New York Life Investment Management LLC Trims Stock Holdings in JPMorgan Chase & Co. (NYSE:JPM)

New York Life Investment Management LLC decreased its position in JPMorgan Chase & Co. (NYSE:JPM) by 1.3% in the fourth quarter, HoldingsChannel.com reports. The fund owned 410,089 shares of the financial services provider’s stock after selling 5,204 shares during the period. JPMorgan Chase & Co. comprises approximately 0.7% of New York Life Investment Management LLC’s investment portfolio, making the stock its 27th biggest holding. New York Life Investment Management LLC’s holdings in JPMorgan Chase & Co. were worth $69,756,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in JPM. Bridgewater Advisors Inc. grew its position in 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 period. Ledge Wealth Management Inc. grew its position in shares of JPMorgan Chase & Co. by 10.7% during the 3rd quarter. Ledge Wealth Management Inc. now owns 17,853 shares of the financial services provider’s stock valued at $2,589,000 after acquiring an additional 1,730 shares during the period. Clear Creek Financial Management LLC grew its position in shares of JPMorgan Chase & Co. by 2.5% during the 3rd quarter. Clear Creek Financial Management LLC now owns 22,872 shares of the financial services provider’s stock valued at $3,317,000 after acquiring an additional 552 shares during the period. Mission Wealth Management LP grew its position in shares of JPMorgan Chase & Co. by 6.1% during the 3rd 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 during the period. Finally, Dakota Wealth Management grew its position in shares of JPMorgan Chase & Co. by 4.7% during the 3rd 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 period. Hedge funds and other institutional investors own 71.55% of the company’s stock.

Insider Transactions at JPMorgan Chase & Co.

In other news, CEO James Dimon sold 821,778 shares of the company’s stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $182.73, for a total transaction of $150,163,493.94. Following the sale, the chief executive officer now owns 595,316 shares of the company’s stock, valued at $108,782,092.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other JPMorgan Chase & Co. news, insider Elena A. Korablina sold 21,829 shares of the company’s stock in a transaction on Monday, May 6th. The shares were sold at an average price of $190.91, for a total value of $4,167,374.39. Following the completion of the transaction, the insider now owns 6,484 shares in the company, valued at $1,237,860.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO James Dimon sold 821,778 shares of the company’s stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $182.73, for a total transaction of $150,163,493.94. Following the completion of the transaction, the chief executive officer now owns 595,316 shares of the company’s stock, valued at approximately $108,782,092.68. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,042,525 shares of company stock valued at $190,961,526. 0.79% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. UBS Group lowered their price objective on JPMorgan Chase & Co. from $226.00 to $219.00 and set a “buy” rating on the stock in a report on Tuesday, April 16th. Deutsche Bank Aktiengesellschaft upgraded JPMorgan Chase & Co. from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $140.00 to $190.00 in a report on Tuesday, January 9th. Keefe, Bruyette & Woods lifted their price objective on JPMorgan Chase & Co. from $182.00 to $195.00 and gave the stock a “market perform” rating in a report on Friday, April 5th. The Goldman Sachs Group reiterated a “buy” rating on shares of JPMorgan Chase & Co. in a report on Thursday, February 1st. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $185.00 price objective 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’s stock. Based on data from MarketBeat, JPMorgan Chase & Co. presently has a consensus rating of “Moderate Buy” and an average target price of $192.05.

JPMorgan Chase & Co. Stock Down 0.1 %

NYSE:JPM opened at $191.80 on Wednesday. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 1.29. The stock’s fifty day moving average is $191.74 and its two-hundred day moving average is $173.16. JPMorgan Chase & Co. has a 52 week low of $133.13 and a 52 week high of $200.94. The stock has a market capitalization of $550.79 billion, a price-to-earnings ratio of 11.58, a price-to-earnings-growth ratio of 2.38 and a beta of 1.13.

JPMorgan Chase & Co. (NYSE:JPM) last released its quarterly earnings results 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. JPMorgan Chase & Co. had a return on equity of 17.79% and a net margin of 20.05%. The company had revenue of $41.93 billion for the quarter, compared to analysts’ expectations of $40.90 billion. Research analysts anticipate that JPMorgan Chase & Co. will post 15.98 EPS for the current year.

JPMorgan Chase & Co. Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 30th. Stockholders of record on Friday, April 5th were given a dividend of $1.15 per share. The ex-dividend date of this dividend was Thursday, April 4th. This represents a $4.60 dividend on an annualized basis and a dividend yield of 2.40%. This is a positive change from JPMorgan Chase & Co.’s previous quarterly dividend of $1.05. JPMorgan Chase & Co.’s dividend payout ratio is currently 27.78%.

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.