Grimes & Company Inc. reduced its stake in JPMorgan Chase & Co. (NYSE:JPM – Free Report) by 0.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 89,513 shares of the financial services provider’s stock after selling 46 shares during the quarter. Grimes & Company Inc.’s holdings in JPMorgan Chase & Co. were worth $21,457,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Mizuho Securities Co. Ltd. bought a new stake in shares of JPMorgan Chase & Co. in the third quarter worth $25,000. Catalyst Capital Advisors LLC acquired a new stake in JPMorgan Chase & Co. in the 3rd quarter valued at $27,000. West Financial Advisors LLC bought a new stake in JPMorgan Chase & Co. during the 3rd quarter worth about $37,000. New England Capital Financial Advisors LLC boosted its stake 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 grew its holdings in shares of JPMorgan Chase & Co. by 36.0% in the 3rd quarter. Carolina Wealth Advisors LLC now owns 189 shares of the financial services provider’s stock valued at $40,000 after acquiring an additional 50 shares in the last quarter. 71.55% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Several research firms recently issued reports on JPM. Evercore ISI increased their price target on JPMorgan Chase & Co. from $217.00 to $230.00 and gave the company an “outperform” rating in a research report on Monday, October 14th. Bank of America upped their price objective on JPMorgan Chase & Co. from $260.00 to $280.00 and gave the stock a “buy” rating in a research note on Tuesday, January 7th. Daiwa Capital Markets decreased their target price on shares of JPMorgan Chase & Co. from $240.00 to $235.00 and set an “overweight” rating for the company in a research note on Thursday, October 10th. Baird R W lowered shares of JPMorgan Chase & Co. from a “hold” rating to a “strong sell” rating in a research report on Thursday, November 7th. Finally, Royal Bank of Canada lifted their price objective on shares of JPMorgan Chase & Co. from $211.00 to $230.00 and gave the company an “outperform” rating in a research report on Monday, October 14th. Two investment 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. According to data from MarketBeat, JPMorgan Chase & Co. has an average rating of “Hold” and an average price target of $251.78.
JPMorgan Chase & Co. Stock Down 0.2 %
JPM opened at $266.74 on Thursday. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.89 and a current ratio of 0.88. The stock has a fifty day moving average of $246.56 and a 200-day moving average of $227.36. JPMorgan Chase & Co. has a fifty-two week low of $171.43 and a fifty-two week high of $270.68. The company has a market capitalization of $750.96 billion, a P/E ratio of 13.51, a P/E/G ratio of 2.83 and a beta of 1.11.
JPMorgan Chase & Co. (NYSE:JPM – Get Free Report) last posted its quarterly earnings data on Wednesday, January 15th. The financial services provider reported $4.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $42.77 billion during the quarter, compared to the consensus estimate of $41.90 billion. During the same quarter in the previous year, the firm posted $3.04 EPS. The business’s revenue for the quarter was up 10.9% compared to the same quarter last year. On average, equities analysts expect that JPMorgan Chase & Co. will post 17.82 EPS for the current year.
JPMorgan Chase & Co. Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Monday, January 6th will be given a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a yield of 1.87%. The ex-dividend date of this dividend is Monday, January 6th. JPMorgan Chase & Co.’s dividend payout ratio is currently 25.33%.
Insiders Place Their Bets
In other news, General Counsel Stacey Friedman sold 3,303 shares of the stock in a transaction 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 sale, the general counsel now directly owns 47,620 shares of the company’s stock, valued at approximately $12,092,622.80. This represents a 6.49 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.79% 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. 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.
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