JPMorgan Chase & Co. (NYSE:JPM) Stock Holdings Cut by Novare Capital Management LLC

Novare Capital Management LLC lessened its position in JPMorgan Chase & Co. (NYSE:JPM) by 2.0% during the fourth quarter, Holdings Channel reports. The institutional investor owned 81,434 shares of the financial services provider’s stock after selling 1,690 shares during the quarter. JPMorgan Chase & Co. makes up approximately 1.6% of Novare Capital Management LLC’s investment portfolio, making the stock its 16th largest position. Novare Capital Management LLC’s holdings in JPMorgan Chase & Co. were worth $19,520,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Geode Capital Management LLC lifted its holdings 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 valued at $12,258,346,000 after acquiring an additional 505,830 shares during the last quarter. Fisher Asset Management LLC lifted its stake in JPMorgan Chase & Co. by 31.7% during the third quarter. Fisher Asset Management LLC now owns 16,784,272 shares of the financial services provider’s stock valued at $3,539,132,000 after purchasing an additional 4,043,841 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position 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 worth $3,180,806,000 after buying an additional 302,592 shares during the last quarter. Franklin Resources Inc. increased its holdings in shares of JPMorgan Chase & Co. by 7.2% in 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 buying an additional 1,016,289 shares in the last quarter. Finally, International Assets Investment Management LLC acquired a new stake in shares of JPMorgan Chase & Co. during the 3rd quarter valued at $1,888,088,000. Institutional investors and hedge funds own 71.55% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on JPM shares. Royal Bank of Canada boosted their target price on JPMorgan Chase & Co. from $211.00 to $230.00 and gave the stock an “outperform” rating in a research report on Monday, October 14th. Daiwa Capital Markets cut their price objective on JPMorgan Chase & Co. from $240.00 to $235.00 and set an “overweight” rating on the stock in a report on Thursday, October 10th. Oppenheimer cut shares of JPMorgan Chase & Co. from an “outperform” rating to a “market perform” rating in a report on Wednesday, November 20th. Keefe, Bruyette & Woods boosted their price target on shares of JPMorgan Chase & Co. from $257.00 to $264.00 and gave the company a “market perform” rating in a report on Thursday, January 16th. Finally, Citigroup raised their price objective on shares of JPMorgan Chase & Co. from $215.00 to $250.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 19th. Two investment 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. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $251.78.

JPMorgan Chase & Co. Stock Performance

JPM stock opened at $267.14 on Friday. The firm has a 50 day moving average of $247.54 and a two-hundred day moving average of $227.91. JPMorgan Chase & Co. has a 12 month low of $171.43 and a 12 month high of $270.82. The company has a market capitalization of $752.09 billion, a price-to-earnings ratio of 13.53, a P/E/G ratio of 2.87 and a beta of 1.11. 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 for the quarter, compared to the consensus estimate of $41.90 billion. During the same period in the prior year, the business posted $3.04 earnings per share. The business’s quarterly revenue was up 10.9% on a year-over-year basis. As a group, equities analysts anticipate that JPMorgan Chase & Co. will post 17.82 EPS for the current fiscal year.

JPMorgan Chase & Co. Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Monday, January 6th were paid a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a dividend yield of 1.87%. The ex-dividend date was Monday, January 6th. JPMorgan Chase & Co.’s payout ratio is 25.33%.

Insider Buying and Selling

In other news, General Counsel Stacey Friedman sold 3,303 shares of the business’s stock in a transaction 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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.