Next Capital Management LLC Cuts Position in JPMorgan Chase & Co. (NYSE:JPM)

Next Capital Management LLC reduced its stake in JPMorgan Chase & Co. (NYSE:JPM) by 14.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,670 shares of the financial services provider’s stock after selling 608 shares during the quarter. Next Capital Management LLC’s holdings in JPMorgan Chase & Co. were worth $880,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in JPM. Principal Financial Group Inc. lifted its stake in shares of JPMorgan Chase & Co. by 3.2% in the third quarter. Principal Financial Group Inc. now owns 5,824,289 shares of the financial services provider’s stock worth $1,228,110,000 after buying an additional 182,648 shares in the last quarter. United Bank raised its holdings in JPMorgan Chase & Co. by 2.5% in the 3rd quarter. United Bank now owns 25,354 shares of the financial services provider’s stock worth $5,346,000 after acquiring an additional 614 shares during the last quarter. GenTrust LLC lifted its position in JPMorgan Chase & Co. by 75.6% in the 3rd quarter. GenTrust LLC now owns 6,669 shares of the financial services provider’s stock valued at $1,406,000 after acquiring an additional 2,871 shares in the last quarter. Nicolet Advisory Services LLC lifted its position in JPMorgan Chase & Co. by 0.7% in the 3rd quarter. Nicolet Advisory Services LLC now owns 65,417 shares of the financial services provider’s stock valued at $13,426,000 after acquiring an additional 444 shares in the last quarter. Finally, Certified Advisory Corp increased its holdings in shares of JPMorgan Chase & Co. by 1.0% in the 3rd quarter. Certified Advisory Corp now owns 23,012 shares of the financial services provider’s stock worth $4,852,000 after purchasing an additional 234 shares in the last quarter. Hedge funds and other institutional investors own 71.55% of the company’s stock.

Analysts Set New Price Targets

JPM has been the topic of a number of research analyst reports. UBS Group upped 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. Piper Sandler raised their price target on shares of JPMorgan Chase & Co. from $240.00 to $275.00 and gave the company an “overweight” rating in a report on Tuesday, December 3rd. Bank of America boosted their price objective on shares of JPMorgan Chase & Co. from $260.00 to $280.00 and gave the company a “buy” rating in a report on Tuesday, January 7th. Robert W. Baird raised shares of JPMorgan Chase & Co. from an “underperform” rating to a “neutral” rating and lifted their target price for the stock from $215.00 to $220.00 in a research report on Friday, March 7th. Finally, Baird R W upgraded shares of JPMorgan Chase & Co. from a “strong sell” rating to a “hold” rating in a research note on Friday, March 7th. Ten research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $252.89.

Insider Activity at JPMorgan Chase & Co.

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

JPMorgan Chase & Co. Trading Down 0.1 %

JPM stock opened at $250.99 on Thursday. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.88 and a quick ratio of 0.89. JPMorgan Chase & Co. has a 1-year low of $179.20 and a 1-year high of $280.25. The business has a 50 day simple moving average of $257.99 and a two-hundred day simple moving average of $240.06. The company has a market capitalization of $701.79 billion, a price-to-earnings ratio of 12.71, a PEG ratio of 2.83 and a beta of 1.10.

JPMorgan Chase & Co. (NYSE:JPM) last issued its earnings results on Wednesday, January 15th. The financial services provider reported $4.81 earnings per share for the quarter, topping analysts’ consensus estimates of $4.03 by $0.78. The firm had revenue of $42.77 billion during the quarter, compared to analyst estimates of $41.90 billion. JPMorgan Chase & Co. had a net margin of 20.96% and a return on equity of 16.99%. JPMorgan Chase & Co.’s revenue for the quarter was up 10.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $3.04 earnings per share. Research analysts anticipate that JPMorgan Chase & Co. will post 18.1 EPS for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

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

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.