Overbrook Management Corp Reduces Stock Position in JPMorgan Chase & Co. $JPM

Overbrook Management Corp lessened its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 55.8% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 13,642 shares of the financial services provider’s stock after selling 17,220 shares during the period. JPMorgan Chase & Co. comprises approximately 0.8% of Overbrook Management Corp’s holdings, making the stock its 27th largest holding. Overbrook Management Corp’s holdings in JPMorgan Chase & Co. were worth $4,303,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Harbor Asset Planning Inc. purchased a new position in shares of JPMorgan Chase & Co. during the second quarter valued at approximately $26,000. Mizuho Securities Co. Ltd. boosted its holdings in JPMorgan Chase & Co. by 450.0% in the second quarter. Mizuho Securities Co. Ltd. now owns 110 shares of the financial services provider’s stock valued at $32,000 after acquiring an additional 90 shares in the last quarter. Ryan Investment Management Inc. bought a new stake in JPMorgan Chase & Co. in the second quarter valued at $37,000. Christopher J. Hasenberg Inc increased its position in JPMorgan Chase & Co. by 212.0% during the 2nd quarter. Christopher J. Hasenberg Inc now owns 156 shares of the financial services provider’s stock valued at $45,000 after purchasing an additional 106 shares during the period. Finally, Clarity Asset Management Inc. raised its holdings in JPMorgan Chase & Co. by 87.1% in the 2nd quarter. Clarity Asset Management Inc. now owns 217 shares of the financial services provider’s stock worth $63,000 after purchasing an additional 101 shares in the last quarter. Institutional investors own 71.55% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. Zacks Research cut shares of JPMorgan Chase & Co. from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 18th. Cowen restated a “buy” rating on shares of JPMorgan Chase & Co. in a report on Tuesday, December 9th. Truist Financial lifted their price objective on JPMorgan Chase & Co. from $290.00 to $319.00 and gave the company a “hold” rating in a research report on Tuesday, September 23rd. Wolfe Research upped their target price on JPMorgan Chase & Co. from $342.00 to $346.00 and gave the stock an “outperform” rating in a report on Thursday, October 16th. Finally, Royal Bank Of Canada decreased their target price on JPMorgan Chase & Co. from $343.00 to $330.00 and set an “outperform” rating for the company in a research report on Friday, December 12th. Fifteen research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $327.48.

JPMorgan Chase & Co. Trading Down 0.2%

NYSE:JPM opened at $314.90 on Thursday. The firm has a market capitalization of $857.23 billion, a P/E ratio of 15.60, a PEG ratio of 1.63 and a beta of 1.08. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.86 and a quick ratio of 0.86. JPMorgan Chase & Co. has a one year low of $202.16 and a one year high of $322.88. The company’s 50-day simple moving average is $307.36 and its 200 day simple moving average is $297.74.

JPMorgan Chase & Co. (NYSE:JPM) last announced its earnings results on Tuesday, October 14th. The financial services provider reported $5.07 earnings per share for the quarter, beating analysts’ consensus estimates of $4.83 by $0.24. JPMorgan Chase & Co. had a net margin of 20.90% and a return on equity of 17.18%. The business had revenue of $47.12 billion during the quarter, compared to the consensus estimate of $44.42 billion. During the same quarter last year, the firm earned $4.37 earnings per share. The business’s revenue for the quarter was up 8.8% on a year-over-year basis. As a group, analysts forecast that JPMorgan Chase & Co. will post 18.1 EPS for the current fiscal year.

JPMorgan Chase & Co. Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Saturday, January 31st. Stockholders of record on Tuesday, January 6th will be issued a dividend of $1.50 per share. The ex-dividend date is Tuesday, January 6th. This represents a $6.00 annualized dividend and a dividend yield of 1.9%. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is presently 29.72%.

Insider Activity

In related news, insider Robin Leopold sold 966 shares of the company’s stock in a transaction dated Friday, November 7th. The shares were sold at an average price of $311.92, for a total value of $301,314.72. Following the transaction, the insider owned 58,479 shares in the company, valued at $18,240,769.68. The trade was a 1.63% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.47% of the stock is currently owned by corporate insiders.

About JPMorgan Chase & Co.

JPMorgan Chase & Co is a financial holding company, which engages in the provision of financial and investment banking services. It focuses on investment banking, financial services for consumers and small businesses, commercial banking, financial transaction processing, and asset management. It operates through the following segments: Consumer and Community Banking (CCB), Commercial and Investment Bank (CIB), Asset and Wealth Management (AWM), and Corporate.