Summit Global Investments Has $2.17 Million Stock Holdings in JPMorgan Chase & Co. (NYSE:JPM)

Summit Global Investments reduced its position in JPMorgan Chase & Co. (NYSE:JPM) by 71.5% in the 4th quarter, Holdings Channel reports. The institutional investor owned 9,071 shares of the financial services provider’s stock after selling 22,764 shares during the period. Summit Global Investments’ holdings in JPMorgan Chase & Co. were worth $2,174,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. DDD Partners LLC grew its stake in shares of JPMorgan Chase & Co. by 2.8% during the 4th quarter. DDD Partners LLC now owns 1,416 shares of the financial services provider’s stock worth $339,000 after acquiring an additional 38 shares in the last quarter. Blue Bell Private Wealth Management LLC lifted its position in shares of JPMorgan Chase & Co. by 1.5% in the fourth quarter. Blue Bell Private Wealth Management LLC now owns 2,594 shares of the financial services provider’s stock worth $622,000 after purchasing an additional 38 shares in the last quarter. Rappaport Reiches Capital Management LLC boosted its holdings in JPMorgan Chase & Co. by 3.8% during the fourth quarter. Rappaport Reiches Capital Management LLC now owns 1,068 shares of the financial services provider’s stock worth $256,000 after purchasing an additional 39 shares during the last quarter. Yoder Wealth Management Inc. increased its stake in JPMorgan Chase & Co. by 2.8% in the 4th quarter. Yoder Wealth Management Inc. now owns 1,436 shares of the financial services provider’s stock valued at $344,000 after buying an additional 39 shares during the last quarter. Finally, Almanack Investment Partners LLC. increased its stake in JPMorgan Chase & Co. by 0.8% in the 4th quarter. Almanack Investment Partners LLC. now owns 5,143 shares of the financial services provider’s stock valued at $1,233,000 after buying an additional 39 shares during the last quarter. Institutional investors own 71.55% of the company’s stock.

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 stock was sold at an average price of $269.84, for a total value of $10,119,000.00. Following the completion of the sale, the chief executive officer now directly owns 158,381 shares in the company, valued at approximately $42,737,529.04. The trade was a 19.14 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, COO Jennifer Piepszak sold 4,272 shares of the business’s stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $247.03, for a total value of $1,055,312.16. Following the completion of the sale, the chief operating officer now owns 50,197 shares of the company’s stock, valued at approximately $12,400,164.91. This trade represents a 7.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 76,848 shares of company stock valued at $19,987,908 in the last quarter. Company insiders own 0.79% of the company’s stock.

JPMorgan Chase & Co. Trading Down 1.1 %

Shares of NYSE:JPM opened at $248.35 on Friday. The stock has a market cap of $694.41 billion, a PE ratio of 12.58, a P/E/G ratio of 2.83 and a beta of 1.10. The company has a quick ratio of 0.89, a current ratio of 0.88 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 business has a 50 day moving average of $257.88 and a 200-day moving average of $240.12.

JPMorgan Chase & Co. (NYSE:JPM) last issued its quarterly earnings data 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. JPMorgan Chase & Co. had a return on equity of 16.99% and a net margin of 20.96%. The firm had revenue of $42.77 billion for the quarter, compared to analyst estimates of $41.90 billion. During the same period in the prior year, the firm posted $3.04 EPS. The company’s revenue for the quarter was up 10.9% on a year-over-year basis. As a group, equities research analysts forecast that JPMorgan Chase & Co. will post 18.1 earnings per share 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 paid a $1.40 dividend. This is a boost 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 annualized dividend and a yield of 2.25%. JPMorgan Chase & Co.’s payout ratio is 28.37%.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on JPM. Keefe, Bruyette & Woods raised their price objective on JPMorgan Chase & Co. from $257.00 to $264.00 and gave the company a “market perform” rating in a report on Thursday, January 16th. Barclays raised their price target on JPMorgan Chase & Co. from $304.00 to $330.00 and gave the company an “overweight” rating in a research note on Thursday, January 16th. Truist Financial upped their price objective on JPMorgan Chase & Co. from $260.00 to $268.00 and gave the stock a “hold” rating in a research note on Thursday, January 16th. Piper Sandler increased their price objective on JPMorgan Chase & Co. from $240.00 to $275.00 and gave the company an “overweight” rating in a report on Tuesday, December 3rd. Finally, Bank of America boosted their target price on shares of JPMorgan Chase & Co. from $260.00 to $280.00 and gave the stock a “buy” rating in a report on Tuesday, January 7th. Ten investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $252.89.

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.