Private Trust Co. NA trimmed its stake in JPMorgan Chase & Co. (NYSE:JPM) by 4.9% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 43,254 shares of the financial services provider’s stock after selling 2,217 shares during the quarter. JPMorgan Chase & Co. accounts for 0.9% of Private Trust Co. NA’s portfolio, making the stock its 17th largest position. Private Trust Co. NA’s holdings in JPMorgan Chase & Co. were worth $5,800,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. HBC Financial Services PLLC increased its holdings in JPMorgan Chase & Co. by 61.2% in the 2nd quarter. HBC Financial Services PLLC now owns 237 shares of the financial services provider’s stock valued at $27,000 after buying an additional 90 shares during the period. Creative Capital Management Investments LLC acquired a new position in JPMorgan Chase & Co. during the 4th quarter valued at about $30,000. Horizons Wealth Management bought a new stake in JPMorgan Chase & Co. during the 2nd quarter worth approximately $39,000. New Millennium Group LLC bought a new position in shares of JPMorgan Chase & Co. during the 2nd quarter worth approximately $39,000. Finally, Parkwood LLC boosted its holdings in shares of JPMorgan Chase & Co. by 7.1% in the 2nd quarter. Parkwood LLC now owns 43,703 shares of the financial services provider’s stock valued at $44,000 after buying an additional 2,885 shares during the last quarter. Institutional investors own 67.89% of the company’s stock.
Insider Activity
In related news, Director Mellody L. Hobson purchased 375 shares of the firm’s stock in a transaction that occurred on Thursday, January 19th. The shares were purchased at an average cost of $134.53 per share, with a total value of $50,448.75. Following the purchase, the director now owns 22,040 shares of the company’s stock, valued at approximately $2,965,041.20. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director Mellody L. Hobson bought 375 shares of the company’s stock in a transaction that occurred on Thursday, January 19th. The stock was purchased at an average price of $134.53 per share, for a total transaction of $50,448.75. Following the acquisition, the director now owns 22,040 shares of the company’s stock, valued at $2,965,041.20. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Vice Chairman Peter Scher sold 4,399 shares of JPMorgan Chase & Co. stock in a transaction that occurred on Tuesday, January 17th. The shares were sold at an average price of $140.32, for a total transaction of $617,267.68. Following the completion of the sale, the insider now owns 36,369 shares of the company’s stock, valued at approximately $5,103,298.08. The disclosure for this sale can be found here. Insiders have sold 37,887 shares of company stock worth $5,315,762 in the last ninety days. Company insiders own 0.79% of the company’s stock.
JPMorgan Chase & Co. Stock Down 1.5 %
JPMorgan Chase & Co. (NYSE:JPM – Get Rating) last posted its earnings results on Friday, January 13th. The financial services provider reported $3.57 earnings per share for the quarter, topping analysts’ consensus estimates of $3.11 by $0.46. JPMorgan Chase & Co. had a return on equity of 14.68% and a net margin of 24.34%. The company had revenue of $34.55 billion during the quarter, compared to analyst estimates of $34.23 billion. During the same quarter in the prior year, the business earned $3.33 earnings per share. JPMorgan Chase & Co.’s revenue was up 18.1% on a year-over-year basis. Sell-side analysts expect that JPMorgan Chase & Co. will post 12.88 earnings per share for the current year.
JPMorgan Chase & Co. Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Sunday, April 30th. Shareholders of record on Thursday, April 6th will be given a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a yield of 3.20%. The ex-dividend date is Wednesday, April 5th. JPMorgan Chase & Co.’s dividend payout ratio is currently 33.11%.
Wall Street Analysts Forecast Growth
JPM has been the topic of several recent research reports. Royal Bank of Canada lowered their price objective on JPMorgan Chase & Co. from $150.00 to $132.00 and set an “outperform” rating on the stock in a research report on Friday. Wells Fargo & Company raised JPMorgan Chase & Co. from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $148.00 to $155.00 in a research report on Monday, March 13th. Deutsche Bank Aktiengesellschaft cut JPMorgan Chase & Co. from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $155.00 to $145.00 in a report on Friday, January 6th. Credit Suisse Group set a $155.00 price target on JPMorgan Chase & Co. in a research report on Monday, February 27th. Finally, Barclays raised their target price on JPMorgan Chase & Co. from $162.00 to $189.00 and gave the company an “overweight” rating in a research note on Tuesday, January 3rd. Six research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, JPMorgan Chase & Co. presently has a consensus rating of “Moderate Buy” and an average price target of $149.28.
JPMorgan Chase & Co. Profile
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.
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