Optimum Investment Advisors Cuts Holdings in JPMorgan Chase & Co. (NYSE:JPM)

Optimum Investment Advisors reduced its position in JPMorgan Chase & Co. (NYSE:JPM) by 1.7% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 12,926 shares of the financial services provider’s stock after selling 219 shares during the period. JPMorgan Chase & Co. accounts for 1.4% of Optimum Investment Advisors’ investment portfolio, making the stock its 13th largest holding. Optimum Investment Advisors’ holdings in JPMorgan Chase & Co. were worth $3,099,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Midwest Capital Advisors LLC purchased a new position in shares of JPMorgan Chase & Co. in the 4th quarter worth $43,000. Legacy Investment Solutions LLC purchased a new position in JPMorgan Chase & Co. in the third quarter worth about $45,000. Collier Financial purchased a new position in JPMorgan Chase & Co. in the fourth quarter worth about $45,000. Lowe Wealth Advisors LLC increased its stake in JPMorgan Chase & Co. by 34.0% during the fourth quarter. Lowe Wealth Advisors LLC now owns 201 shares of the financial services provider’s stock worth $48,000 after acquiring an additional 51 shares during the last quarter. Finally, Kieckhefer Group LLC purchased a new stake in JPMorgan Chase & Co. during the fourth quarter valued at approximately $50,000. 71.55% of the stock is owned by institutional investors.

JPMorgan Chase & Co. Price Performance

Shares of JPM opened at $242.97 on Friday. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.89 and a current ratio of 0.88. The company has a 50 day moving average price of $257.55 and a 200-day moving average price of $240.30. JPMorgan Chase & Co. has a fifty-two week low of $179.20 and a fifty-two week high of $280.25. The stock has a market capitalization of $679.36 billion, a PE ratio of 12.31, a PEG ratio of 2.83 and a beta of 1.10.

JPMorgan Chase & Co. (NYSE:JPM) last announced its earnings results on Wednesday, January 15th. The financial services provider reported $4.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.03 by $0.78. The business had revenue of $42.77 billion for the quarter, compared to analysts’ expectations of $41.90 billion. JPMorgan Chase & Co. had a return on equity of 16.99% and a net margin of 20.96%. The business’s revenue for the quarter was up 10.9% on a year-over-year basis. During the same quarter last year, the firm earned $3.04 EPS. Equities analysts predict that JPMorgan Chase & Co. will post 18.1 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Friday, April 4th will be issued a $1.40 dividend. The ex-dividend date is Friday, April 4th. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.25. This represents a $5.60 dividend on an annualized basis and a yield of 2.30%. JPMorgan Chase & Co.’s payout ratio is currently 28.37%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. Barclays boosted their target price on JPMorgan Chase & Co. from $304.00 to $330.00 and gave the company an “overweight” rating in a research report on Thursday, January 16th. Robert W. Baird upgraded shares of JPMorgan Chase & Co. from an “underperform” rating to a “neutral” rating and boosted their price objective for the company from $215.00 to $220.00 in a research report on Friday, March 7th. Wolfe Research upgraded shares of JPMorgan Chase & Co. from a “peer perform” rating to an “outperform” rating and set a $269.00 target price for the company in a report on Friday, January 3rd. Piper Sandler upped 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. Finally, Keefe, Bruyette & Woods raised their price objective on shares of JPMorgan Chase & Co. from $257.00 to $264.00 and gave the stock a “market perform” rating in a research note on Thursday, January 16th. Ten research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, JPMorgan Chase & Co. presently has an average rating of “Moderate Buy” and a consensus price target of $252.89.

Insider Buying and Selling at JPMorgan Chase & Co.

In related news, CEO Troy L. Rohrbaugh sold 37,500 shares of the business’s 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 completion of the transaction, the chief executive officer now owns 158,381 shares in the company, valued at $42,737,529.04. The trade was a 19.14 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, General Counsel Stacey Friedman sold 3,303 shares of JPMorgan Chase & Co. 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 directly owns 47,620 shares in the company, valued at $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. Over the last ninety days, insiders sold 76,848 shares of company stock valued at $19,987,908. 0.79% of the stock is currently owned by insiders.

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.