eight investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, JPMorgan Chase & Co. currently has an average rating of “Moderate Buy” and an average price target of $192.05.

Insider Activity

In other news, CEO Jennifer Piepszak sold 1,648 shares of the firm’s stock in a transaction on Friday, February 16th. The shares were sold at an average price of $178.96, for a total transaction of $294,926.08. Following the sale, the chief executive officer now directly owns 32,819 shares in the company, valued at approximately $5,873,288.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Vice Chairman Peter Scher sold 1,810 shares of the firm’s stock in a transaction on Friday, February 16th. The shares were sold at an average price of $178.96, for a total transaction of $323,917.60. Following the sale, the insider now directly owns 44,956 shares in the company, valued at approximately $8,045,325.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Jennifer Piepszak sold 1,648 shares of the firm’s stock in a transaction on Friday, February 16th. The shares were sold at an average price of $178.96, for a total transaction of $294,926.08. Following the sale, the chief executive officer now owns 32,819 shares in the company, valued at $5,873,288.24. The disclosure for this sale can be found here. Insiders have sold 1,020,696 shares of company stock worth $186,794,151 in the last three months. Company insiders own 0.79% of the company’s stock.

JPMorgan Chase & Co. Stock Down 0.8 %

Shares of JPM stock opened at $191.81 on Wednesday. The company has a market capitalization of $550.90 billion, a price-to-earnings ratio of 11.58, a PEG ratio of 2.43 and a beta of 1.15. JPMorgan Chase & Co. has a one year low of $131.81 and a one year high of $200.94. The company’s fifty day moving average price is $190.88 and its 200-day moving average price is $171.56. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.92 and a quick ratio of 0.91.

JPMorgan Chase & Co. Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 30th. Stockholders of record on Friday, April 5th were given a dividend of $1.15 per share. This represents a $4.60 annualized dividend and a dividend yield of 2.40%. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.05. The ex-dividend date was Thursday, April 4th. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is presently 27.78%.

JPMorgan Chase & Co. 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.