Baker Avenue Asset Management LP Reduces Stock Position in JPMorgan Chase & Co. (NYSE:JPM)

Baker Avenue Asset Management LP trimmed its position in JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 1.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 217,036 shares of the financial services provider's stock after selling 3,914 shares during the quarter. JPMorgan Chase & Co. makes up approximately 1.6% of Baker Avenue Asset Management LP's portfolio, making the stock its 17th biggest holding. Baker Avenue Asset Management LP's holdings in JPMorgan Chase & Co. were worth $52,026,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Banque Transatlantique SA purchased a new stake in shares of JPMorgan Chase & Co. in the 4th quarter valued at about $55,336,000. Banque de Luxembourg S.A. bought a new position in shares of JPMorgan Chase & Co. in the fourth quarter worth approximately $461,000. Beverly Hills Private Wealth LLC lifted its position in JPMorgan Chase & Co. by 17.8% during the fourth quarter. Beverly Hills Private Wealth LLC now owns 54,315 shares of the financial services provider's stock valued at $13,020,000 after purchasing an additional 8,225 shares during the last quarter. Bearing Point Capital LLC purchased a new position in JPMorgan Chase & Co. in the 4th quarter worth approximately $9,915,000. Finally, Benjamin Edwards Inc. increased its holdings in shares of JPMorgan Chase & Co. by 4.7% in the 4th quarter. Benjamin Edwards Inc. now owns 147,225 shares of the financial services provider's stock worth $35,328,000 after buying an additional 6,669 shares during the last quarter. 71.55% of the stock is currently owned by institutional investors.

Insider Activity

In other JPMorgan Chase & Co. news, COO Jennifer Piepszak sold 4,273 shares of the company's stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $269.85, for a total value of $1,153,069.05. Following the completion of the transaction, the chief operating officer now directly owns 54,469 shares in the company, valued at $14,698,459.65. This represents a 7.27 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Robin Leopold sold 1,250 shares of the stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $270.09, for a total value of $337,612.50. Following the sale, the insider now owns 50,377 shares of the company's stock, valued at $13,606,323.93. This represents a 2.42 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 83,045 shares of company stock worth $21,524,144. Insiders own 0.47% of the company's stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. UBS Group lifted their price objective on shares of JPMorgan Chase & Co. from $277.00 to $305.00 and gave the stock a "buy" rating in a report on Thursday, April 17th. Barclays upped their price objective on JPMorgan Chase & Co. from $304.00 to $330.00 and gave the stock an "overweight" rating in a report on Thursday, January 16th. KGI Securities initiated coverage on JPMorgan Chase & Co. in a research report on Sunday, April 13th. They issued a "hold" rating for the company. Keefe, Bruyette & Woods upped their target price on JPMorgan Chase & Co. from $257.00 to $264.00 and gave the stock a "market perform" rating in a research note on Thursday, January 16th. Finally, Bank of America decreased their price target 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. Eleven investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $255.67.

JPMorgan Chase & Co. Stock Down 1.3 %

JPM traded down $3.24 on Tuesday, hitting $249.32. The company had a trading volume of 6,352,907 shares, compared to its average volume of 9,636,990. The stock has a fifty day simple moving average of $238.84 and a 200-day simple moving average of $245.05. 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 firm has a market capitalization of $693.86 billion, a P/E ratio of 12.63, a P/E/G ratio of 2.83 and a beta of 1.07. JPMorgan Chase & Co. has a 52-week low of $190.88 and a 52-week high of $280.25.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last released its quarterly earnings results on Friday, April 11th. The financial services provider reported $5.07 earnings per share for the quarter, beating the consensus estimate of $4.63 by $0.44. The company had revenue of $45.30 billion for the quarter, compared to analyst estimates of $43.62 billion. JPMorgan Chase & Co. had a return on equity of 16.99% and a net margin of 20.96%. The firm's revenue was up 8.0% on a year-over-year basis. During the same period in the previous year, the company posted $4.44 earnings per share. As a group, equities analysts expect that JPMorgan Chase & Co. will post 18.1 EPS for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 30th. Investors of record on Friday, April 4th were paid a $1.40 dividend. This represents a $5.60 annualized dividend and a dividend yield of 2.25%. This is a positive change from JPMorgan Chase & Co.'s previous quarterly dividend of $1.25. The ex-dividend date was Friday, April 4th. JPMorgan Chase & Co.'s dividend payout ratio (DPR) is presently 27.49%.

JPMorgan Chase & Co. Company Profile

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.