Congress Asset Management Co. MA Decreases Position in JPMorgan Chase & Co. (NYSE:JPM)

Congress Asset Management Co. MA cut its stake in JPMorgan Chase & Co. (NYSE:JPM) by 4.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 107,103 shares of the financial services provider’s stock after selling 4,964 shares during the quarter. Congress Asset Management Co. MA’s holdings in JPMorgan Chase & Co. were worth $18,218,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Oarsman Capital Inc. lifted its stake in JPMorgan Chase & Co. by 0.5% in the 4th quarter. Oarsman Capital Inc. now owns 11,008 shares of the financial services provider’s stock valued at $1,872,000 after buying an additional 59 shares in the last quarter. Curbstone Financial Management Corp lifted its stake in JPMorgan Chase & Co. by 0.3% in the 4th quarter. Curbstone Financial Management Corp now owns 23,930 shares of the financial services provider’s stock worth $4,070,000 after purchasing an additional 60 shares in the last quarter. Grey Street Capital LLC lifted its stake in JPMorgan Chase & Co. by 0.9% in the 4th quarter. Grey Street Capital LLC now owns 6,994 shares of the financial services provider’s stock worth $1,190,000 after purchasing an additional 60 shares in the last quarter. Intrepid Capital Management Inc. lifted its stake in JPMorgan Chase & Co. by 5.4% in the 4th quarter. Intrepid Capital Management Inc. now owns 1,178 shares of the financial services provider’s stock worth $200,000 after purchasing an additional 60 shares in the last quarter. Finally, Financial Management Network Inc. lifted its stake in JPMorgan Chase & Co. by 0.8% in the 4th quarter. Financial Management Network Inc. now owns 7,523 shares of the financial services provider’s stock worth $1,296,000 after purchasing an additional 61 shares in the last quarter. 71.55% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider Lori A. Beer sold 3,920 shares of the company’s stock in a transaction dated Monday, March 25th. The shares were sold at an average price of $195.36, for a total value of $765,811.20. Following the completion of the sale, the insider now directly owns 64,783 shares of the company’s stock, valued at $12,656,006.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, insider Ashley Bacon sold 5,086 shares of the business’s stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $199.54, for a total transaction of $1,014,860.44. Following the transaction, the insider now directly owns 212,265 shares in the company, valued at $42,355,358.10. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Lori A. Beer sold 3,920 shares of the business’s stock in a transaction dated Monday, March 25th. The stock was sold at an average price of $195.36, for a total transaction of $765,811.20. Following the transaction, the insider now owns 64,783 shares in the company, valued at $12,656,006.88. The disclosure for this sale can be found here. Over the last three months, insiders sold 254,485 shares of company stock valued at $47,728,528. Insiders own 0.79% of the company’s stock.

JPMorgan Chase & Co. Stock Up 0.1 %

Shares of JPMorgan Chase & Co. stock traded up $0.12 during trading on Friday, hitting $193.78. 6,874,029 shares of the stock were exchanged, compared to its average volume of 8,653,904. The stock has a market cap of $556.47 billion, a price-to-earnings ratio of 11.70, a price-to-earnings-growth ratio of 2.61 and a beta of 1.12. The firm’s 50-day moving average price is $194.90 and its 200 day moving average price is $183.47. JPMorgan Chase & Co. has a 12-month low of $135.19 and a 12-month high of $205.88. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.92 and a quick ratio of 0.92.

JPMorgan Chase & Co. (NYSE:JPM) last announced its quarterly earnings results on Friday, April 12th. The financial services provider reported $4.63 earnings per share for the quarter, beating analysts’ consensus estimates of $4.18 by $0.45. JPMorgan Chase & Co. had a net margin of 20.05% and a return on equity of 17.79%. The firm had revenue of $41.93 billion during the quarter, compared to analysts’ expectations of $40.90 billion. As a group, analysts forecast that JPMorgan Chase & Co. will post 16.41 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Friday, July 5th will be issued a $1.15 dividend. The ex-dividend date is Friday, July 5th. This represents a $4.60 dividend on an annualized basis and a dividend yield of 2.37%. JPMorgan Chase & Co.’s payout ratio is 27.78%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Royal Bank of Canada reissued an “outperform” rating and issued a $211.00 target price on shares of JPMorgan Chase & Co. in a research note on Tuesday, May 21st. Jefferies Financial Group raised their target price on shares of JPMorgan Chase & Co. from $202.00 to $228.00 and gave the stock a “buy” rating in a research note on Monday, April 8th. Wells Fargo & Company lifted their price target on shares of JPMorgan Chase & Co. from $200.00 to $220.00 and gave the company an “overweight” rating in a research report on Wednesday, March 20th. Keefe, Bruyette & Woods lifted their price target on shares of JPMorgan Chase & Co. from $203.00 to $209.00 and gave the company a “market perform” rating in a research report on Tuesday, May 21st. Finally, Piper Sandler lifted their price target on shares of JPMorgan Chase & Co. from $215.00 to $220.00 and gave the company an “overweight” rating in a research report on Tuesday, May 21st. Nine analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, JPMorgan Chase & Co. presently has an average rating of “Moderate Buy” and a consensus target price of $194.10.

JPMorgan Chase & Co. Profile

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; mortgage origination and servicing activities; residential mortgages and home equity loans; and credit cards, auto loans, leases, and travel services to consumers and small businesses through bank branches, ATMs, and digital and telephone banking.