Chemung Canal Trust Co. Has $12.12 Million Position in JPMorgan Chase & Co. (NYSE:JPM)

Chemung Canal Trust Co. lowered its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 8.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 50,566 shares of the financial services provider’s stock after selling 4,857 shares during the period. JPMorgan Chase & Co. makes up 2.5% of Chemung Canal Trust Co.’s portfolio, making the stock its 9th biggest position. Chemung Canal Trust Co.’s holdings in JPMorgan Chase & Co. were worth $12,121,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of the stock. Quarry LP grew its position in shares of JPMorgan Chase & Co. by 1,062.1% in the 2nd quarter. Quarry LP now owns 337 shares of the financial services provider’s stock valued at $68,000 after purchasing an additional 308 shares during the period. New Wave Wealth Advisors LLC acquired a new position in shares of JPMorgan Chase & Co. in the second quarter valued at approximately $214,000. RiverFront Investment Group LLC increased its position in shares of JPMorgan Chase & Co. by 104.3% during the second quarter. RiverFront Investment Group LLC now owns 124,513 shares of the financial services provider’s stock worth $25,184,000 after acquiring an additional 63,571 shares in the last quarter. Farmers National Bank raised its holdings in shares of JPMorgan Chase & Co. by 0.9% during the second quarter. Farmers National Bank now owns 70,410 shares of the financial services provider’s stock worth $14,241,000 after acquiring an additional 649 shares during the period. Finally, Strategic Investment Solutions Inc. IL bought a new stake in JPMorgan Chase & Co. in the 2nd quarter valued at $399,000. 71.55% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Royal Bank of Canada lifted their price target 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. Barclays boosted their target price on JPMorgan Chase & Co. from $304.00 to $330.00 and gave the company an “overweight” rating in a research note on Thursday, January 16th. Oppenheimer cut shares of JPMorgan Chase & Co. from an “outperform” rating to a “market perform” rating in a research note on Wednesday, November 20th. Wells Fargo & Company boosted their price objective on shares of JPMorgan Chase & Co. from $240.00 to $270.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. Finally, Bank of America raised their target price on shares of JPMorgan Chase & Co. from $260.00 to $280.00 and gave the company a “buy” rating in a research report on Tuesday, January 7th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $251.78.

JPMorgan Chase & Co. Stock Down 0.2 %

Shares of JPM opened at $266.74 on Thursday. The firm has a market cap of $750.96 billion, a P/E ratio of 13.51, a price-to-earnings-growth ratio of 2.83 and a beta of 1.11. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.89 and a current ratio of 0.88. JPMorgan Chase & Co. has a 52 week low of $171.43 and a 52 week high of $270.68. The firm’s 50-day simple moving average is $246.56 and its 200 day simple moving average is $227.36.

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

JPMorgan Chase & Co. Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Monday, January 6th will be paid a $1.25 dividend. This represents a $5.00 annualized dividend and a yield of 1.87%. The ex-dividend date is Monday, January 6th. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is 25.33%.

Insiders Place Their Bets

In other news, General Counsel Stacey Friedman sold 3,303 shares of JPMorgan Chase & Co. stock in a transaction that occurred on Thursday, January 16th. The shares were 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 directly owns 47,620 shares in the company, valued at approximately $12,092,622.80. The trade was a 6.49 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.79% of the company’s stock.

JPMorgan Chase & Co. Company 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.