Evercore Wealth Management LLC Reduces Holdings in JPMorgan Chase & Co. (NYSE:JPM)

Evercore Wealth Management LLC reduced its stake in JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 0.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 650,873 shares of the financial services provider's stock after selling 5,275 shares during the period. JPMorgan Chase & Co. comprises 2.3% of Evercore Wealth Management LLC's investment portfolio, making the stock its 12th largest position. Evercore Wealth Management LLC's holdings in JPMorgan Chase & Co. were worth $156,021,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Principal Financial Group Inc. grew its holdings in JPMorgan Chase & Co. by 3.2% in the 3rd quarter. Principal Financial Group Inc. now owns 5,824,289 shares of the financial services provider's stock worth $1,228,110,000 after acquiring an additional 182,648 shares during the last quarter. Invst LLC boosted its holdings in shares of JPMorgan Chase & Co. by 1.4% during the third quarter. Invst LLC now owns 15,033 shares of the financial services provider's stock worth $3,170,000 after purchasing an additional 204 shares during the period. Passumpsic Savings Bank grew its stake in shares of JPMorgan Chase & Co. by 15.1% in the third quarter. Passumpsic Savings Bank now owns 10,753 shares of the financial services provider's stock worth $2,267,000 after purchasing an additional 1,407 shares during the last quarter. SOA Wealth Advisors LLC. grew its stake in shares of JPMorgan Chase & Co. by 1.5% in the third quarter. SOA Wealth Advisors LLC. now owns 21,082 shares of the financial services provider's stock worth $4,445,000 after purchasing an additional 311 shares during the last quarter. Finally, Morse Asset Management Inc increased its holdings in JPMorgan Chase & Co. by 234.4% during the 3rd quarter. Morse Asset Management Inc now owns 7,226 shares of the financial services provider's stock valued at $1,524,000 after purchasing an additional 5,065 shares during the period. Institutional investors own 71.55% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Bank of America cut their price objective on JPMorgan Chase & Co. from $285.00 to $284.00 and set a "buy" rating on the stock in a research report on Wednesday, April 2nd. UBS Group boosted their price objective on shares of JPMorgan Chase & Co. from $277.00 to $305.00 and gave the company a "buy" rating in a research report on Thursday, April 17th. Baird R W upgraded shares of JPMorgan Chase & Co. from a "strong sell" rating to a "hold" rating in a report on Friday, March 7th. Barclays lifted their target price on shares of JPMorgan Chase & Co. from $304.00 to $330.00 and gave the company an "overweight" rating in a research note on Thursday, January 16th. Finally, Evercore ISI decreased their price target on shares of JPMorgan Chase & Co. from $273.00 to $265.00 and set an "outperform" rating for the company in a research note on Tuesday, April 1st. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and ten have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $255.67.

JPMorgan Chase & Co. Price Performance

Shares of JPM opened at $235.51 on Wednesday. The firm has a market cap of $655.42 billion, a PE ratio of 11.93, a P/E/G ratio of 2.83 and a beta of 1.01. JPMorgan Chase & Co. has a 1-year low of $188.46 and a 1-year high of $280.25. The company has a current ratio of 0.88, a quick ratio of 0.89 and a debt-to-equity ratio of 1.24. The firm has a fifty day simple moving average of $242.98 and a two-hundred day simple moving average of $243.17.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last released its quarterly earnings results on Friday, April 11th. The financial services provider reported $5.07 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $4.63 by $0.44. JPMorgan Chase & Co. had a return on equity of 16.99% and a net margin of 20.96%. The business had revenue of $45.30 billion during the quarter, compared to the consensus estimate of $43.62 billion. During the same period in the previous year, the company posted $4.44 EPS. The business's quarterly revenue was up 8.0% compared to the same quarter last year. On average, equities analysts anticipate that JPMorgan Chase & Co. will post 18.1 EPS for the current year.

JPMorgan Chase & Co. Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Friday, April 4th will be paid a dividend of $1.40 per share. This represents a $5.60 annualized dividend and a dividend yield of 2.38%. The ex-dividend date is Friday, April 4th. This is a boost from JPMorgan Chase & Co.'s previous quarterly dividend of $1.25. JPMorgan Chase & Co.'s dividend payout ratio (DPR) is currently 27.49%.

Insider Transactions at JPMorgan Chase & Co.

In other news, COO Jennifer Piepszak sold 4,273 shares of the stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $269.85, for a total value of $1,153,069.05. Following the completion of the sale, the chief operating officer now directly owns 54,469 shares of the company's stock, valued at $14,698,459.65. This represents a 7.27 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Troy L. Rohrbaugh sold 37,500 shares of JPMorgan Chase & Co. stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $269.84, for a total transaction of $10,119,000.00. Following the transaction, the chief executive officer now owns 158,381 shares in the company, valued at approximately $42,737,529.04. This trade represents a 19.14 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 73,545 shares of company stock worth $19,149,144 in the last three months. Corporate insiders own 0.79% of the company's stock.

JPMorgan Chase & Co. Company Profile

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.

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