Argyle Capital Management Inc. Cuts Holdings in JPMorgan Chase & Co. (NYSE:JPM)

Argyle Capital Management Inc. cut its stake in JPMorgan Chase & Co. (NYSE:JPM) by 17.5% in the 4th quarter, Holdings Channel reports. The firm owned 35,327 shares of the financial services provider’s stock after selling 7,500 shares during the period. JPMorgan Chase & Co. makes up about 2.5% of Argyle Capital Management Inc.’s portfolio, making the stock its 7th biggest position. Argyle Capital Management Inc.’s holdings in JPMorgan Chase & Co. were worth $6,009,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Morgan Stanley boosted its holdings in shares of JPMorgan Chase & Co. by 0.3% during 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 in the last quarter. FMR LLC lifted its position in JPMorgan Chase & Co. by 1.2% during 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 acquiring an additional 606,382 shares during the period. Wellington Management Group LLP boosted its stake in JPMorgan Chase & Co. by 12.2% during 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. Northern Trust Corp grew its holdings in JPMorgan Chase & Co. by 2.7% in the third quarter. Northern Trust Corp now owns 33,089,310 shares of the financial services provider’s stock worth $4,798,612,000 after purchasing an additional 871,091 shares during the period. Finally, Ameriprise Financial Inc. increased its stake in shares of JPMorgan Chase & Co. by 2.0% during the third quarter. Ameriprise Financial Inc. now owns 23,724,676 shares of the financial services provider’s stock valued at $3,442,313,000 after purchasing an additional 457,184 shares in the last quarter. 71.55% of the stock is owned by hedge funds and other institutional investors.

JPMorgan Chase & Co. Price Performance

Shares of NYSE:JPM opened at $190.51 on Friday. 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 stock has a market capitalization of $547.08 billion, a PE ratio of 11.50, a price-to-earnings-growth ratio of 2.40 and a beta of 1.13. The firm’s 50 day moving average price is $191.40 and its 200-day moving average price is $172.13. JPMorgan Chase & Co. has a twelve month low of $131.81 and a twelve month high of $200.94.

JPMorgan Chase & Co. Increases Dividend

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

Insider Transactions at JPMorgan Chase & Co.

In other news, CEO Jennifer Piepszak sold 1,648 shares of the company’s 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 completion of the sale, the chief executive officer now directly owns 32,819 shares in the company, valued at approximately $5,873,288.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, 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 transaction, the chief executive officer now directly owns 32,819 shares in the company, valued at $5,873,288.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Vice Chairman Peter Scher sold 1,810 shares of the business’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $178.96, for a total value of $323,917.60. Following the sale, the insider now directly owns 44,956 shares of the company’s stock, valued at approximately $8,045,325.76. The disclosure for this sale can be found here. Insiders have sold 1,020,696 shares of company stock worth $186,794,151 in the last 90 days. 0.79% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several analysts recently weighed in on JPM shares. UBS Group cut their price target on JPMorgan Chase & Co. from $226.00 to $219.00 and set a “buy” rating on the stock in a research note on Tuesday, April 16th. Deutsche Bank Aktiengesellschaft upgraded JPMorgan Chase & Co. from a “hold” rating to a “buy” rating and raised their price target for the company from $140.00 to $190.00 in a report on Tuesday, January 9th. BMO Capital Markets dropped their price target on shares of JPMorgan Chase & Co. from $196.00 to $195.00 and set a “market perform” rating on the stock in a research note on Monday, April 15th. Evercore ISI raised their price objective on shares of JPMorgan Chase & Co. from $188.00 to $210.00 and gave the company an “outperform” rating in a research note on Thursday, April 4th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $185.00 target price on shares of JPMorgan Chase & Co. in a report on Wednesday, March 20th. Eight equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $192.05.

JPMorgan Chase & Co. 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.