Front Barnett Associates LLC Lowers Holdings in JPMorgan Chase (JPM)

Front Barnett Associates LLC reduced its stake in shares of JPMorgan Chase (NYSE:JPM) by 1.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 250,077 shares of the financial services provider’s stock after selling 4,428 shares during the quarter. JPMorgan Chase accounts for approximately 4.4% of Front Barnett Associates LLC’s portfolio, making the stock its 3rd largest holding. Front Barnett Associates LLC’s holdings in JPMorgan Chase were worth $26,743,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Carmichael Hill & Associates Inc. acquired a new position in JPMorgan Chase during the fourth quarter worth about $686,000. Daiwa Securities Group Inc. grew its position in shares of JPMorgan Chase by 4.0% in the fourth quarter. Daiwa Securities Group Inc. now owns 185,892 shares of the financial services provider’s stock valued at $19,879,000 after purchasing an additional 7,185 shares during the last quarter. Bedel Financial Consulting Inc. acquired a new stake in shares of JPMorgan Chase in the fourth quarter valued at approximately $3,224,000. Community Bank N.A. grew its position in shares of JPMorgan Chase by 1.4% in the fourth quarter. Community Bank N.A. now owns 57,124 shares of the financial services provider’s stock valued at $6,109,000 after purchasing an additional 814 shares during the last quarter. Finally, Rench Wealth Management Inc. grew its position in shares of JPMorgan Chase by 11.1% in the fourth quarter. Rench Wealth Management Inc. now owns 43,073 shares of the financial services provider’s stock valued at $4,606,000 after purchasing an additional 4,300 shares during the last quarter. Institutional investors own 74.26% of the company’s stock.

Shares of JPMorgan Chase opened at $111.13 on Friday, according to Marketbeat Ratings. JPMorgan Chase has a 1 year low of $81.64 and a 1 year high of $119.33. The company has a market cap of $387.67 billion, a P/E ratio of 16.18, a PEG ratio of 1.87 and a beta of 1.24. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 1.19.

JPMorgan Chase (NYSE:JPM) last posted its quarterly earnings results on Friday, April 13th. The financial services provider reported $2.37 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.28 by $0.09. The company had revenue of $27.90 billion for the quarter, compared to the consensus estimate of $27.73 billion. JPMorgan Chase had a net margin of 22.53% and a return on equity of 12.60%. JPMorgan Chase’s revenue was up 12.0% on a year-over-year basis. During the same quarter last year, the firm posted $1.65 earnings per share. sell-side analysts anticipate that JPMorgan Chase will post 9.05 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 31st. Shareholders of record on Friday, July 6th will be paid a dividend of $0.56 per share. This represents a $2.24 dividend on an annualized basis and a yield of 2.02%. The ex-dividend date of this dividend is Thursday, July 5th. JPMorgan Chase’s dividend payout ratio is currently 32.61%.

Several research firms have recently commented on JPM. Keefe, Bruyette & Woods upgraded shares of JPMorgan Chase from a “market perform” rating to an “outperform” rating and set a $127.00 price target on the stock in a research report on Tuesday, February 13th. ValuEngine upgraded shares of JPMorgan Chase from a “hold” rating to a “buy” rating in a research report on Friday, February 2nd. Vetr upgraded shares of JPMorgan Chase from a “sell” rating to a “hold” rating and set a $105.98 price target on the stock in a research report on Monday, February 12th. Jefferies Group reiterated a “buy” rating and issued a $122.00 price target on shares of JPMorgan Chase in a research report on Monday, April 16th. Finally, Zacks Investment Research lowered shares of JPMorgan Chase from a “buy” rating to a “hold” rating in a research report on Tuesday, March 6th. Two investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and fourteen have issued a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $112.75.

In related news, Director Mellody L. Hobson purchased 18,000 shares of the business’s stock in a transaction on Monday, April 16th. The shares were bought at an average price of $111.05 per share, with a total value of $1,998,900.00. Following the completion of the purchase, the director now directly owns 864 shares in the company, valued at approximately $95,947.20. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Todd A. Combs purchased 13,000 shares of the business’s stock in a transaction on Monday, May 14th. The shares were bought at an average cost of $114.61 per share, for a total transaction of $1,489,930.00. Following the purchase, the director now owns 18,277 shares of the company’s stock, valued at $2,094,726.97. The disclosure for this purchase can be found here. Company insiders own 0.73% of the company’s stock.

JPMorgan Chase Company Profile

JPMorgan Chase & Co operates as a financial services company worldwide. It operates through four segments: Consumer & Community Banking, Corporate & Investment Bank, Commercial Banking, and Asset & Wealth Management. The Consumer & Community Banking segment offers deposit and investment products and services to consumers; lending, deposit, and cash management and payment solutions to small businesses; residential mortgages and home equity loans; and credit cards, payment processing services, auto loans and leases.

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

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