Assetmark Inc. Reduces Position in JPMorgan Chase & Co. (JPM)

Assetmark Inc. decreased its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 35.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 256,505 shares of the financial services provider’s stock after selling 138,747 shares during the quarter. Assetmark Inc.’s holdings in JPMorgan Chase & Co. were worth $24,499,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in JPM. Private Vista LLC acquired a new stake in shares of JPMorgan Chase & Co. in the second quarter valued at approximately $102,000. Kohmann Bosshard Financial Services LLC acquired a new stake in shares of JPMorgan Chase & Co. in the third quarter valued at approximately $102,000. Welch Investments LLC acquired a new stake in shares of JPMorgan Chase & Co. in the third quarter valued at approximately $103,000. Legacy Advisors LLC acquired a new stake in shares of JPMorgan Chase & Co. in the third quarter valued at approximately $106,000. Finally, Atlantic Trust LLC acquired a new stake in shares of JPMorgan Chase & Co. in the second quarter valued at approximately $136,000. Hedge funds and other institutional investors own 73.82% of the company’s stock.

Several equities research analysts have commented on the stock. Vetr upgraded shares of JPMorgan Chase & Co. from a “sell” rating to a “hold” rating and set a $105.98 price target on the stock in a research note on Monday. Morgan Stanley raised their price target on shares of JPMorgan Chase & Co. from $128.00 to $133.00 and gave the company an “overweight” rating in a research note on Friday, February 2nd. ValuEngine upgraded shares of JPMorgan Chase & Co. from a “hold” rating to a “buy” rating in a research note on Friday, February 2nd. Zacks Investment Research upgraded shares of JPMorgan Chase & Co. from a “hold” rating to a “buy” rating and set a $126.00 price objective on the stock in a research note on Thursday, January 18th. Finally, DZ Bank upgraded shares of JPMorgan Chase & Co. from a “sell” rating to a “hold” rating in a research note on Wednesday, January 17th. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating and fifteen have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $107.42.

In related news, General Counsel Stacey Friedman sold 17,729 shares of the firm’s stock in a transaction that occurred on Wednesday, January 17th. The shares were sold at an average price of $112.33, for a total transaction of $1,991,498.57. Following the completion of the sale, the general counsel now directly owns 21,260 shares in the company, valued at $2,388,135.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Ashley Bacon sold 16,434 shares of the firm’s stock in a transaction that occurred on Tuesday, January 16th. The stock was sold at an average price of $112.22, for a total transaction of $1,844,223.48. Following the sale, the insider now owns 98,811 shares of the company’s stock, valued at $11,088,570.42. The disclosure for this sale can be found here. Insiders have sold 152,047 shares of company stock valued at $17,098,115 over the last 90 days. 0.88% of the stock is currently owned by insiders.

Shares of JPMorgan Chase & Co. (NYSE:JPM) opened at $110.04 on Monday. The firm has a market cap of $381,810.00, a P/E ratio of 17.25, a P/E/G ratio of 1.86 and a beta of 1.22. JPMorgan Chase & Co. has a 1-year low of $81.64 and a 1-year high of $117.35. The company has a current ratio of 1.01, a quick ratio of 1.03 and a debt-to-equity ratio of 1.24.

JPMorgan Chase & Co. (NYSE:JPM) last issued its earnings results on Friday, January 12th. The financial services provider reported $1.76 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.69 by $0.07. The firm had revenue of $24.15 billion during the quarter, compared to analysts’ expectations of $24.87 billion. JPMorgan Chase & Co. had a net margin of 21.46% and a return on equity of 11.63%. The firm’s revenue for the quarter was up 3.3% compared to the same quarter last year. During the same period last year, the firm posted $1.71 earnings per share. equities research analysts predict that JPMorgan Chase & Co. will post 8.85 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 31st. Investors of record on Friday, January 5th were issued a dividend of $0.56 per share. This represents a $2.24 dividend on an annualized basis and a yield of 2.04%. The ex-dividend date was Thursday, January 4th. JPMorgan Chase & Co.’s payout ratio is 35.11%.

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About JPMorgan Chase & Co.

JPMorgan Chase & Co is a financial holding company. The Company is engaged in investment banking, financial services. It operates in four segments, as well as a Corporate segment. Its segments are Consumer & Community Banking, Corporate & Investment Bank, Commercial Banking and Asset Management. The Consumer & Community Banking segment offers services to consumers and businesses through bank branches, automatic teller machines (ATMs), online, mobile and telephone banking.

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

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