W.G. Shaheen & Associates DBA Whitney & Co Reduces Stock Position in JPMorgan Chase & Co. (NYSE:JPM)

W.G. Shaheen & Associates DBA Whitney & Co cut its holdings in JPMorgan Chase & Co. (NYSE:JPMFree Report) by 0.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 106,681 shares of the financial services provider’s stock after selling 655 shares during the period. JPMorgan Chase & Co. comprises about 2.3% of W.G. Shaheen & Associates DBA Whitney & Co’s holdings, making the stock its 12th largest position. W.G. Shaheen & Associates DBA Whitney & Co’s holdings in JPMorgan Chase & Co. were worth $15,471,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Wade G W & Inc. raised its stake in JPMorgan Chase & Co. by 1.2% in the third quarter. Wade G W & Inc. now owns 213,179 shares of the financial services provider’s stock valued at $30,915,000 after buying an additional 2,488 shares in the last quarter. Ausdal Financial Partners Inc. raised its stake in JPMorgan Chase & Co. by 1.1% in the third quarter. Ausdal Financial Partners Inc. now owns 9,602 shares of the financial services provider’s stock valued at $1,393,000 after buying an additional 108 shares in the last quarter. Annis Gardner Whiting Capital Advisors LLC acquired a new stake in shares of JPMorgan Chase & Co. during the third quarter worth about $677,000. Bell Investment Advisors Inc increased its position in shares of JPMorgan Chase & Co. by 76.1% during the third quarter. Bell Investment Advisors Inc now owns 2,068 shares of the financial services provider’s stock worth $300,000 after purchasing an additional 894 shares in the last quarter. Finally, Shepherd Financial Partners LLC increased its position in shares of JPMorgan Chase & Co. by 6.9% during the third quarter. Shepherd Financial Partners LLC now owns 44,827 shares of the financial services provider’s stock worth $6,501,000 after purchasing an additional 2,883 shares in the last quarter. 68.94% of the stock is currently owned by institutional investors and hedge funds.

JPMorgan Chase & Co. Price Performance

Shares of JPM opened at $175.01 on Monday. JPMorgan Chase & Co. has a twelve month low of $123.11 and a twelve month high of $178.30. The stock’s 50 day moving average is $168.65 and its two-hundred day moving average is $155.28. The firm has a market capitalization of $503.44 billion, a PE ratio of 10.79, a P/E/G ratio of 2.21 and a beta of 1.14. The company has a current ratio of 0.91, a quick ratio of 0.90 and a debt-to-equity ratio of 1.30.

JPMorgan Chase & Co. (NYSE:JPMGet Free Report) last announced its quarterly earnings data on Friday, January 12th. The financial services provider reported $3.04 earnings per share for the quarter, missing analysts’ consensus estimates of $3.73 by ($0.69). JPMorgan Chase & Co. had a net margin of 20.70% and a return on equity of 17.80%. The business had revenue of $38.57 billion during the quarter, compared to analysts’ expectations of $39.73 billion. During the same period in the prior year, the firm posted $3.57 EPS. JPMorgan Chase & Co.’s revenue for the quarter was up 11.7% compared to the same quarter last year. Research analysts anticipate that JPMorgan Chase & Co. will post 15.87 earnings per share for the current year.

JPMorgan Chase & Co. Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 31st. Stockholders of record on Thursday, January 4th were given a dividend of $1.05 per share. The ex-dividend date of this dividend was Thursday, January 4th. This represents a $4.20 dividend on an annualized basis and a dividend yield of 2.40%. JPMorgan Chase & Co.’s payout ratio is 25.89%.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on JPM. Oppenheimer lifted their target price on JPMorgan Chase & Co. from $232.00 to $238.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 30th. Morgan Stanley lifted their target price on JPMorgan Chase & Co. from $191.00 to $221.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 30th. Bank of America lifted their target price on JPMorgan Chase & Co. from $177.00 to $188.00 and gave the stock a “buy” rating in a research report on Thursday, January 4th. Deutsche Bank Aktiengesellschaft upgraded JPMorgan Chase & Co. from a “hold” rating to a “buy” rating and lifted their target price for the stock from $140.00 to $190.00 in a research report on Tuesday, January 9th. Finally, Barclays lifted their target price on JPMorgan Chase & Co. from $186.00 to $212.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 2nd. Eight investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, JPMorgan Chase & Co. presently has a consensus rating of “Moderate Buy” and a consensus price target of $179.11.

View Our Latest Stock Report on JPMorgan Chase & Co.

Insider Activity

In other news, Vice Chairman Peter Scher sold 1,812 shares of JPMorgan Chase & Co. stock in a transaction that occurred on Tuesday, January 16th. The shares were sold at an average price of $166.65, for a total transaction of $301,969.80. Following the completion of the sale, the insider now directly owns 46,766 shares in the company, valued at approximately $7,793,553.90. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, CEO Marianne Lake sold 32,243 shares of JPMorgan Chase & Co. stock in a transaction that occurred on Tuesday, December 12th. The stock was sold at an average price of $160.00, for a total transaction of $5,158,880.00. Following the completion of the transaction, the chief executive officer now directly owns 131,962 shares in the company, valued at approximately $21,113,920. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Vice Chairman Peter Scher sold 1,812 shares of JPMorgan Chase & Co. stock in a transaction that occurred on Tuesday, January 16th. The stock was sold at an average price of $166.65, for a total value of $301,969.80. Following the transaction, the insider now owns 46,766 shares of the company’s stock, valued at $7,793,553.90. The disclosure for this sale can be found here. In the last three months, insiders sold 39,072 shares of company stock worth $6,297,103. Company insiders own 0.79% of the company’s stock.

JPMorgan Chase & Co. Profile

(Free Report)

JPMorgan Chase & Co operates as a financial services company worldwide. It operates through four segments: Consumer & Community Banking (CCB), Corporate & Investment Bank (CIB), Commercial Banking (CB), and Asset & Wealth Management (AWM). The CCB segment offers deposit, investment and lending products, cash management, and payments and services to consumers and small businesses; mortgage origination and servicing activities; residential mortgages and home equity loans; and credit cards, auto loans, leases, and travel services.

Further Reading

Institutional Ownership by Quarter for JPMorgan Chase & Co. (NYSE:JPM)

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