Hennessy Advisors Inc. Decreases Position in JPMorgan Chase & Co. (NYSE:JPM)

Hennessy Advisors Inc. lowered its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 8.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 72,350 shares of the financial services provider’s stock after selling 6,750 shares during the quarter. Hennessy Advisors Inc.’s holdings in JPMorgan Chase & Co. were worth $11,014,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently made changes to their positions in JPM. Morgan Stanley boosted its stake in shares of JPMorgan Chase & Co. by 5.5% in the 4th quarter. Morgan Stanley now owns 39,207,003 shares of the financial services provider’s stock worth $4,982,034,000 after buying an additional 2,044,249 shares during the last quarter. FMR LLC increased its position in shares of JPMorgan Chase & Co. by 4.6% during the 4th quarter. FMR LLC now owns 38,458,423 shares of the financial services provider’s stock valued at $4,886,911,000 after purchasing an additional 1,691,888 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its stake in shares of JPMorgan Chase & Co. by 22.7% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 30,288,837 shares of the financial services provider’s stock worth $3,848,803,000 after purchasing an additional 5,610,076 shares during the period. Norges Bank purchased a new position in shares of JPMorgan Chase & Co. in the fourth quarter worth approximately $3,501,714,000. Finally, Sanders Capital LLC grew its position in JPMorgan Chase & Co. by 364.4% during the fourth quarter. Sanders Capital LLC now owns 12,191,489 shares of the financial services provider’s stock valued at $1,661,572,000 after buying an additional 9,566,427 shares during the period. 69.02% of the stock is currently owned by hedge funds and other institutional investors.

A number of brokerages have recently issued reports on JPM. Zacks Investment Research raised shares of JPMorgan Chase & Co. from a “hold” rating to a “strong-buy” rating and set a $177.00 price objective for the company in a research report on Monday. DZ Bank restated a “buy” rating on shares of JPMorgan Chase & Co. in a research report on Tuesday, April 6th. Bank of America raised JPMorgan Chase & Co. from a “neutral” rating to a “buy” rating in a research report on Wednesday, January 13th. Piper Sandler increased their target price on shares of JPMorgan Chase & Co. from $170.00 to $182.00 and gave the stock an “overweight” rating in a report on Wednesday. Finally, Jefferies Financial Group lifted their price target on shares of JPMorgan Chase & Co. from $157.00 to $177.00 and gave the company a “buy” rating in a report on Thursday, April 15th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $145.23.

Shares of NYSE JPM opened at $150.54 on Thursday. JPMorgan Chase & Co. has a 52-week low of $82.40 and a 52-week high of $161.69. The firm has a market capitalization of $456.45 billion, a price-to-earnings ratio of 19.68, a PEG ratio of 2.87 and a beta of 1.23. The stock has a 50 day moving average price of $153.59 and a 200 day moving average price of $130.48. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.88 and a current ratio of 0.88.

JPMorgan Chase & Co. (NYSE:JPM) last issued its earnings results on Tuesday, April 13th. The financial services provider reported $4.50 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $3.10 by $1.40. The business had revenue of $32.30 billion during the quarter, compared to analysts’ expectations of $29.97 billion. JPMorgan Chase & Co. had a return on equity of 10.85% and a net margin of 19.16%. The business’s revenue for the quarter was up 14.3% compared to the same quarter last year. During the same period in the prior year, the business earned $0.78 EPS. Analysts forecast that JPMorgan Chase & Co. will post 7.83 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 30th. Investors of record on Tuesday, April 6th will be paid a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a yield of 2.39%. The ex-dividend date of this dividend is Monday, April 5th. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is presently 34.35%.

In related news, General Counsel Stacey Friedman sold 16,965 shares of the business’s stock in a transaction that occurred on Thursday, April 15th. The shares were sold at an average price of $150.90, for a total value of $2,560,018.50. Also, CEO Douglas B. Petno sold 22,011 shares of the company’s stock in a transaction on Friday, January 29th. The stock was sold at an average price of $129.84, for a total value of $2,857,908.24. Over the last quarter, insiders have sold 83,141 shares of company stock worth $12,082,545. 0.78% of the stock is owned by company insiders.

JPMorgan Chase & Co. Company Profile

JPMorgan Chase & Co operates as a financial services company worldwide. It operates in 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, auto loan, and leasing services.

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

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