Cornercap Investment Counsel Inc. Trims Stock Holdings in JPMorgan Chase & Co. (NYSE:JPM)

Cornercap Investment Counsel Inc. cut its position in JPMorgan Chase & Co. (NYSE:JPM) by 3.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 10,875 shares of the financial services provider’s stock after selling 385 shares during the quarter. JPMorgan Chase & Co. accounts for about 0.8% of Cornercap Investment Counsel Inc.’s holdings, making the stock its 7th biggest holding. Cornercap Investment Counsel Inc.’s holdings in JPMorgan Chase & Co. were worth $2,607,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in JPM. DDD Partners LLC raised its holdings in JPMorgan Chase & Co. by 2.8% during the fourth quarter. DDD Partners LLC now owns 1,416 shares of the financial services provider’s stock worth $339,000 after buying an additional 38 shares during the last quarter. Blue Bell Private Wealth Management LLC increased its position in shares of JPMorgan Chase & Co. by 1.5% during 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 acquiring an additional 38 shares in the last quarter. Rappaport Reiches Capital Management LLC raised its holdings in shares of 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 worth $256,000 after acquiring an additional 39 shares during the last quarter. Yoder Wealth Management Inc. lifted its position 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 acquiring an additional 39 shares in the last quarter. Finally, Almanack Investment Partners LLC. boosted its stake in JPMorgan Chase & Co. by 0.8% during 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 purchasing an additional 39 shares during the last quarter. 71.55% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on JPM. Robert W. Baird raised JPMorgan Chase & Co. from an “underperform” rating to a “neutral” rating and increased their price objective for the stock from $215.00 to $220.00 in a research note on Friday, March 7th. Evercore ISI cut their price objective on shares of JPMorgan Chase & Co. from $273.00 to $265.00 and set an “outperform” rating on the stock in a report on Tuesday. 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. Truist Financial boosted their price target on shares of JPMorgan Chase & Co. from $260.00 to $268.00 and gave the stock a “hold” rating in a report on Thursday, January 16th. Finally, Bank of America decreased their price objective on shares of JPMorgan Chase & Co. from $285.00 to $284.00 and set a “buy” rating for the company in a research note on Wednesday. Ten 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. presently has a consensus rating of “Moderate Buy” and a consensus target price of $255.06.

Insiders Place Their Bets

In other news, insider Robin Leopold sold 1,250 shares of the company’s stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $246.92, for a total transaction of $308,650.00. Following the sale, the insider now directly owns 49,127 shares in the company, valued at $12,130,438.84. This represents a 2.48 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, COO Jennifer Piepszak sold 4,273 shares of the firm’s stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $269.85, for a total transaction of $1,153,069.05. Following the completion of the transaction, the chief operating officer now owns 54,469 shares of the company’s stock, valued at $14,698,459.65. This trade represents a 7.27 % 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 worth $19,987,908 over the last 90 days. Corporate insiders own 0.79% of the company’s stock.

JPMorgan Chase & Co. Trading Up 1.0 %

Shares of JPMorgan Chase & Co. stock opened at $246.10 on Thursday. The stock has a market capitalization of $688.12 billion, a P/E ratio of 12.47, a P/E/G ratio of 2.83 and a beta of 1.10. JPMorgan Chase & Co. has a 52-week low of $179.20 and a 52-week high of $280.25. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.89 and a current ratio of 0.88. The stock’s 50-day simple moving average is $256.54 and its 200 day simple moving average is $241.36.

JPMorgan Chase & Co. (NYSE:JPM) last posted its earnings results on Wednesday, January 15th. The financial services provider reported $4.81 earnings per share for the quarter, topping the consensus estimate of $4.03 by $0.78. The firm had revenue of $42.77 billion during the quarter, compared to the consensus estimate of $41.90 billion. JPMorgan Chase & Co. had a net margin of 20.96% and a return on equity of 16.99%. The company’s revenue was up 10.9% on a year-over-year basis. During the same quarter last year, the company earned $3.04 earnings per share. As a group, research analysts anticipate that JPMorgan Chase & Co. will post 18.1 EPS for the current 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 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 dividend on an annualized basis and a yield of 2.28%. JPMorgan Chase & Co.’s payout ratio is presently 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. 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.