Carmel Capital Management L.L.C. decreased its position in shares of JPMorgan Chase & Co. (NYSE:JPM) by 0.3% in the fourth quarter, Holdings Channel reports. The fund owned 61,447 shares of the financial services provider’s stock after selling 210 shares during the period. JPMorgan Chase & Co. accounts for 5.6% of Carmel Capital Management L.L.C.’s investment portfolio, making the stock its 3rd biggest holding. Carmel Capital Management L.L.C.’s holdings in JPMorgan Chase & Co. were worth $14,729,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds also recently bought and sold shares of the company. Mizuho Securities Co. Ltd. acquired a new stake in JPMorgan Chase & Co. in the 3rd quarter worth $25,000. Catalyst Capital Advisors LLC acquired a new position in JPMorgan Chase & Co. in the third quarter worth about $27,000. West Financial Advisors LLC bought a new position in JPMorgan Chase & Co. during the third quarter worth about $37,000. New England Capital Financial Advisors LLC boosted its holdings in JPMorgan Chase & Co. by 38.5% during the third quarter. New England Capital Financial Advisors LLC now owns 180 shares of the financial services provider’s stock valued at $38,000 after purchasing an additional 50 shares in the last quarter. Finally, Carolina Wealth Advisors LLC grew its stake in shares of JPMorgan Chase & Co. by 36.0% in the 3rd quarter. Carolina Wealth Advisors LLC now owns 189 shares of the financial services provider’s stock valued at $40,000 after purchasing an additional 50 shares during the period. 71.55% of the stock is currently owned by institutional investors.
Insider Buying and Selling
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 completion of the sale, the general counsel now directly owns 47,620 shares of the company’s stock, valued at approximately $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 accessible through the SEC website. 0.79% of the stock is owned by insiders.
JPMorgan Chase & Co. Stock Up 0.4 %
JPMorgan Chase & Co. (NYSE:JPM – Get Free Report) last posted its quarterly earnings results on Wednesday, January 15th. The financial services provider reported $4.81 earnings per share for the quarter, topping the consensus estimate 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 firm had revenue of $42.77 billion for the quarter, compared to analyst estimates of $41.90 billion. During the same quarter in the previous year, the firm earned $3.04 EPS. The business’s quarterly revenue was up 10.9% on a year-over-year basis. On average, equities analysts predict that JPMorgan Chase & Co. will post 17.82 EPS for the current fiscal year.
JPMorgan Chase & Co. Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Monday, January 6th will be paid a $1.25 dividend. The ex-dividend date is Monday, January 6th. This represents a $5.00 annualized dividend and a yield of 1.87%. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is currently 25.33%.
Analyst Upgrades and Downgrades
JPM has been the topic of several recent analyst reports. Daiwa Capital Markets decreased their price target on JPMorgan Chase & Co. from $240.00 to $235.00 and set an “overweight” rating on the stock in a research note on Thursday, October 10th. 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 raised their price target on JPMorgan Chase & Co. from $215.00 to $250.00 and gave the company a “neutral” rating in a report on Tuesday, November 19th. Royal Bank of Canada raised their target price on JPMorgan Chase & Co. from $211.00 to $230.00 and gave the company an “outperform” rating in a research note on Monday, October 14th. Finally, Wells Fargo & Company boosted their target price on shares of JPMorgan Chase & Co. from $240.00 to $270.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. Two 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. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $251.78.
View Our Latest Research Report on JPMorgan Chase & Co.
JPMorgan Chase & Co. Profile
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.
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