New England Asset Management Inc. lowered its stake in shares of JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 17.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 47,710 shares of the financial services provider's stock after selling 10,410 shares during the period. JPMorgan Chase & Co. accounts for about 2.0% of New England Asset Management Inc.'s investment portfolio, making the stock its 8th biggest holding. New England Asset Management Inc.'s holdings in JPMorgan Chase & Co. were worth $11,437,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds also recently bought and sold shares of the company. Redwood Park Advisors LLC purchased a new stake in JPMorgan Chase & Co. during the fourth quarter worth $29,000. Sellwood Investment Partners LLC purchased a new stake in shares of JPMorgan Chase & Co. during the 4th quarter valued at $34,000. Investment Counsel Co. of Nevada purchased a new stake in shares of JPMorgan Chase & Co. during the 4th quarter valued at $37,000. Midwest Capital Advisors LLC purchased a new stake in shares of JPMorgan Chase & Co. during the 4th quarter valued at $43,000. Finally, Prudent Man Investment Management Inc. purchased a new stake in shares of JPMorgan Chase & Co. during the 4th quarter valued at $43,000. Hedge funds and other institutional investors own 71.55% of the company's stock.
Analyst Ratings Changes
JPM has been the subject of several analyst reports. Robert W. Baird upgraded JPMorgan Chase & Co. from an "underperform" rating to a "neutral" rating and increased their price objective for the company from $215.00 to $220.00 in a report on Friday, March 7th. KGI Securities initiated coverage on JPMorgan Chase & Co. in a report on Sunday, April 13th. They set a "hold" rating for the company. Keefe, Bruyette & Woods increased their price objective on JPMorgan Chase & Co. from $257.00 to $264.00 and gave the company a "market perform" rating in a report on Thursday, January 16th. StockNews.com lowered JPMorgan Chase & Co. from a "hold" rating to a "sell" rating in a report on Tuesday, May 6th. Finally, Evercore ISI cut their target price on JPMorgan Chase & Co. from $273.00 to $265.00 and set an "outperform" rating on the stock in a research report on Tuesday, April 1st. One analyst has rated the stock with a sell rating, ten have given a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $255.67.
View Our Latest Research Report on JPMorgan Chase & Co.
Insider Transactions at JPMorgan Chase & Co.
In related news, CFO Jeremy Barnum sold 40,014 shares of the firm's stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $250.77, for a total value of $10,034,310.78. Following the transaction, the chief financial officer now directly owns 18,017 shares of the company's stock, valued at approximately $4,518,123.09. This trade represents a 68.95% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, COO Jennifer Piepszak sold 6,129 shares of the firm's stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $250.76, for a total transaction of $1,536,908.04. Following the completion of the transaction, the chief operating officer now directly owns 68,583 shares in the company, valued at $17,197,873.08. This represents a 8.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 129,188 shares of company stock valued at $33,095,363 in the last ninety days. 0.47% of the stock is currently owned by corporate insiders.
JPMorgan Chase & Co. Price Performance
Shares of JPM opened at $259.67 on Tuesday. The business's 50-day moving average is $238.44 and its two-hundred day moving average is $246.08. The company has a market capitalization of $721.66 billion, a P/E ratio of 13.15, a P/E/G ratio of 2.83 and a beta of 1.07. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.89 and a current ratio of 0.88. JPMorgan Chase & Co. has a fifty-two week low of $190.88 and a fifty-two week high of $280.25.
JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last announced its quarterly earnings results on Friday, April 11th. The financial services provider reported $5.07 earnings per share for the quarter, topping the consensus estimate of $4.63 by $0.44. JPMorgan Chase & Co. had a return on equity of 16.99% and a net margin of 20.96%. The company had revenue of $45.30 billion for the quarter, compared to the consensus estimate of $43.62 billion. During the same period last year, the firm earned $4.44 EPS. The firm's revenue for the quarter was up 8.0% compared to the same quarter last year. Research analysts predict that JPMorgan Chase & Co. will post 18.1 earnings per share for the current year.
JPMorgan Chase & Co. Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Wednesday, April 30th. Stockholders of record on Friday, April 4th were paid a dividend of $1.40 per share. This is a positive change from JPMorgan Chase & Co.'s previous quarterly dividend of $1.25. This represents a $5.60 annualized dividend and a dividend yield of 2.16%. The ex-dividend date was Friday, April 4th. JPMorgan Chase & Co.'s dividend payout ratio is presently 27.49%.
JPMorgan Chase & Co. Profile
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Free Report)
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.
Further Reading
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