Udine Wealth Management Inc. Cuts Holdings in JPMorgan Chase & Co. (NYSE:JPM)

Udine Wealth Management Inc. cut its position in shares of JPMorgan Chase & Co. (NYSE:JPM) by 5.7% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 31,023 shares of the financial services provider’s stock after selling 1,861 shares during the quarter. JPMorgan Chase & Co. accounts for about 4.8% of Udine Wealth Management Inc.’s portfolio, making the stock its 7th biggest holding. Udine Wealth Management Inc.’s holdings in JPMorgan Chase & Co. were worth $7,437,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Mizuho Securities Co. Ltd. acquired a new position in JPMorgan Chase & Co. during the third quarter valued at approximately $25,000. Catalyst Capital Advisors LLC bought a new stake in shares of JPMorgan Chase & Co. during the 3rd quarter worth approximately $27,000. West Financial Advisors LLC acquired a new stake in shares of JPMorgan Chase & Co. in the 3rd quarter valued at approximately $37,000. New England Capital Financial Advisors LLC grew its stake in shares of JPMorgan Chase & Co. by 38.5% in the third quarter. New England Capital Financial Advisors LLC now owns 180 shares of the financial services provider’s stock valued at $38,000 after buying an additional 50 shares in the last quarter. Finally, Carolina Wealth Advisors LLC increased its holdings in JPMorgan Chase & Co. by 36.0% during the third quarter. Carolina Wealth Advisors LLC now owns 189 shares of the financial services provider’s stock worth $40,000 after buying an additional 50 shares during the last quarter. Institutional investors and hedge funds own 71.55% of the company’s stock.

JPMorgan Chase & Co. Stock Up 2.0 %

Shares of NYSE JPM opened at $259.46 on Tuesday. The company has a market cap of $730.47 billion, a price-to-earnings ratio of 14.44, a PEG ratio of 3.16 and a beta of 1.11. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 1.27. JPMorgan Chase & Co. has a 12 month low of $165.24 and a 12 month high of $260.62. The stock has a 50-day moving average price of $243.50 and a two-hundred day moving average price of $224.52.

JPMorgan Chase & Co. (NYSE:JPMGet Free Report) last issued its quarterly earnings data on Wednesday, January 15th. The financial services provider reported $4.81 EPS for the quarter, beating the consensus estimate of $4.03 by $0.78. The business had revenue of $42.77 billion during the quarter, compared to the consensus estimate of $41.90 billion. JPMorgan Chase & Co. had a net margin of 19.64% and a return on equity of 16.71%. The firm’s revenue was up 10.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $3.04 EPS. As a group, analysts forecast that JPMorgan Chase & Co. will post 17.46 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Monday, January 6th will be paid a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a dividend yield of 1.93%. The ex-dividend date of this dividend is Monday, January 6th. JPMorgan Chase & Co.’s payout ratio is 27.82%.

Wall Street Analyst Weigh In

JPM has been the subject of a number of recent analyst reports. Wolfe Research upgraded shares of JPMorgan Chase & Co. from a “peer perform” rating to an “outperform” rating and set a $269.00 price target for the company in a research note on Friday, January 3rd. Royal Bank of Canada boosted their price target on JPMorgan Chase & Co. from $211.00 to $230.00 and gave the stock an “outperform” rating in a research report on Monday, October 14th. Piper Sandler raised their price objective on JPMorgan Chase & Co. from $240.00 to $275.00 and gave the company an “overweight” rating in a research report on Tuesday, December 3rd. Daiwa Capital Markets dropped their price target on JPMorgan Chase & Co. from $240.00 to $235.00 and set an “overweight” rating on the stock in a research note on Thursday, October 10th. Finally, Morgan Stanley cut shares of JPMorgan Chase & Co. from an “overweight” rating to an “equal weight” rating and lifted their price objective for the stock from $220.00 to $224.00 in a research report on Monday, September 30th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $251.78.

Get Our Latest Stock Report on JPMorgan Chase & Co.

Insider Activity

In other news, General Counsel Stacey Friedman sold 3,303 shares of JPMorgan Chase & Co. stock in a transaction on Thursday, January 16th. The shares were sold at an average price of $253.94, for a total transaction of $838,763.82. Following the transaction, the general counsel now owns 47,620 shares in the company, valued at approximately $12,092,622.80. The trade was a 6.49 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.79% of the stock is currently owned by insiders.

JPMorgan Chase & Co. Company Profile

(Free Report)

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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Institutional Ownership by Quarter for JPMorgan Chase & Co. (NYSE:JPM)

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