Pinnacle Financial Partners Inc Has $102.22 Million Holdings in JPMorgan Chase & Co. $JPM

Pinnacle Financial Partners Inc reduced its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 34.4% in the third quarter, HoldingsChannel reports. The institutional investor owned 324,074 shares of the financial services provider’s stock after selling 170,144 shares during the period. JPMorgan Chase & Co. makes up about 2.4% of Pinnacle Financial Partners Inc’s holdings, making the stock its 5th largest holding. Pinnacle Financial Partners Inc’s holdings in JPMorgan Chase & Co. were worth $102,223,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also added to or reduced their stakes in JPM. Harbor Asset Planning Inc. purchased a new position in JPMorgan Chase & Co. during the second quarter worth $26,000. Mountain Hill Investment Partners Corp. purchased a new stake in shares of JPMorgan Chase & Co. in the third quarter valued at approximately $32,000. Family Legacy Financial Solutions LLC raised its position in JPMorgan Chase & Co. by 92.6% during the 3rd quarter. Family Legacy Financial Solutions LLC now owns 104 shares of the financial services provider’s stock valued at $33,000 after purchasing an additional 50 shares in the last quarter. Mizuho Securities Co. Ltd. lifted its stake in JPMorgan Chase & Co. by 450.0% in the second quarter. Mizuho Securities Co. Ltd. now owns 110 shares of the financial services provider’s stock worth $32,000 after acquiring an additional 90 shares during the period. Finally, Clarity Asset Management Inc. boosted its stake in shares of JPMorgan Chase & Co. by 87.1% during the second quarter. Clarity Asset Management Inc. now owns 217 shares of the financial services provider’s stock valued at $63,000 after purchasing an additional 101 shares in the last quarter. Hedge funds and other institutional investors own 71.55% of the company’s stock.

More JPMorgan Chase & Co. News

Here are the key news stories impacting JPMorgan Chase & Co. this week:

Insider Transactions at JPMorgan Chase & Co.

In related news, insider Robin Leopold sold 966 shares of the stock in a transaction dated Friday, November 7th. The shares were sold at an average price of $311.92, for a total value of $301,314.72. Following the sale, the insider directly owned 58,479 shares of the company’s stock, valued at approximately $18,240,769.68. This represents a 1.63% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Jennifer Piepszak sold 8,571 shares of the company’s stock in a transaction that occurred on Friday, January 16th. The shares were sold at an average price of $312.79, for a total value of $2,680,923.09. Following the completion of the sale, the chief operating officer directly owned 71,027 shares in the company, valued at approximately $22,216,535.33. The trade was a 10.77% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 15,834 shares of company stock worth $4,951,910. Corporate insiders own 0.47% of the company’s stock.

JPMorgan Chase & Co. Stock Up 1.2%

JPM opened at $301.25 on Tuesday. The stock has a market capitalization of $820.08 billion, a P/E ratio of 15.05, a price-to-earnings-growth ratio of 1.45 and a beta of 1.07. JPMorgan Chase & Co. has a one year low of $202.16 and a one year high of $337.25. The business’s 50-day simple moving average is $314.47 and its 200-day simple moving average is $305.96. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.86 and a current ratio of 0.85.

JPMorgan Chase & Co. (NYSE:JPMGet Free Report) last announced its earnings results on Tuesday, January 13th. The financial services provider reported $5.23 EPS for the quarter, beating analysts’ consensus estimates of $4.93 by $0.30. The business had revenue of $46.77 billion for the quarter, compared to analysts’ expectations of $45.98 billion. JPMorgan Chase & Co. had a net margin of 20.35% and a return on equity of 17.16%. The company’s quarterly revenue was up 7.1% on a year-over-year basis. During the same period in the previous year, the company posted $4.81 EPS. Analysts anticipate 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 Saturday, January 31st. Shareholders of record on Tuesday, January 6th will be given a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a yield of 2.0%. The ex-dividend date is Tuesday, January 6th. JPMorgan Chase & Co.’s dividend payout ratio is presently 29.99%.

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. The Goldman Sachs Group lifted their price target on shares of JPMorgan Chase & Co. from $354.00 to $386.00 and gave the stock a “buy” rating in a report on Tuesday, January 6th. Barclays reaffirmed a “buy” rating on shares of JPMorgan Chase & Co. in a research report on Wednesday, January 14th. Hsbc Global Res upgraded shares of JPMorgan Chase & Co. from a “moderate sell” rating to a “hold” rating in a research report on Wednesday, January 7th. Loop Capital set a $310.00 target price on JPMorgan Chase & Co. in a research note on Thursday, October 23rd. Finally, UBS Group raised their price target on shares of JPMorgan Chase & Co. from $339.00 to $350.00 and gave the stock a “buy” rating in a research note on Tuesday, October 7th. Fourteen equities research analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $336.32.

Read Our Latest Research Report on JPM

About JPMorgan Chase & Co.

(Free Report)

JPMorgan Chase & Co (NYSE: JPM) is a diversified global financial services firm headquartered in New York City. The company provides a wide range of banking and financial products and services to consumers, small businesses, corporations, governments and institutional investors worldwide. Its operations span retail banking, commercial lending, investment banking, asset management, payments and card services, and treasury and securities services.

The firm’s principal business activities are organized across several core lines: Consumer & Community Banking, which offers deposit accounts, mortgages, auto loans, credit cards and branch and digital banking under the Chase brand; Corporate & Investment Banking, which provides capital markets, advisory, underwriting, trading and risk management services; Commercial Banking, delivering lending, treasury and capital solutions to middle-market and corporate clients; and Asset & Wealth Management, which offers investment management, private banking and retirement services to institutions and high-net-worth individuals.

See Also

Want to see what other hedge funds are holding JPM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for JPMorgan Chase & Co. (NYSE:JPMFree Report).

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

Receive News & Ratings for JPMorgan Chase & Co. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for JPMorgan Chase & Co. and related companies with MarketBeat.com's FREE daily email newsletter.