Mackay Shields LLC Has $98.19 Million Position in JPMorgan Chase & Co. (NYSE:JPM)

Mackay Shields LLC lowered its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 12.1% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 704,372 shares of the financial services provider’s stock after selling 97,190 shares during the period. JPMorgan Chase & Co. makes up 0.7% of Mackay Shields LLC’s investment portfolio, making the stock its 16th biggest holding. Mackay Shields LLC’s holdings in JPMorgan Chase & Co. were worth $98,190,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in JPM. LFA Lugano Financial Advisors SA acquired a new position in JPMorgan Chase & Co. in the fourth quarter worth about $26,000. Bridger Capital Management LLC acquired a new position in JPMorgan Chase & Co. in the third quarter worth about $33,000. Eukles Asset Management raised its position in JPMorgan Chase & Co. by 36.5% in the third quarter. Eukles Asset Management now owns 318 shares of the financial services provider’s stock worth $37,000 after purchasing an additional 85 shares in the last quarter. JJJ Advisors Inc. raised its position in JPMorgan Chase & Co. by 87.5% in the third quarter. JJJ Advisors Inc. now owns 375 shares of the financial services provider’s stock worth $44,000 after purchasing an additional 175 shares in the last quarter. Finally, Selective Wealth Management Inc. acquired a new position in JPMorgan Chase & Co. in the third quarter worth about $54,000. 67.38% of the stock is owned by institutional investors and hedge funds.

In other news, General Counsel Stacey Friedman sold 6,441 shares of the stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $137.10, for a total transaction of $883,061.10. Following the sale, the general counsel now directly owns 36,559 shares of the company’s stock, valued at $5,012,238.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Gordon Smith sold 11,800 shares of the stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $137.04, for a total transaction of $1,617,072.00. Following the sale, the chief executive officer now directly owns 425,690 shares in the company, valued at $58,336,557.60. The disclosure for this sale can be found here. Insiders have sold 128,814 shares of company stock worth $17,318,144 over the last three months. 0.76% of the stock is owned by insiders.

Several analysts have weighed in on JPM shares. Morgan Stanley upped their price objective on shares of JPMorgan Chase & Co. from $146.00 to $151.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 15th. Credit Suisse Group upped their price objective on shares of JPMorgan Chase & Co. from $142.00 to $147.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 15th. ValuEngine cut shares of JPMorgan Chase & Co. from a “hold” rating to a “sell” rating in a research note on Tuesday, January 7th. BMO Capital Markets upped their price objective on shares of JPMorgan Chase & Co. from $131.00 to $134.00 and gave the stock a “market perform” rating in a research note on Wednesday. Finally, Piper Sandler upped their price objective on shares of JPMorgan Chase & Co. from $141.00 to $149.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 15th. Two investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and seven have given a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $135.19.

Shares of JPM traded down $5.26 during mid-day trading on Friday, hitting $116.11. 45,929,499 shares of the company traded hands, compared to its average volume of 12,220,960. JPMorgan Chase & Co. has a one year low of $98.09 and a one year high of $141.10. The company has a current ratio of 0.92, a quick ratio of 0.93 and a debt-to-equity ratio of 1.24. The business has a 50-day moving average of $135.46 and a 200 day moving average of $126.64. The stock has a market capitalization of $389.29 billion, a price-to-earnings ratio of 10.83, a PEG ratio of 2.35 and a beta of 1.19.

JPMorgan Chase & Co. (NYSE:JPM) last released its quarterly earnings results on Tuesday, January 14th. The financial services provider reported $2.57 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.32 by $0.25. JPMorgan Chase & Co. had a net margin of 25.49% and a return on equity of 15.19%. The business had revenue of $28.30 billion for the quarter, compared to analysts’ expectations of $27.69 billion. During the same period in the prior year, the firm earned $1.98 earnings per share. JPMorgan Chase & Co.’s revenue was up 8.4% compared to the same quarter last year. As a group, analysts anticipate that JPMorgan Chase & Co. will post 10.78 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Monday, January 6th were paid a dividend of $0.90 per share. The ex-dividend date was Friday, January 3rd. This represents a $3.60 annualized dividend and a dividend yield of 3.10%. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is currently 34.35%.

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 and investment products and services to consumers; lending, deposit, and cash management and payment solutions to small businesses; mortgage origination and servicing activities; residential mortgages and home equity loans; and credit card, payment processing, auto loan, and leasing services.

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Institutional Ownership by Quarter for JPMorgan Chase & Co. (NYSE:JPM)

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