Sheets Smith Wealth Management Has $5.45 Million Position in JPMorgan Chase & Co. (NYSE:JPM)

Sheets Smith Wealth Management lowered its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 0.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 22,747 shares of the financial services provider’s stock after selling 104 shares during the quarter. Sheets Smith Wealth Management’s holdings in JPMorgan Chase & Co. were worth $5,453,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the business. JPMorgan Chase & Co. raised its position in JPMorgan Chase & Co. by 7.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 4,450,775 shares of the financial services provider’s stock valued at $938,491,000 after buying an additional 319,730 shares during the last quarter. Sageworth Trust Co raised its position in JPMorgan Chase & Co. by 37.9% in the 3rd quarter. Sageworth Trust Co now owns 2,860 shares of the financial services provider’s stock valued at $603,000 after buying an additional 786 shares during the last quarter. Kingsview Wealth Management LLC raised its position in JPMorgan Chase & Co. by 2.5% in the 3rd quarter. Kingsview Wealth Management LLC now owns 118,095 shares of the financial services provider’s stock valued at $24,902,000 after buying an additional 2,839 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in JPMorgan Chase & Co. by 16.0% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 692,809 shares of the financial services provider’s stock valued at $143,594,000 after buying an additional 95,461 shares during the last quarter. Finally, Zions Bancorporation N.A. raised its position in JPMorgan Chase & Co. by 2.5% in the 3rd quarter. Zions Bancorporation N.A. now owns 11,157 shares of the financial services provider’s stock valued at $2,353,000 after buying an additional 267 shares during the last quarter. Institutional investors and hedge funds own 71.55% of the company’s stock.

Insiders Place Their Bets

In other news, General Counsel Stacey Friedman sold 3,303 shares of the stock in a transaction dated 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 sale, the general counsel now owns 47,620 shares of the company’s stock, valued at approximately $12,092,622.80. This represents a 6.49 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.79% of the company’s stock.

JPMorgan Chase & Co. Price Performance

JPMorgan Chase & Co. stock opened at $264.66 on Friday. JPMorgan Chase & Co. has a 52 week low of $170.90 and a 52 week high of $267.10. The stock has a fifty day moving average of $245.67 and a 200-day moving average of $226.25. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.89 and a current ratio of 0.88. The stock has a market capitalization of $745.09 billion, a P/E ratio of 13.41, a price-to-earnings-growth ratio of 2.83 and a beta of 1.11.

JPMorgan Chase & Co. (NYSE:JPM) last issued its earnings results on Wednesday, January 15th. The financial services provider reported $4.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.03 by $0.78. JPMorgan Chase & Co. had a return on equity of 16.99% and a net margin of 20.96%. The business had revenue of $42.77 billion during the quarter, compared to analysts’ expectations of $41.90 billion. During the same quarter in the prior year, the firm earned $3.04 EPS. The business’s revenue for the quarter was up 10.9% compared to the same quarter last year. On average, sell-side analysts expect that JPMorgan Chase & Co. will post 17.82 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Monday, January 6th will be issued a $1.25 dividend. The ex-dividend date is Monday, January 6th. This represents a $5.00 dividend on an annualized basis and a yield of 1.89%. JPMorgan Chase & Co.’s payout ratio is presently 25.33%.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on JPM shares. UBS Group boosted their price target on JPMorgan Chase & Co. from $276.00 to $287.00 and gave the stock a “buy” rating in a research report on Thursday, January 16th. Baird R W lowered JPMorgan Chase & Co. from a “hold” rating to a “strong sell” rating in a research report on Thursday, November 7th. Morgan Stanley lowered JPMorgan Chase & Co. from an “overweight” rating to an “equal weight” rating and boosted their price target for the stock from $220.00 to $224.00 in a research report on Monday, September 30th. Bank of America boosted their price target on JPMorgan Chase & Co. from $260.00 to $280.00 and gave the stock a “buy” rating in a research report on Tuesday, January 7th. Finally, Barclays lifted their target price on JPMorgan Chase & Co. from $304.00 to $330.00 and gave the stock an “overweight” rating in a research note on Thursday, January 16th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, JPMorgan Chase & Co. presently has an average rating of “Hold” and an average price target of $251.78.

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.