AdvisorNet Financial Inc lowered its position in shares of JPMorgan Chase & Co. (NYSE:JPM) by 5.4% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 33,654 shares of the financial services provider’s stock after selling 1,919 shares during the quarter. AdvisorNet Financial Inc’s holdings in JPMorgan Chase & Co. were worth $4,513,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. raised its holdings in shares of JPMorgan Chase & Co. by 1.1% in the 3rd quarter. Vanguard Group Inc. now owns 272,539,783 shares of the financial services provider’s stock worth $28,480,408,000 after purchasing an additional 2,918,554 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in shares of JPMorgan Chase & Co. by 23.3% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 31,667,210 shares of the financial services provider’s stock worth $3,566,044,000 after purchasing an additional 5,978,393 shares during the period. Legal & General Group Plc raised its holdings in shares of JPMorgan Chase & Co. by 4.2% in the 2nd quarter. Legal & General Group Plc now owns 21,156,537 shares of the financial services provider’s stock worth $2,382,439,000 after purchasing an additional 847,094 shares during the period. Dimensional Fund Advisors LP raised its holdings in shares of JPMorgan Chase & Co. by 5.3% in the 3rd quarter. Dimensional Fund Advisors LP now owns 21,084,558 shares of the financial services provider’s stock worth $2,203,621,000 after purchasing an additional 1,058,790 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of JPMorgan Chase & Co. by 4.5% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 18,607,661 shares of the financial services provider’s stock worth $2,536,598,000 after purchasing an additional 805,196 shares during the period. Institutional investors own 67.89% of the company’s stock.
Analyst Ratings Changes
A number of equities research analysts recently commented on JPM shares. Oppenheimer lowered their price target on shares of JPMorgan Chase & Co. from $186.00 to $157.00 and set an “outperform” rating on the stock in a report on Thursday. StockNews.com initiated coverage on shares of JPMorgan Chase & Co. in a report on Thursday, March 16th. They set a “hold” rating on the stock. Credit Suisse Group set a $155.00 target price on shares of JPMorgan Chase & Co. in a report on Monday, February 27th. Citigroup boosted their target price on shares of JPMorgan Chase & Co. from $150.00 to $165.00 in a report on Tuesday, January 17th. Finally, Barclays boosted their target price on shares of JPMorgan Chase & Co. from $162.00 to $189.00 and gave the company an “overweight” rating in a report on Tuesday, January 3rd. Six equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $149.17.
JPMorgan Chase & Co. Stock Down 0.3 %
JPMorgan Chase & Co. (NYSE:JPM – Get Rating) last announced its earnings results on Friday, January 13th. The financial services provider reported $3.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.11 by $0.46. JPMorgan Chase & Co. had a net margin of 24.34% and a return on equity of 14.68%. The company had revenue of $34.55 billion during the quarter, compared to analyst estimates of $34.23 billion. During the same period in the previous year, the business earned $3.33 earnings per share. The firm’s quarterly revenue was up 18.1% compared to the same quarter last year. Equities research analysts expect that JPMorgan Chase & Co. will post 12.9 earnings per share for the current fiscal year.
JPMorgan Chase & Co. Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Sunday, April 30th. Investors of record on Thursday, April 6th will be given a $1.00 dividend. The ex-dividend date is Wednesday, April 5th. This represents a $4.00 annualized dividend and a yield of 3.15%. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is presently 33.11%.
Insiders Place Their Bets
In other JPMorgan Chase & Co. news, General Counsel Stacey Friedman sold 23,148 shares of the business’s stock in a transaction on Tuesday, January 17th. The shares were sold at an average price of $140.31, for a total value of $3,247,895.88. Following the completion of the sale, the general counsel now directly owns 48,311 shares of the company’s stock, valued at $6,778,516.41. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other JPMorgan Chase & Co. news, General Counsel Stacey Friedman sold 23,148 shares of the business’s stock in a transaction on Tuesday, January 17th. The shares were sold at an average price of $140.31, for a total value of $3,247,895.88. Following the completion of the sale, the general counsel now directly owns 48,311 shares of the company’s stock, valued at $6,778,516.41. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Mary E. Erdoes sold 10,340 shares of the business’s stock in a transaction on Tuesday, January 17th. The stock was sold at an average price of $140.29, for a total transaction of $1,450,598.60. Following the completion of the sale, the chief executive officer now directly owns 544,136 shares of the company’s stock, valued at $76,336,839.44. The disclosure for this sale can be found here. Insiders sold 37,887 shares of company stock valued at $5,315,762 over the last three months. Insiders own 0.79% of the company’s stock.
About JPMorgan Chase & Co.
JPMorgan Chase & Co is a financial holding company, which engages in providing financial and investment banking services. The firm offers a range of investment banking products and services in all capital markets, including advising on corporate strategy and structure, capital raising in equity and debt markets, risk management, market making in cash securities and derivative instruments, and brokerage and research.
Read More
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