Beech Hill Advisors Inc. Lowers Position in JPMorgan Chase & Co. (NYSE:JPM)

Beech Hill Advisors Inc. trimmed its position in shares of JPMorgan Chase & Co. (NYSE:JPM) by 21.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,803 shares of the financial services provider’s stock after selling 4,083 shares during the quarter. JPMorgan Chase & Co. makes up about 1.3% of Beech Hill Advisors Inc.’s portfolio, making the stock its 29th biggest holding. Beech Hill Advisors Inc.’s holdings in JPMorgan Chase & Co. were worth $3,548,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the company. JPMorgan Chase & Co. grew its holdings in JPMorgan Chase & Co. by 7.7% in the third quarter. JPMorgan Chase & Co. now owns 4,450,775 shares of the financial services provider’s stock valued at $938,491,000 after purchasing an additional 319,730 shares during the period. Sageworth Trust Co grew its stake in JPMorgan Chase & Co. by 37.9% in the 3rd quarter. Sageworth Trust Co now owns 2,860 shares of the financial services provider’s stock valued at $603,000 after acquiring an additional 786 shares during the period. Kingsview Wealth Management LLC increased its holdings in JPMorgan Chase & Co. by 2.5% in the 3rd quarter. Kingsview Wealth Management LLC now owns 118,095 shares of the financial services provider’s stock worth $24,902,000 after acquiring an additional 2,839 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in JPMorgan Chase & Co. by 16.0% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 692,809 shares of the financial services provider’s stock worth $143,594,000 after acquiring an additional 95,461 shares during the period. Finally, Zions Bancorporation N.A. grew its position in shares of JPMorgan Chase & Co. by 2.5% in the third quarter. Zions Bancorporation N.A. now owns 11,157 shares of the financial services provider’s stock valued at $2,353,000 after purchasing an additional 267 shares during the period. 71.55% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, General Counsel Stacey Friedman sold 3,303 shares of JPMorgan Chase & Co. stock in a transaction that occurred on Thursday, January 16th. The shares were sold at an average price of $253.94, for a total value of $838,763.82. Following the completion of the sale, the general counsel now owns 47,620 shares in the company, valued at approximately $12,092,622.80. This trade represents a 6.49 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.79% of the company’s stock.

Analyst Upgrades and Downgrades

JPM has been the topic of a number of research reports. Wells Fargo & Company raised their price target on shares of JPMorgan Chase & Co. from $240.00 to $270.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. Bank of America raised their target price on JPMorgan Chase & Co. from $260.00 to $280.00 and gave the company a “buy” rating in a research report on Tuesday, January 7th. Robert W. Baird cut JPMorgan Chase & Co. from a “neutral” rating to an “underperform” rating and set a $200.00 price target for the company. in a research report on Thursday, November 7th. Piper Sandler raised 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. Finally, Barclays upped their target price on shares of JPMorgan Chase & Co. from $304.00 to $330.00 and gave the stock an “overweight” rating in a report on Thursday. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $251.78.

JPMorgan Chase & Co. Trading Up 2.0 %

JPM opened at $259.46 on Friday. The stock has a market capitalization of $730.47 billion, a PE ratio of 14.44, a P/E/G ratio of 3.16 and a beta of 1.11. JPMorgan Chase & Co. has a one year low of $165.24 and a one year high of $260.62. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.89 and a current ratio of 0.89. The business’s 50 day moving average price is $243.06 and its 200 day moving average price is $223.93.

JPMorgan Chase & Co. (NYSE:JPM) last announced its quarterly 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. The business had revenue of $42.77 billion for the quarter, compared to analyst estimates of $41.90 billion. JPMorgan Chase & Co. had a return on equity of 16.71% and a net margin of 19.64%. The company’s quarterly revenue was up 10.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $3.04 EPS. As a group, equities research analysts expect that JPMorgan Chase & Co. will post 17.46 EPS for the current year.

JPMorgan Chase & Co. Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Monday, January 6th will be given a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a dividend yield of 1.93%. The ex-dividend date is Monday, January 6th. JPMorgan Chase & Co.’s dividend payout ratio is presently 25.33%.

JPMorgan Chase & Co. Company 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.