JPMorgan Chase & Co. (NYSE:JPM) Stake Cut by Essex Financial Services Inc.

Essex Financial Services Inc. decreased its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 4.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 59,463 shares of the financial services provider’s stock after selling 3,081 shares during the period. JPMorgan Chase & Co. comprises about 1.0% of Essex Financial Services Inc.’s portfolio, making the stock its 18th largest holding. Essex Financial Services Inc.’s holdings in JPMorgan Chase & Co. were worth $10,115,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Mine & Arao Wealth Creation & Management LLC. raised its position in shares of JPMorgan Chase & Co. by 0.7% during the 4th quarter. Mine & Arao Wealth Creation & Management LLC. now owns 20,255 shares of the financial services provider’s stock worth $3,445,000 after purchasing an additional 144 shares during the period. Victory Capital Management Inc. grew its stake in JPMorgan Chase & Co. by 9.5% during the 4th quarter. Victory Capital Management Inc. now owns 3,003,422 shares of the financial services provider’s stock worth $510,882,000 after buying an additional 260,916 shares during the last quarter. Berry Wealth Group LP bought a new position in JPMorgan Chase & Co. during the 4th quarter worth $5,091,000. Cannell & Co. increased its position in JPMorgan Chase & Co. by 1.9% in the fourth quarter. Cannell & Co. now owns 83,796 shares of the financial services provider’s stock worth $14,254,000 after buying an additional 1,563 shares during the period. Finally, Owen LaRue LLC lifted its stake in JPMorgan Chase & Co. by 8.6% in the fourth quarter. Owen LaRue LLC now owns 27,357 shares of the financial services provider’s stock valued at $4,653,000 after buying an additional 2,168 shares during the last quarter. 71.55% of the stock is owned by institutional investors and hedge funds.

JPMorgan Chase & Co. Trading Down 0.1 %

JPMorgan Chase & Co. stock opened at $191.80 on Wednesday. The firm has a market cap of $550.79 billion, a price-to-earnings ratio of 11.58, a price-to-earnings-growth ratio of 2.38 and a beta of 1.13. JPMorgan Chase & Co. has a 1 year low of $133.13 and a 1 year high of $200.94. The firm’s 50 day moving average price is $191.74 and its two-hundred day moving average price is $173.16. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.92 and a current ratio of 0.92.

JPMorgan Chase & Co. (NYSE:JPM) last issued its earnings results on Friday, April 12th. The financial services provider reported $4.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.18 by $0.45. The business had revenue of $41.93 billion for the quarter, compared to analysts’ expectations of $40.90 billion. JPMorgan Chase & Co. had a return on equity of 17.79% and a net margin of 20.05%. On average, research analysts predict that JPMorgan Chase & Co. will post 15.98 EPS for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 30th. Shareholders of record on Friday, April 5th were issued a dividend of $1.15 per share. This represents a $4.60 annualized dividend and a yield of 2.40%. The ex-dividend date was Thursday, April 4th. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.05. JPMorgan Chase & Co.’s payout ratio is presently 27.78%.

Wall Street Analysts Forecast Growth

JPM has been the topic of a number of analyst reports. Morgan Stanley dropped their price objective on shares of JPMorgan Chase & Co. from $221.00 to $216.00 and set an “overweight” rating on the stock in a report on Monday, April 15th. Keefe, Bruyette & Woods lifted their price target on JPMorgan Chase & Co. from $182.00 to $195.00 and gave the company a “market perform” rating in a report on Friday, April 5th. Royal Bank of Canada reiterated an “outperform” rating and set a $185.00 price objective on shares of JPMorgan Chase & Co. in a research report on Wednesday, March 20th. The Goldman Sachs Group restated a “buy” rating on shares of JPMorgan Chase & Co. in a research report on Thursday, February 1st. Finally, Evercore ISI lifted their target price on JPMorgan Chase & Co. from $188.00 to $210.00 and gave the company an “outperform” rating in a research note on Thursday, April 4th. Eight equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, JPMorgan Chase & Co. has a consensus rating of “Moderate Buy” and a consensus price target of $192.05.

Insider Buying and Selling at JPMorgan Chase & Co.

In other news, CEO James Dimon sold 821,778 shares of JPMorgan Chase & Co. stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $182.73, for a total value of $150,163,493.94. Following the transaction, the chief executive officer now directly owns 595,316 shares of the company’s stock, valued at $108,782,092.68. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, CEO James Dimon sold 821,778 shares of the stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $182.73, for a total value of $150,163,493.94. Following the completion of the sale, the chief executive officer now owns 595,316 shares in the company, valued at $108,782,092.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Lori A. Beer sold 3,920 shares of the firm’s stock in a transaction on Monday, March 25th. The stock was sold at an average price of $195.36, for a total value of $765,811.20. Following the completion of the sale, the insider now directly owns 64,783 shares of the company’s stock, valued at approximately $12,656,006.88. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,042,525 shares of company stock valued at $190,961,526. 0.79% of the stock is currently owned by corporate insiders.

JPMorgan Chase & Co. Company Profile

JPMorgan Chase & Co operates as a financial services company worldwide. It operates through four segments: Consumer & Community Banking (CCB), Corporate & Investment Bank (CIB), Commercial Banking (CB), and Asset & Wealth Management (AWM). The CCB segment offers deposit, investment and lending products, cash management, and payments and services; mortgage origination and servicing activities; residential mortgages and home equity loans; and credit cards, auto loans, leases, and travel services to consumers and small businesses through bank branches, ATMs, and digital and telephone banking.