Profit Investment Management LLC Reduces Position in JPMorgan Chase & Co. (NYSE:JPM)

Profit Investment Management LLC cut its stake in JPMorgan Chase & Co. (NYSE:JPM) by 3.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,022 shares of the financial services provider’s stock after selling 242 shares during the period. Profit Investment Management LLC’s holdings in JPMorgan Chase & Co. were worth $1,444,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. Eagle Capital Management LLC lifted its holdings in shares of JPMorgan Chase & Co. by 0.4% in the 2nd quarter. Eagle Capital Management LLC now owns 21,867 shares of the financial services provider’s stock worth $4,423,000 after purchasing an additional 84 shares during the last quarter. Fiera Capital Corp lifted its holdings in shares of JPMorgan Chase & Co. by 1.7% in the second quarter. Fiera Capital Corp now owns 3,738 shares of the financial services provider’s stock valued at $756,000 after buying an additional 63 shares during the period. J.W. Cole Advisors Inc. boosted its position in shares of JPMorgan Chase & Co. by 27.0% during the 2nd quarter. J.W. Cole Advisors Inc. now owns 50,347 shares of the financial services provider’s stock valued at $10,183,000 after purchasing an additional 10,709 shares in the last quarter. SilverOak Wealth Management LLC boosted its holdings in JPMorgan Chase & Co. by 26.2% during the second quarter. SilverOak Wealth Management LLC now owns 2,987 shares of the financial services provider’s stock worth $604,000 after buying an additional 620 shares in the last quarter. Finally, Lyell Wealth Management LP grew its holdings in shares of JPMorgan Chase & Co. by 2.3% in the 2nd quarter. Lyell Wealth Management LP now owns 88,389 shares of the financial services provider’s stock worth $17,878,000 after acquiring an additional 2,008 shares during the last quarter. Institutional investors and hedge funds own 71.55% of the company’s stock.

JPMorgan Chase & Co. Trading Up 2.0 %

Shares of JPM opened at $259.46 on Friday. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 1.27. The stock has a market cap of $730.47 billion, a PE ratio of 14.44, a PEG ratio of 3.16 and a beta of 1.11. JPMorgan Chase & Co. has a 1 year low of $165.24 and a 1 year high of $260.62. The stock has a 50 day simple moving average of $243.06 and a 200-day simple moving average of $223.93.

JPMorgan Chase & Co. (NYSE:JPM) last released its quarterly earnings results on Wednesday, January 15th. The financial services provider reported $4.81 EPS for the quarter, beating analysts’ consensus estimates of $4.03 by $0.78. The firm had revenue of $42.77 billion for the quarter, compared to analyst estimates of $41.90 billion. JPMorgan Chase & Co. had a net margin of 19.64% and a return on equity of 16.71%. The company’s revenue for the quarter was up 10.9% compared to the same quarter last year. During the same period in the previous year, the business earned $3.04 earnings per share. On average, sell-side analysts predict that JPMorgan Chase & Co. will post 17.46 EPS for the current fiscal year.

JPMorgan Chase & Co. Dividend Announcement

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

Wall Street Analyst Weigh In

JPM has been the topic of several analyst reports. Oppenheimer downgraded shares of JPMorgan Chase & Co. from an “outperform” rating to a “market perform” rating in a research report on Wednesday, November 20th. Evercore ISI upped their target price on JPMorgan Chase & Co. from $217.00 to $230.00 and gave the stock an “outperform” rating in a research report on Monday, October 14th. Piper Sandler raised their price target on shares of JPMorgan Chase & Co. from $240.00 to $275.00 and gave the company an “overweight” rating in a report on Tuesday, December 3rd. Daiwa Capital Markets reduced their target price 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. Finally, Baird R W lowered shares of JPMorgan Chase & Co. from a “hold” rating to a “strong sell” rating in a research report on Thursday, November 7th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $251.78.

Insider Activity

In related news, General Counsel Stacey Friedman sold 3,303 shares of the business’s stock in a transaction that occurred 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 sale, the general counsel now directly owns 47,620 shares of the company’s stock, valued at $12,092,622.80. The trade was a 6.49 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 0.79% of the stock is owned by insiders.

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.