Corundum Trust Company INC Sells 55 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Corundum Trust Company INC trimmed its stake in JPMorgan Chase & Co. (NYSE:JPM) by 2.2% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,457 shares of the financial services provider’s stock after selling 55 shares during the period. JPMorgan Chase & Co. accounts for about 1.8% of Corundum Trust Company INC’s investment portfolio, making the stock its 14th largest position. Corundum Trust Company INC’s holdings in JPMorgan Chase & Co. were worth $589,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. International Assets Investment Management LLC acquired a new position in JPMorgan Chase & Co. in the 3rd quarter valued at $1,888,088,000. Fisher Asset Management LLC grew its position in shares of JPMorgan Chase & Co. by 31.7% in the third quarter. Fisher Asset Management LLC now owns 16,784,272 shares of the financial services provider’s stock valued at $3,539,132,000 after purchasing an additional 4,043,841 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund increased its stake in shares of JPMorgan Chase & Co. by 137.8% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 4,376,176 shares of the financial services provider’s stock worth $922,760,000 after purchasing an additional 2,535,590 shares during the period. Caisse DE Depot ET Placement DU Quebec lifted its position in shares of JPMorgan Chase & Co. by 93.6% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 2,692,159 shares of the financial services provider’s stock worth $567,669,000 after purchasing an additional 1,301,764 shares during the last quarter. Finally, Franklin Resources Inc. boosted its stake in JPMorgan Chase & Co. by 7.2% during the 3rd quarter. Franklin Resources Inc. now owns 15,073,193 shares of the financial services provider’s stock valued at $3,338,955,000 after purchasing an additional 1,016,289 shares during the period. 71.55% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at JPMorgan Chase & Co.

In other JPMorgan Chase & Co. news, General Counsel Stacey Friedman sold 3,303 shares of the stock in a transaction dated Thursday, January 16th. The shares were sold at an average price of $253.94, for a total transaction of $838,763.82. Following the sale, the general counsel now owns 47,620 shares of the company’s stock, valued at $12,092,622.80. This represents a 6.49 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.79% of the company’s stock.

JPMorgan Chase & Co. Trading Down 0.5 %

Shares of JPMorgan Chase & Co. stock opened at $264.66 on Monday. JPMorgan Chase & Co. has a 12-month low of $170.90 and a 12-month high of $267.10. The stock has a market capitalization of $745.09 billion, a P/E ratio of 13.41, a price-to-earnings-growth ratio of 2.83 and a beta of 1.11. The company has a 50-day simple moving average of $245.67 and a 200 day simple moving average of $226.38. The company has a quick ratio of 0.89, a current ratio of 0.88 and a debt-to-equity ratio of 1.24.

JPMorgan Chase & Co. (NYSE:JPMGet Free Report) last posted its quarterly earnings data on Wednesday, January 15th. The financial services provider reported $4.81 earnings per share for the quarter, topping the consensus estimate of $4.03 by $0.78. The company had revenue of $42.77 billion during the quarter, compared to analyst estimates of $41.90 billion. JPMorgan Chase & Co. had a net margin of 20.96% and a return on equity of 16.99%. The company’s revenue was up 10.9% on a year-over-year basis. During the same quarter last year, the business posted $3.04 earnings per share. Research analysts expect that JPMorgan Chase & Co. will post 17.82 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Dividend Announcement

The firm also recently disclosed 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 1.89%. The ex-dividend date is Monday, January 6th. JPMorgan Chase & Co.’s dividend payout ratio is currently 25.33%.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on JPM. Oppenheimer lowered JPMorgan Chase & Co. from an “outperform” rating to a “market perform” rating in a report on Wednesday, November 20th. Truist Financial increased their price target on shares of JPMorgan Chase & Co. from $260.00 to $268.00 and gave the company a “hold” rating in a report on Thursday, January 16th. Keefe, Bruyette & Woods boosted their price objective on shares of JPMorgan Chase & Co. from $257.00 to $264.00 and gave the stock a “market perform” rating in a report on Thursday, January 16th. Daiwa Capital Markets reduced their target price on shares of JPMorgan Chase & Co. from $240.00 to $235.00 and set an “overweight” rating for the company in a research note on Thursday, October 10th. Finally, Piper Sandler boosted their price target on JPMorgan Chase & Co. from $240.00 to $275.00 and gave the company an “overweight” rating in a research note on Tuesday, December 3rd. Two equities 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 stock. Based on data from MarketBeat, JPMorgan Chase & Co. currently has a consensus rating of “Hold” and an average price target of $251.78.

View Our Latest Stock Analysis on JPM

JPMorgan Chase & Co. Profile

(Free Report)

JPMorgan Chase & Co is a financial holding company, which engages in the provision of financial and investment banking services. The firm offers a range of investment banking products and services in all capital markets, including advising on corporate strategy and structure, capital raising in equity and debt markets, risk management, market making in cash securities and derivative instruments, and brokerage and research.

See Also

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

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