Oak Asset Management LLC Reduces Position in JPMorgan Chase & Co. (NYSE:JPM)

Oak Asset Management LLC cut its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 0.8% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 18,067 shares of the financial services provider’s stock after selling 151 shares during the quarter. JPMorgan Chase & Co. accounts for about 1.6% of Oak Asset Management LLC’s investment portfolio, making the stock its 15th biggest holding. Oak Asset Management LLC’s holdings in JPMorgan Chase & Co. were worth $4,331,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Ignite Planners LLC boosted its holdings in JPMorgan Chase & Co. by 0.8% in the fourth quarter. Ignite Planners LLC now owns 9,994 shares of the financial services provider’s stock valued at $2,431,000 after purchasing an additional 78 shares during the last quarter. Tlwm boosted its holdings in JPMorgan Chase & Co. by 4.6% in the fourth quarter. Tlwm now owns 8,290 shares of the financial services provider’s stock valued at $1,987,000 after purchasing an additional 368 shares during the last quarter. McNaughton Wealth Management LLC boosted its holdings in JPMorgan Chase & Co. by 0.9% in the fourth quarter. McNaughton Wealth Management LLC now owns 6,014 shares of the financial services provider’s stock valued at $1,442,000 after purchasing an additional 53 shares during the last quarter. Tuttle Capital Management LLC boosted its holdings in JPMorgan Chase & Co. by 34.5% in the fourth quarter. Tuttle Capital Management LLC now owns 1,996 shares of the financial services provider’s stock valued at $478,000 after purchasing an additional 512 shares during the last quarter. Finally, Fortis Advisors LLC purchased a new stake in JPMorgan Chase & Co. in the fourth quarter valued at $259,000. 71.55% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on JPM shares. Piper Sandler upped their price target on shares of JPMorgan Chase & Co. from $240.00 to $275.00 and gave the company an “overweight” rating in a report on Tuesday, December 3rd. Royal Bank of Canada increased their target price on shares of JPMorgan Chase & Co. from $211.00 to $230.00 and gave the stock an “outperform” rating in a research note on Monday, October 14th. Oppenheimer lowered shares of JPMorgan Chase & Co. from an “outperform” rating to a “market perform” rating in a research note on Wednesday, November 20th. Baird R W lowered shares of JPMorgan Chase & Co. from a “hold” rating to a “strong sell” rating in a research note on Thursday, November 7th. Finally, Bank of America increased their target price on shares of JPMorgan Chase & Co. from $260.00 to $280.00 and gave the stock a “buy” rating in a research note on Tuesday, January 7th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $245.83.

JPMorgan Chase & Co. Stock Up 1.9 %

JPM stock opened at $252.22 on Thursday. The company has a market cap of $710.09 billion, a price-to-earnings ratio of 14.04, a PEG ratio of 3.54 and a beta of 1.11. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 1.27. JPMorgan Chase & Co. has a 12 month low of $164.30 and a 12 month high of $254.31. The firm has a 50-day moving average of $242.60 and a two-hundred day moving average of $223.51.

JPMorgan Chase & Co. (NYSE:JPM) last released 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. The company 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 19.64% and a return on equity of 16.71%. JPMorgan Chase & Co.’s quarterly revenue was up 10.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.04 EPS. As a group, analysts forecast that JPMorgan Chase & Co. will post 17.62 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Announces Dividend

The firm 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 $1.25 dividend. The ex-dividend date of this dividend is Monday, January 6th. This represents a $5.00 dividend on an annualized basis and a yield of 1.98%. JPMorgan Chase & Co.’s payout ratio is 27.82%.

JPMorgan Chase & Co. 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.