Rockland Trust Co. Sells 28,832 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Rockland Trust Co. cut its position in JPMorgan Chase & Co. (NYSE:JPM) by 15.2% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 160,694 shares of the financial services provider’s stock after selling 28,832 shares during the quarter. JPMorgan Chase & Co. makes up approximately 2.0% of Rockland Trust Co.’s investment portfolio, making the stock its 14th largest holding. Rockland Trust Co.’s holdings in JPMorgan Chase & Co. were worth $38,520,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of JPM. Eagle Capital Management LLC increased its position in JPMorgan Chase & Co. by 0.4% during the 2nd quarter. Eagle Capital Management LLC now owns 21,867 shares of the financial services provider’s stock valued at $4,423,000 after buying an additional 84 shares in the last quarter. Fiera Capital Corp increased its holdings in shares of JPMorgan Chase & Co. by 1.7% during the second quarter. Fiera Capital Corp now owns 3,738 shares of the financial services provider’s stock valued at $756,000 after acquiring an additional 63 shares in the last quarter. PFG Advisors increased its holdings in shares of JPMorgan Chase & Co. by 1.7% during the second quarter. PFG Advisors now owns 37,494 shares of the financial services provider’s stock valued at $7,584,000 after acquiring an additional 623 shares in the last quarter. Wealthgarden F.S. LLC purchased a new position in shares of JPMorgan Chase & Co. in the 2nd quarter valued at approximately $631,000. Finally, Lansing Street Advisors boosted its stake in JPMorgan Chase & Co. by 7.2% in the 2nd quarter. Lansing Street Advisors now owns 2,112 shares of the financial services provider’s stock worth $427,000 after purchasing an additional 142 shares in the last quarter. 71.55% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. Truist Financial assumed coverage on shares of JPMorgan Chase & Co. in a report on Tuesday, January 7th. They issued a “hold” rating and a $260.00 price target for the company. Baird R W lowered JPMorgan Chase & Co. from a “hold” rating to a “strong sell” rating in a research note on Thursday, November 7th. Daiwa Capital Markets cut their price objective on JPMorgan Chase & Co. from $240.00 to $235.00 and set an “overweight” rating on the stock in a report on Thursday, October 10th. Royal Bank of Canada raised their price objective on JPMorgan Chase & Co. from $211.00 to $230.00 and gave the stock an “outperform” rating in a research note on Monday, October 14th. Finally, Keefe, Bruyette & Woods upped their target price on JPMorgan Chase & Co. from $216.00 to $254.00 and gave the company a “market perform” rating in a research report on Tuesday, December 3rd. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $245.83.

JPMorgan Chase & Co. Price Performance

Shares of JPMorgan Chase & Co. stock opened at $252.22 on Thursday. The firm has a market cap of $710.09 billion, a PE ratio of 14.04, a P/E/G ratio of 3.54 and a beta of 1.11. JPMorgan Chase & Co. has a twelve month low of $164.30 and a twelve month high of $254.31. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 1.27. The business has a 50-day moving average price of $242.60 and a 200 day moving average price of $223.51.

JPMorgan Chase & Co. (NYSE:JPM) last posted its quarterly earnings data on Wednesday, January 15th. The financial services provider reported $4.81 EPS for the quarter, beating analysts’ consensus estimates of $4.03 by $0.78. JPMorgan Chase & Co. had a return on equity of 16.71% and a net margin of 19.64%. The business had revenue of $42.77 billion during the quarter, compared to analysts’ expectations of $41.90 billion. During the same period in the previous year, the business earned $3.04 earnings per share. The business’s revenue was up 10.9% compared to the same quarter last year. Sell-side analysts predict that JPMorgan Chase & Co. will post 17.62 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Monday, January 6th will be issued a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a yield of 1.98%. The ex-dividend date of this dividend is Monday, January 6th. JPMorgan Chase & Co.’s payout ratio is 27.82%.

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.