Connective Portfolio Management LLC Sells 6,000 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Connective Portfolio Management LLC cut its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 59.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,080 shares of the financial services provider’s stock after selling 6,000 shares during the quarter. Connective Portfolio Management LLC’s holdings in JPMorgan Chase & Co. were worth $978,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the business. 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 valued at $938,491,000 after buying an additional 319,730 shares in the last quarter. Sageworth Trust Co lifted its stake in JPMorgan Chase & Co. by 37.9% in the third quarter. Sageworth Trust Co now owns 2,860 shares of the financial services provider’s stock valued at $603,000 after acquiring an additional 786 shares during the last quarter. Kingsview Wealth Management LLC grew its position in shares of JPMorgan Chase & Co. by 2.5% in the 3rd quarter. Kingsview Wealth Management LLC now owns 118,095 shares of the financial services provider’s stock valued at $24,902,000 after acquiring an additional 2,839 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of JPMorgan Chase & Co. by 16.0% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 692,809 shares of the financial services provider’s stock worth $143,594,000 after purchasing an additional 95,461 shares during the last quarter. Finally, Zions Bancorporation N.A. raised its holdings in shares of JPMorgan Chase & Co. by 2.5% in the 3rd quarter. Zions Bancorporation N.A. now owns 11,157 shares of the financial services provider’s stock valued at $2,353,000 after purchasing an additional 267 shares during the period. 71.55% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, General Counsel Stacey Friedman sold 3,303 shares of the business’s stock in a transaction on Thursday, January 16th. The stock was sold at an average price of $253.94, for a total transaction of $838,763.82. Following the completion of the transaction, the general counsel now owns 47,620 shares of the company’s stock, valued at approximately $12,092,622.80. The trade was a 6.49 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.79% of the company’s stock.

JPMorgan Chase & Co. Stock Up 2.0 %

Shares of NYSE JPM opened at $259.46 on Friday. The stock has a market capitalization of $730.47 billion, a P/E ratio of 14.44, a PEG ratio of 3.16 and a beta of 1.11. The stock’s fifty day moving average is $243.06 and its 200 day moving average is $223.93. JPMorgan Chase & Co. has a 52 week low of $165.24 and a 52 week high of $260.62. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.89 and a current ratio of 0.89.

JPMorgan Chase & Co. (NYSE:JPM) last announced its quarterly earnings data on Wednesday, January 15th. The financial services provider reported $4.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.03 by $0.78. The firm had revenue of $42.77 billion for 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 business’s revenue for the quarter was up 10.9% on a year-over-year basis. During the same period in the prior year, the company posted $3.04 earnings per share. Sell-side analysts forecast that JPMorgan Chase & Co. will post 17.46 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Monday, January 6th will be given a dividend of $1.25 per share. The ex-dividend date of this dividend is Monday, January 6th. This represents a $5.00 annualized dividend and a yield of 1.93%. JPMorgan Chase & Co.’s dividend payout ratio is currently 25.33%.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on JPM. Daiwa Capital Markets reduced their price target on JPMorgan Chase & Co. from $240.00 to $235.00 and set an “overweight” rating for the company in a report on Thursday, October 10th. Truist Financial boosted their target price on JPMorgan Chase & Co. from $260.00 to $268.00 and gave the stock a “hold” rating in a report on Thursday. Morgan Stanley downgraded JPMorgan Chase & Co. from an “overweight” rating to an “equal weight” rating and raised their price target for the company from $220.00 to $224.00 in a report on Monday, September 30th. Oppenheimer downgraded shares of JPMorgan Chase & Co. from an “outperform” rating to a “market perform” rating in a report on Wednesday, November 20th. Finally, Citigroup raised their target price on shares of JPMorgan Chase & Co. from $215.00 to $250.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 19th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $251.78.

JPMorgan Chase & Co. Profile

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.