Chartwell Investment Partners LLC lessened its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 4.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 188,832 shares of the financial services provider’s stock after selling 8,978 shares during the period. JPMorgan Chase & Co. comprises approximately 1.1% of Chartwell Investment Partners LLC’s portfolio, making the stock its 7th biggest position. Chartwell Investment Partners LLC’s holdings in JPMorgan Chase & Co. were worth $27,385,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also modified their holdings of JPM. Macroview Investment Management LLC boosted its position in shares of JPMorgan Chase & Co. by 7,833.3% in the third quarter. Macroview Investment Management LLC now owns 238 shares of the financial services provider’s stock worth $34,000 after buying an additional 235 shares during the period. Briaud Financial Planning Inc acquired a new stake in JPMorgan Chase & Co. during the third quarter valued at $40,000. FSC Wealth Advisors LLC boosted its position in JPMorgan Chase & Co. by 290.9% during the third quarter. FSC Wealth Advisors LLC now owns 387 shares of the financial services provider’s stock valued at $56,000 after purchasing an additional 288 shares during the last quarter. Legacy Financial Group LLC acquired a new stake in JPMorgan Chase & Co. during the third quarter valued at $58,000. Finally, Robbins Farley boosted its position in JPMorgan Chase & Co. by 29.5% during the third quarter. Robbins Farley now owns 421 shares of the financial services provider’s stock valued at $61,000 after purchasing an additional 96 shares during the last quarter. Institutional investors and hedge funds own 68.94% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of analysts recently issued reports on JPM shares. Odeon Capital Group cut JPMorgan Chase & Co. from a “buy” rating to a “hold” rating and set a $140.00 price objective for the company. in a research report on Thursday, November 2nd. Deutsche Bank Aktiengesellschaft raised JPMorgan Chase & Co. from a “hold” rating to a “buy” rating and lifted their price objective for the company from $140.00 to $190.00 in a research report on Tuesday, January 9th. Jefferies Financial Group reduced their price target on JPMorgan Chase & Co. from $176.00 to $169.00 in a research report on Tuesday, October 10th. Oppenheimer boosted their price target on JPMorgan Chase & Co. from $232.00 to $238.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 30th. Finally, Morgan Stanley boosted their price target on JPMorgan Chase & Co. from $191.00 to $221.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 30th. Eight analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat, JPMorgan Chase & Co. has an average rating of “Moderate Buy” and an average price target of $179.11.
Check Out Our Latest Report on JPMorgan Chase & Co.
JPMorgan Chase & Co. Trading Down 0.1 %
Shares of JPM opened at $174.49 on Tuesday. JPMorgan Chase & Co. has a 12-month low of $123.11 and a 12-month high of $178.30. The company has a quick ratio of 0.90, a current ratio of 0.91 and a debt-to-equity ratio of 1.30. The firm has a market capitalization of $501.95 billion, a price-to-earnings ratio of 10.76, a P/E/G ratio of 2.20 and a beta of 1.14. The stock’s 50-day moving average price is $167.06 and its 200 day moving average price is $154.77.
JPMorgan Chase & Co. (NYSE:JPM – Get Free Report) last issued its quarterly earnings results on Friday, January 12th. The financial services provider reported $3.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.73 by ($0.69). JPMorgan Chase & Co. had a net margin of 20.70% and a return on equity of 17.80%. The firm had revenue of $38.57 billion for the quarter, compared to the consensus estimate of $39.73 billion. During the same quarter in the prior year, the firm earned $3.57 earnings per share. The company’s revenue was up 11.7% on a year-over-year basis. As a group, research analysts predict that JPMorgan Chase & Co. will post 15.85 earnings per share for the current year.
JPMorgan Chase & Co. Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 31st. Shareholders of record on Thursday, January 4th were issued a dividend of $1.05 per share. This represents a $4.20 dividend on an annualized basis and a yield of 2.41%. The ex-dividend date was Thursday, January 4th. JPMorgan Chase & Co.’s payout ratio is 25.89%.
Insider Buying and Selling at JPMorgan Chase & Co.
In other JPMorgan Chase & Co. news, CEO Marianne Lake sold 32,243 shares of JPMorgan Chase & Co. stock in a transaction that occurred on Tuesday, December 12th. The stock was sold at an average price of $160.00, for a total transaction of $5,158,880.00. Following the sale, the chief executive officer now directly owns 131,962 shares of the company’s stock, valued at $21,113,920. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Vice Chairman Peter Scher sold 1,812 shares of the business’s stock in a transaction that occurred on Tuesday, January 16th. The stock was sold at an average price of $166.65, for a total value of $301,969.80. Following the transaction, the insider now directly owns 46,766 shares of the company’s stock, valued at approximately $7,793,553.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Marianne Lake sold 32,243 shares of the business’s stock in a transaction that occurred on Tuesday, December 12th. The stock was sold at an average price of $160.00, for a total value of $5,158,880.00. Following the completion of the transaction, the chief executive officer now directly owns 131,962 shares in the company, valued at $21,113,920. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 39,072 shares of company stock valued at $6,297,103. 0.79% of the stock is currently owned by corporate insiders.
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 to consumers and small businesses; mortgage origination and servicing activities; residential mortgages and home equity loans; and credit cards, auto loans, leases, and travel services.
Further Reading
Want to see what other hedge funds are holding JPM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for JPMorgan Chase & Co. (NYSE:JPM – Free Report).
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