Summit Investment Advisors Inc. cut its position in shares of JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 4.4% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 30,424 shares of the financial services provider's stock after selling 1,413 shares during the quarter. Summit Investment Advisors Inc.'s holdings in JPMorgan Chase & Co. were worth $7,293,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Disciplined Investments LLC purchased a new stake in shares of JPMorgan Chase & Co. in the 4th quarter valued at approximately $217,000. LGT Group Foundation raised its stake in JPMorgan Chase & Co. by 2.8% during the 4th quarter. LGT Group Foundation now owns 525,801 shares of the financial services provider's stock valued at $126,040,000 after purchasing an additional 14,300 shares during the period. Kinsale Capital Group Inc. lifted its holdings in shares of JPMorgan Chase & Co. by 11.1% in the fourth quarter. Kinsale Capital Group Inc. now owns 43,732 shares of the financial services provider's stock valued at $10,483,000 after purchasing an additional 4,375 shares in the last quarter. Jag Capital Management LLC lifted its holdings in shares of JPMorgan Chase & Co. by 10.5% in the fourth quarter. Jag Capital Management LLC now owns 1,474 shares of the financial services provider's stock valued at $353,000 after purchasing an additional 140 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its position in shares of JPMorgan Chase & Co. by 7.7% in the third quarter. JPMorgan Chase & Co. now owns 4,450,775 shares of the financial services provider's stock worth $938,491,000 after buying an additional 319,730 shares during the period. 71.55% of the stock is currently owned by institutional investors and hedge funds.
Insiders Place Their Bets
In other news, General Counsel Stacey Friedman sold 3,303 shares of the firm's stock in a transaction on Thursday, January 16th. The shares were sold at an average price of $253.94, for a total value of $838,763.82. Following the sale, the general counsel now owns 47,620 shares in the company, valued at approximately $12,092,622.80. This trade represents a 6.49 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Robin Leopold sold 1,250 shares of the company's stock in a transaction on 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 approximately $13,606,323.93. The trade was a 2.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 76,848 shares of company stock valued at $19,987,908 in the last quarter. Insiders own 0.79% of the company's stock.
JPMorgan Chase & Co. Stock Performance
Shares of JPM stock traded down $1.68 during trading on Tuesday, reaching $233.04. The company had a trading volume of 10,902,541 shares, compared to its average volume of 9,642,534. The firm's 50 day simple moving average is $247.29 and its two-hundred day simple moving average is $242.36. JPMorgan Chase & Co. has a one year low of $179.20 and a one year 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. The company has a market capitalization of $648.54 billion, a PE ratio of 11.81, a PEG ratio of 2.83 and a beta of 1.01.
JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last announced its quarterly earnings results on Friday, April 11th. The financial services provider reported $5.07 EPS for the quarter, beating the consensus estimate 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 company had revenue of $45.30 billion for the quarter, compared to the consensus estimate of $43.62 billion. During the same quarter last year, the company posted $4.44 earnings per share. The company's revenue for the quarter was up 8.0% compared to the same quarter last year. Sell-side analysts forecast that JPMorgan Chase & Co. will post 18.1 earnings per share for the current year.
JPMorgan Chase & Co. Increases Dividend
The company also recently announced 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 positive change from JPMorgan Chase & Co.'s previous quarterly dividend of $1.25. The ex-dividend date is Friday, April 4th. This represents a $5.60 dividend on an annualized basis and a yield of 2.40%. JPMorgan Chase & Co.'s payout ratio is currently 27.49%.
Analyst Upgrades and Downgrades
Several research analysts recently weighed in on JPM shares. Robert W. Baird raised JPMorgan Chase & Co. from an "underperform" rating to a "neutral" rating and upped their price target for the company from $215.00 to $220.00 in a research report on Friday, March 7th. Baird R W raised shares of JPMorgan Chase & Co. from a "strong sell" rating to a "hold" rating in a research report on Friday, March 7th. Barclays raised their price target on shares of JPMorgan Chase & Co. from $304.00 to $330.00 and gave the stock an "overweight" rating in a report on Thursday, January 16th. Bank of America dropped their price objective on shares of JPMorgan Chase & Co. from $285.00 to $284.00 and set a "buy" rating on the stock in a research note on Wednesday, April 2nd. Finally, Evercore ISI decreased their target price 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 research analyst has rated the stock with a sell rating, ten have assigned a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, JPMorgan Chase & Co. presently has a consensus rating of "Hold" and a consensus target price of $254.11.
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About JPMorgan Chase & Co.
(
Free Report)
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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