New Century Financial Group LLC Decreases Position in JPMorgan Chase & Co. (NYSE:JPM)

New Century Financial Group LLC cut its stake in JPMorgan Chase & Co. (NYSE:JPM) by 14.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,290 shares of the financial services provider’s stock after selling 1,043 shares during the quarter. New Century Financial Group LLC’s holdings in JPMorgan Chase & Co. were worth $1,530,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Mizuho Securities Co. Ltd. acquired a new stake in JPMorgan Chase & Co. in the 3rd quarter valued at about $25,000. Catalyst Capital Advisors LLC acquired a new stake in JPMorgan Chase & Co. in the 3rd quarter valued at about $27,000. West Financial Advisors LLC acquired a new stake in JPMorgan Chase & Co. in the 3rd quarter valued at about $37,000. New England Capital Financial Advisors LLC increased its holdings in shares of JPMorgan Chase & Co. by 38.5% during the 3rd quarter. New England Capital Financial Advisors LLC now owns 180 shares of the financial services provider’s stock worth $38,000 after buying an additional 50 shares during the last quarter. Finally, Carolina Wealth Advisors LLC increased its holdings in shares of JPMorgan Chase & Co. by 36.0% during the 3rd quarter. Carolina Wealth Advisors LLC now owns 189 shares of the financial services provider’s stock worth $40,000 after buying an additional 50 shares during the last quarter. 71.55% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on JPM. Robert W. Baird downgraded shares of JPMorgan Chase & Co. from a “neutral” rating to an “underperform” rating and set a $200.00 price target for the company. in a report on Thursday, November 7th. Wells Fargo & Company raised their price target on shares of JPMorgan Chase & Co. from $240.00 to $270.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. 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 report on Tuesday, November 19th. 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. Finally, Wolfe Research upgraded shares of JPMorgan Chase & Co. from a “peer perform” rating to an “outperform” rating and set a $269.00 price target for the company in a report on Friday, January 3rd. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $251.78.

Check Out Our Latest Research Report on JPMorgan Chase & Co.

Insider Transactions at JPMorgan Chase & Co.

In other news, General Counsel Stacey Friedman sold 3,303 shares of JPMorgan Chase & Co. stock in a transaction on Thursday, January 16th. The shares were sold at an average price of $253.94, for a total transaction of $838,763.82. Following the completion of the sale, 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 document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.79% of the company’s stock.

JPMorgan Chase & Co. Stock Performance

Shares of JPM stock opened at $266.94 on Wednesday. The company has a quick ratio of 0.89, a current ratio of 0.88 and a debt-to-equity ratio of 1.24. JPMorgan Chase & Co. has a 52 week low of $171.30 and a 52 week high of $267.33. The stock has a market capitalization of $751.53 billion, a PE ratio of 13.52, a P/E/G ratio of 2.83 and a beta of 1.11. The firm has a 50 day moving average of $246.08 and a two-hundred day moving average of $226.92.

JPMorgan Chase & Co. (NYSE:JPMGet Free Report) last issued its quarterly earnings results on Wednesday, January 15th. The financial services provider reported $4.81 EPS for the quarter, beating the consensus estimate of $4.03 by $0.78. JPMorgan Chase & Co. had a net margin of 20.96% and a return on equity of 16.99%. The company had revenue of $42.77 billion during the quarter, compared to analysts’ expectations of $41.90 billion. During the same quarter last year, the company posted $3.04 EPS. The firm’s revenue was up 10.9% compared to the same quarter last year. On average, research analysts predict that JPMorgan Chase & Co. will post 17.82 EPS for the current fiscal year.

JPMorgan Chase & Co. Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Monday, January 6th will be given a dividend of $1.25 per share. The ex-dividend date is Monday, January 6th. This represents a $5.00 annualized dividend and a dividend yield of 1.87%. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is currently 25.33%.

JPMorgan Chase & Co. Profile

(Free Report)

JPMorgan Chase & Co is a financial holding company, which engages in the provision of financial and investment banking services. The firm offers a range of investment banking products and services in all capital markets, including advising on corporate strategy and structure, capital raising in equity and debt markets, risk management, market making in cash securities and derivative instruments, and brokerage and research.

See Also

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Institutional Ownership by Quarter for JPMorgan Chase & Co. (NYSE:JPM)

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