Avalon Investment & Advisory Cuts Holdings in JPMorgan Chase & Co. (NYSE:JPM)

Avalon Investment & Advisory cut its position in shares of JPMorgan Chase & Co. (NYSE:JPMGet Rating) by 18.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 400,549 shares of the financial services provider’s stock after selling 90,459 shares during the quarter. JPMorgan Chase & Co. makes up about 1.3% of Avalon Investment & Advisory’s holdings, making the stock its 23rd biggest position. Avalon Investment & Advisory’s holdings in JPMorgan Chase & Co. were worth $41,857,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. HBC Financial Services PLLC boosted its stake in JPMorgan Chase & Co. by 61.2% in the second quarter. HBC Financial Services PLLC now owns 237 shares of the financial services provider’s stock valued at $27,000 after acquiring an additional 90 shares during the last quarter. Grayhawk Investment Strategies Inc. purchased a new position in JPMorgan Chase & Co. in the second quarter valued at about $32,000. Financial Connections Group Inc. boosted its stake in JPMorgan Chase & Co. by 48.5% in the second quarter. Financial Connections Group Inc. now owns 306 shares of the financial services provider’s stock valued at $34,000 after acquiring an additional 100 shares during the last quarter. Horizons Wealth Management purchased a new position in JPMorgan Chase & Co. in the second quarter valued at about $39,000. Finally, New Millennium Group LLC purchased a new position in JPMorgan Chase & Co. in the second quarter valued at about $39,000. 67.89% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. Royal Bank of Canada set a $130.00 price target on shares of JPMorgan Chase & Co. in a research report on Friday, January 13th. StockNews.com assumed coverage on shares of JPMorgan Chase & Co. in a research report on Wednesday, October 12th. They issued a “hold” rating on the stock. Morgan Stanley boosted their price target on shares of JPMorgan Chase & Co. from $153.00 to $167.00 and gave the company an “overweight” rating in a research report on Tuesday. Credit Suisse Group set a $155.00 price target on shares of JPMorgan Chase & Co. in a research report on Tuesday. Finally, Barclays boosted their price target on shares of JPMorgan Chase & Co. from $162.00 to $189.00 and gave the company an “overweight” rating in a research report on Tuesday, January 3rd. Seven analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $147.89.

JPMorgan Chase & Co. Price Performance

Shares of NYSE:JPM opened at $135.08 on Friday. The company’s fifty day moving average price is $134.60 and its 200-day moving average price is $122.65. The firm has a market capitalization of $396.22 billion, a price-to-earnings ratio of 11.18, a PEG ratio of 2.23 and a beta of 1.13. JPMorgan Chase & Co. has a one year low of $101.28 and a one year high of $159.03. The company has a debt-to-equity ratio of 1.12, a current ratio of 0.84 and a quick ratio of 0.84.

JPMorgan Chase & Co. (NYSE:JPMGet Rating) last issued its quarterly earnings results on Friday, January 13th. The financial services provider reported $3.57 EPS for the quarter, topping analysts’ consensus estimates of $3.14 by $0.43. JPMorgan Chase & Co. had a net margin of 24.34% and a return on equity of 14.68%. The firm had revenue of $34.55 billion for the quarter, compared to analyst estimates of $34.23 billion. During the same quarter in the prior year, the firm earned $3.33 EPS. The business’s revenue for the quarter was up 18.1% compared to the same quarter last year. On average, equities research analysts anticipate that JPMorgan Chase & Co. will post 12.81 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 31st. Stockholders of record on Friday, January 6th will be paid a $1.00 dividend. The ex-dividend date of this dividend is Thursday, January 5th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.96%. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is 33.11%.

Insider Activity

In other JPMorgan Chase & Co. news, Director Mellody L. Hobson acquired 375 shares of the business’s stock in a transaction dated Thursday, January 19th. The stock was bought at an average price of $134.53 per share, with a total value of $50,448.75. Following the purchase, the director now owns 22,040 shares of the company’s stock, valued at $2,965,041.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Mellody L. Hobson purchased 375 shares of the company’s stock in a transaction on Thursday, January 19th. The stock was acquired at an average price of $134.53 per share, with a total value of $50,448.75. Following the transaction, the director now directly owns 22,040 shares of the company’s stock, valued at approximately $2,965,041.20. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, General Counsel Stacey Friedman sold 23,148 shares of the stock in a transaction on Tuesday, January 17th. The shares were sold at an average price of $140.31, for a total transaction of $3,247,895.88. Following the sale, the general counsel now directly owns 48,311 shares of the company’s stock, valued at approximately $6,778,516.41. The disclosure for this sale can be found here. In the last 90 days, insiders sold 46,336 shares of company stock valued at $6,372,156. Corporate insiders own 0.79% of the company’s stock.

JPMorgan Chase & Co. Company Profile

(Get Rating)

JPMorgan Chase & Co operates as a financial services company worldwide. It operates through four segments: Consumer & Community Banking (CCB), Corporate & Investment Bank (CIB), Commercial Banking (CB), and Asset & Wealth Management (AWM). The CCB segment offers s deposit, investment and lending products, payments, and services to consumers; lending, deposit, and cash management and payment solutions to small businesses; mortgage origination and servicing activities; residential mortgages and home equity loans; and credit card, auto loan, and leasing services.

Recommended Stories

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.