Gilman Hill Asset Management LLC cut its holdings in JPMorgan Chase & Co. (NYSE:JPM – Get Rating) by 8.1% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 10,879 shares of the financial services provider’s stock after selling 964 shares during the quarter. Gilman Hill Asset Management LLC’s holdings in JPMorgan Chase & Co. were worth $1,459,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Retirement Financial Solutions LLC acquired a new position in shares of JPMorgan Chase & Co. in the fourth quarter valued at about $26,000. HBC Financial Services PLLC increased its holdings in shares of JPMorgan Chase & Co. by 61.2% in the second quarter. HBC Financial Services PLLC now owns 237 shares of the financial services provider’s stock valued at $27,000 after purchasing an additional 90 shares during the period. Creative Capital Management Investments LLC acquired a new position in shares of JPMorgan Chase & Co. in the fourth quarter valued at about $30,000. Horizons Wealth Management acquired a new position in shares of JPMorgan Chase & Co. in the second quarter valued at about $39,000. Finally, New Millennium Group LLC acquired a new position in shares of JPMorgan Chase & Co. in the second quarter valued at about $39,000. 67.89% of the stock is currently owned by hedge funds and other institutional investors.
Insiders Place Their Bets
In other JPMorgan Chase & Co. news, Director Mellody L. Hobson bought 375 shares of the business’s stock in a transaction on Thursday, January 19th. The stock was bought at an average price of $134.53 per share, with a total value of $50,448.75. Following the completion of the purchase, the director now directly owns 22,040 shares in the company, valued at $2,965,041.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Mellody L. Hobson acquired 375 shares of the company’s stock in a transaction dated Thursday, January 19th. The stock was acquired 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 approximately $2,965,041.20. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, General Counsel Stacey Friedman sold 23,148 shares of JPMorgan Chase & Co. 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 disclosure for this sale can be found here. Insiders sold a total of 37,887 shares of company stock valued at $5,315,762 over the last quarter. 0.79% of the stock is owned by insiders.
JPMorgan Chase & Co. Stock Performance
JPMorgan Chase & Co. (NYSE:JPM – Get Rating) last released its earnings results on Friday, January 13th. The financial services provider reported $3.57 earnings per share for the quarter, beating the consensus estimate of $3.11 by $0.46. The business had revenue of $34.55 billion for the quarter, compared to the consensus estimate of $34.23 billion. JPMorgan Chase & Co. had a return on equity of 14.68% and a net margin of 24.34%. The business’s quarterly revenue was up 18.1% compared to the same quarter last year. During the same quarter last year, the business posted $3.33 earnings per share. As a group, equities research analysts anticipate that JPMorgan Chase & Co. will post 12.9 EPS for the current fiscal year.
JPMorgan Chase & Co. Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Sunday, April 30th. Investors of record on Thursday, April 6th will be given a dividend of $1.00 per share. 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 3.07%. JPMorgan Chase & Co.’s payout ratio is 33.11%.
Wall Street Analysts Forecast Growth
A number of research analysts have recently weighed in on JPM shares. Credit Suisse Group set a $155.00 price objective on JPMorgan Chase & Co. in a report on Monday, February 27th. UBS Group set a $156.00 price objective on JPMorgan Chase & Co. in a report on Friday, January 13th. Wells Fargo & Company raised JPMorgan Chase & Co. from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $148.00 to $155.00 in a report on Monday, March 13th. StockNews.com assumed coverage on JPMorgan Chase & Co. in a report on Thursday, March 16th. They set a “hold” rating on the stock. Finally, Barclays raised their target price on JPMorgan Chase & Co. from $162.00 to $189.00 and gave the stock an “overweight” rating in a report on Tuesday, January 3rd. Six analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price 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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