JPMorgan Chase & Co. $JPM Shares Sold by Asset Dedication LLC

Asset Dedication LLC cut its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 8.6% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 31,641 shares of the financial services provider’s stock after selling 2,989 shares during the quarter. JPMorgan Chase & Co. accounts for 0.7% of Asset Dedication LLC’s investment portfolio, making the stock its 24th largest position. Asset Dedication LLC’s holdings in JPMorgan Chase & Co. were worth $9,980,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Mountain Hill Investment Partners Corp. purchased a new stake in JPMorgan Chase & Co. in the 3rd quarter worth $32,000. Family Legacy Financial Solutions LLC increased its stake in shares of JPMorgan Chase & Co. by 92.6% during the third quarter. Family Legacy Financial Solutions LLC now owns 104 shares of the financial services provider’s stock worth $33,000 after purchasing an additional 50 shares in the last quarter. Mizuho Securities Co. Ltd. raised its position in shares of JPMorgan Chase & Co. by 450.0% during the 2nd quarter. Mizuho Securities Co. Ltd. now owns 110 shares of the financial services provider’s stock worth $32,000 after purchasing an additional 90 shares during the last quarter. Turning Point Benefit Group Inc. acquired a new position in shares of JPMorgan Chase & Co. during the 3rd quarter worth about $35,000. Finally, Collier Financial purchased a new position in JPMorgan Chase & Co. in the 3rd quarter valued at about $60,000. 71.55% of the stock is owned by institutional investors and hedge funds.

JPMorgan Chase & Co. Trading Up 0.3%

JPM opened at $287.68 on Thursday. JPMorgan Chase & Co. has a one year low of $202.16 and a one year high of $337.25. The stock has a market capitalization of $775.88 billion, a PE ratio of 14.38, a P/E/G ratio of 1.19 and a beta of 1.06. The business’s 50 day moving average price is $304.03 and its 200 day moving average price is $308.08. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.85 and a current ratio of 0.85.

JPMorgan Chase & Co. (NYSE:JPMGet Free Report) last posted its earnings results on Tuesday, January 13th. The financial services provider reported $5.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.93 by $0.30. JPMorgan Chase & Co. had a return on equity of 17.16% and a net margin of 20.35%.The company had revenue of $45.80 billion during the quarter, compared to analysts’ expectations of $45.98 billion. During the same quarter last year, the firm earned $4.81 earnings per share. The firm’s quarterly revenue was up 7.1% compared to the same quarter last year. As a group, equities research analysts expect that JPMorgan Chase & Co. will post 18.1 EPS for the current year.

JPMorgan Chase & Co. Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 30th. Shareholders of record on Monday, April 6th will be given a $1.50 dividend. The ex-dividend date of this dividend is Monday, April 6th. This represents a $6.00 dividend on an annualized basis and a yield of 2.1%. JPMorgan Chase & Co.’s payout ratio is presently 29.99%.

Key JPMorgan Chase & Co. News

Here are the key news stories impacting JPMorgan Chase & Co. this week:

Analyst Upgrades and Downgrades

JPM has been the topic of several research analyst reports. TD Cowen reiterated a “buy” rating on shares of JPMorgan Chase & Co. in a report on Wednesday, January 7th. Wells Fargo & Company decreased their target price on JPMorgan Chase & Co. from $360.00 to $350.00 and set an “overweight” rating on the stock in a research report on Tuesday, February 17th. The Goldman Sachs Group lifted their price target on JPMorgan Chase & Co. from $386.00 to $397.00 and gave the stock a “buy” rating in a research note on Monday, January 26th. Wall Street Zen upgraded JPMorgan Chase & Co. from a “sell” rating to a “hold” rating in a research report on Sunday, January 18th. Finally, Morgan Stanley set a $331.00 price objective on JPMorgan Chase & Co. in a research note on Tuesday, December 9th. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and twelve have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $340.00.

Get Our Latest Analysis on JPMorgan Chase & Co.

Insider Buying and Selling

In other news, CEO Troy L. Rohrbaugh sold 50,000 shares of the stock in a transaction dated Thursday, February 19th. The shares were sold at an average price of $307.11, for a total transaction of $15,355,500.00. Following the sale, the chief executive officer owned 111,279 shares of the company’s stock, valued at approximately $34,174,893.69. This represents a 31.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Jeremy Barnum sold 2,892 shares of JPMorgan Chase & Co. stock in a transaction that occurred on Tuesday, February 17th. The shares were sold at an average price of $306.42, for a total transaction of $886,166.64. Following the completion of the transaction, the chief financial officer owned 23,804 shares of the company’s stock, valued at $7,294,021.68. This trade represents a 10.83% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 71,596 shares of company stock valued at $22,067,932 over the last quarter. 0.47% of the stock is owned by corporate insiders.

JPMorgan Chase & Co. Profile

(Free Report)

JPMorgan Chase & Co (NYSE: JPM) is a diversified global financial services firm headquartered in New York City. The company provides a wide range of banking and financial products and services to consumers, small businesses, corporations, governments and institutional investors worldwide. Its operations span retail banking, commercial lending, investment banking, asset management, payments and card services, and treasury and securities services.

The firm’s principal business activities are organized across several core lines: Consumer & Community Banking, which offers deposit accounts, mortgages, auto loans, credit cards and branch and digital banking under the Chase brand; Corporate & Investment Banking, which provides capital markets, advisory, underwriting, trading and risk management services; Commercial Banking, delivering lending, treasury and capital solutions to middle-market and corporate clients; and Asset & Wealth Management, which offers investment management, private banking and retirement services to institutions and high-net-worth individuals.

Further Reading

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Institutional Ownership by Quarter for JPMorgan Chase & Co. (NYSE:JPM)

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