Citizens Financial Group Inc. RI cut its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 6.2% during the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 174,342 shares of the financial services provider’s stock after selling 11,526 shares during the period. JPMorgan Chase & Co. accounts for 1.0% of Citizens Financial Group Inc. RI’s holdings, making the stock its 20th biggest holding. Citizens Financial Group Inc. RI’s holdings in JPMorgan Chase & Co. were worth $25,283,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently modified their holdings of JPM. JSF Financial LLC boosted its holdings in shares of JPMorgan Chase & Co. by 0.6% in the second quarter. JSF Financial LLC now owns 10,680 shares of the financial services provider’s stock valued at $1,553,000 after acquiring an additional 65 shares in the last quarter. Red Wave Investments LLC lifted its stake in shares of JPMorgan Chase & Co. by 1.4% in the second quarter. Red Wave Investments LLC now owns 4,719 shares of the financial services provider’s stock valued at $686,000 after purchasing an additional 65 shares during the period. Riverview Capital Advisers LLC lifted its stake in shares of JPMorgan Chase & Co. by 4.2% in the second quarter. Riverview Capital Advisers LLC now owns 1,654 shares of the financial services provider’s stock valued at $241,000 after purchasing an additional 66 shares during the period. Orca Investment Management LLC lifted its stake in shares of JPMorgan Chase & Co. by 0.8% in the second quarter. Orca Investment Management LLC now owns 8,294 shares of the financial services provider’s stock valued at $1,206,000 after purchasing an additional 68 shares during the period. Finally, Affinity Wealth Management LLC lifted its stake in shares of JPMorgan Chase & Co. by 0.4% in the second quarter. Affinity Wealth Management LLC now owns 19,082 shares of the financial services provider’s stock valued at $2,775,000 after purchasing an additional 68 shares during the period. 68.94% of the stock is currently owned by institutional investors.
JPMorgan Chase & Co. Stock Performance
Shares of NYSE:JPM traded up $1.16 on Tuesday, reaching $180.19. 4,736,566 shares of the company’s stock were exchanged, compared to its average volume of 9,680,720. The firm has a market capitalization of $518.35 billion, a price-to-earnings ratio of 11.06, a PEG ratio of 2.26 and a beta of 1.14. JPMorgan Chase & Co. has a fifty-two week low of $123.11 and a fifty-two week high of $180.46. The business’s 50-day moving average is $171.00 and its two-hundred day moving average is $156.15. The company has a quick ratio of 0.90, a current ratio of 0.91 and a debt-to-equity ratio of 1.30.
JPMorgan Chase & Co. (NYSE:JPM – Get Free Report) last released its quarterly earnings results on Friday, January 12th. The financial services provider reported $3.04 EPS for the quarter, missing the consensus estimate of $3.73 by ($0.69). The firm had revenue of $38.57 billion for the quarter, compared to the consensus estimate of $39.73 billion. JPMorgan Chase & Co. had a return on equity of 17.80% and a net margin of 20.70%. The firm’s revenue was up 11.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $3.57 EPS. As a group, equities research analysts forecast that JPMorgan Chase & Co. will post 15.87 EPS for the current year.
JPMorgan Chase & Co. Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 31st. Shareholders of record on Thursday, January 4th were issued a $1.05 dividend. This represents a $4.20 dividend on an annualized basis and a yield of 2.33%. The ex-dividend date was Thursday, January 4th. JPMorgan Chase & Co.’s payout ratio is 25.89%.
Analyst Ratings Changes
A number of equities research analysts have recently commented on JPM shares. The Goldman Sachs Group reiterated a “buy” rating on shares of JPMorgan Chase & Co. in a report on Thursday, February 1st. BMO Capital Markets lifted their price target on shares of JPMorgan Chase & Co. from $192.00 to $194.00 and gave the stock a “market perform” rating in a report on Tuesday, January 16th. Piper Sandler lifted their price target on shares of JPMorgan Chase & Co. from $190.00 to $200.00 and gave the stock an “overweight” rating in a report on Tuesday, January 16th. Morgan Stanley lifted their price target on shares of JPMorgan Chase & Co. from $191.00 to $221.00 and gave the stock an “overweight” rating in a report on Tuesday, January 30th. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of JPMorgan Chase & Co. from a “hold” rating to a “buy” rating and lifted their price target for the stock from $140.00 to $190.00 in a report on Tuesday, January 9th. Eight research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $179.11.
Insider Buying and Selling at JPMorgan Chase & Co.
In other JPMorgan Chase & Co. news, CEO Marianne Lake sold 32,243 shares of the company’s stock in a transaction dated Tuesday, December 12th. The shares were sold at an average price of $160.00, for a total transaction of $5,158,880.00. Following the completion of the sale, the chief executive officer now directly owns 131,962 shares of the company’s stock, valued at $21,113,920. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, CEO Marianne Lake sold 32,243 shares of the stock in a transaction that occurred on Tuesday, December 12th. The shares were sold at an average price of $160.00, for a total value of $5,158,880.00. Following the completion of the sale, the chief executive officer now directly owns 131,962 shares of the company’s stock, valued at $21,113,920. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Ashley Bacon sold 3,368 shares of the stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $179.00, for a total transaction of $602,872.00. Following the completion of the sale, the insider now directly owns 202,093 shares of the company’s stock, valued at $36,174,647. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 45,898 shares of company stock valued at $7,518,819. 0.79% of the stock is currently owned by corporate 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 to consumers and small businesses; mortgage origination and servicing activities; residential mortgages and home equity loans; and credit cards, auto loans, leases, and travel services.
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