JPMorgan Chase & Co. (NYSE:JPM) Shares Sold by Independence Bank of Kentucky

Independence Bank of Kentucky reduced its stake in shares of JPMorgan Chase & Co. (NYSE:JPM – Get Rating) by 1.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 27,636 shares of the financial services provider’s stock after selling 277 shares during the quarter. JPMorgan Chase & Co. comprises about 1.7% of Independence Bank of Kentucky’s investment portfolio, making the stock its 10th largest holding. Independence Bank of Kentucky’s holdings in JPMorgan Chase & Co. were worth $3,706,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Premier Asset Management LLC raised its holdings in shares of JPMorgan Chase & Co. by 1.7% during 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 in the last quarter. Trellis Advisors LLC raised its holdings in shares of JPMorgan Chase & Co. by 2.8% during the 3rd quarter. Trellis Advisors LLC now owns 2,897 shares of the financial services provider’s stock valued at $302,000 after purchasing an additional 79 shares in the last quarter. Karpas Strategies LLC raised its holdings in shares of JPMorgan Chase & Co. by 0.4% during the 3rd quarter. Karpas Strategies LLC now owns 21,537 shares of the financial services provider’s stock valued at $2,251,000 after purchasing an additional 80 shares in the last quarter. Wulff Hansen & CO. raised its holdings in shares of 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 valued at $1,532,000 after purchasing an additional 80 shares in the last quarter. Finally, Commons Capital LLC raised its holdings in JPMorgan Chase & Co. by 0.8% in the 3rd quarter. Commons Capital LLC now owns 10,465 shares of the financial services provider’s stock worth $1,094,000 after acquiring an additional 82 shares during the period. 67.89% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. Royal Bank of Canada set a $130.00 target price on shares of JPMorgan Chase & Co. in a report on Friday, January 13th. Morgan Stanley raised their price target on shares of JPMorgan Chase & Co. from $167.00 to $173.00 and gave the stock an “overweight” rating in a research report on Friday, February 24th. Oppenheimer raised their price target on shares of JPMorgan Chase & Co. from $177.00 to $186.00 and gave the stock an “outperform” rating in a research report on Thursday, February 2nd. Deutsche Bank Aktiengesellschaft lowered shares of JPMorgan Chase & Co. from a “buy” rating to a “hold” rating and decreased their price target for the stock from $155.00 to $145.00 in a research report on Friday, January 6th. Finally, Credit Suisse Group set a $155.00 target price on shares of JPMorgan Chase & Co. in a research report on Monday, February 27th. Six equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $150.78.

JPMorgan Chase & Co. Stock Performance

Shares of JPMorgan Chase & Co. stock opened at $125.81 on Friday. The firm has a market cap of $370.30 billion, a price-to-earnings ratio of 10.41, a price-to-earnings-growth ratio of 2.09 and a beta of 1.12. The stock’s 50-day moving average is $139.06 and its 200-day moving average is $129.21. JPMorgan Chase & Co. has a one year low of $101.28 and a one year high of $144.34. The company has a debt-to-equity ratio of 1.12, a current ratio of 0.84 and a quick ratio of 0.84.

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 (EPS) for the quarter, beating analysts’ consensus estimates 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%. JPMorgan Chase & Co.’s quarterly revenue was up 18.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.33 earnings per share. Equities analysts predict that JPMorgan Chase & Co. will post 12.9 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other JPMorgan Chase & Co. news, General Counsel Stacey Friedman sold 23,148 shares of the business’s 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 transaction, the general counsel now owns 48,311 shares of the company’s stock, valued at $6,778,516.41. The sale was disclosed in a document filed with the SEC, which is available through this link. In other JPMorgan Chase & Co. news, Vice Chairman Peter Scher sold 4,399 shares of JPMorgan Chase & Co. stock in a transaction dated Tuesday, January 17th. The stock was sold at an average price of $140.32, for a total value of $617,267.68. Following the transaction, the insider now owns 36,369 shares in the company, valued at $5,103,298.08. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, General Counsel Stacey Friedman sold 23,148 shares of JPMorgan Chase & Co. stock in a transaction dated 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 transaction, the general counsel now owns 48,311 shares in the company, valued at approximately $6,778,516.41. The disclosure for this sale can be found here. Insiders have sold a total of 37,887 shares of company stock valued at $5,315,762 over the last 90 days. 0.79% of the stock is currently owned by insiders.

About JPMorgan Chase & Co.

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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.