Tranquility Partners LLC Sells 765 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Tranquility Partners LLC lessened its stake in JPMorgan Chase & Co. (NYSE:JPM) by 4.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 18,595 shares of the financial services provider’s stock after selling 765 shares during the quarter. JPMorgan Chase & Co. comprises about 1.3% of Tranquility Partners LLC’s investment portfolio, making the stock its 16th largest holding. Tranquility Partners LLC’s holdings in JPMorgan Chase & Co. were worth $3,163,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Morgan Stanley increased its holdings in JPMorgan Chase & Co. by 0.3% in the third quarter. Morgan Stanley now owns 62,941,343 shares of the financial services provider’s stock valued at $9,127,754,000 after purchasing an additional 201,441 shares during the last quarter. FMR LLC increased its holdings in JPMorgan Chase & Co. by 1.2% in the third quarter. FMR LLC now owns 49,417,639 shares of the financial services provider’s stock valued at $7,166,546,000 after purchasing an additional 606,382 shares during the last quarter. Wellington Management Group LLP increased its holdings in JPMorgan Chase & Co. by 12.2% in the third quarter. Wellington Management Group LLP now owns 42,421,711 shares of the financial services provider’s stock valued at $6,151,997,000 after purchasing an additional 4,603,090 shares during the last quarter. Northern Trust Corp increased its holdings in shares of JPMorgan Chase & Co. by 2.7% in the third quarter. Northern Trust Corp now owns 33,089,310 shares of the financial services provider’s stock worth $4,798,612,000 after acquiring an additional 871,091 shares in the last quarter. Finally, Ameriprise Financial Inc. increased its holdings in shares of JPMorgan Chase & Co. by 2.0% in the third quarter. Ameriprise Financial Inc. now owns 23,724,676 shares of the financial services provider’s stock worth $3,442,313,000 after acquiring an additional 457,184 shares in the last quarter. Institutional investors own 71.55% of the company’s stock.

Insider Activity at JPMorgan Chase & Co.

In related news, CEO Jennifer Piepszak sold 1,648 shares of the stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $178.96, for a total transaction of $294,926.08. Following the completion of the transaction, the chief executive officer now directly owns 32,819 shares of the company’s stock, valued at $5,873,288.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO Jennifer Piepszak sold 1,648 shares of the firm’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $178.96, for a total value of $294,926.08. Following the completion of the sale, the chief executive officer now directly owns 32,819 shares of the company’s stock, valued at $5,873,288.24. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Vice Chairman Peter Scher sold 1,810 shares of the firm’s stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $178.96, for a total value of $323,917.60. Following the completion of the sale, the insider now directly owns 44,956 shares of the company’s stock, valued at $8,045,325.76. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,020,696 shares of company stock valued at $186,794,151. Insiders own 0.79% of the company’s stock.

Wall Street Analyst Weigh In

JPM has been the subject of several recent analyst reports. Morgan Stanley lowered their price target on JPMorgan Chase & Co. from $221.00 to $216.00 and set an “overweight” rating for the company in a report on Monday, April 15th. BMO Capital Markets lowered their price target on JPMorgan Chase & Co. from $196.00 to $195.00 and set a “market perform” rating for the company in a report on Monday, April 15th. Royal Bank of Canada restated an “outperform” rating and issued a $185.00 price target on shares of JPMorgan Chase & Co. in a report on Wednesday, March 20th. Piper Sandler lowered their price target on JPMorgan Chase & Co. from $220.00 to $215.00 and set an “overweight” rating for the company in a report on Monday, April 15th. Finally, Jefferies Financial Group increased their price target on JPMorgan Chase & Co. from $202.00 to $228.00 and gave the stock a “buy” rating in a report on Monday, April 8th. Eight investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $192.05.

JPMorgan Chase & Co. Stock Performance

Shares of NYSE JPM opened at $193.08 on Thursday. The stock has a 50 day moving average price of $189.80 and a 200 day moving average price of $170.07. JPMorgan Chase & Co. has a 52 week low of $131.81 and a 52 week high of $200.94. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.91 and a current ratio of 0.92. The stock has a market capitalization of $554.54 billion, a PE ratio of 11.66, a price-to-earnings-growth ratio of 2.38 and a beta of 1.15.

JPMorgan Chase & Co. Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Friday, April 5th will be given a dividend of $1.15 per share. The ex-dividend date of this dividend is Thursday, April 4th. This is a boost from JPMorgan Chase & Co.’s previous quarterly dividend of $1.05. This represents a $4.60 annualized dividend and a yield of 2.38%. JPMorgan Chase & Co.’s dividend payout ratio is 27.78%.

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.