Overbrook Management Corp decreased its position in JPMorgan Chase & Co. (NYSE:JPM) by 2.5% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 31,540 shares of the financial services provider’s stock after selling 812 shares during the period. JPMorgan Chase & Co. accounts for 1.6% of Overbrook Management Corp’s holdings, making the stock its 24th biggest position. Overbrook Management Corp’s holdings in JPMorgan Chase & Co. were worth $7,560,000 at the end of the most recent quarter.
Several other hedge funds have also recently modified their holdings of JPM. Mizuho Securities Co. Ltd. bought a new stake in JPMorgan Chase & Co. during the third quarter worth $25,000. Catalyst Capital Advisors LLC purchased a new stake in shares of JPMorgan Chase & Co. during the 3rd quarter valued at $27,000. West Financial Advisors LLC bought a new stake in shares of JPMorgan Chase & Co. during the 3rd quarter worth $37,000. New England Capital Financial Advisors LLC grew its position in JPMorgan Chase & Co. by 38.5% during the third quarter. New England Capital Financial Advisors LLC now owns 180 shares of the financial services provider’s stock valued at $38,000 after buying an additional 50 shares during the period. Finally, Carolina Wealth Advisors LLC increased its holdings in JPMorgan Chase & Co. by 36.0% during the third quarter. Carolina Wealth Advisors LLC now owns 189 shares of the financial services provider’s stock worth $40,000 after buying an additional 50 shares during the last quarter. Institutional investors own 71.55% of the company’s stock.
Wall Street Analyst Weigh In
A number of research analysts have recently weighed in on JPM shares. Barclays increased their target price on shares of JPMorgan Chase & Co. from $304.00 to $330.00 and gave the company an “overweight” rating in a research report on Thursday, January 16th. 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 note on Thursday, January 16th. Royal Bank of Canada increased their price target on JPMorgan Chase & Co. from $211.00 to $230.00 and gave the stock an “outperform” rating in a research note on Monday, October 14th. Bank of America boosted their price objective on JPMorgan Chase & Co. from $260.00 to $280.00 and gave the company a “buy” rating in a research note on Tuesday, January 7th. Finally, 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. Two analysts have rated the stock with a sell rating, eight have given a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $251.78.
Insider Activity
In other JPMorgan Chase & Co. news, General Counsel Stacey Friedman sold 3,303 shares of the stock in a transaction that occurred on Thursday, January 16th. The shares were sold at an average price of $253.94, for a total transaction of $838,763.82. Following the transaction, the general counsel now directly owns 47,620 shares in the company, valued at $12,092,622.80. This trade represents a 6.49 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.79% of the company’s stock.
JPMorgan Chase & Co. Trading Up 1.1 %
Shares of JPM opened at $265.61 on Friday. JPMorgan Chase & Co. has a 1-year low of $168.86 and a 1-year high of $266.86. The company has a market capitalization of $747.79 billion, a P/E ratio of 13.46, a P/E/G ratio of 2.83 and a beta of 1.11. 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’s 50 day simple moving average is $244.81 and its 200 day simple moving average is $225.56.
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 for the quarter, beating the consensus estimate 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 for the quarter, compared to analysts’ expectations of $41.90 billion. During the same quarter last year, the company posted $3.04 EPS. The business’s quarterly revenue was up 10.9% on a year-over-year basis. Sell-side analysts forecast that JPMorgan Chase & Co. will post 17.82 earnings per share for the current fiscal year.
JPMorgan Chase & Co. Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Monday, January 6th will be issued a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a dividend yield of 1.88%. The ex-dividend date of this dividend is Monday, January 6th. JPMorgan Chase & Co.’s payout ratio is currently 25.33%.
JPMorgan Chase & Co. Company Profile
JPMorgan Chase & Co operates as a financial services company worldwide. It operates through four segments: Consumer & Community Banking (CCB), Corporate & Investment Bank (CIB), Commercial Banking (CB), and Asset & Wealth Management (AWM). The CCB segment offers deposit, investment and lending products, cash management, and payments and services; mortgage origination and servicing activities; residential mortgages and home equity loans; and credit cards, auto loans, leases, and travel services to consumers and small businesses through bank branches, ATMs, and digital and telephone banking.
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