Fortitude Advisory Group L.L.C. Reduces Stock Position in JPMorgan Chase & Co. (NYSE:JPM)

Fortitude Advisory Group L.L.C. lessened its position in shares of JPMorgan Chase & Co. (NYSE:JPM) by 10.4% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 10,408 shares of the financial services provider’s stock after selling 1,213 shares during the quarter. JPMorgan Chase & Co. makes up about 1.1% of Fortitude Advisory Group L.L.C.’s holdings, making the stock its 13th largest position. Fortitude Advisory Group L.L.C.’s holdings in JPMorgan Chase & Co. were worth $1,770,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Bridgewater Advisors Inc. raised its position in shares of JPMorgan Chase & Co. by 1.2% during the 3rd quarter. Bridgewater Advisors Inc. now owns 36,534 shares of the financial services provider’s stock worth $5,298,000 after purchasing an additional 421 shares during the last quarter. Ledge Wealth Management Inc. increased its position in JPMorgan Chase & Co. by 10.7% during the third quarter. Ledge Wealth Management Inc. now owns 17,853 shares of the financial services provider’s stock worth $2,589,000 after buying an additional 1,730 shares in the last quarter. Clear Creek Financial Management LLC raised its holdings in shares of JPMorgan Chase & Co. by 2.5% in the third quarter. Clear Creek Financial Management LLC now owns 22,872 shares of the financial services provider’s stock worth $3,317,000 after acquiring an additional 552 shares during the last quarter. Mission Wealth Management LP lifted its position in shares of JPMorgan Chase & Co. by 6.1% in the third quarter. Mission Wealth Management LP now owns 31,956 shares of the financial services provider’s stock valued at $4,634,000 after acquiring an additional 1,838 shares in the last quarter. Finally, Dakota Wealth Management boosted its stake in shares of JPMorgan Chase & Co. by 4.7% during the third quarter. Dakota Wealth Management now owns 187,245 shares of the financial services provider’s stock valued at $27,154,000 after acquiring an additional 8,470 shares during the last quarter. 71.55% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on JPM shares. Oppenheimer cut their target price on shares of JPMorgan Chase & Co. from $219.00 to $217.00 and set an “outperform” rating for the company in a research note on Monday, April 15th. Evercore ISI upped 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. BMO Capital Markets lowered their target price on shares of 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. Jefferies Financial Group increased their price target on JPMorgan Chase & Co. from $202.00 to $228.00 and gave the stock a “buy” rating in a research note on Monday, April 8th. Finally, The Goldman Sachs Group restated a “buy” rating on shares of JPMorgan Chase & Co. in a report on Thursday, February 1st. Eight investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $192.05.

JPMorgan Chase & Co. Trading Down 0.1 %

NYSE JPM opened at $191.80 on Wednesday. The stock has a market cap of $550.79 billion, a P/E ratio of 11.58, a PEG ratio of 2.38 and a beta of 1.13. The company’s fifty day simple moving average is $191.74 and its 200-day simple moving average is $173.16. 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 52 week low of $133.13 and a 52 week high of $200.94.

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

JPMorgan Chase & Co. Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 30th. Investors of record on Friday, April 5th were issued 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 2.40%. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.05. JPMorgan Chase & Co.’s dividend payout ratio is currently 27.78%.

Insider Buying and Selling at JPMorgan Chase & Co.

In other JPMorgan Chase & Co. news, CEO Jennifer Piepszak sold 1,648 shares of the company’s stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 32,819 shares of the company’s stock, valued at approximately $5,873,288.24. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, Vice Chairman Peter Scher sold 1,810 shares of JPMorgan Chase & Co. stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $178.96, for a total value of $323,917.60. Following the completion of the transaction, the insider now directly owns 44,956 shares in the company, valued at $8,045,325.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Jennifer Piepszak sold 1,648 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 $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 $5,873,288.24. The disclosure for this sale can be found here. Insiders sold a total of 1,042,525 shares of company stock worth $190,961,526 in the last 90 days. 0.79% of the stock is owned by corporate insiders.

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.