Heritage Wealth Advisors Decreases Stake in JPMorgan Chase & Co. (NYSE:JPM)

Heritage Wealth Advisors decreased its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 1.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,469 shares of the financial services provider’s stock after selling 163 shares during the quarter. Heritage Wealth Advisors’ holdings in JPMorgan Chase & Co. were worth $2,989,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the stock. Geode Capital Management LLC raised its stake in JPMorgan Chase & Co. by 0.9% in the 3rd quarter. Geode Capital Management LLC now owns 58,344,186 shares of the financial services provider’s stock worth $12,258,346,000 after acquiring an additional 505,830 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of JPMorgan Chase & Co. by 0.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 20,103,063 shares of the financial services provider’s stock worth $4,818,905,000 after purchasing an additional 71,122 shares during the last quarter. Fisher Asset Management LLC lifted its holdings in shares of JPMorgan Chase & Co. by 3.7% during the fourth quarter. Fisher Asset Management LLC now owns 17,401,436 shares of the financial services provider’s stock worth $4,171,298,000 after purchasing an additional 617,164 shares during the period. Franklin Resources Inc. boosted its position in JPMorgan Chase & Co. by 7.2% in the third quarter. Franklin Resources Inc. now owns 15,073,193 shares of the financial services provider’s stock valued at $3,338,955,000 after buying an additional 1,016,289 shares during the last quarter. Finally, Principal Financial Group Inc. raised its position in JPMorgan Chase & Co. by 3.2% during the 3rd quarter. Principal Financial Group Inc. now owns 5,824,289 shares of the financial services provider’s stock worth $1,228,110,000 after buying an additional 182,648 shares during the last quarter. Institutional investors and hedge funds own 71.55% of the company’s stock.

Insider Activity

In other JPMorgan Chase & Co. news, CEO Troy L. Rohrbaugh sold 37,500 shares of the stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $269.84, for a total transaction of $10,119,000.00. Following the sale, the chief executive officer now directly owns 158,381 shares in the company, valued at $42,737,529.04. This represents a 19.14 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, General Counsel Stacey Friedman sold 3,303 shares of the business’s stock in a transaction dated Thursday, January 16th. The stock was sold at an average price of $253.94, for a total value of $838,763.82. Following the transaction, the general counsel now directly 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 disclosure for this sale can be found here. Insiders have sold a total of 76,848 shares of company stock valued at $19,987,908 in the last quarter. Insiders own 0.79% of the company’s stock.

JPMorgan Chase & Co. Trading Up 1.2 %

Shares of JPM opened at $245.66 on Tuesday. JPMorgan Chase & Co. has a 12-month low of $179.20 and a 12-month high of $280.25. The firm has a market capitalization of $686.89 billion, a P/E ratio of 12.44, a P/E/G ratio of 2.83 and a beta of 1.10. The firm has a 50-day moving average price of $257.27 and a 200 day moving average price of $241.05. The company has a current ratio of 0.88, a quick ratio of 0.89 and a debt-to-equity ratio of 1.24.

JPMorgan Chase & Co. (NYSE:JPM) last posted its quarterly earnings results on Wednesday, January 15th. The financial services provider reported $4.81 earnings per share 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 analysts’ expectations of $41.90 billion. JPMorgan Chase & Co. had a net margin of 20.96% and a return on equity of 16.99%. The business’s revenue for the quarter was up 10.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $3.04 EPS. Sell-side analysts forecast that JPMorgan Chase & Co. will post 18.1 EPS for the current year.

JPMorgan Chase & Co. Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Friday, April 4th will be paid a dividend of $1.40 per share. This is a boost from JPMorgan Chase & Co.’s previous quarterly dividend of $1.25. The ex-dividend date of this dividend is Friday, April 4th. This represents a $5.60 annualized dividend and a yield of 2.28%. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is 28.37%.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. Baird R W raised shares of JPMorgan Chase & Co. from a “strong sell” rating to a “hold” rating in a report on Friday, March 7th. Keefe, Bruyette & Woods boosted their price objective on JPMorgan Chase & Co. from $257.00 to $264.00 and gave the company a “market perform” rating in a report on Thursday, January 16th. Truist Financial raised 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, January 16th. Barclays boosted their price target on JPMorgan Chase & Co. from $304.00 to $330.00 and gave the company an “overweight” rating in a report on Thursday, January 16th. Finally, Bank of America raised their price objective on shares of JPMorgan Chase & Co. from $260.00 to $280.00 and gave the stock a “buy” rating in a research note on Tuesday, January 7th. Ten investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat, JPMorgan Chase & Co. presently has an average rating of “Moderate Buy” and a consensus target price of $252.89.

About JPMorgan Chase & Co.

JPMorgan Chase & Co is a financial holding company, which engages in the provision of financial and investment banking services. It focuses on investment banking, financial services for consumers and small businesses, commercial banking, financial transaction processing, and asset management. It operates through the following segments: Consumer and Community Banking (CCB), Commercial and Investment Bank (CIB), Asset and Wealth Management (AWM), and Corporate.