Providence Wealth Advisors LLC Sells 629 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Providence Wealth Advisors LLC cut its position in JPMorgan Chase & Co. (NYSE:JPM) by 2.9% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 20,800 shares of the financial services provider’s stock after selling 629 shares during the period. JPMorgan Chase & Co. makes up 3.9% of Providence Wealth Advisors LLC’s portfolio, making the stock its 5th biggest holding. Providence Wealth Advisors LLC’s holdings in JPMorgan Chase & Co. were worth $5,028,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Disciplined Investments LLC purchased a new stake in shares of JPMorgan Chase & Co. during the fourth quarter worth $217,000. LGT Group Foundation boosted its stake in shares of JPMorgan Chase & Co. by 2.8% in the 4th quarter. LGT Group Foundation now owns 525,801 shares of the financial services provider’s stock valued at $126,040,000 after buying an additional 14,300 shares during the period. Kinsale Capital Group Inc. grew its position in shares of JPMorgan Chase & Co. by 11.1% during the fourth quarter. Kinsale Capital Group Inc. now owns 43,732 shares of the financial services provider’s stock worth $10,483,000 after buying an additional 4,375 shares in the last quarter. Jag Capital Management LLC increased its stake in shares of JPMorgan Chase & Co. by 10.5% during the fourth quarter. Jag Capital Management LLC now owns 1,474 shares of the financial services provider’s stock worth $353,000 after buying an additional 140 shares during the period. Finally, JPMorgan Chase & Co. raised its holdings in JPMorgan Chase & Co. by 7.7% in the third quarter. JPMorgan Chase & Co. now owns 4,450,775 shares of the financial services provider’s stock valued at $938,491,000 after acquiring an additional 319,730 shares in the last quarter. Hedge funds and other institutional investors own 71.55% of the company’s stock.

Insiders Place Their Bets

In other JPMorgan Chase & Co. news, General Counsel Stacey Friedman sold 3,303 shares of the business’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 sale, the general counsel now directly owns 47,620 shares in the company, valued at approximately $12,092,622.80. The trade was a 6.49 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Robin Leopold sold 1,250 shares of the stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $270.09, for a total transaction of $337,612.50. Following the completion of the transaction, the insider now owns 50,377 shares of the company’s stock, valued at $13,606,323.93. This represents a 2.42 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 76,848 shares of company stock worth $19,987,908. Company insiders own 0.79% of the company’s stock.

JPMorgan Chase & Co. Trading Down 0.7 %

NYSE:JPM opened at $243.58 on Wednesday. JPMorgan Chase & Co. has a 12-month low of $179.20 and a 12-month high of $280.25. The company has a current ratio of 0.88, a quick ratio of 0.89 and a debt-to-equity ratio of 1.24. The stock’s 50 day simple moving average is $256.88 and its 200-day simple moving average is $241.33. The firm has a market cap of $681.06 billion, a P/E ratio of 12.34, a PEG ratio of 2.83 and a beta of 1.10.

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, beating the consensus estimate of $4.03 by $0.78. JPMorgan Chase & Co. had a net margin of 20.96% and a return on equity of 16.99%. The company had revenue of $42.77 billion for the quarter, compared to analysts’ expectations of $41.90 billion. During the same period in the previous year, the company posted $3.04 EPS. JPMorgan Chase & Co.’s revenue was up 10.9% compared to the same quarter last year. Equities analysts anticipate that JPMorgan Chase & Co. will post 18.1 EPS for the current year.

JPMorgan Chase & Co. Increases Dividend

The firm also recently disclosed 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. This represents a $5.60 dividend on an annualized basis and a yield of 2.30%. The ex-dividend date of this dividend is Friday, April 4th. This is a positive change from JPMorgan Chase & Co.’s previous quarterly dividend of $1.25. JPMorgan Chase & Co.’s payout ratio is currently 28.37%.

Analyst Ratings Changes

A number of equities research analysts have commented on the stock. Bank of America increased their price objective on shares of JPMorgan Chase & Co. from $260.00 to $280.00 and gave the company a “buy” rating in a research report on Tuesday, January 7th. Evercore ISI cut their price target on JPMorgan Chase & Co. from $273.00 to $265.00 and set an “outperform” rating on the stock in a research note on Tuesday. Keefe, Bruyette & Woods upped their price objective on JPMorgan Chase & Co. from $257.00 to $264.00 and gave the stock a “market perform” rating in a research report on Thursday, January 16th. Baird R W raised JPMorgan Chase & Co. from a “strong sell” rating to a “hold” rating in a research report on Friday, March 7th. Finally, Truist Financial upped their price target on JPMorgan Chase & Co. from $260.00 to $268.00 and gave the company a “hold” rating in a report on Thursday, January 16th. Ten analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $254.83.

JPMorgan Chase & Co. Company Profile

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.