Gabelli Funds LLC Cuts Position in JPMorgan Chase & Co. (NYSE:JPM)

Gabelli Funds LLC trimmed its stake in shares of JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 5.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 380,785 shares of the financial services provider's stock after selling 19,865 shares during the quarter. JPMorgan Chase & Co. accounts for 0.7% of Gabelli Funds LLC's portfolio, making the stock its 28th largest holding. Gabelli Funds LLC's holdings in JPMorgan Chase & Co. were worth $91,278,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. Norges Bank bought a new position in shares of JPMorgan Chase & Co. in the fourth quarter worth about $8,310,884,000. Proficio Capital Partners LLC raised its position in JPMorgan Chase & Co. by 34,259.3% in the 4th quarter. Proficio Capital Partners LLC now owns 3,499,499 shares of the financial services provider's stock worth $838,865,000 after purchasing an additional 3,489,314 shares during the last quarter. APG Asset Management N.V. lifted its holdings in JPMorgan Chase & Co. by 457.7% during the 4th quarter. APG Asset Management N.V. now owns 2,725,473 shares of the financial services provider's stock worth $630,925,000 after buying an additional 2,236,740 shares in the last quarter. KLP Kapitalforvaltning AS bought a new position in JPMorgan Chase & Co. in the 4th quarter valued at $259,038,000. Finally, Franklin Resources Inc. boosted its position in JPMorgan Chase & Co. by 7.2% in the 3rd quarter. Franklin Resources Inc. now owns 15,073,193 shares of the financial services provider's stock valued at $3,338,955,000 after buying an additional 1,016,289 shares during the last quarter. 71.55% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages have recently issued reports on JPM. Evercore ISI cut their price target on JPMorgan Chase & Co. from $273.00 to $265.00 and set an "outperform" rating on the stock in a research note on Tuesday, April 1st. Baird R W upgraded shares of JPMorgan Chase & Co. from a "strong sell" rating to a "hold" rating in a research report on Friday, March 7th. Barclays lifted their price target on shares of JPMorgan Chase & Co. from $304.00 to $330.00 and gave the stock an "overweight" rating in a research report on Thursday, January 16th. Wolfe Research raised shares of JPMorgan Chase & Co. from a "peer perform" rating to an "outperform" rating and set a $269.00 target price for the company in a report on Friday, January 3rd. Finally, UBS Group increased their price target on JPMorgan Chase & Co. from $277.00 to $305.00 and gave the company a "buy" rating in a research note on Thursday. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and ten have issued a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $255.67.

Insiders Place Their Bets

In related news, CEO Troy L. Rohrbaugh sold 37,500 shares of the stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $269.84, for a total value of $10,119,000.00. Following the transaction, the chief executive officer now directly owns 158,381 shares in the company, valued at $42,737,529.04. This trade represents a 19.14 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Robin Leopold sold 1,250 shares of JPMorgan Chase & Co. stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $270.09, for a total transaction of $337,612.50. Following the transaction, the insider now owns 50,377 shares of the company's stock, valued at $13,606,323.93. This represents a 2.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 73,545 shares of company stock worth $19,149,144. 0.79% of the stock is owned by corporate insiders.

JPMorgan Chase & Co. Price Performance

Shares of NYSE JPM traded up $2.18 during mid-day trading on Friday, hitting $231.79. 9,553,647 shares of the stock traded hands, compared to its average volume of 9,616,766. The firm has a 50 day simple moving average of $244.72 and a two-hundred day simple moving average of $242.59. The company has a market cap of $645.07 billion, a PE ratio of 11.74, a price-to-earnings-growth ratio of 2.83 and a beta of 1.01. JPMorgan Chase & Co. has a twelve month low of $181.41 and a twelve month high of $280.25. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.88 and a quick ratio of 0.89.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last issued its quarterly earnings data on Friday, April 11th. The financial services provider reported $5.07 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $4.63 by $0.44. The company had revenue of $45.30 billion during the quarter, compared to the consensus estimate of $43.62 billion. JPMorgan Chase & Co. had a return on equity of 16.99% and a net margin of 20.96%. The firm's revenue was up 8.0% compared to the same quarter last year. During the same period last year, the company earned $4.44 earnings per share. As a group, equities research analysts forecast that JPMorgan Chase & Co. will post 18.1 EPS for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Friday, April 4th will be given a dividend of $1.40 per share. This is a positive change from JPMorgan Chase & Co.'s previous quarterly dividend of $1.25. The ex-dividend date of this dividend is Friday, April 4th. This represents a $5.60 annualized dividend and a dividend yield of 2.42%. JPMorgan Chase & Co.'s dividend payout ratio is presently 27.49%.

JPMorgan Chase & Co. 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.