Ironwood Investment Management LLC cut its stake in JPMorgan Chase & Co. (NYSE:JPM) by 6.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,338 shares of the financial services provider’s stock after selling 510 shares during the period. Ironwood Investment Management LLC’s holdings in JPMorgan Chase & Co. were worth $984,000 as of its most recent SEC filing.
Several other large investors have also recently added to or reduced their stakes in the stock. Premier Asset Management LLC boosted its position in shares of 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 period. Trellis Advisors LLC lifted its stake in 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 worth $302,000 after acquiring an additional 79 shares in the last quarter. Karpas Strategies LLC lifted its stake in 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 worth $2,251,000 after acquiring an additional 80 shares in the last quarter. Wulff Hansen & CO. lifted its stake in JPMorgan Chase & Co. by 0.5% in the 3rd quarter. Wulff Hansen & CO. now owns 14,665 shares of the financial services provider’s stock worth $1,532,000 after acquiring an additional 80 shares in the last quarter. Finally, LVZ Inc. lifted its stake in JPMorgan Chase & Co. by 1.7% in the 4th quarter. LVZ Inc. now owns 4,746 shares of the financial services provider’s stock worth $636,000 after acquiring an additional 80 shares in the last quarter. 67.89% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
JPM has been the subject of several research analyst reports. StockNews.com initiated coverage on JPMorgan Chase & Co. in a research note on Thursday, March 16th. They issued a “hold” rating for the company. The Goldman Sachs Group raised their price target on JPMorgan Chase & Co. from $160.00 to $172.00 in a research note on Friday, April 14th. Oppenheimer raised their price target on JPMorgan Chase & Co. from $157.00 to $192.00 and gave the stock an “outperformer” rating in a research note on Monday. Wells Fargo & Company raised their price target on JPMorgan Chase & Co. from $155.00 to $165.00 and gave the stock an “overweight” rating in a research note on Monday. Finally, Credit Suisse Group raised their price target on JPMorgan Chase & Co. from $155.00 to $160.00 in a research note on Tuesday. Six analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $154.94.
JPMorgan Chase & Co. Stock Performance
JPMorgan Chase & Co. (NYSE:JPM – Get Rating) last announced its quarterly earnings data on Friday, April 14th. The financial services provider reported $4.10 earnings per share for the quarter, topping the consensus estimate of $3.41 by $0.69. JPMorgan Chase & Co. had a return on equity of 16.02% and a net margin of 23.73%. The company had revenue of $38.35 billion for the quarter, compared to analyst estimates of $35.77 billion. During the same quarter last year, the firm earned $2.63 EPS. JPMorgan Chase & Co.’s revenue for the quarter was up 24.8% compared to the same quarter last year. On average, equities analysts forecast that JPMorgan Chase & Co. will post 13.76 earnings per share for the current year.
JPMorgan Chase & Co. Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Sunday, April 30th. Stockholders of record on Thursday, April 6th will be issued a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a dividend yield of 2.84%. The ex-dividend date is Wednesday, April 5th. JPMorgan Chase & Co.’s payout ratio is presently 29.52%.
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.
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