Weik Capital Management Sells 252 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Weik Capital Management lessened its position in shares of JPMorgan Chase & Co. (NYSE:JPM) by 1.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,630 shares of the financial services provider’s stock after selling 252 shares during the period. JPMorgan Chase & Co. comprises 1.4% of Weik Capital Management’s holdings, making the stock its 20th largest position. Weik Capital Management’s holdings in JPMorgan Chase & Co. were worth $3,507,000 as of its most recent filing with the Securities and Exchange Commission.

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

Insider Activity

In other news, CEO Troy L. Rohrbaugh sold 25,000 shares of the stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $247.02, for a total value of $6,175,500.00. Following the completion of the sale, the chief executive officer now 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 accessible through the SEC website. Also, COO Jennifer Piepszak sold 4,273 shares of JPMorgan Chase & Co. stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $269.85, for a total value of $1,153,069.05. Following the completion of the transaction, the chief operating officer now directly owns 54,469 shares in the company, valued at approximately $14,698,459.65. This represents a 7.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 76,848 shares of company stock valued at $19,987,908. Insiders own 0.79% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently commented on JPM. Robert W. Baird upgraded shares of JPMorgan Chase & Co. from an “underperform” rating to a “neutral” rating and upped their price target for the company from $215.00 to $220.00 in a research note on Friday, March 7th. Evercore ISI decreased their target price on shares of JPMorgan Chase & Co. from $273.00 to $265.00 and set an “outperform” rating on the stock in a research report on Tuesday. UBS Group lifted their price target on shares of JPMorgan Chase & Co. from $276.00 to $287.00 and gave the company a “buy” rating in a research report on Thursday, January 16th. Bank of America boosted their price target on JPMorgan Chase & Co. from $260.00 to $280.00 and gave the company a “buy” rating in a research note on Tuesday, January 7th. Finally, Piper Sandler lifted 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. Ten investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat, JPMorgan Chase & Co. has an average rating of “Moderate Buy” and a consensus target price of $254.83.

JPMorgan Chase & Co. Stock Down 0.7 %

Shares of JPM opened at $243.58 on Wednesday. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.89 and a current ratio of 0.88. JPMorgan Chase & Co. has a 52 week low of $179.20 and a 52 week high of $280.25. The stock has a market capitalization of $681.06 billion, a price-to-earnings ratio of 12.34, a PEG ratio of 2.83 and a beta of 1.10. The stock has a fifty day moving average of $256.88 and a 200-day moving average of $241.33.

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

JPMorgan Chase & Co. Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Friday, April 4th will be issued a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a yield of 2.30%. This is a positive change from JPMorgan Chase & Co.’s previous quarterly dividend of $1.25. The ex-dividend date of this dividend is Friday, April 4th. JPMorgan Chase & Co.’s payout ratio is presently 28.37%.

JPMorgan Chase & Co. Company Profile

JPMorgan Chase & Co is a financial holding company, which engages in the provision of financial and investment banking services. It focuses on investment banking, financial services for consumers and small businesses, commercial banking, financial transaction processing, and asset management. It operates through the following segments: Consumer and Community Banking (CCB), Commercial and Investment Bank (CIB), Asset and Wealth Management (AWM), and Corporate.