Keystone Wealth Services LLC Decreases Position in JPMorgan Chase & Co. (NYSE:JPM)

Keystone Wealth Services LLC cut its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 1.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,279 shares of the financial services provider’s stock after selling 78 shares during the period. Keystone Wealth Services LLC’s holdings in JPMorgan Chase & Co. were worth $728,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in JPM. Moneta Group Investment Advisors LLC raised its position in JPMorgan Chase & Co. by 105,652.2% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 98,000,567 shares of the financial services provider’s stock valued at $13,141,876,000 after purchasing an additional 97,907,897 shares during the period. Norges Bank purchased a new stake in shares of JPMorgan Chase & Co. in the fourth quarter worth approximately $3,894,646,000. Morgan Stanley raised its holdings in shares of JPMorgan Chase & Co. by 15.9% in the fourth quarter. Morgan Stanley now owns 59,049,256 shares of the financial services provider’s stock worth $7,918,506,000 after buying an additional 8,088,433 shares during the period. Wellington Management Group LLP raised its holdings in shares of JPMorgan Chase & Co. by 12.2% in the third quarter. Wellington Management Group LLP now owns 42,421,711 shares of the financial services provider’s stock worth $6,151,997,000 after buying an additional 4,603,090 shares during the period. Finally, Barclays PLC raised its holdings in shares of JPMorgan Chase & Co. by 51.6% in the second quarter. Barclays PLC now owns 8,422,975 shares of the financial services provider’s stock worth $1,225,037,000 after buying an additional 2,868,091 shares during the period. 71.55% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on JPM shares. Oppenheimer reduced their price target on JPMorgan Chase & Co. from $238.00 to $219.00 and set an “outperform” rating on the stock in a report on Tuesday, March 19th. Deutsche Bank Aktiengesellschaft upgraded JPMorgan Chase & Co. from a “hold” rating to a “buy” rating and increased their price target for the stock from $140.00 to $190.00 in a report on Tuesday, January 9th. Royal Bank of Canada reiterated an “outperform” rating and issued a $185.00 price target on shares of JPMorgan Chase & Co. in a report on Wednesday, March 20th. Barclays increased their price objective on JPMorgan Chase & Co. from $186.00 to $212.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 2nd. Finally, Morgan Stanley increased their price objective on JPMorgan Chase & Co. from $191.00 to $221.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 30th. Eight investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $181.63.

Insider Activity

In other news, General Counsel Stacey Friedman sold 6,030 shares of the company’s stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $182.73, for a total value of $1,101,861.90. Following the completion of the sale, the general counsel now directly owns 59,456 shares in the company, valued at $10,864,394.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, Vice Chairman Peter Scher sold 1,812 shares of the 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 completion of the transaction, the insider now directly owns 46,766 shares in the company, valued at $7,793,553.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, General Counsel Stacey Friedman sold 6,030 shares of the stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $182.73, for a total value of $1,101,861.90. Following the completion of the transaction, the general counsel now owns 59,456 shares of the company’s stock, valued at $10,864,394.88. The disclosure for this sale can be found here. Insiders sold 849,303 shares of company stock worth $155,107,447 over the last ninety days. Corporate insiders own 0.79% of the company’s stock.

JPMorgan Chase & Co. Stock Performance

NYSE JPM opened at $199.52 on Thursday. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.91 and a current ratio of 0.91. JPMorgan Chase & Co. has a fifty-two week low of $126.22 and a fifty-two week high of $200.48. The stock has a 50-day simple moving average of $181.58 and a two-hundred day simple moving average of $163.37. The firm has a market capitalization of $574.69 billion, a P/E ratio of 12.30, a PEG ratio of 2.46 and a beta of 1.14.

JPMorgan Chase & Co. (NYSE:JPM) last posted its quarterly earnings data on Friday, January 12th. The financial services provider reported $3.04 EPS for the quarter, missing the consensus estimate of $3.73 by ($0.69). JPMorgan Chase & Co. had a return on equity of 17.80% and a net margin of 20.70%. The firm had revenue of $38.57 billion for the quarter, compared to analysts’ expectations of $39.73 billion. During the same quarter last year, the firm posted $3.57 earnings per share. JPMorgan Chase & Co.’s quarterly revenue was up 11.7% on a year-over-year basis. On average, equities analysts forecast that JPMorgan Chase & Co. will post 15.84 earnings per share for the current year.

JPMorgan Chase & Co. Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Friday, April 5th will be given a $1.15 dividend. The ex-dividend date of this dividend is Thursday, April 4th. This is a positive change from JPMorgan Chase & Co.’s previous quarterly dividend of $1.05. This represents a $4.60 dividend on an annualized basis and a dividend yield of 2.31%. JPMorgan Chase & Co.’s dividend payout ratio is 28.36%.

About JPMorgan Chase & Co.

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; mortgage origination and servicing activities; residential mortgages and home equity loans; and credit cards, auto loans, leases, and travel services to consumers and small businesses through bank branches, ATMs, and digital and telephone banking.