Thrive Wealth Management LLC Lowers Holdings in JPMorgan Chase & Co. (NYSE:JPM)

Thrive Wealth Management LLC reduced its position in shares of JPMorgan Chase & Co. (NYSE:JPM) by 0.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,584 shares of the financial services provider’s stock after selling 57 shares during the period. Thrive Wealth Management LLC’s holdings in JPMorgan Chase & Co. were worth $1,818,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Geode Capital Management LLC grew its stake in JPMorgan Chase & Co. by 0.9% in the 3rd quarter. Geode Capital Management LLC now owns 58,344,186 shares of the financial services provider’s stock worth $12,258,346,000 after buying an additional 505,830 shares in the last quarter. Fisher Asset Management LLC grew its position in JPMorgan Chase & Co. by 31.7% in the third quarter. Fisher Asset Management LLC now owns 16,784,272 shares of the financial services provider’s stock worth $3,539,132,000 after acquiring an additional 4,043,841 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in JPMorgan Chase & Co. by 2.0% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 15,084,919 shares of the financial services provider’s stock valued at $3,180,806,000 after acquiring an additional 302,592 shares during the last quarter. Franklin Resources Inc. raised its position in JPMorgan Chase & Co. by 7.2% during the third quarter. Franklin Resources Inc. now owns 15,073,193 shares of the financial services provider’s stock valued at $3,338,955,000 after purchasing an additional 1,016,289 shares in the last quarter. Finally, International Assets Investment Management LLC bought a new stake in JPMorgan Chase & Co. during the third quarter worth about $1,888,088,000. 71.55% of the stock is currently owned by hedge funds and other institutional investors.

JPMorgan Chase & Co. Stock Performance

Shares of JPM stock opened at $263.02 on Thursday. The firm has a market capitalization of $740.48 billion, a price-to-earnings ratio of 13.32, a PEG ratio of 2.81 and a beta of 1.11. The stock has a fifty day moving average of $244.37 and a 200 day moving average of $225.29. JPMorgan Chase & Co. has a 52 week low of $168.44 and a 52 week high of $264.25. The company has a quick ratio of 0.89, a current ratio of 0.88 and a debt-to-equity ratio of 1.24.

JPMorgan Chase & Co. (NYSE:JPM) last posted 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. JPMorgan Chase & Co. had a net margin of 20.96% and a return on equity of 16.99%. The firm had revenue of $42.77 billion during the quarter, compared to analysts’ expectations of $41.90 billion. During the same period last year, the company posted $3.04 EPS. The company’s quarterly revenue was up 10.9% compared to the same quarter last year. As a group, research analysts expect that JPMorgan Chase & Co. will post 17.65 earnings per share for the current year.

JPMorgan Chase & Co. Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Monday, January 6th will be given a dividend of $1.25 per share. The ex-dividend date is Monday, January 6th. This represents a $5.00 annualized dividend and a yield of 1.90%. JPMorgan Chase & Co.’s payout ratio is 25.33%.

Analysts Set New Price Targets

JPM has been the topic of several recent research reports. Bank of America increased their price objective on JPMorgan Chase & Co. from $260.00 to $280.00 and gave the company a “buy” rating in a research report on Tuesday, January 7th. Wolfe Research raised shares of JPMorgan Chase & Co. from a “peer perform” rating to an “outperform” rating and set a $269.00 price target on the stock in a research note on Friday, January 3rd. Evercore ISI boosted their price objective on shares of JPMorgan Chase & Co. from $217.00 to $230.00 and gave the stock an “outperform” rating in a report on Monday, October 14th. Citigroup increased their target price on shares of JPMorgan Chase & Co. from $215.00 to $250.00 and gave the company a “neutral” rating in a report on Tuesday, November 19th. Finally, Royal Bank of Canada boosted their price target on shares of JPMorgan Chase & Co. from $211.00 to $230.00 and gave the stock an “outperform” rating in a research note on Monday, October 14th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $251.78.

Insiders Place Their Bets

In other news, General Counsel Stacey Friedman sold 3,303 shares of the firm’s stock in a transaction that occurred 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 owns 47,620 shares in the company, valued at $12,092,622.80. This trade represents a 6.49 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.79% of the company’s stock.

JPMorgan Chase & Co. 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.