JPMorgan Chase & Co. (NYSE:JPM) Stock Holdings Lessened by Essex Savings Bank

Essex Savings Bank cut its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 1.1% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 28,576 shares of the financial services provider’s stock after selling 308 shares during the quarter. JPMorgan Chase & Co. accounts for approximately 1.7% of Essex Savings Bank’s investment portfolio, making the stock its 10th largest position. Essex Savings Bank’s holdings in JPMorgan Chase & Co. were worth $6,850,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Financial Avengers Inc. increased its stake in shares of JPMorgan Chase & Co. by 5.2% during the third quarter. Financial Avengers Inc. now owns 868 shares of the financial services provider’s stock valued at $183,000 after buying an additional 43 shares during the period. Matrix Trust Co grew its holdings in JPMorgan Chase & Co. by 0.4% during the 4th quarter. Matrix Trust Co now owns 10,179 shares of the financial services provider’s stock worth $2,440,000 after acquiring an additional 43 shares in the last quarter. One Charles Private Wealth Services LLC increased its position in JPMorgan Chase & Co. by 0.4% during the 3rd quarter. One Charles Private Wealth Services LLC now owns 12,179 shares of the financial services provider’s stock valued at $2,568,000 after purchasing an additional 44 shares during the period. Henrickson Nauta Wealth Advisors Inc. raised its holdings in shares of JPMorgan Chase & Co. by 1.3% in the 3rd quarter. Henrickson Nauta Wealth Advisors Inc. now owns 3,436 shares of the financial services provider’s stock valued at $725,000 after purchasing an additional 45 shares in the last quarter. Finally, Sunburst Financial Group LLC lifted its position in shares of JPMorgan Chase & Co. by 0.8% in the 3rd quarter. Sunburst Financial Group LLC now owns 5,696 shares of the financial services provider’s stock worth $1,201,000 after purchasing an additional 45 shares during the period. 71.55% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

JPM has been the topic of several research reports. Bank of America lifted their price objective on shares of JPMorgan Chase & Co. from $260.00 to $280.00 and gave the company a “buy” rating in a report on Tuesday, January 7th. Evercore ISI lifted their price target on JPMorgan Chase & Co. from $217.00 to $230.00 and gave the company an “outperform” rating in a report on Monday, October 14th. Truist Financial upped their price objective on JPMorgan Chase & Co. from $260.00 to $268.00 and gave the stock a “hold” rating in a research note on Thursday. UBS Group increased their price target on shares of JPMorgan Chase & Co. from $276.00 to $287.00 and gave the company a “buy” rating in a research report on Thursday. Finally, Citigroup raised their price target on shares of JPMorgan Chase & Co. from $215.00 to $250.00 and gave the company a “neutral” rating in a report on Tuesday, November 19th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, JPMorgan Chase & Co. presently has a consensus rating of “Hold” and a consensus price target of $251.78.

JPMorgan Chase & Co. Stock Performance

Shares of JPM opened at $259.46 on Friday. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.89 and a current ratio of 0.89. The stock has a 50-day moving average of $243.06 and a two-hundred day moving average of $223.93. The stock has a market cap of $730.47 billion, a P/E ratio of 14.44, a P/E/G ratio of 3.16 and a beta of 1.11. JPMorgan Chase & Co. has a one year low of $165.24 and a one year high of $260.62.

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 the consensus estimate of $4.03 by $0.78. JPMorgan Chase & Co. had a return on equity of 16.71% and a net margin of 19.64%. The firm had revenue of $42.77 billion during the quarter, compared to analysts’ expectations of $41.90 billion. During the same period last year, the business posted $3.04 earnings per share. The company’s revenue for the quarter was up 10.9% compared to the same quarter last year. As a group, research analysts predict that JPMorgan Chase & Co. will post 17.46 EPS for the current year.

JPMorgan Chase & Co. Announces Dividend

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 dividend of $1.25 per share. This represents a $5.00 annualized dividend and a yield of 1.93%. The ex-dividend date is Monday, January 6th. JPMorgan Chase & Co.’s payout ratio is 25.33%.

Insider Activity

In related news, General Counsel Stacey Friedman sold 3,303 shares of the firm’s stock in a transaction on Thursday, January 16th. The shares were 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 $12,092,622.80. This trade represents a 6.49 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.79% of the company’s stock.

About JPMorgan Chase & Co.

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.