Gradient Investments LLC Sells 699 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Gradient Investments LLC lessened its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 0.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 173,293 shares of the financial services provider’s stock after selling 699 shares during the quarter. Gradient Investments LLC’s holdings in JPMorgan Chase & Co. were worth $41,540,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the business. Harel Insurance Investments & Financial Services Ltd. increased its holdings in JPMorgan Chase & Co. by 16.0% in the fourth quarter. Harel Insurance Investments & Financial Services Ltd. now owns 11,577 shares of the financial services provider’s stock valued at $2,775,000 after purchasing an additional 1,595 shares during the last quarter. Midwest Financial Group LLC bought a new stake in shares of JPMorgan Chase & Co. in the 4th quarter valued at about $220,000. CX Institutional raised its position in shares of JPMorgan Chase & Co. by 14.2% in the 4th quarter. CX Institutional now owns 23,537 shares of the financial services provider’s stock valued at $5,642,000 after acquiring an additional 2,925 shares during the period. Rodgers & Associates LTD bought a new position in JPMorgan Chase & Co. during the 4th quarter worth approximately $203,000. Finally, Encompass More Asset Management grew its holdings in JPMorgan Chase & Co. by 5.7% during the fourth quarter. Encompass More Asset Management now owns 3,149 shares of the financial services provider’s stock valued at $755,000 after purchasing an additional 170 shares during the period. Institutional investors and hedge funds own 71.55% of the company’s stock.

JPMorgan Chase & Co. Stock Down 0.2 %

Shares of JPM stock opened at $266.74 on Thursday. JPMorgan Chase & Co. has a 52-week low of $171.43 and a 52-week high of $270.68. The stock has a market cap of $750.96 billion, a price-to-earnings ratio of 13.51, a PEG ratio of 2.83 and a beta of 1.11. The firm’s 50-day moving average is $246.56 and its 200-day moving average is $227.36. 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. (NYSE:JPM) last posted 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. 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 for the quarter, compared to analyst estimates of $41.90 billion. During the same period in the previous year, the firm earned $3.04 EPS. The firm’s revenue was up 10.9% compared to the same quarter last year. Sell-side analysts predict that JPMorgan Chase & Co. will post 17.82 EPS for the current year.

JPMorgan Chase & Co. Dividend Announcement

The business 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 1.87%. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is presently 25.33%.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on JPM shares. Bank of America increased their target price on shares of JPMorgan Chase & Co. from $260.00 to $280.00 and gave the stock a “buy” rating in a report on Tuesday, January 7th. Barclays lifted their target price on JPMorgan Chase & Co. from $304.00 to $330.00 and gave the stock an “overweight” rating in a report on Thursday, January 16th. Wolfe Research upgraded JPMorgan Chase & Co. from a “peer perform” rating to an “outperform” rating and set a $269.00 price target for the company in a report on Friday, January 3rd. Wells Fargo & Company lifted their price objective on JPMorgan Chase & Co. from $240.00 to $270.00 and gave the company an “overweight” rating in a report on Friday, November 15th. Finally, Evercore ISI increased their target price on JPMorgan Chase & Co. from $217.00 to $230.00 and gave the stock an “outperform” rating in a research note on Monday, October 14th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $251.78.

Insider Transactions at JPMorgan Chase & Co.

In related news, General Counsel Stacey Friedman sold 3,303 shares of the firm’s stock in a transaction dated Thursday, January 16th. The shares were sold at an average price of $253.94, for a total transaction of $838,763.82. Following the transaction, 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.79% of the company’s stock.

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.