Cary Street Partners Asset Management LLC Decreases Stock Holdings in JPMorgan Chase & Co. (NYSE:JPM)

Cary Street Partners Asset Management LLC reduced its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 4.2% in the fourth quarter, HoldingsChannel reports. The firm owned 32,082 shares of the financial services provider’s stock after selling 1,404 shares during the period. JPMorgan Chase & Co. makes up approximately 0.9% of Cary Street Partners Asset Management LLC’s investment portfolio, making the stock its 29th largest position. Cary Street Partners Asset Management LLC’s holdings in JPMorgan Chase & Co. were worth $5,457,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in JPM. Stone House Investment Management LLC increased its position in JPMorgan Chase & Co. by 132.8% during the 4th quarter. Stone House Investment Management LLC now owns 156 shares of the financial services provider’s stock valued at $27,000 after buying an additional 89 shares in the last quarter. Macroview Investment Management LLC increased its position in JPMorgan Chase & Co. by 7,833.3% during the 3rd quarter. Macroview Investment Management LLC now owns 238 shares of the financial services provider’s stock valued at $34,000 after buying an additional 235 shares in the last quarter. Briaud Financial Planning Inc acquired a new position in JPMorgan Chase & Co. during the 3rd quarter valued at about $40,000. Stuart Chaussee & Associates Inc. acquired a new position in JPMorgan Chase & Co. during the 4th quarter valued at about $40,000. Finally, Rakuten Securities Inc. acquired a new position in JPMorgan Chase & Co. during the 4th quarter valued at about $44,000. 71.55% of the stock is currently owned by hedge funds and other institutional investors.

JPMorgan Chase & Co. Stock Performance

Shares of JPM stock opened at $191.96 on Tuesday. The company has a market capitalization of $551.25 billion, a P/E ratio of 11.59, a P/E/G ratio of 2.38 and a beta of 1.13. The business’s 50 day moving average is $191.58 and its two-hundred day moving average is $172.82. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 1.29. JPMorgan Chase & Co. has a 12-month low of $133.13 and a 12-month high of $200.94.

JPMorgan Chase & Co. (NYSE:JPM) last issued its quarterly earnings results on Friday, April 12th. The financial services provider reported $4.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.18 by $0.45. The company had revenue of $41.93 billion for the quarter, compared to the consensus estimate of $40.90 billion. JPMorgan Chase & Co. had a return on equity of 17.79% and a net margin of 20.05%. Analysts expect that JPMorgan Chase & Co. will post 15.98 EPS for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 30th. Stockholders of record on Friday, April 5th were given a $1.15 dividend. This represents a $4.60 annualized dividend and a dividend yield of 2.40%. The ex-dividend date was Thursday, April 4th. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.05. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is 27.78%.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. Keefe, Bruyette & Woods increased their price objective on JPMorgan Chase & Co. from $182.00 to $195.00 and gave the company a “market perform” rating in a report on Friday, April 5th. Evercore ISI increased their price objective on JPMorgan Chase & Co. from $188.00 to $210.00 and gave the company an “outperform” rating in a report on Thursday, April 4th. Deutsche Bank Aktiengesellschaft raised JPMorgan Chase & Co. from a “hold” rating to a “buy” rating and increased their price objective for the company from $140.00 to $190.00 in a report on Tuesday, January 9th. Jefferies Financial Group increased their price objective on JPMorgan Chase & Co. from $202.00 to $228.00 and gave the company a “buy” rating in a report on Monday, April 8th. Finally, Morgan Stanley cut their price objective on JPMorgan Chase & Co. from $221.00 to $216.00 and set an “overweight” rating on the stock in a report on Monday, April 15th. Eight research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $192.05.

Insider Activity

In related news, insider Lori A. Beer sold 3,920 shares of the stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $195.36, for a total value of $765,811.20. Following the completion of the sale, the insider now owns 64,783 shares of the company’s stock, valued at $12,656,006.88. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, insider Lori A. Beer sold 3,920 shares of the stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $195.36, for a total value of $765,811.20. Following the completion of the sale, the insider now owns 64,783 shares of the company’s stock, valued at $12,656,006.88. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Jennifer Piepszak sold 1,648 shares of the 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 sale, the chief executive officer now directly owns 32,819 shares of the company’s stock, valued at approximately $5,873,288.24. The disclosure for this sale can be found here. Insiders have sold a total of 1,042,525 shares of company stock worth $190,961,526 over the last quarter. 0.79% of the stock is currently owned by corporate insiders.

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.