Echo Wealth Management LLC Has $408,000 Stock Position in JPMorgan Chase & Co. (NYSE:JPM)

Echo Wealth Management LLC cut its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 9.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,700 shares of the financial services provider’s stock after selling 171 shares during the period. Echo Wealth Management LLC’s holdings in JPMorgan Chase & Co. were worth $408,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the business. Mizuho Securities Co. Ltd. acquired a new stake in JPMorgan Chase & Co. in the third quarter worth $25,000. Catalyst Capital Advisors LLC bought a new position in JPMorgan Chase & Co. during the third quarter worth about $27,000. West Financial Advisors LLC acquired a new position in JPMorgan Chase & Co. in the third quarter valued at about $37,000. New England Capital Financial Advisors LLC increased its holdings in shares of JPMorgan Chase & Co. by 38.5% in the third quarter. New England Capital Financial Advisors LLC now owns 180 shares of the financial services provider’s stock worth $38,000 after acquiring an additional 50 shares in the last quarter. Finally, Carolina Wealth Advisors LLC raised its position in shares of JPMorgan Chase & Co. by 36.0% during the third quarter. Carolina Wealth Advisors LLC now owns 189 shares of the financial services provider’s stock worth $40,000 after purchasing an additional 50 shares during the period. Institutional investors own 71.55% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on JPM. Keefe, Bruyette & Woods increased their target price on JPMorgan Chase & Co. from $257.00 to $264.00 and gave the stock a “market perform” rating in a research note on Thursday, January 16th. Baird R W lowered shares of JPMorgan Chase & Co. from a “hold” rating to a “strong sell” rating in a report on Thursday, November 7th. Citigroup upped their target price on shares of JPMorgan Chase & Co. from $215.00 to $250.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 19th. Robert W. Baird lowered JPMorgan Chase & Co. from a “neutral” rating to an “underperform” rating and set a $200.00 price target on the stock. in a report on Thursday, November 7th. Finally, Daiwa Capital Markets reduced their price objective on JPMorgan Chase & Co. from $240.00 to $235.00 and set an “overweight” rating for the company in a research report on Thursday, October 10th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $251.78.

JPMorgan Chase & Co. Trading Up 0.6 %

Shares of JPMorgan Chase & Co. stock opened at $268.23 on Friday. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.88 and a quick ratio of 0.89. The business has a fifty day simple moving average of $247.08 and a two-hundred day simple moving average of $227.63. JPMorgan Chase & Co. has a 1 year low of $171.43 and a 1 year high of $270.68. The company has a market capitalization of $755.17 billion, a price-to-earnings ratio of 13.59, a P/E/G ratio of 2.83 and a beta of 1.11.

JPMorgan Chase & Co. (NYSE:JPM) last announced its earnings results on Wednesday, January 15th. The financial services provider reported $4.81 EPS for the quarter, topping the consensus estimate of $4.03 by $0.78. The business had revenue of $42.77 billion during the quarter, compared to the consensus estimate of $41.90 billion. JPMorgan Chase & Co. had a net margin of 20.96% and a return on equity of 16.99%. JPMorgan Chase & Co.’s revenue was up 10.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $3.04 EPS. Research analysts forecast that JPMorgan Chase & Co. will post 17.82 EPS for the current year.

JPMorgan Chase & Co. Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Monday, January 6th will be issued a dividend of $1.25 per share. The ex-dividend date is Monday, January 6th. This represents a $5.00 annualized dividend and a dividend yield of 1.86%. JPMorgan Chase & Co.’s dividend payout ratio is presently 25.33%.

Insider Activity

In other JPMorgan Chase & Co. news, General Counsel Stacey Friedman sold 3,303 shares of JPMorgan Chase & Co. stock in a transaction on Thursday, January 16th. The stock was sold at an average price of $253.94, for a total value of $838,763.82. Following the completion of the transaction, the general counsel now directly owns 47,620 shares of the company’s stock, valued at $12,092,622.80. The trade was a 6.49 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.79% of the stock is owned by company insiders.

About JPMorgan Chase & Co.

JPMorgan Chase & Co is a financial holding company, which engages in the provision of 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.