JPL Wealth Management LLC Has $3.49 Million Stock Position in JPMorgan Chase & Co. (NYSE:JPM)

JPL Wealth Management LLC reduced its stake in JPMorgan Chase & Co. (NYSE:JPM) by 14.9% during the 1st quarter, HoldingsChannel reports. The firm owned 14,218 shares of the financial services provider’s stock after selling 2,485 shares during the quarter. JPMorgan Chase & Co. makes up approximately 1.4% of JPL Wealth Management LLC’s holdings, making the stock its 22nd biggest holding. JPL Wealth Management LLC’s holdings in JPMorgan Chase & Co. were worth $3,488,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the stock. Norges Bank acquired a new stake in shares of JPMorgan Chase & Co. in the 4th quarter valued at $8,310,884,000. GAMMA Investing LLC increased its position in shares of JPMorgan Chase & Co. by 25,861.9% during the 1st quarter. GAMMA Investing LLC now owns 23,556,011 shares of the financial services provider’s stock worth $5,778,289,000 after purchasing an additional 23,465,278 shares in the last quarter. Northern Trust Corp lifted its holdings in JPMorgan Chase & Co. by 15.4% during the 4th quarter. Northern Trust Corp now owns 33,845,676 shares of the financial services provider’s stock valued at $8,113,147,000 after purchasing an additional 4,515,147 shares during the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its holdings in JPMorgan Chase & Co. by 31.4% during the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 10,684,810 shares of the financial services provider’s stock valued at $2,561,256,000 after purchasing an additional 2,551,899 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in JPMorgan Chase & Co. by 16.3% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 17,550,491 shares of the financial services provider’s stock valued at $4,207,028,000 after buying an additional 2,465,572 shares in the last quarter. 71.55% of the stock is owned by institutional investors and hedge funds.

JPMorgan Chase & Co. Trading Down 0.1%

Shares of NYSE JPM opened at $298.22 on Tuesday. JPMorgan Chase & Co. has a fifty-two week low of $190.90 and a fifty-two week high of $299.59. The firm has a market capitalization of $828.78 billion, a P/E ratio of 15.30, a P/E/G ratio of 2.01 and a beta of 1.10. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.88 and a quick ratio of 0.89. The company’s 50 day simple moving average is $278.35 and its 200 day simple moving average is $260.40.

JPMorgan Chase & Co. (NYSE:JPM) last issued its earnings results on Tuesday, July 15th. The financial services provider reported $4.96 EPS for the quarter, beating the consensus estimate of $4.48 by $0.48. The company had revenue of $44.91 billion during the quarter, compared to analysts’ expectations of $43.76 billion. JPMorgan Chase & Co. had a net margin of 20.52% and a return on equity of 16.93%. The business’s revenue for the quarter was down 10.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $6.12 EPS. On average, analysts predict that JPMorgan Chase & Co. will post 18.1 EPS for the current year.

JPMorgan Chase & Co. Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Thursday, July 3rd will be paid a $1.40 dividend. This represents a $5.60 annualized dividend and a yield of 1.88%. The ex-dividend date of this dividend is Thursday, July 3rd. JPMorgan Chase & Co.’s payout ratio is 28.73%.

Analysts Set New Price Targets

Several research firms have recently weighed in on JPM. Morgan Stanley raised their price objective on shares of JPMorgan Chase & Co. from $296.00 to $298.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 16th. HSBC restated a “reduce” rating and set a $259.00 price target on shares of JPMorgan Chase & Co. in a research report on Tuesday, July 8th. UBS Group lifted their price objective on JPMorgan Chase & Co. from $277.00 to $305.00 and gave the company a “buy” rating in a research report on Thursday, April 17th. Bank of America increased their target price on JPMorgan Chase & Co. from $330.00 to $340.00 and gave the stock a “buy” rating in a report on Wednesday, July 16th. Finally, Wells Fargo & Company lifted their price target on JPMorgan Chase & Co. from $320.00 to $325.00 and gave the company an “overweight” rating in a report on Wednesday, July 16th. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $288.68.

Insider Buying and Selling

In related news, COO Jennifer Piepszak sold 6,129 shares of the stock in a transaction that occurred on Tuesday, May 6th. The shares were sold at an average price of $250.76, for a total value of $1,536,908.04. Following the sale, the chief operating officer directly owned 68,583 shares in the company, valued at $17,197,873.08. This trade represents a 8.20% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Jeremy Barnum sold 40,014 shares of JPMorgan Chase & Co. stock in a transaction that occurred on Tuesday, May 6th. The stock was sold at an average price of $250.77, for a total transaction of $10,034,310.78. Following the transaction, the chief financial officer directly owned 18,017 shares in the company, valued at $4,518,123.09. The trade was a 68.95% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 71,200 shares of company stock worth $18,060,015. Corporate insiders own 0.47% of the company’s stock.

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.