Indiana Trust & Investment Management CO cut its stake in JPMorgan Chase & Co. (NYSE:JPM) by 5.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 23,695 shares of the financial services provider’s stock after selling 1,414 shares during the quarter. JPMorgan Chase & Co. comprises approximately 1.9% of Indiana Trust & Investment Management CO’s holdings, making the stock its 12th largest holding. Indiana Trust & Investment Management CO’s holdings in JPMorgan Chase & Co. were worth $3,607,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently modified their holdings of the company. Cypress Point Wealth Management LLC bought a new stake in JPMorgan Chase & Co. in the fourth quarter worth $25,000. Inspire Advisors LLC purchased a new stake in JPMorgan Chase & Co. in the fourth quarter worth $27,000. Retirement Group LLC purchased a new stake in JPMorgan Chase & Co. in the fourth quarter worth $29,000. TFO TDC LLC increased its stake in JPMorgan Chase & Co. by 107.6% in the fourth quarter. TFO TDC LLC now owns 357 shares of the financial services provider’s stock worth $45,000 after purchasing an additional 185 shares during the period. Finally, Valley Forge Investment Consultants Inc. ADV purchased a new stake in JPMorgan Chase & Co. in the fourth quarter worth $48,000. Institutional investors own 69.02% of the company’s stock.
JPM traded down $0.98 on Thursday, hitting $153.95. The company had a trading volume of 499,325 shares, compared to its average volume of 15,497,205. The stock has a fifty day moving average price of $152.02 and a 200-day moving average price of $126.38. JPMorgan Chase & Co. has a 12-month low of $82.40 and a 12-month high of $161.69. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.88 and a current ratio of 0.88. The stock has a market capitalization of $469.78 billion, a price-to-earnings ratio of 20.25, a P/E/G ratio of 2.87 and a beta of 1.23.
The firm also recently declared a quarterly dividend, which will be paid on Friday, April 30th. Shareholders of record on Tuesday, April 6th will be issued a $0.90 dividend. This represents a $3.60 annualized dividend and a yield of 2.34%. The ex-dividend date is Monday, April 5th. JPMorgan Chase & Co.’s dividend payout ratio is presently 34.35%.
A number of research firms have weighed in on JPM. Zacks Investment Research lowered JPMorgan Chase & Co. from a “buy” rating to a “hold” rating and set a $135.00 target price on the stock. in a research note on Monday, February 1st. Credit Suisse Group increased their target price on JPMorgan Chase & Co. from $150.00 to $165.00 and gave the stock an “outperform” rating in a research note on Monday, March 29th. Keefe, Bruyette & Woods increased their target price on JPMorgan Chase & Co. from $135.00 to $150.00 and gave the stock a “market perform” rating in a research note on Monday, January 18th. Piper Sandler increased their target price on JPMorgan Chase & Co. from $118.00 to $150.00 and gave the stock an “overweight” rating in a research note on Monday, January 11th. Finally, Bank of America upgraded JPMorgan Chase & Co. from a “neutral” rating to a “buy” rating in a research note on Wednesday, January 13th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and seventeen have issued a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $138.89.
In other JPMorgan Chase & Co. news, CEO Douglas B. Petno sold 22,011 shares of the firm’s stock in a transaction dated Friday, January 29th. The stock was sold at an average price of $129.84, for a total value of $2,857,908.24. 0.78% of the stock is currently owned by company insiders.
About JPMorgan Chase & Co.
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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