Hartford Investment Management Co. lowered its stake in JPMorgan Chase & Co. (NYSE:JPM) by 1.6% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 801,413 shares of the financial services provider’s stock after selling 13,308 shares during the period. JPMorgan Chase & Co. makes up approximately 1.4% of Hartford Investment Management Co.’s portfolio, making the stock its 7th biggest holding. Hartford Investment Management Co.’s holdings in JPMorgan Chase & Co. were worth $76,543,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in JPM. Kohmann Bosshard Financial Services LLC purchased a new position in JPMorgan Chase & Co. during the 3rd quarter valued at about $102,000. Welch Investments LLC purchased a new position in JPMorgan Chase & Co. during the 3rd quarter valued at about $103,000. Legacy Advisors LLC purchased a new position in JPMorgan Chase & Co. during the 3rd quarter valued at about $106,000. Atlantic Trust LLC purchased a new position in JPMorgan Chase & Co. during the 2nd quarter valued at about $136,000. Finally, Lipe & Dalton purchased a new position in JPMorgan Chase & Co. during the 3rd quarter valued at about $143,000. Hedge funds and other institutional investors own 73.02% of the company’s stock.
In related news, insider Peter Scher sold 26,532 shares of the business’s stock in a transaction that occurred on Friday, January 19th. The shares were sold at an average price of $113.42, for a total value of $3,009,259.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Ashley Bacon sold 16,434 shares of the business’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 completion of the transaction, 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. Over the last three months, insiders sold 152,047 shares of company stock worth $17,098,115. Insiders own 0.88% of the company’s stock.
Several research firms have weighed in on JPM. Nomura set a $115.00 price objective on JPMorgan Chase & Co. and gave the company a “neutral” rating in a research report on Friday, January 12th. Buckingham Research raised JPMorgan Chase & Co. from a “neutral” rating to a “buy” rating in a research report on Thursday, December 21st. Vetr raised JPMorgan Chase & Co. from a “strong sell” rating to a “sell” rating and set a $102.07 price objective on the stock in a research report on Tuesday, February 6th. Argus lifted their price objective on JPMorgan Chase & Co. from $109.00 to $125.00 and gave the company a “buy” rating in a research report on Friday, January 12th. Finally, Keefe, Bruyette & Woods raised JPMorgan Chase & Co. from a “market perform” rating to an “outperform” rating and set a $127.00 price objective on the stock in a research report on Tuesday, February 13th. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and sixteen have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $109.67.
Shares of JPMorgan Chase & Co. (NYSE:JPM) opened at $117.31 on Friday. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.01 and a quick ratio of 1.03. JPMorgan Chase & Co. has a 12-month low of $81.64 and a 12-month high of $117.45. The company has a market capitalization of $407,030.00, a P/E ratio of 18.39, a PEG ratio of 1.96 and a beta of 1.22.
JPMorgan Chase & Co. (NYSE:JPM) last issued its quarterly earnings results on Friday, January 12th. The financial services provider reported $1.76 EPS for the quarter, topping analysts’ consensus estimates of $1.69 by $0.07. JPMorgan Chase & Co. had a return on equity of 11.63% and a net margin of 21.46%. The firm had revenue of $24.15 billion for the quarter, compared to analysts’ expectations of $24.87 billion. During the same period in the previous year, the firm posted $1.71 EPS. The business’s revenue for the quarter was up 3.3% compared to the same quarter last year. research analysts predict that JPMorgan Chase & Co. will post 8.79 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Wednesday, January 31st. Stockholders of record on Friday, January 5th were given a $0.56 dividend. The ex-dividend date was Thursday, January 4th. This represents a $2.24 dividend on an annualized basis and a dividend yield of 1.91%. JPMorgan Chase & Co.’s dividend payout ratio is currently 35.11%.
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JPMorgan Chase & Co. Company Profile
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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