Envestnet Portfolio Solutions Inc. Sells 23,903 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Envestnet Portfolio Solutions Inc. lessened its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 6.7% during the 4th quarter, Holdings Channel.com reports. The fund owned 331,875 shares of the financial services provider’s stock after selling 23,903 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in JPMorgan Chase & Co. were worth $79,554,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Disciplined Investments LLC bought a new position in shares of JPMorgan Chase & Co. in the fourth quarter valued at approximately $217,000. LGT Group Foundation raised its position in shares of JPMorgan Chase & Co. by 2.8% in the fourth quarter. LGT Group Foundation now owns 525,801 shares of the financial services provider’s stock valued at $126,040,000 after purchasing an additional 14,300 shares during the period. Kinsale Capital Group Inc. grew its stake in shares of JPMorgan Chase & Co. by 11.1% in the fourth quarter. Kinsale Capital Group Inc. now owns 43,732 shares of the financial services provider’s stock worth $10,483,000 after acquiring an additional 4,375 shares during the last quarter. Jag Capital Management LLC grew its stake in shares of JPMorgan Chase & Co. by 10.5% in the fourth quarter. Jag Capital Management LLC now owns 1,474 shares of the financial services provider’s stock worth $353,000 after acquiring an additional 140 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its stake in shares of JPMorgan Chase & Co. by 7.7% in the third quarter. JPMorgan Chase & Co. now owns 4,450,775 shares of the financial services provider’s stock worth $938,491,000 after acquiring an additional 319,730 shares during the last quarter. Institutional investors own 71.55% of the company’s stock.

JPMorgan Chase & Co. Stock Up 1.0 %

JPM opened at $241.49 on Monday. The firm’s 50-day simple moving average is $257.86 and its 200-day simple moving average is $239.50. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.89 and a current ratio of 0.88. JPMorgan Chase & Co. has a twelve month low of $179.20 and a twelve month high of $280.25. The firm has a market cap of $675.24 billion, a price-to-earnings ratio of 12.23, a PEG ratio of 2.83 and a beta of 1.10.

JPMorgan Chase & Co. (NYSE:JPM) last posted its earnings results 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. JPMorgan Chase & Co. had a net margin of 20.96% and a return on equity of 16.99%. The business had revenue of $42.77 billion for the quarter, compared to analyst estimates of $41.90 billion. During the same quarter in the prior year, the firm earned $3.04 EPS. The firm’s quarterly revenue was up 10.9% compared to the same quarter last year. Equities research analysts anticipate that JPMorgan Chase & Co. will post 18.1 EPS for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Friday, April 4th will be issued a $1.40 dividend. This is a positive change from JPMorgan Chase & Co.’s previous quarterly dividend of $1.25. The ex-dividend date is Friday, April 4th. This represents a $5.60 annualized dividend and a dividend yield of 2.32%. JPMorgan Chase & Co.’s dividend payout ratio is presently 28.37%.

Insider Buying and Selling

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 transaction of $838,763.82. Following the transaction, the general counsel now owns 47,620 shares in the company, valued at $12,092,622.80. This represents a 6.49 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Jennifer Piepszak sold 4,273 shares of the company’s stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $269.85, for a total transaction of $1,153,069.05. Following the transaction, the chief operating officer now owns 54,469 shares in the company, valued at approximately $14,698,459.65. This trade represents a 7.27 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 46,326 shares of company stock worth $12,448,445 in the last 90 days. Corporate insiders own 0.79% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on JPM shares. Piper Sandler raised their price objective on shares of JPMorgan Chase & Co. from $240.00 to $275.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 3rd. Barclays raised their price objective on shares of JPMorgan Chase & Co. from $304.00 to $330.00 and gave the stock an “overweight” rating in a research note on Thursday, January 16th. Wolfe Research upgraded shares of JPMorgan Chase & Co. from a “peer perform” rating to an “outperform” rating and set a $269.00 price objective on the stock in a research note on Friday, January 3rd. Robert W. Baird upgraded shares of JPMorgan Chase & Co. from an “underperform” rating to a “neutral” rating and raised their price objective for the stock from $215.00 to $220.00 in a research note on Friday, March 7th. Finally, Keefe, Bruyette & Woods raised 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 research note on Thursday, January 16th. Ten research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $252.89.

JPMorgan Chase & Co. Profile

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.