Asset Dedication LLC Has $8.12 Million Holdings in JPMorgan Chase & Co. (NYSE:JPM)

Asset Dedication LLC lessened its stake in JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 18.2% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 33,113 shares of the financial services provider's stock after selling 7,359 shares during the quarter. JPMorgan Chase & Co. comprises 0.7% of Asset Dedication LLC's investment portfolio, making the stock its 22nd biggest position. Asset Dedication LLC's holdings in JPMorgan Chase & Co. were worth $8,123,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Redwood Park Advisors LLC acquired a new position in JPMorgan Chase & Co. during the fourth quarter worth about $29,000. Curat Global LLC acquired a new position in JPMorgan Chase & Co. during the first quarter worth about $33,000. Sellwood Investment Partners LLC acquired a new position in JPMorgan Chase & Co. during the fourth quarter worth about $34,000. Investment Counsel Co. of Nevada acquired a new position in JPMorgan Chase & Co. during the fourth quarter worth about $37,000. Finally, Prudent Man Investment Management Inc. acquired a new position in JPMorgan Chase & Co. during the fourth quarter worth about $43,000. Institutional investors and hedge funds own 71.55% of the company's stock.

Analyst Ratings Changes

Several research analysts have commented on JPM shares. Bank of America boosted their target price on JPMorgan Chase & Co. from $330.00 to $340.00 and gave the stock a "buy" rating in a research note on Wednesday. Citigroup set a $275.00 price target on JPMorgan Chase & Co. and gave the stock a "buy" rating in a report on Monday, July 7th. HSBC restated a "reduce" rating and set a $259.00 price target on shares of JPMorgan Chase & Co. in a report on Tuesday, July 8th. Morgan Stanley boosted their price target on JPMorgan Chase & Co. from $296.00 to $298.00 and gave the stock an "equal weight" rating in a report on Wednesday. Finally, TD Cowen initiated coverage on JPMorgan Chase & Co. in a report on Thursday, May 15th. They set a "buy" rating and a $305.00 price target on the stock. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $288.68.

JPMorgan Chase & Co. Trading Up 0.5%

NYSE JPM opened at $291.22 on Friday. The firm has a market capitalization of $809.33 billion, a P/E ratio of 14.94, a PEG ratio of 2.54 and a beta of 1.10. The business has a fifty day simple moving average of $274.67 and a 200 day simple moving average of $258.05. JPMorgan Chase & Co. has a 12 month low of $190.90 and a 12 month high of $296.40. The company has a current ratio of 0.88, a quick ratio of 0.89 and a debt-to-equity ratio of 1.25.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last released its quarterly earnings results on Tuesday, July 15th. The financial services provider reported $4.96 EPS for the quarter, beating analysts' consensus estimates of $4.48 by $0.48. The business had revenue of $44.91 billion during the quarter, compared to analyst estimates of $43.76 billion. JPMorgan Chase & Co. had a return on equity of 16.93% and a net margin of 20.52%. JPMorgan Chase & Co.'s quarterly revenue was down 10.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $6.12 EPS. On average, analysts predict that JPMorgan Chase & Co. will post 18.1 EPS for the current fiscal year.

JPMorgan Chase & Co. Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Thursday, July 3rd will be given a $1.40 dividend. This represents a $5.60 dividend on an annualized basis and a yield of 1.92%. The ex-dividend date of this dividend is Thursday, July 3rd. JPMorgan Chase & Co.'s payout ratio is currently 28.73%.

Insider Buying and Selling

In other JPMorgan Chase & Co. news, CFO Jeremy Barnum sold 40,014 shares of the company's stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $250.77, for a total value of $10,034,310.78. Following the completion of the transaction, the chief financial officer owned 18,017 shares in the company, valued at $4,518,123.09. This represents a 68.95% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Jennifer Piepszak sold 6,128 shares of the company's stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $262.47, for a total value of $1,608,416.16. Following the completion of the transaction, the chief operating officer owned 62,455 shares of the company's stock, valued at $16,392,563.85. This trade represents a 8.94% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 71,200 shares of company stock valued at $18,060,015. 0.47% of the stock is owned by corporate insiders.

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.

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