Westchester Capital Management Inc. decreased its position in shares of JPMorgan Chase & Co. (NYSE:JPM – Get Rating) by 0.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 96,638 shares of the financial services provider’s stock after selling 588 shares during the period. JPMorgan Chase & Co. makes up approximately 3.8% of Westchester Capital Management Inc.’s investment portfolio, making the stock its 13th biggest position. Westchester Capital Management Inc.’s holdings in JPMorgan Chase & Co. were worth $12,959,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its position in shares of JPMorgan Chase & Co. by 1.1% during the third quarter. Vanguard Group Inc. now owns 272,539,783 shares of the financial services provider’s stock valued at $28,480,408,000 after buying an additional 2,918,554 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of JPMorgan Chase & Co. by 5.3% during the third quarter. Dimensional Fund Advisors LP now owns 21,084,558 shares of the financial services provider’s stock valued at $2,203,621,000 after buying an additional 1,058,790 shares during the period. Charles Schwab Investment Management Inc. boosted its position in shares of JPMorgan Chase & Co. by 4.5% during the first quarter. Charles Schwab Investment Management Inc. now owns 18,607,661 shares of the financial services provider’s stock valued at $2,536,598,000 after buying an additional 805,196 shares during the period. Nuveen Asset Management LLC boosted its position in shares of JPMorgan Chase & Co. by 0.7% during the third quarter. Nuveen Asset Management LLC now owns 15,606,783 shares of the financial services provider’s stock valued at $1,630,909,000 after buying an additional 102,242 shares during the period. Finally, Boston Partners boosted its position in shares of JPMorgan Chase & Co. by 28.4% during the third quarter. Boston Partners now owns 10,063,918 shares of the financial services provider’s stock valued at $1,061,182,000 after buying an additional 2,227,785 shares during the period. Hedge funds and other institutional investors own 67.89% of the company’s stock.
Insider Buying and Selling at JPMorgan Chase & Co.
In other JPMorgan Chase & Co. news, CEO Daniel E. Pinto sold 113,640 shares of the stock in a transaction dated Thursday, May 11th. The shares were sold at an average price of $135.93, for a total value of $15,447,085.20. Following the completion of the sale, the chief executive officer now owns 566,665 shares in the company, valued at approximately $77,026,773.45. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.79% of the stock is owned by insiders.
JPMorgan Chase & Co. Stock Down 0.3 %
JPMorgan Chase & Co. (NYSE:JPM – Get Rating) last released its quarterly earnings results 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. The firm had revenue of $38.35 billion during the quarter, compared to the consensus estimate of $35.77 billion. JPMorgan Chase & Co. had a net margin of 23.73% and a return on equity of 16.02%. The company’s revenue for the quarter was up 24.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.63 EPS. Sell-side analysts expect that JPMorgan Chase & Co. will post 14.33 earnings per share for the current fiscal year.
JPMorgan Chase & Co. Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Sunday, April 30th. Shareholders of record on Thursday, April 6th were issued a $1.00 dividend. The ex-dividend date of this dividend was Wednesday, April 5th. This represents a $4.00 dividend on an annualized basis and a yield of 2.94%. JPMorgan Chase & Co.’s payout ratio is 29.52%.
Wall Street Analyst Weigh In
Several research analysts have issued reports on JPM shares. Evercore ISI dropped their target price on JPMorgan Chase & Co. from $157.00 to $146.00 and set an “outperform” rating for the company in a research report on Wednesday, April 5th. Wells Fargo & Company lifted their price target on shares of JPMorgan Chase & Co. from $155.00 to $165.00 and gave the company an “overweight” rating in a research note on Monday, April 17th. Royal Bank of Canada decreased their price target on shares of JPMorgan Chase & Co. from $150.00 to $132.00 and set an “outperform” rating for the company in a research note on Friday, March 24th. Keefe, Bruyette & Woods boosted their price objective on shares of JPMorgan Chase & Co. from $131.00 to $155.00 and gave the stock a “market perform” rating in a research note on Monday, April 17th. Finally, Bank of America boosted their price objective on shares of JPMorgan Chase & Co. from $152.00 to $158.00 and gave the stock a “buy” rating in a research note on Monday, April 17th. Six analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $155.00.
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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