Carmel Capital Partners LLC Reduces Stake in JPMorgan Chase & Co. (NYSE:JPM)

Carmel Capital Partners LLC lowered its stake in JPMorgan Chase & Co. (NYSE:JPM) by 24.4% in the 4th quarter, HoldingsChannel reports. The fund owned 2,488 shares of the financial services provider’s stock after selling 804 shares during the period. Carmel Capital Partners LLC’s holdings in JPMorgan Chase & Co. were worth $423,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in JPM. International Assets Investment Management LLC purchased a new position in JPMorgan Chase & Co. in the fourth quarter worth about $1,017,893,000. Wellington Management Group LLP grew its position in JPMorgan Chase & Co. by 12.2% in the third quarter. Wellington Management Group LLP now owns 42,421,711 shares of the financial services provider’s stock worth $6,151,997,000 after acquiring an additional 4,603,090 shares in the last quarter. J.P. Morgan Private Wealth Advisors LLC purchased a new position in shares of JPMorgan Chase & Co. during the third quarter valued at approximately $253,076,000. Cerity Partners LLC boosted its position in shares of JPMorgan Chase & Co. by 155.2% during the fourth quarter. Cerity Partners LLC now owns 2,246,582 shares of the financial services provider’s stock valued at $382,144,000 after buying an additional 1,366,360 shares during the period. Finally, Comerica Bank boosted its position in shares of JPMorgan Chase & Co. by 3,025.7% during the third quarter. Comerica Bank now owns 1,267,455 shares of the financial services provider’s stock valued at $183,806,000 after buying an additional 1,226,905 shares during the period. Hedge funds and other institutional investors own 71.55% of the company’s stock.

JPMorgan Chase & Co. Stock Performance

Shares of NYSE:JPM opened at $193.49 on Friday. The company has a market capitalization of $555.72 billion, a price-to-earnings ratio of 11.68, a price-to-earnings-growth ratio of 2.42 and a beta of 1.15. JPMorgan Chase & Co. has a 52 week low of $131.81 and a 52 week high of $200.94. The company has a quick ratio of 0.91, a current ratio of 0.92 and a debt-to-equity ratio of 1.29. The firm has a 50 day moving average of $190.36 and a 200 day moving average of $170.74.

JPMorgan Chase & Co. Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Friday, April 5th will be paid a $1.15 dividend. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.05. The ex-dividend date of this dividend is Thursday, April 4th. This represents a $4.60 dividend on an annualized basis and a yield of 2.38%. JPMorgan Chase & Co.’s payout ratio is 27.78%.

Insider Buying and Selling

In related news, CEO Jennifer Piepszak sold 1,648 shares of the business’s stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $178.96, for a total value of $294,926.08. Following the completion of the transaction, the chief executive officer now owns 32,819 shares of the company’s stock, valued at $5,873,288.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other JPMorgan Chase & Co. news, insider Lori A. Beer sold 3,920 shares of JPMorgan Chase & Co. stock in a transaction on Monday, March 25th. The shares were sold at an average price of $195.36, for a total value of $765,811.20. Following the transaction, the insider now directly owns 64,783 shares of the company’s stock, valued at $12,656,006.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Jennifer Piepszak sold 1,648 shares of JPMorgan Chase & Co. stock in a transaction on Friday, February 16th. The stock was sold at an average price of $178.96, for a total transaction of $294,926.08. Following the completion of the transaction, the chief executive officer now directly owns 32,819 shares in the company, valued at $5,873,288.24. The disclosure for this sale can be found here. Insiders sold 1,020,696 shares of company stock valued at $186,794,151 over the last 90 days. Corporate insiders own 0.79% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. Barclays boosted their target price on JPMorgan Chase & Co. from $186.00 to $212.00 and gave the company an “overweight” rating in a research report on Tuesday, January 2nd. Jefferies Financial Group boosted their target price on JPMorgan Chase & Co. from $202.00 to $228.00 and gave the company a “buy” rating in a research report on Monday, April 8th. Oppenheimer dropped their target price on JPMorgan Chase & Co. from $219.00 to $217.00 and set an “outperform” rating for the company in a research report on Monday, April 15th. Wells Fargo & Company boosted their target price on JPMorgan Chase & Co. from $200.00 to $220.00 and gave the company an “overweight” rating in a research report on Wednesday, March 20th. Finally, The Goldman Sachs Group reaffirmed a “buy” rating on shares of JPMorgan Chase & Co. in a research note on Thursday, February 1st. Eight equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $192.05.

About JPMorgan Chase & Co.

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.