Plimoth Trust Co. LLC cut its stake in shares of JPMorgan Chase & Co. (NYSE:JPM – Get Rating) by 3.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 60,821 shares of the financial services provider’s stock after selling 1,903 shares during the period. JPMorgan Chase & Co. comprises approximately 2.6% of Plimoth Trust Co. LLC’s holdings, making the stock its 3rd largest position. Plimoth Trust Co. LLC’s holdings in JPMorgan Chase & Co. were worth $8,156,000 at the end of the most recent reporting period.
Other hedge funds have also recently modified their holdings of the company. Premier Asset Management LLC boosted its holdings in JPMorgan Chase & Co. by 1.7% in the 3rd quarter. Premier Asset Management LLC now owns 4,635 shares of the financial services provider’s stock valued at $484,000 after purchasing an additional 77 shares during the last quarter. Trellis Advisors LLC raised its stake in shares of JPMorgan Chase & Co. by 2.8% in the 3rd quarter. Trellis Advisors LLC now owns 2,897 shares of the financial services provider’s stock valued at $302,000 after acquiring an additional 79 shares during the period. Karpas Strategies LLC raised its stake in shares of JPMorgan Chase & Co. by 0.4% in the 3rd quarter. Karpas Strategies LLC now owns 21,537 shares of the financial services provider’s stock valued at $2,251,000 after acquiring an additional 80 shares during the period. Wulff Hansen & CO. increased its stake in JPMorgan Chase & Co. by 0.5% during the 3rd quarter. Wulff Hansen & CO. now owns 14,665 shares of the financial services provider’s stock worth $1,532,000 after buying an additional 80 shares during the period. Finally, LVZ Inc. increased its stake in JPMorgan Chase & Co. by 1.7% during the 4th quarter. LVZ Inc. now owns 4,746 shares of the financial services provider’s stock worth $636,000 after buying an additional 80 shares during the period. Institutional investors own 67.89% of the company’s stock.
Insider Activity at JPMorgan Chase & Co.
In other JPMorgan Chase & Co. news, Director Mellody L. Hobson purchased 375 shares of the business’s stock in a transaction on Thursday, January 19th. The stock was bought at an average cost of $134.53 per share, with a total value 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 legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Mellody L. Hobson acquired 375 shares of JPMorgan Chase & Co. stock in a transaction on Thursday, January 19th. The stock was bought at an average cost of $134.53 per share, with a total value of $50,448.75. Following the completion of the purchase, the director now owns 22,040 shares of the company’s stock, valued at $2,965,041.20. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, General Counsel Stacey Friedman sold 23,148 shares of the stock in a transaction that occurred on Tuesday, January 17th. The stock was sold at an average price of $140.31, for a total transaction 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 disclosure for this sale can be found here. Insiders sold 37,887 shares of company stock worth $5,315,762 in the last 90 days. Corporate insiders own 0.79% of the company’s stock.
JPMorgan Chase & Co. Trading Down 0.3 %
JPMorgan Chase & Co. (NYSE:JPM – Get Rating) last issued its quarterly earnings results on Friday, January 13th. The financial services provider reported $3.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.11 by $0.46. The business had revenue of $34.55 billion during the quarter, compared to analyst estimates of $34.23 billion. JPMorgan Chase & Co. had a net margin of 24.34% and a return on equity of 14.68%. The business’s revenue was up 18.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.33 earnings per share. Analysts expect that JPMorgan Chase & Co. will post 12.9 EPS 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 of this dividend is Wednesday, April 5th. This represents a $4.00 dividend on an annualized basis and a yield of 3.11%. JPMorgan Chase & Co.’s dividend payout ratio is presently 33.11%.
Wall Street Analyst Weigh In
Several brokerages recently weighed in on JPM. Citigroup upped their target price on shares of JPMorgan Chase & Co. from $150.00 to $165.00 in a research note on Tuesday, January 17th. Wells Fargo & Company upgraded shares of JPMorgan Chase & Co. from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $148.00 to $155.00 in a report on Monday, March 13th. Barclays boosted their price target on shares of JPMorgan Chase & Co. from $162.00 to $189.00 and gave the stock an “overweight” rating in a report on Tuesday, January 3rd. Oppenheimer lowered their price target on shares of JPMorgan Chase & Co. from $186.00 to $157.00 and set an “outperform” rating for the company in a report on Thursday, March 23rd. Finally, Deutsche Bank Aktiengesellschaft cut shares of JPMorgan Chase & Co. from a “buy” rating to a “hold” rating and lowered their price target for the stock from $155.00 to $145.00 in a report on Friday, January 6th. Six investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $149.28.
JPMorgan Chase & Co. Company 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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