Principle Wealth Partners LLC Sells 439 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Principle Wealth Partners LLC reduced its position in JPMorgan Chase & Co. (NYSE:JPM) by 0.1% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 352,942 shares of the financial services provider’s stock after selling 439 shares during the quarter. JPMorgan Chase & Co. comprises approximately 5.2% of Principle Wealth Partners LLC’s investment portfolio, making the stock its 2nd largest position. Principle Wealth Partners LLC’s holdings in JPMorgan Chase & Co. were worth $60,035,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the company. International Assets Investment Management LLC purchased a new stake in JPMorgan Chase & Co. in the 4th quarter valued at $1,017,893,000. Wellington Management Group LLP raised its holdings in shares of 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 worth $6,151,997,000 after acquiring an additional 4,603,090 shares during the period. J.P. Morgan Private Wealth Advisors LLC acquired a new position in shares of JPMorgan Chase & Co. during the 3rd quarter valued at about $253,076,000. Cerity Partners LLC grew its holdings in shares of JPMorgan Chase & Co. by 155.2% in 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 purchasing an additional 1,366,360 shares during the period. Finally, Comerica Bank increased its holdings in shares of JPMorgan Chase & Co. by 3,025.7% during the 3rd quarter. Comerica Bank now owns 1,267,455 shares of the financial services provider’s stock worth $183,806,000 after buying an additional 1,226,905 shares during the last quarter. 71.55% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

JPM has been the subject of several recent analyst reports. Deutsche Bank Aktiengesellschaft raised JPMorgan Chase & Co. from a “hold” rating to a “buy” rating and raised their target price for the stock from $140.00 to $190.00 in a research note on Tuesday, January 9th. Keefe, Bruyette & Woods upped their price objective on shares of JPMorgan Chase & Co. from $182.00 to $195.00 and gave the stock a “market perform” rating in a report on Friday, April 5th. Wells Fargo & Company increased their price objective on shares of JPMorgan Chase & Co. from $200.00 to $220.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 20th. Oppenheimer cut their target price on JPMorgan Chase & Co. from $219.00 to $217.00 and set an “outperform” rating on the stock in a research report on Monday, April 15th. Finally, BMO Capital Markets dropped their price objective on JPMorgan Chase & Co. from $196.00 to $195.00 and set a “market perform” rating for the company in a research note on Monday, April 15th. Eight equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $192.05.

JPMorgan Chase & Co. Price Performance

Shares of JPM opened at $190.51 on Friday. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.92 and a quick ratio of 0.91. JPMorgan Chase & Co. has a 1-year low of $131.81 and a 1-year high of $200.94. The stock has a market cap of $547.16 billion, a PE ratio of 11.50, a price-to-earnings-growth ratio of 2.41 and a beta of 1.13. The firm has a fifty day moving average price of $191.27 and a 200 day moving average price of $171.84.

JPMorgan Chase & Co. Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 30th. Shareholders of record on Friday, April 5th were paid a $1.15 dividend. The ex-dividend date of this dividend was Thursday, April 4th. This represents a $4.60 dividend on an annualized basis and a yield of 2.41%. This is a boost from JPMorgan Chase & Co.’s previous quarterly dividend of $1.05. JPMorgan Chase & Co.’s payout ratio is currently 27.78%.

Insider Transactions at JPMorgan Chase & Co.

In related news, CEO Jennifer Piepszak sold 1,648 shares of the company’s stock in a transaction 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 sale, the chief executive officer now owns 32,819 shares in the company, valued at approximately $5,873,288.24. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, General Counsel Stacey Friedman sold 6,030 shares of the business’s stock in a transaction that occurred on Thursday, February 22nd. The stock was 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 of the company’s stock, valued at $10,864,394.88. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Jennifer Piepszak sold 1,648 shares of the stock in a transaction on Friday, February 16th. The stock was sold at an average price of $178.96, for a total value of $294,926.08. Following the sale, the chief executive officer now directly owns 32,819 shares of the company’s stock, valued at $5,873,288.24. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,020,696 shares of company stock worth $186,794,151. Insiders own 0.79% of the company’s stock.

JPMorgan Chase & Co. Company Profile

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.