Steel Grove Capital Advisors LLC Has $6.43 Million Holdings in JPMorgan Chase & Co. (NYSE:JPM)

Steel Grove Capital Advisors LLC lessened its stake in JPMorgan Chase & Co. (NYSE:JPM) by 2.8% in the 4th quarter, Holdings Channel reports. The institutional investor owned 26,832 shares of the financial services provider’s stock after selling 759 shares during the period. JPMorgan Chase & Co. comprises about 0.9% of Steel Grove Capital Advisors LLC’s holdings, making the stock its 11th biggest position. Steel Grove Capital Advisors LLC’s holdings in JPMorgan Chase & Co. were worth $6,432,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the company. Redwood Park Advisors LLC acquired a new position in JPMorgan Chase & Co. in the fourth quarter worth $29,000. Sellwood Investment Partners LLC bought a new stake in shares of JPMorgan Chase & Co. during the fourth quarter worth $34,000. Investment Counsel Co. of Nevada bought a new position in shares of JPMorgan Chase & Co. in the 4th quarter valued at about $37,000. Midwest Capital Advisors LLC bought a new stake in shares of JPMorgan Chase & Co. during the fourth quarter worth approximately $43,000. Finally, Prudent Man Investment Management Inc. bought a new position in JPMorgan Chase & Co. in the fourth quarter valued at approximately $43,000. 71.55% of the stock is owned by institutional investors and hedge funds.

JPMorgan Chase & Co. Price Performance

Shares of NYSE JPM opened at $228.95 on Tuesday. The stock has a market capitalization of $637.17 billion, a PE ratio of 11.60, a P/E/G ratio of 2.83 and a beta of 1.01. The business has a fifty day moving average price of $243.79 and a two-hundred day moving average price of $243.22. JPMorgan Chase & Co. has a fifty-two week low of $185.98 and a fifty-two week high of $280.25. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.88 and a quick ratio of 0.89.

JPMorgan Chase & Co. (NYSE:JPM) last posted its quarterly earnings results on Friday, April 11th. The financial services provider reported $5.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.63 by $0.44. JPMorgan Chase & Co. had a net margin of 20.96% and a return on equity of 16.99%. The business had revenue of $45.30 billion for the quarter, compared to analyst estimates of $43.62 billion. During the same quarter last year, the business posted $4.44 EPS. The firm’s revenue for the quarter was up 8.0% on a year-over-year basis. As a group, equities analysts predict that JPMorgan Chase & Co. will post 18.1 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Friday, April 4th will be paid a $1.40 dividend. The ex-dividend date is Friday, April 4th. This is a positive change from JPMorgan Chase & Co.’s previous quarterly dividend of $1.25. This represents a $5.60 annualized dividend and a yield of 2.45%. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is 27.49%.

Insider Buying and Selling at JPMorgan Chase & Co.

In related news, insider Robin Leopold sold 1,250 shares of the stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $270.09, for a total value of $337,612.50. Following the completion of the transaction, the insider now owns 50,377 shares of the company’s stock, valued at $13,606,323.93. This represents a 2.42 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Troy L. Rohrbaugh sold 25,000 shares of the stock in a transaction on Monday, March 24th. The shares were sold at an average price of $247.02, for a total value of $6,175,500.00. Following the completion of the transaction, the chief executive officer now owns 133,381 shares of the company’s stock, valued at $32,947,774.62. The trade was a 15.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 73,545 shares of company stock worth $19,149,144 over the last 90 days. Insiders own 0.79% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. KGI Securities assumed coverage on shares of JPMorgan Chase & Co. in a research report on Sunday, April 13th. They set a “hold” rating for the company. UBS Group increased their price objective on JPMorgan Chase & Co. from $277.00 to $305.00 and gave the stock a “buy” rating in a report on Thursday, April 17th. Evercore ISI decreased their price target on shares of JPMorgan Chase & Co. from $273.00 to $265.00 and set an “outperform” rating for the company in a research note on Tuesday, April 1st. Bank of America decreased their target price on shares of JPMorgan Chase & Co. from $285.00 to $284.00 and set a “buy” rating for the company in a research report on Wednesday, April 2nd. Finally, Baird R W upgraded JPMorgan Chase & Co. from a “strong sell” rating to a “hold” rating in a report on Friday, March 7th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $255.67.

JPMorgan Chase & Co. Profile

JPMorgan Chase & Co is a financial holding company, which engages in the provision of financial and investment banking services. It focuses on investment banking, financial services for consumers and small businesses, commercial banking, financial transaction processing, and asset management. It operates through the following segments: Consumer and Community Banking (CCB), Commercial and Investment Bank (CIB), Asset and Wealth Management (AWM), and Corporate.