Providence Wealth Advisors LLC Reduces Holdings in JPMorgan Chase & Co. (NYSE:JPM)

Providence Wealth Advisors LLC cut its position in JPMorgan Chase & Co. (NYSE:JPM) by 2.9% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 20,800 shares of the financial services provider’s stock after selling 629 shares during the quarter. JPMorgan Chase & Co. makes up approximately 3.9% of Providence Wealth Advisors LLC’s investment portfolio, making the stock its 5th largest holding. Providence Wealth Advisors LLC’s holdings in JPMorgan Chase & Co. were worth $5,028,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of JPM. Sellwood Investment Partners LLC acquired a new position in JPMorgan Chase & Co. in the 4th quarter worth approximately $34,000. Midwest Capital Advisors LLC purchased a new position in shares of JPMorgan Chase & Co. during the fourth quarter worth $43,000. Collier Financial acquired a new position in JPMorgan Chase & Co. during the fourth quarter valued at $45,000. Lowe Wealth Advisors LLC boosted its holdings in JPMorgan Chase & Co. by 34.0% in the fourth quarter. Lowe Wealth Advisors LLC now owns 201 shares of the financial services provider’s stock valued at $48,000 after purchasing an additional 51 shares during the last quarter. Finally, Kieckhefer Group LLC acquired a new stake in JPMorgan Chase & Co. during the 4th quarter worth about $50,000. 71.55% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on JPM shares. UBS Group upped their target price on JPMorgan Chase & Co. from $276.00 to $287.00 and gave the stock a “buy” rating in a research note on Thursday, January 16th. Baird R W raised shares of JPMorgan Chase & Co. from a “strong sell” rating to a “hold” rating in a report on Friday, March 7th. Keefe, Bruyette & Woods increased their price target on shares of JPMorgan Chase & Co. from $257.00 to $264.00 and gave the stock a “market perform” rating in a report on Thursday, January 16th. Barclays upped their price objective on shares of JPMorgan Chase & Co. from $304.00 to $330.00 and gave the stock an “overweight” rating in a research report on Thursday, January 16th. Finally, Piper Sandler raised their target price on JPMorgan Chase & Co. from $240.00 to $275.00 and gave the company an “overweight” rating in a research report on Tuesday, December 3rd. Ten analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $254.83.

Insider Activity at JPMorgan Chase & Co.

In related news, General Counsel Stacey Friedman sold 3,303 shares of the stock in a transaction that occurred on Thursday, January 16th. The stock was sold at an average price of $253.94, for a total value of $838,763.82. Following the completion of the transaction, the general counsel now directly owns 47,620 shares in the company, valued at approximately $12,092,622.80. This represents a 6.49 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Troy L. Rohrbaugh sold 37,500 shares of JPMorgan Chase & Co. stock in a transaction on Thursday, February 20th. The shares were 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 owns 158,381 shares in the company, valued at $42,737,529.04. This represents a 19.14 % decrease in their position. 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. 0.79% of the stock is currently owned by insiders.

JPMorgan Chase & Co. Stock Down 0.7 %

Shares of JPM opened at $243.58 on Wednesday. The stock has a 50 day moving average price of $256.88 and a 200 day moving average price of $241.33. JPMorgan Chase & Co. has a one year low of $179.20 and a one year 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 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.

JPMorgan Chase & Co. (NYSE:JPM) last released its earnings results on Wednesday, January 15th. The financial services provider reported $4.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.03 by $0.78. The business 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%. The company’s revenue for the quarter was up 10.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $3.04 earnings per share. Equities research analysts forecast that JPMorgan Chase & Co. will post 18.1 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders 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. This represents a $5.60 annualized dividend and a dividend yield of 2.30%. The ex-dividend date of this dividend is Friday, April 4th. JPMorgan Chase & Co.’s payout ratio is currently 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.