Next Capital Management LLC Sells 608 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Next Capital Management LLC lessened its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 14.2% during the 4th quarter, HoldingsChannel.com reports. The fund owned 3,670 shares of the financial services provider’s stock after selling 608 shares during the period. Next Capital Management LLC’s holdings in JPMorgan Chase & Co. were worth $880,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of JPM. Midwest Capital Advisors LLC bought a new stake in shares of JPMorgan Chase & Co. during the fourth quarter valued at approximately $43,000. Collier Financial bought a new position in JPMorgan Chase & Co. in the fourth quarter worth approximately $45,000. Lowe Wealth Advisors LLC increased its holdings in JPMorgan Chase & Co. by 34.0% during the 4th quarter. Lowe Wealth Advisors LLC now owns 201 shares of the financial services provider’s stock worth $48,000 after purchasing an additional 51 shares during the period. Kieckhefer Group LLC bought a new stake in JPMorgan Chase & Co. during the 4th quarter valued at $50,000. Finally, Legacy Investment Solutions LLC purchased a new stake in shares of JPMorgan Chase & Co. in the 3rd quarter worth $45,000. Institutional investors own 71.55% of the company’s stock.

JPMorgan Chase & Co. Stock Performance

JPM opened at $250.99 on Thursday. The company has a current ratio of 0.88, a quick ratio of 0.89 and a debt-to-equity ratio of 1.24. JPMorgan Chase & Co. has a 12-month low of $179.20 and a 12-month high of $280.25. The firm has a 50 day moving average of $257.99 and a two-hundred day moving average of $240.06. The firm has a market capitalization of $701.79 billion, a PE ratio of 12.71, a P/E/G ratio of 2.83 and a beta of 1.10.

JPMorgan Chase & Co. (NYSE:JPM) last posted its earnings results on Wednesday, January 15th. The financial services provider reported $4.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $41.90 billion. During the same period in the previous year, the firm posted $3.04 earnings per share. The firm’s quarterly revenue was up 10.9% on a year-over-year basis. On average, analysts anticipate that JPMorgan Chase & Co. will post 18.1 EPS for the current year.

JPMorgan Chase & Co. Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Friday, April 4th will be paid a $1.40 dividend. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.25. The ex-dividend date of this dividend is Friday, April 4th. This represents a $5.60 dividend on an annualized basis and a dividend yield of 2.23%. JPMorgan Chase & Co.’s dividend payout ratio is presently 28.37%.

Analyst Ratings Changes

JPM has been the subject of several recent research reports. Bank of America lifted their price objective on JPMorgan Chase & Co. from $260.00 to $280.00 and gave the company a “buy” rating in a report on Tuesday, January 7th. Baird R W upgraded shares of JPMorgan Chase & Co. from a “strong sell” rating to a “hold” rating in a report on Friday, March 7th. Piper Sandler increased their price objective on shares of JPMorgan Chase & Co. from $240.00 to $275.00 and gave the company an “overweight” rating in a research note on Tuesday, December 3rd. Keefe, Bruyette & Woods upped their target price on JPMorgan Chase & Co. from $257.00 to $264.00 and gave the stock a “market perform” rating in a report on Thursday, January 16th. Finally, UBS Group lifted their price target on JPMorgan Chase & Co. from $276.00 to $287.00 and gave the company a “buy” rating in a report on Thursday, January 16th. Ten research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $252.89.

Insider Buying and Selling

In related news, CEO Troy L. Rohrbaugh sold 25,000 shares of the stock in a transaction on Monday, March 24th. The shares were sold at an average price of $247.02, for a total transaction of $6,175,500.00. Following the sale, the chief executive officer now directly owns 133,381 shares of the company’s stock, valued at approximately $32,947,774.62. This represents a 15.78 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Robin Leopold sold 1,250 shares of the firm’s stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $246.92, for a total value of $308,650.00. Following the sale, the insider now owns 49,127 shares in the company, valued at $12,130,438.84. This trade represents a 2.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 76,848 shares of company stock valued at $19,987,908 over the last ninety days. Company insiders own 0.79% of the company’s stock.

JPMorgan Chase & Co. Profile

JPMorgan Chase & Co is a financial holding company, which engages in the provision of financial and investment banking services. The firm offers a range of investment banking products and services in all capital markets, including advising on corporate strategy and structure, capital raising in equity and debt markets, risk management, market making in cash securities and derivative instruments, and brokerage and research.