JPMorgan Chase & Co. (NYSE:JPM) Position Trimmed by Hoertkorn Richard Charles

Hoertkorn Richard Charles lowered its stake in JPMorgan Chase & Co. (NYSE:JPM) by 2.4% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 54,857 shares of the financial services provider’s stock after selling 1,325 shares during the period. JPMorgan Chase & Co. makes up 5.4% of Hoertkorn Richard Charles’ investment portfolio, making the stock its 6th largest position. Hoertkorn Richard Charles’ holdings in JPMorgan Chase & Co. were worth $13,150,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Disciplined Investments LLC acquired a new stake in JPMorgan Chase & Co. during the 4th quarter worth about $217,000. LGT Group Foundation raised its stake in shares of JPMorgan Chase & Co. by 2.8% in the fourth quarter. LGT Group Foundation now owns 525,801 shares of the financial services provider’s stock worth $126,040,000 after purchasing an additional 14,300 shares during the last quarter. Kinsale Capital Group Inc. lifted its holdings in shares of JPMorgan Chase & Co. by 11.1% during the fourth quarter. Kinsale Capital Group Inc. now owns 43,732 shares of the financial services provider’s stock worth $10,483,000 after purchasing an additional 4,375 shares during the period. Jag Capital Management LLC boosted its position in JPMorgan Chase & Co. by 10.5% in the fourth quarter. Jag Capital Management LLC now owns 1,474 shares of the financial services provider’s stock valued at $353,000 after buying an additional 140 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its position in JPMorgan Chase & Co. by 7.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 4,450,775 shares of the financial services provider’s stock worth $938,491,000 after buying an additional 319,730 shares during the last quarter. 71.55% of the stock is currently owned by institutional investors and hedge funds.

JPMorgan Chase & Co. Stock Performance

NYSE JPM opened at $243.58 on Wednesday. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.88 and a quick ratio of 0.89. The stock’s 50 day simple moving average is $256.88 and its 200-day simple moving average is $241.33. The company has a market cap of $681.06 billion, a PE ratio of 12.34, a price-to-earnings-growth ratio of 2.83 and a beta of 1.10. JPMorgan Chase & Co. has a 1-year low of $179.20 and a 1-year high of $280.25.

JPMorgan Chase & Co. (NYSE:JPM) last announced its earnings results on Wednesday, January 15th. The financial services provider reported $4.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.03 by $0.78. The company had revenue of $42.77 billion for the quarter, compared to analysts’ expectations of $41.90 billion. JPMorgan Chase & Co. had a net margin of 20.96% and a return on equity of 16.99%. The firm’s quarterly revenue was up 10.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $3.04 EPS. As a group, equities research analysts anticipate that JPMorgan Chase & Co. will post 18.1 EPS for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Friday, April 4th will be issued a $1.40 dividend. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.25. The ex-dividend date of this dividend is Friday, April 4th. This represents a $5.60 dividend on an annualized basis and a yield of 2.30%. JPMorgan Chase & Co.’s dividend payout ratio is presently 28.37%.

Insiders Place Their Bets

In other JPMorgan Chase & Co. news, General Counsel Stacey Friedman sold 3,303 shares of the firm’s stock in a transaction on 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 directly owns 47,620 shares of the company’s stock, valued at $12,092,622.80. This trade represents a 6.49 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Robin Leopold sold 1,250 shares of JPMorgan Chase & Co. stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $270.09, for a total value of $337,612.50. Following the transaction, the insider now owns 50,377 shares in the company, valued at approximately $13,606,323.93. This represents a 2.42 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 76,848 shares of company stock valued at $19,987,908 in the last ninety days. 0.79% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

JPM has been the subject of several recent research reports. Evercore ISI reduced their target price on shares of JPMorgan Chase & Co. from $273.00 to $265.00 and set an “outperform” rating for the company in a report on Tuesday. Bank of America boosted their price objective on JPMorgan Chase & Co. from $260.00 to $280.00 and gave the company a “buy” rating in a report on Tuesday, January 7th. Barclays raised 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. Robert W. Baird upgraded JPMorgan Chase & Co. from an “underperform” rating to a “neutral” rating and upped their price objective for the stock from $215.00 to $220.00 in a research report on Friday, March 7th. Finally, Wolfe Research raised shares of JPMorgan Chase & Co. from a “peer perform” rating to an “outperform” rating and set a $269.00 price objective on the stock in a research note on Friday, January 3rd. Ten analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $254.83.

About JPMorgan Chase & Co.

JPMorgan Chase & Co is a financial holding company, which engages in the provision of financial and investment banking services. It focuses on investment banking, financial services for consumers and small businesses, commercial banking, financial transaction processing, and asset management. It operates through the following segments: Consumer and Community Banking (CCB), Commercial and Investment Bank (CIB), Asset and Wealth Management (AWM), and Corporate.