Lord Abbett & CO. LLC Lowers Position in JPMorgan Chase & Co. (NYSE:JPM)

Lord Abbett & CO. LLC reduced its position in shares of JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 5.6% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,988,742 shares of the financial services provider's stock after selling 116,928 shares during the quarter. JPMorgan Chase & Co. comprises 1.5% of Lord Abbett & CO. LLC's holdings, making the stock its 4th biggest position. Lord Abbett & CO. LLC owned 0.07% of JPMorgan Chase & Co. worth $476,721,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Redwood Park Advisors LLC acquired a new position in JPMorgan Chase & Co. in the fourth quarter valued at about $29,000. Sellwood Investment Partners LLC acquired a new stake in shares of JPMorgan Chase & Co. in the 4th quarter valued at approximately $34,000. Investment Counsel Co. of Nevada bought a new position in JPMorgan Chase & Co. during the 4th quarter worth approximately $37,000. Midwest Capital Advisors LLC acquired a new stake in JPMorgan Chase & Co. in the fourth quarter worth $43,000. Finally, Prudent Man Investment Management Inc. bought a new position in shares of JPMorgan Chase & Co. during the fourth quarter worth $43,000. 71.55% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts recently commented on the company. UBS Group raised their price objective on JPMorgan Chase & Co. from $277.00 to $305.00 and gave the stock a "buy" rating in a research note on Thursday, April 17th. StockNews.com lowered JPMorgan Chase & Co. from a "hold" rating to a "sell" rating in a research report on Monday, April 14th. Baird R W upgraded JPMorgan Chase & Co. from a "strong sell" rating to a "hold" rating in a research report on Friday, March 7th. Evercore ISI dropped their target price on shares of JPMorgan Chase & Co. from $273.00 to $265.00 and set an "outperform" rating on the stock in a report on Tuesday, April 1st. Finally, Bank of America reduced their price target on shares of JPMorgan Chase & Co. from $285.00 to $284.00 and set a "buy" rating for the company in a report on Wednesday, April 2nd. One analyst has rated the stock with a sell rating, ten have given a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, JPMorgan Chase & Co. has a consensus rating of "Hold" and a consensus target price of $255.67.

JPMorgan Chase & Co. Price Performance

Shares of JPM traded down $0.41 during midday trading on Monday, hitting $243.14. 7,380,676 shares of the company traded hands, compared to its average volume of 9,622,753. The stock has a 50-day moving average of $240.91 and a 200-day moving average of $244.04. JPMorgan Chase & Co. has a one year low of $188.46 and a one year high of $280.25. The firm has a market cap of $676.66 billion, a P/E ratio of 12.32, a PEG ratio of 2.83 and a beta of 1.01. 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 posted its quarterly earnings data on Friday, April 11th. The financial services provider reported $5.07 earnings per share for the quarter, topping the consensus estimate of $4.63 by $0.44. The company had revenue of $45.30 billion for the quarter, compared to analysts' expectations of $43.62 billion. JPMorgan Chase & Co. had a net margin of 20.96% and a return on equity of 16.99%. JPMorgan Chase & Co.'s revenue for the quarter was up 8.0% compared to the same quarter last year. During the same period in the prior year, the business earned $4.44 earnings per share. As a group, sell-side analysts predict that JPMorgan Chase & Co. will post 18.1 EPS for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Friday, April 4th will be given a dividend of $1.40 per share. This is a boost from JPMorgan Chase & Co.'s previous quarterly dividend of $1.25. This represents a $5.60 dividend on an annualized basis and a yield of 2.30%. The ex-dividend date of this dividend is Friday, April 4th. JPMorgan Chase & Co.'s dividend payout ratio (DPR) is presently 27.49%.

Insider Buying and Selling at JPMorgan Chase & Co.

In other news, COO Jennifer Piepszak sold 4,273 shares of the stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $269.85, for a total transaction of $1,153,069.05. Following the completion of the sale, the chief operating officer now owns 54,469 shares of the company's stock, valued at approximately $14,698,459.65. This represents a 7.27 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Robin Leopold sold 1,250 shares of the firm's stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $270.09, for a total value of $337,612.50. Following the completion of the sale, the insider now directly owns 50,377 shares of the company's stock, valued at $13,606,323.93. The trade was a 2.42 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 73,545 shares of company stock worth $19,149,144 over the last ninety days. Insiders own 0.47% 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.