Manning & Napier Group LLC Sells 85,772 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Manning & Napier Group LLC lessened its holdings in JPMorgan Chase & Co. (NYSE:JPMFree Report) by 12.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 596,646 shares of the financial services provider’s stock after selling 85,772 shares during the quarter. JPMorgan Chase & Co. makes up approximately 1.2% of Manning & Napier Group LLC’s investment portfolio, making the stock its 27th largest position. Manning & Napier Group LLC’s holdings in JPMorgan Chase & Co. were worth $101,489,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the business. State Street Corp raised its holdings in JPMorgan Chase & Co. by 1.9% in the 2nd quarter. State Street Corp now owns 126,243,947 shares of the financial services provider’s stock valued at $18,360,920,000 after buying an additional 2,384,901 shares during the last quarter. Moneta Group Investment Advisors LLC raised its holdings in JPMorgan Chase & Co. by 105,652.2% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 98,000,567 shares of the financial services provider’s stock valued at $13,141,876,000 after buying an additional 97,907,897 shares during the last quarter. Morgan Stanley raised its holdings in JPMorgan Chase & Co. by 0.3% in the 3rd quarter. Morgan Stanley now owns 62,941,343 shares of the financial services provider’s stock valued at $9,127,754,000 after buying an additional 201,441 shares during the last quarter. FMR LLC raised its holdings in JPMorgan Chase & Co. by 1.2% in the 3rd quarter. FMR LLC now owns 49,417,639 shares of the financial services provider’s stock valued at $7,166,546,000 after buying an additional 606,382 shares during the last quarter. Finally, Wellington Management Group LLP increased its position in JPMorgan Chase & Co. by 12.2% during the 3rd quarter. Wellington Management Group LLP now owns 42,421,711 shares of the financial services provider’s stock valued at $6,151,997,000 after purchasing an additional 4,603,090 shares during the period. Institutional investors own 71.55% of the company’s stock.

JPMorgan Chase & Co. Stock Performance

NYSE JPM opened at $198.95 on Tuesday. The company has a fifty day simple moving average of $183.48 and a 200 day simple moving average of $164.51. JPMorgan Chase & Co. has a 12-month low of $126.22 and a 12-month high of $200.94. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 1.30. The company has a market cap of $573.05 billion, a P/E ratio of 12.27, a PEG ratio of 2.54 and a beta of 1.15.

JPMorgan Chase & Co. (NYSE:JPMGet Free Report) last posted its quarterly earnings results on Friday, January 12th. The financial services provider reported $3.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.73 by ($0.69). JPMorgan Chase & Co. had a net margin of 20.70% and a return on equity of 17.80%. The business had revenue of $38.57 billion during the quarter, compared to analyst estimates of $39.73 billion. During the same period in the previous year, the business posted $3.57 EPS. The business’s revenue for the quarter was up 11.7% compared to the same quarter last year. Sell-side analysts predict that JPMorgan Chase & Co. will post 15.75 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Friday, April 5th will be given a $1.15 dividend. The ex-dividend date of this dividend is Thursday, April 4th. This represents a $4.60 annualized dividend and a yield of 2.31%. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.05. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is presently 25.89%.

Insider Activity at JPMorgan Chase & Co.

In related news, General Counsel Stacey Friedman sold 6,030 shares of JPMorgan Chase & Co. stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $182.73, for a total value of $1,101,861.90. Following the completion of the sale, the general counsel now owns 59,456 shares of the company’s stock, valued at approximately $10,864,394.88. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other JPMorgan Chase & Co. news, CEO Jennifer Piepszak sold 1,649 shares of the firm’s stock in a transaction on Tuesday, January 16th. The stock was sold at an average price of $166.59, for a total transaction of $274,706.91. Following the transaction, the chief executive officer now directly owns 34,467 shares in the company, valued at approximately $5,741,857.53. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, General Counsel Stacey Friedman sold 6,030 shares of the firm’s stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $182.73, for a total value of $1,101,861.90. Following the transaction, the general counsel now owns 59,456 shares in the company, valued at $10,864,394.88. The disclosure for this sale can be found here. In the last 90 days, insiders sold 849,303 shares of company stock valued at $155,107,447. 0.79% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on JPM shares. BMO Capital Markets increased their target price on shares of JPMorgan Chase & Co. from $192.00 to $194.00 and gave the company a “market perform” rating in a research report on Tuesday, January 16th. Bank of America increased their target price on shares of JPMorgan Chase & Co. from $177.00 to $188.00 and gave the company a “buy” rating in a research report on Thursday, January 4th. Barclays increased their target price on shares of JPMorgan Chase & Co. from $186.00 to $212.00 and gave the company an “overweight” rating in a research report on Tuesday, January 2nd. The Goldman Sachs Group reissued a “buy” rating on shares of JPMorgan Chase & Co. in a research report on Thursday, February 1st. Finally, Deutsche Bank Aktiengesellschaft raised shares of JPMorgan Chase & Co. from a “hold” rating to a “buy” rating and increased their target price for the company from $140.00 to $190.00 in a research report on Tuesday, January 9th. Eight analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $181.63.

Read Our Latest Stock Analysis on JPMorgan Chase & Co.

About JPMorgan Chase & Co.

(Free Report)

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 deposit, investment and lending products, cash management, and payments and services; mortgage origination and servicing activities; residential mortgages and home equity loans; and credit cards, auto loans, leases, and travel services to consumers and small businesses through bank branches, ATMs, and digital and telephone banking.

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

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