Armbruster Capital Management Inc. Has $1.82 Million Stake in JPMorgan Chase & Co. (NYSE:JPM)

Armbruster Capital Management Inc. reduced its stake in JPMorgan Chase & Co. (NYSE:JPM) by 13.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,611 shares of the financial services provider’s stock after selling 1,197 shares during the period. Armbruster Capital Management Inc.’s holdings in JPMorgan Chase & Co. were worth $1,824,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in JPM. Mizuho Securities Co. Ltd. acquired a new stake in shares of JPMorgan Chase & Co. during the third quarter valued at about $25,000. Catalyst Capital Advisors LLC acquired a new stake in JPMorgan Chase & Co. during the 3rd quarter worth approximately $27,000. West Financial Advisors LLC bought a new stake in JPMorgan Chase & Co. during the 3rd quarter worth approximately $37,000. New England Capital Financial Advisors LLC increased its position in JPMorgan Chase & Co. by 38.5% in the 3rd quarter. New England Capital Financial Advisors LLC now owns 180 shares of the financial services provider’s stock valued at $38,000 after acquiring an additional 50 shares during the period. Finally, Carolina Wealth Advisors LLC raised its stake 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 valued at $40,000 after acquiring an additional 50 shares during the last quarter. 71.55% of the stock is owned by institutional investors.

JPMorgan Chase & Co. Price Performance

Shares of JPM opened at $267.14 on Friday. The business’s fifty day moving average is $247.54 and its 200 day moving average is $227.91. JPMorgan Chase & Co. has a 12-month low of $171.43 and a 12-month high of $270.82. The company has a quick ratio of 0.89, a current ratio of 0.88 and a debt-to-equity ratio of 1.24. The stock has a market cap of $752.09 billion, a P/E ratio of 13.53, a P/E/G ratio of 2.87 and a beta of 1.11.

JPMorgan Chase & Co. (NYSE:JPM) last released its quarterly earnings data on Wednesday, January 15th. The financial services provider reported $4.81 earnings per share for the quarter, beating analysts’ consensus estimates of $4.03 by $0.78. The firm had revenue of $42.77 billion for the quarter, compared to analyst estimates of $41.90 billion. JPMorgan Chase & Co. had a net margin of 20.96% and a return on equity of 16.99%. The business’s quarterly revenue was up 10.9% compared to the same quarter last year. During the same period last year, the firm earned $3.04 earnings per share. Sell-side analysts anticipate that JPMorgan Chase & Co. will post 17.82 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Monday, January 6th were issued a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a yield of 1.87%. The ex-dividend date of this dividend was Monday, January 6th. JPMorgan Chase & Co.’s dividend payout ratio is currently 25.33%.

Insider Transactions at JPMorgan Chase & Co.

In related news, General Counsel Stacey Friedman sold 3,303 shares of JPMorgan Chase & Co. stock in a transaction that occurred on Thursday, January 16th. The stock was sold at an average price of $253.94, for a total transaction of $838,763.82. Following the transaction, the general counsel now owns 47,620 shares of the company’s stock, valued at $12,092,622.80. The trade was a 6.49 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.79% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently weighed in on the company. Baird R W downgraded JPMorgan Chase & Co. from a “hold” rating to a “strong sell” rating in a report on Thursday, November 7th. Citigroup lifted their price objective on JPMorgan Chase & Co. from $215.00 to $250.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 19th. Daiwa Capital Markets decreased their target price on shares of 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. Barclays boosted their price target on shares of JPMorgan Chase & Co. from $304.00 to $330.00 and gave the stock an “overweight” rating in a research report on Thursday, January 16th. Finally, Oppenheimer downgraded shares of JPMorgan Chase & Co. from an “outperform” rating to a “market perform” rating in a research note on Wednesday, November 20th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $251.78.

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.