Nexus Investment Management ULC reduced its position in JPMorgan Chase & Co. (NYSE:JPM) by 6.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 198,907 shares of the financial services provider’s stock after selling 14,380 shares during the quarter. JPMorgan Chase & Co. accounts for approximately 4.8% of Nexus Investment Management ULC’s investment portfolio, making the stock its 2nd largest holding. Nexus Investment Management ULC’s holdings in JPMorgan Chase & Co. were worth $47,680,000 at the end of the most recent quarter.
Other hedge funds also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. lifted its position in JPMorgan Chase & Co. by 7.7% during the third quarter. JPMorgan Chase & Co. now owns 4,450,775 shares of the financial services provider’s stock valued at $938,491,000 after acquiring an additional 319,730 shares during the last quarter. Sageworth Trust Co boosted its position in shares of JPMorgan Chase & Co. by 37.9% in the 3rd quarter. Sageworth Trust Co now owns 2,860 shares of the financial services provider’s stock worth $603,000 after purchasing an additional 786 shares in the last quarter. Kingsview Wealth Management LLC grew its stake in JPMorgan Chase & Co. by 2.5% during the 3rd quarter. Kingsview Wealth Management LLC now owns 118,095 shares of the financial services provider’s stock worth $24,902,000 after buying an additional 2,839 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in JPMorgan Chase & Co. by 16.0% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 692,809 shares of the financial services provider’s stock valued at $143,594,000 after buying an additional 95,461 shares during the last quarter. Finally, Zions Bancorporation N.A. boosted its holdings in JPMorgan Chase & Co. by 2.5% in the third quarter. Zions Bancorporation N.A. now owns 11,157 shares of the financial services provider’s stock worth $2,353,000 after acquiring an additional 267 shares in the last quarter. 71.55% of the stock is owned by hedge funds and other institutional investors.
JPMorgan Chase & Co. Stock Performance
Shares of NYSE:JPM opened at $259.46 on Tuesday. The company has a debt-to-equity ratio of 1.27, a current ratio of 0.89 and a quick ratio of 0.89. JPMorgan Chase & Co. has a 1 year low of $165.24 and a 1 year high of $260.62. The firm has a market capitalization of $730.47 billion, a PE ratio of 14.44, a P/E/G ratio of 3.16 and a beta of 1.11. The business’s 50 day moving average price is $243.50 and its 200-day moving average price is $224.52.
JPMorgan Chase & Co. Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Monday, January 6th will be paid a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a yield of 1.93%. The ex-dividend date is Monday, January 6th. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is 27.82%.
Analyst Upgrades and Downgrades
Several equities analysts recently commented on JPM shares. Barclays increased their price objective 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. Evercore ISI boosted their price objective on shares of JPMorgan Chase & Co. from $217.00 to $230.00 and gave the company an “outperform” rating in a report on Monday, October 14th. Citigroup raised their target price on JPMorgan Chase & Co. from $215.00 to $250.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 19th. Baird R W downgraded JPMorgan Chase & Co. from a “hold” rating to a “strong sell” rating in a research note on Thursday, November 7th. Finally, Royal Bank of Canada raised their price objective on JPMorgan Chase & Co. from $211.00 to $230.00 and gave the stock an “outperform” rating in a research note on Monday, October 14th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, JPMorgan Chase & Co. currently has a consensus rating of “Hold” and an average target price of $251.78.
Read Our Latest Stock Report on JPM
Insider Transactions at JPMorgan Chase & Co.
In related news, General Counsel Stacey Friedman sold 3,303 shares of the company’s stock in a transaction dated Thursday, January 16th. The shares were sold at an average price of $253.94, for a total value of $838,763.82. Following the completion of the sale, the general counsel now owns 47,620 shares of the company’s stock, valued at approximately $12,092,622.80. This represents a 6.49 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 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.
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