Sugarloaf Wealth Management LLC Trims Holdings in JPMorgan Chase & Co. (NYSE:JPM)

Sugarloaf Wealth Management LLC lessened its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 13.5% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 18,886 shares of the financial services provider’s stock after selling 2,958 shares during the quarter. JPMorgan Chase & Co. comprises about 0.8% of Sugarloaf Wealth Management LLC’s holdings, making the stock its 20th biggest holding. Sugarloaf Wealth Management LLC’s holdings in JPMorgan Chase & Co. were worth $4,527,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Mizuho Securities Co. Ltd. purchased a new stake in JPMorgan Chase & Co. during the 3rd quarter valued at approximately $25,000. Catalyst Capital Advisors LLC acquired a new position in shares of JPMorgan Chase & Co. during the 3rd quarter worth $27,000. Fairway Wealth LLC acquired a new stake in shares of JPMorgan Chase & Co. during the 2nd quarter valued at approximately $32,000. West Financial Advisors LLC purchased a new stake in JPMorgan Chase & Co. during the third quarter worth $37,000. Finally, New England Capital Financial Advisors LLC grew its stake in JPMorgan Chase & Co. by 38.5% in the 3rd quarter. New England Capital Financial Advisors LLC now owns 180 shares of the financial services provider’s stock valued at $38,000 after acquiring an additional 50 shares during the last quarter. Hedge funds and other institutional investors own 71.55% of the company’s stock.

Wall Street Analysts Forecast Growth

JPM has been the topic of a number of recent research reports. Piper Sandler upped their target price 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. Barclays lifted their price target on shares of JPMorgan Chase & Co. from $257.00 to $304.00 and gave the company an “overweight” rating in a research report on Monday. Royal Bank of Canada upped their target price on JPMorgan Chase & Co. from $211.00 to $230.00 and gave the stock an “outperform” rating in a research report on Monday, October 14th. Baird R W lowered shares of JPMorgan Chase & Co. from a “hold” rating to a “strong sell” rating in a report on Thursday, November 7th. Finally, Daiwa Capital Markets dropped their target price on shares of JPMorgan Chase & Co. from $240.00 to $235.00 and set an “overweight” rating for the company in a research report on Thursday, October 10th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $245.83.

JPMorgan Chase & Co. Trading Down 1.1 %

JPM traded down $2.79 during mid-day trading on Friday, hitting $240.34. The stock had a trading volume of 6,152,731 shares, compared to its average volume of 8,669,762. The stock’s fifty day simple moving average is $241.25 and its 200-day simple moving average is $222.25. The company has a debt-to-equity ratio of 1.27, a current ratio of 0.89 and a quick ratio of 0.89. The firm has a market capitalization of $676.64 billion, a price-to-earnings ratio of 13.37, a price-to-earnings-growth ratio of 3.54 and a beta of 1.11. JPMorgan Chase & Co. has a 1-year low of $164.30 and a 1-year high of $254.31.

JPMorgan Chase & Co. (NYSE:JPM) last announced its earnings results on Friday, October 11th. The financial services provider reported $4.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.02 by $0.35. The business had revenue of $43.32 billion for the quarter, compared to analyst estimates of $41.43 billion. JPMorgan Chase & Co. had a return on equity of 16.71% and a net margin of 19.64%. During the same quarter last year, the firm earned $4.33 EPS. JPMorgan Chase & Co.’s revenue for the quarter was up 6.5% compared to the same quarter last year. As a group, research analysts forecast that JPMorgan Chase & Co. will post 17.62 EPS for the current fiscal year.

JPMorgan Chase & Co. Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Monday, January 6th will be issued a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.08%. The ex-dividend date of this dividend is Monday, January 6th. JPMorgan Chase & Co.’s payout ratio is presently 27.82%.

About JPMorgan Chase & Co.

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.