Resolute Wealth Strategies LLC Trims Holdings in JPMorgan Chase & Co. (NYSE:JPM)

Resolute Wealth Strategies LLC cut its position in shares of JPMorgan Chase & Co. (NYSE:JPM) by 7.8% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 14,105 shares of the financial services provider’s stock after selling 1,191 shares during the period. JPMorgan Chase & Co. comprises 1.6% of Resolute Wealth Strategies LLC’s portfolio, making the stock its 18th biggest position. Resolute Wealth Strategies LLC’s holdings in JPMorgan Chase & Co. were worth $2,399,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in JPM. Curbstone Financial Management Corp lifted its stake in JPMorgan Chase & Co. by 0.3% in the fourth quarter. Curbstone Financial Management Corp now owns 23,930 shares of the financial services provider’s stock worth $4,070,000 after acquiring an additional 60 shares during the period. Grey Street Capital LLC increased its position in JPMorgan Chase & Co. by 0.9% during the 4th quarter. Grey Street Capital LLC now owns 6,994 shares of the financial services provider’s stock valued at $1,190,000 after purchasing an additional 60 shares during the period. Financial Management Network Inc. lifted its position in shares of JPMorgan Chase & Co. by 0.8% in the 4th quarter. Financial Management Network Inc. now owns 7,523 shares of the financial services provider’s stock worth $1,296,000 after purchasing an additional 61 shares during the period. Sendero Wealth Management LLC lifted its position in shares of JPMorgan Chase & Co. by 1.1% in the 4th quarter. Sendero Wealth Management LLC now owns 5,811 shares of the financial services provider’s stock worth $988,000 after purchasing an additional 62 shares during the period. Finally, Raleigh Capital Management Inc. boosted its stake in shares of JPMorgan Chase & Co. by 0.8% during the third quarter. Raleigh Capital Management Inc. now owns 8,151 shares of the financial services provider’s stock valued at $1,182,000 after purchasing an additional 64 shares in the last quarter. 71.55% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages recently commented on JPM. Royal Bank of Canada reissued an “outperform” rating and issued a $185.00 price objective on shares of JPMorgan Chase & Co. in a research note on Wednesday, March 20th. Piper Sandler decreased their price objective on JPMorgan Chase & Co. from $220.00 to $215.00 and set an “overweight” rating for the company in a research note on Monday, April 15th. Evercore ISI lifted their target price on JPMorgan Chase & Co. from $188.00 to $210.00 and gave the company an “outperform” rating in a research note on Thursday, April 4th. UBS Group reduced their price objective on shares of JPMorgan Chase & Co. from $226.00 to $219.00 and set a “buy” rating for the company in a research note on Tuesday, April 16th. Finally, Wells Fargo & Company raised their target price on shares of JPMorgan Chase & Co. from $200.00 to $220.00 and gave the company an “overweight” rating in a research note on Wednesday, March 20th. Eight research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $192.05.

JPMorgan Chase & Co. Trading Up 1.0 %

JPMorgan Chase & Co. stock opened at $197.53 on Friday. The firm has a market cap of $567.24 billion, a PE ratio of 11.93, a P/E/G ratio of 2.38 and a beta of 1.13. JPMorgan Chase & Co. has a 12 month low of $133.13 and a 12 month high of $200.94. The stock’s 50 day simple moving average is $191.97 and its two-hundred day simple moving average is $173.32. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 1.29.

JPMorgan Chase & Co. (NYSE:JPM) last released its quarterly earnings data on Friday, April 12th. The financial services provider reported $4.63 earnings per share for the quarter, beating analysts’ consensus estimates of $4.18 by $0.45. The company had revenue of $41.93 billion during the quarter, compared to analysts’ expectations of $40.90 billion. JPMorgan Chase & Co. had a net margin of 20.05% and a return on equity of 17.79%. Analysts anticipate that JPMorgan Chase & Co. will post 15.98 earnings per share for the current year.

JPMorgan Chase & Co. Increases Dividend

The firm also recently announced 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 is a positive change from JPMorgan Chase & Co.’s previous quarterly dividend of $1.05. The ex-dividend date was Thursday, April 4th. This represents a $4.60 dividend on an annualized basis and a dividend yield of 2.33%. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is 27.78%.

Insider Activity

In other JPMorgan Chase & Co. news, CEO Jennifer Piepszak sold 1,648 shares of the company’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 completion of the transaction, the chief executive officer now directly owns 32,819 shares in the company, valued at $5,873,288.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CEO Jennifer Piepszak sold 1,648 shares of the business’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $178.96, for a total transaction of $294,926.08. Following the completion of the sale, the chief executive officer now owns 32,819 shares of the company’s stock, valued at $5,873,288.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Stacey Friedman sold 6,030 shares of the firm’s stock in a transaction dated 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 transaction, the general counsel now directly owns 59,456 shares in the company, valued at $10,864,394.88. The disclosure for this sale can be found here. Insiders have sold 1,063,506 shares of company stock worth $195,024,605 in the last quarter. Corporate insiders own 0.79% of the company’s stock.

About JPMorgan Chase & Co.

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.