JPMorgan Chase & Co. (NYSE:JPM) Holdings Lessened by ProVise Management Group LLC

ProVise Management Group LLC cut its position in JPMorgan Chase & Co. (NYSE:JPM) by 6.2% in the 4th quarter, Holdings Channel.com reports. The firm owned 111,253 shares of the financial services provider’s stock after selling 7,307 shares during the quarter. JPMorgan Chase & Co. comprises 2.3% of ProVise Management Group LLC’s holdings, making the stock its 9th largest position. ProVise Management Group LLC’s holdings in JPMorgan Chase & Co. were worth $26,668,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the company. Midwest Capital Advisors LLC purchased a new stake in JPMorgan Chase & Co. during the 4th quarter worth approximately $43,000. Legacy Investment Solutions LLC acquired a new stake in shares of JPMorgan Chase & Co. during the third quarter worth approximately $45,000. Collier Financial bought a new stake in shares of JPMorgan Chase & Co. in the fourth quarter worth $45,000. Lowe Wealth Advisors LLC increased its stake in shares of JPMorgan Chase & Co. by 34.0% in the fourth quarter. Lowe Wealth Advisors LLC now owns 201 shares of the financial services provider’s stock worth $48,000 after buying an additional 51 shares during the last quarter. Finally, Kieckhefer Group LLC acquired a new stake in JPMorgan Chase & Co. in the fourth quarter valued at $50,000. 71.55% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

JPM has been the subject of several recent analyst reports. Barclays raised their price objective on shares of JPMorgan Chase & Co. from $304.00 to $330.00 and gave the stock an “overweight” rating in a report on Thursday, January 16th. UBS Group boosted their price objective on JPMorgan Chase & Co. from $276.00 to $287.00 and gave the company a “buy” rating in a report on Thursday, January 16th. Keefe, Bruyette & Woods increased their target price on JPMorgan Chase & Co. from $257.00 to $264.00 and gave the stock a “market perform” rating in a report on Thursday, January 16th. Bank of America lifted their target price on JPMorgan Chase & Co. from $260.00 to $280.00 and gave the stock a “buy” rating in a research report on Tuesday, January 7th. Finally, Wolfe Research raised JPMorgan Chase & Co. from a “peer perform” rating to an “outperform” rating and set a $269.00 price target on the stock in a research report on Friday, January 3rd. Ten analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $252.89.

Insider Activity

In other news, CEO Troy L. Rohrbaugh sold 37,500 shares of the firm’s stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $269.84, for a total transaction of $10,119,000.00. Following the completion of the sale, the chief executive officer now directly owns 158,381 shares of the company’s stock, valued at $42,737,529.04. This trade represents a 19.14 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, General Counsel Stacey Friedman sold 3,303 shares of JPMorgan Chase & Co. stock in a transaction that occurred on Thursday, January 16th. The shares were sold at an average price of $253.94, for a total transaction of $838,763.82. Following the completion of the sale, the general counsel now owns 47,620 shares of the company’s stock, valued at $12,092,622.80. This trade represents a 6.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 76,848 shares of company stock valued at $19,987,908 over the last three months. Insiders own 0.79% of the company’s stock.

JPMorgan Chase & Co. Price Performance

Shares of NYSE:JPM opened at $250.99 on Wednesday. The firm’s 50 day moving average is $258.02 and its two-hundred day moving average is $239.98. The company has a current ratio of 0.88, a quick ratio of 0.89 and a debt-to-equity ratio of 1.24. The firm has a market capitalization of $701.79 billion, a P/E ratio of 12.71, a PEG ratio of 2.83 and a beta of 1.10. JPMorgan Chase & Co. has a 52 week low of $179.20 and a 52 week high of $280.25.

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

JPMorgan Chase & Co. Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Friday, April 4th will be given a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a dividend yield of 2.23%. The ex-dividend date is Friday, April 4th. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.25. JPMorgan Chase & Co.’s dividend payout ratio is 28.37%.

About JPMorgan Chase & Co.

JPMorgan Chase & Co is a financial holding company, which engages in the provision of financial and investment banking services. The firm offers a range of investment banking products and services in all capital markets, including advising on corporate strategy and structure, capital raising in equity and debt markets, risk management, market making in cash securities and derivative instruments, and brokerage and research.