Richard Bernstein Advisors LLC Lowers Stock Position in JPMorgan Chase & Co. $JPM

Richard Bernstein Advisors LLC reduced its stake in JPMorgan Chase & Co. (NYSE:JPM) by 9.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,206 shares of the financial services provider’s stock after selling 2,226 shares during the quarter. JPMorgan Chase & Co. comprises approximately 0.2% of Richard Bernstein Advisors LLC’s portfolio, making the stock its 27th biggest holding. Richard Bernstein Advisors LLC’s holdings in JPMorgan Chase & Co. were worth $6,511,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of JPM. Mountain Hill Investment Partners Corp. purchased a new stake in JPMorgan Chase & Co. in the third quarter valued at approximately $32,000. Turning Point Benefit Group Inc. purchased a new stake in JPMorgan Chase & Co. in the third quarter valued at approximately $35,000. Cresta Advisors Ltd. purchased a new position in shares of JPMorgan Chase & Co. during the fourth quarter worth approximately $48,000. Miller Global Investments LLC purchased a new position in shares of JPMorgan Chase & Co. during the fourth quarter worth approximately $52,000. Finally, Collier Financial purchased a new position in shares of JPMorgan Chase & Co. during the third quarter worth approximately $60,000. 71.55% of the stock is owned by hedge funds and other institutional investors.

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Insider Transactions at JPMorgan Chase & Co.

In other news, COO Jennifer Piepszak sold 9,136 shares of the firm’s stock in a transaction that occurred on Wednesday, April 15th. The shares were sold at an average price of $306.56, for a total value of $2,800,732.16. Following the transaction, the chief operating officer owned 90,001 shares in the company, valued at approximately $27,590,706.56. This trade represents a 9.22% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, General Counsel Stacey Friedman sold 3,404 shares of the firm’s stock in a transaction that occurred on Tuesday, February 17th. The stock was sold at an average price of $306.40, for a total transaction of $1,042,985.60. Following the completion of the transaction, the general counsel owned 61,949 shares in the company, valued at $18,981,173.60. This represents a 5.21% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 79,849 shares of company stock valued at $24,522,956. 0.41% of the stock is currently owned by insiders.

JPMorgan Chase & Co. Stock Down 0.7%

Shares of JPMorgan Chase & Co. stock opened at $297.93 on Friday. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.86 and a current ratio of 0.86. JPMorgan Chase & Co. has a 52-week low of $256.00 and a 52-week high of $337.25. The stock has a market capitalization of $798.31 billion, a price-to-earnings ratio of 14.27, a P/E/G ratio of 1.45 and a beta of 1.03. The company’s 50 day moving average price is $299.67 and its 200-day moving average price is $307.32.

JPMorgan Chase & Co. (NYSE:JPMGet Free Report) last issued its earnings results on Tuesday, April 14th. The financial services provider reported $5.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.50 by $0.44. JPMorgan Chase & Co. had a net margin of 20.66% and a return on equity of 17.54%. The firm had revenue of $50.54 billion for the quarter, compared to analysts’ expectations of $48.30 billion. During the same quarter last year, the business earned $5.07 earnings per share. The business’s revenue was up 10.0% on a year-over-year basis. Equities research analysts forecast that JPMorgan Chase & Co. will post 22.43 EPS for the current year.

JPMorgan Chase & Co. Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, April 30th. Stockholders of record on Monday, April 6th were issued a $1.50 dividend. The ex-dividend date was Monday, April 6th. This represents a $6.00 annualized dividend and a dividend yield of 2.0%. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is currently 28.74%.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Evercore lifted their price target on shares of JPMorgan Chase & Co. from $320.00 to $340.00 and gave the stock an “outperform” rating in a research note on Friday, April 17th. Jefferies Financial Group reissued a “neutral” rating on shares of JPMorgan Chase & Co. in a research note on Monday, May 4th. Zacks Research downgraded shares of JPMorgan Chase & Co. from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, April 8th. Piper Sandler lifted their price target on shares of JPMorgan Chase & Co. from $325.00 to $345.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 15th. Finally, Truist Financial lifted their price target on shares of JPMorgan Chase & Co. from $323.00 to $332.00 and gave the stock a “hold” rating in a research note on Wednesday, April 15th. Fifteen research analysts have rated the stock with a Buy rating and fifteen have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $338.12.

Get Our Latest Report on JPM

JPMorgan Chase & Co. Company Profile

(Free Report)

JPMorgan Chase & Co (NYSE: JPM) is a diversified global financial services firm headquartered in New York City. The company provides a wide range of banking and financial products and services to consumers, small businesses, corporations, governments and institutional investors worldwide. Its operations span retail banking, commercial lending, investment banking, asset management, payments and card services, and treasury and securities services.

The firm’s principal business activities are organized across several core lines: Consumer & Community Banking, which offers deposit accounts, mortgages, auto loans, credit cards and branch and digital banking under the Chase brand; Corporate & Investment Banking, which provides capital markets, advisory, underwriting, trading and risk management services; Commercial Banking, delivering lending, treasury and capital solutions to middle-market and corporate clients; and Asset & Wealth Management, which offers investment management, private banking and retirement services to institutions and high-net-worth individuals.

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

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