Penobscot Investment Management Company Inc. Increases Position in JPMorgan Chase & Co. (NYSE:JPM)

Penobscot Investment Management Company Inc. increased its position in shares of JPMorgan Chase & Co. (NYSE:JPM) by 3.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 118,375 shares of the financial services provider’s stock after purchasing an additional 4,047 shares during the period. JPMorgan Chase & Co. comprises about 2.4% of Penobscot Investment Management Company Inc.’s investment portfolio, making the stock its 5th largest position. Penobscot Investment Management Company Inc.’s holdings in JPMorgan Chase & Co. were worth $20,136,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Stone House Investment Management LLC raised its holdings in shares of JPMorgan Chase & Co. by 132.8% in the 4th quarter. Stone House Investment Management LLC now owns 156 shares of the financial services provider’s stock worth $27,000 after buying an additional 89 shares in the last quarter. Stuart Chaussee & Associates Inc. bought a new stake in JPMorgan Chase & Co. in the fourth quarter valued at $40,000. Macroview Investment Management LLC raised its stake in JPMorgan Chase & Co. by 7,833.3% during the third quarter. Macroview Investment Management LLC now owns 238 shares of the financial services provider’s stock worth $34,000 after acquiring an additional 235 shares in the last quarter. Rakuten Securities Inc. bought a new position in shares of JPMorgan Chase & Co. during the fourth quarter valued at $44,000. Finally, Briaud Financial Planning Inc acquired a new position in JPMorgan Chase & Co. in the third quarter valued at about $40,000. 71.55% of the stock is owned by institutional investors.

Insider Transactions at JPMorgan Chase & Co.

In related news, CEO Jennifer Piepszak sold 1,648 shares of JPMorgan Chase & Co. stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $178.96, for a total transaction of $294,926.08. Following the completion of the sale, the chief executive officer now owns 32,819 shares of the company’s stock, valued at approximately $5,873,288.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other JPMorgan Chase & Co. news, General Counsel Stacey Friedman sold 6,030 shares of the stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $182.73, for a total transaction of $1,101,861.90. Following the transaction, the general counsel now owns 59,456 shares in the company, valued at approximately $10,864,394.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Jennifer Piepszak sold 1,648 shares of JPMorgan Chase & Co. stock in a transaction on Friday, February 16th. The stock was sold at an average price of $178.96, for a total value of $294,926.08. Following the sale, the chief executive officer now directly owns 32,819 shares of the company’s stock, valued at approximately $5,873,288.24. The disclosure for this sale can be found here. Insiders have sold a total of 1,020,696 shares of company stock worth $186,794,151 in the last 90 days. Corporate insiders own 0.79% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. UBS Group dropped their price target on JPMorgan Chase & Co. from $226.00 to $219.00 and set a “buy” rating for the company in a report on Tuesday, April 16th. Evercore ISI lifted their price target on JPMorgan Chase & Co. from $188.00 to $210.00 and gave the company an “outperform” rating in a report on Thursday, April 4th. The Goldman Sachs Group reissued a “buy” rating on shares of JPMorgan Chase & Co. in a report on Thursday, February 1st. Keefe, Bruyette & Woods boosted their target price on shares of JPMorgan Chase & Co. from $182.00 to $195.00 and gave the stock a “market perform” rating in a research note on Friday, April 5th. Finally, BMO Capital Markets decreased their price target on shares of JPMorgan Chase & Co. from $196.00 to $195.00 and set a “market perform” rating on the stock in a research note on Monday, April 15th. Eight investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $192.05.

JPMorgan Chase & Co. Stock Performance

Shares of JPM opened at $190.51 on Monday. The company has a current ratio of 0.92, a quick ratio of 0.91 and a debt-to-equity ratio of 1.29. JPMorgan Chase & Co. has a 12 month low of $131.81 and a 12 month high of $200.94. The firm has a fifty day simple moving average of $191.40 and a 200 day simple moving average of $172.49. The stock has a market capitalization of $547.08 billion, a price-to-earnings ratio of 11.50, a PEG ratio of 2.39 and a beta of 1.13.

JPMorgan Chase & Co. (NYSE:JPM) last announced its quarterly earnings data on Friday, April 12th. The financial services provider reported $4.63 earnings per share for the quarter, beating the consensus estimate of $4.18 by $0.45. JPMorgan Chase & Co. had a return on equity of 17.79% and a net margin of 20.05%. The company had revenue of $41.93 billion during the quarter, compared to analysts’ expectations of $40.90 billion. Research analysts forecast that JPMorgan Chase & Co. will post 15.98 EPS for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 30th. Shareholders of record on Friday, April 5th were given a dividend of $1.15 per share. This is a positive change from JPMorgan Chase & Co.’s previous quarterly dividend of $1.05. The ex-dividend date was Thursday, April 4th. This represents a $4.60 annualized dividend and a dividend yield of 2.41%. JPMorgan Chase & Co.’s payout ratio is 27.78%.

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.