Echo Wealth Management LLC Has $408,000 Stock Position in JPMorgan Chase & Co. (NYSE:JPM)

Echo Wealth Management LLC lessened its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 9.1% during the fourth quarter, HoldingsChannel reports. The firm owned 1,700 shares of the financial services provider’s stock after selling 171 shares during the quarter. Echo Wealth Management LLC’s holdings in JPMorgan Chase & Co. were worth $408,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of JPM. Rappaport Reiches Capital Management LLC lifted its stake in shares of JPMorgan Chase & Co. by 3.8% in the 4th quarter. Rappaport Reiches Capital Management LLC now owns 1,068 shares of the financial services provider’s stock valued at $256,000 after purchasing an additional 39 shares during the period. Financial Avengers Inc. lifted its stake in JPMorgan Chase & Co. by 5.2% in the third quarter. Financial Avengers Inc. now owns 868 shares of the financial services provider’s stock valued at $183,000 after buying an additional 43 shares during the period. Matrix Trust Co boosted its holdings in shares of JPMorgan Chase & Co. by 0.4% during the 4th quarter. Matrix Trust Co now owns 10,179 shares of the financial services provider’s stock worth $2,440,000 after buying an additional 43 shares in the last quarter. One Charles Private Wealth Services LLC grew its position in shares of JPMorgan Chase & Co. by 0.4% during the 3rd quarter. One Charles Private Wealth Services LLC now owns 12,179 shares of the financial services provider’s stock worth $2,568,000 after buying an additional 44 shares during the period. Finally, Murphy Middleton Hinkle & Parker Inc. grew its position in shares of JPMorgan Chase & Co. by 1.6% during the 4th quarter. Murphy Middleton Hinkle & Parker Inc. now owns 2,881 shares of the financial services provider’s stock worth $691,000 after buying an additional 44 shares during the period. Institutional investors own 71.55% of the company’s stock.

Insider Buying and Selling

In other JPMorgan Chase & Co. news, General Counsel Stacey Friedman sold 3,303 shares of the firm’s stock in a transaction on Thursday, January 16th. The stock was sold at an average price of $253.94, for a total value 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 $12,092,622.80. This trade represents a 6.49 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.79% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of equities research analysts have commented on JPM shares. Evercore ISI raised their price target on shares of JPMorgan Chase & Co. from $217.00 to $230.00 and gave the stock an “outperform” rating in a report on Monday, October 14th. Keefe, Bruyette & Woods boosted their target price on JPMorgan Chase & Co. from $257.00 to $264.00 and gave the company a “market perform” rating in a research report on Thursday, January 16th. Daiwa Capital Markets cut their price target on JPMorgan Chase & Co. from $240.00 to $235.00 and set an “overweight” rating on the stock in a report on Thursday, October 10th. Royal Bank of Canada boosted their price objective on JPMorgan Chase & Co. from $211.00 to $230.00 and gave the company an “outperform” rating in a report on Monday, October 14th. Finally, Citigroup increased their target price on JPMorgan Chase & Co. from $215.00 to $250.00 and gave the stock a “neutral” rating in a report on Tuesday, November 19th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, JPMorgan Chase & Co. has an average rating of “Hold” and a consensus price target of $251.78.

JPMorgan Chase & Co. Stock Up 0.6 %

JPM stock opened at $268.23 on Friday. The stock has a market cap of $755.17 billion, a P/E ratio of 13.59, a P/E/G ratio of 2.83 and a beta of 1.11. The company has a current ratio of 0.88, a quick ratio of 0.89 and a debt-to-equity ratio of 1.24. The stock’s fifty day simple moving average is $247.08 and its two-hundred day simple moving average is $227.63. JPMorgan Chase & Co. has a 1-year low of $171.43 and a 1-year high of $270.68.

JPMorgan Chase & Co. (NYSE:JPM) last issued its quarterly earnings results on Wednesday, January 15th. The financial services provider reported $4.81 earnings per share for the quarter, topping 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 company had revenue of $42.77 billion for the quarter, compared to the consensus estimate of $41.90 billion. During the same period in the previous year, the firm earned $3.04 EPS. The firm’s quarterly revenue was up 10.9% on a year-over-year basis. 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. Stockholders 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 dividend yield of 1.86%. JPMorgan Chase & Co.’s payout ratio is currently 25.33%.

About JPMorgan Chase & Co.

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.