Somerset Trust Co Sells 1,147 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Somerset Trust Co cut its stake in JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 3.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 35,452 shares of the financial services provider's stock after selling 1,147 shares during the period. JPMorgan Chase & Co. makes up approximately 3.2% of Somerset Trust Co's holdings, making the stock its 3rd largest holding. Somerset Trust Co's holdings in JPMorgan Chase & Co. were worth $8,498,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of JPM. Merit Financial Group LLC raised its stake in shares of JPMorgan Chase & Co. by 39.9% during the 4th quarter. Merit Financial Group LLC now owns 95,629 shares of the financial services provider's stock worth $22,923,000 after buying an additional 27,264 shares during the last quarter. Grant GrossMendelsohn LLC increased its holdings in JPMorgan Chase & Co. by 3.0% during the 4th quarter. Grant GrossMendelsohn LLC now owns 9,558 shares of the financial services provider's stock valued at $2,291,000 after acquiring an additional 275 shares in the last quarter. Walker Asset Management LLC raised its position in JPMorgan Chase & Co. by 2.2% during the fourth quarter. Walker Asset Management LLC now owns 2,453 shares of the financial services provider's stock worth $588,000 after acquiring an additional 53 shares during the last quarter. Relyea Zuckerberg Hanson LLC raised its position in JPMorgan Chase & Co. by 15.7% during the fourth quarter. Relyea Zuckerberg Hanson LLC now owns 22,921 shares of the financial services provider's stock worth $5,495,000 after acquiring an additional 3,104 shares during the last quarter. Finally, Saxon Interests Inc. lifted its holdings in shares of JPMorgan Chase & Co. by 8.7% in the fourth quarter. Saxon Interests Inc. now owns 10,456 shares of the financial services provider's stock valued at $2,506,000 after purchasing an additional 836 shares in the last quarter. 71.55% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

JPM has been the subject of several research reports. Wells Fargo & Company lifted their price objective on JPMorgan Chase & Co. from $240.00 to $270.00 and gave the stock an "overweight" rating in a research report on Friday, November 15th. Morgan Stanley cut JPMorgan Chase & Co. from an "overweight" rating to an "equal weight" rating and boosted their price target for the stock from $220.00 to $224.00 in a report on Monday, September 30th. Keefe, Bruyette & Woods increased their price objective on JPMorgan Chase & Co. from $257.00 to $264.00 and gave the company a "market perform" rating in a research note on Thursday. Baird R W downgraded shares of JPMorgan Chase & Co. from a "hold" rating to a "strong sell" rating in a research note on Thursday, November 7th. Finally, Citigroup raised their price target on shares of JPMorgan Chase & Co. from $215.00 to $250.00 and gave the stock a "neutral" rating in a research note on Tuesday, November 19th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $251.78.

Insider Transactions at JPMorgan Chase & Co.

In related news, General Counsel Stacey Friedman sold 3,303 shares of the business's stock in a transaction that occurred on Thursday, January 16th. The stock was sold at an average price of $253.94, for a total transaction of $838,763.82. Following the transaction, the general counsel now directly owns 47,620 shares of the company's stock, valued at approximately $12,092,622.80. The trade was a 6.49 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 0.79% of the company's stock.

JPMorgan Chase & Co. Trading Up 2.0 %

JPMorgan Chase & Co. stock traded up $5.19 during midday trading on Monday, reaching $259.46. The stock had a trading volume of 17,629,775 shares, compared to its average volume of 8,107,328. The stock's 50-day simple moving average is $243.50 and its 200 day simple moving average is $224.52. JPMorgan Chase & Co. has a twelve month low of $165.24 and a twelve month high of $260.62. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.89 and a current ratio of 0.89. The stock has a market capitalization of $730.47 billion, a PE ratio of 14.44, a price-to-earnings-growth ratio of 3.16 and a beta of 1.11.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last released its quarterly earnings data on Wednesday, January 15th. The financial services provider reported $4.81 earnings per share for the quarter, beating the consensus estimate of $4.03 by $0.78. The business had revenue of $42.77 billion for the quarter, compared to analyst estimates of $41.90 billion. JPMorgan Chase & Co. had a return on equity of 16.71% and a net margin of 19.64%. The company's revenue was up 10.9% compared to the same quarter last year. During the same period in the previous year, the company posted $3.04 EPS. Analysts expect that JPMorgan Chase & Co. will post 17.46 EPS for the current year.

JPMorgan Chase & Co. Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Monday, January 6th will be paid a dividend of $1.25 per share. The ex-dividend date of this dividend is Monday, January 6th. This represents a $5.00 annualized dividend and a yield of 1.93%. JPMorgan Chase & Co.'s dividend payout ratio is currently 27.82%.

JPMorgan Chase & Co. Profile

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.