Rogco LP Cuts Stake in JPMorgan Chase & Co. (NYSE:JPM)

Rogco LP cut its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 2.5% in the fourth quarter, Holdings Channel reports. The fund owned 8,409 shares of the financial services provider’s stock after selling 216 shares during the quarter. Rogco LP’s holdings in JPMorgan Chase & Co. were worth $1,430,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Stone House Investment Management LLC increased its holdings in JPMorgan Chase & Co. by 132.8% during the fourth 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 during the period. Macroview Investment Management LLC increased its holdings in shares of JPMorgan Chase & Co. by 7,833.3% in the 3rd quarter. Macroview Investment Management LLC now owns 238 shares of the financial services provider’s stock valued at $34,000 after acquiring an additional 235 shares during the period. Briaud Financial Planning Inc purchased a new position in shares of JPMorgan Chase & Co. in the 3rd quarter valued at $40,000. Stuart Chaussee & Associates Inc. purchased a new stake in shares of JPMorgan Chase & Co. during the 4th quarter worth $40,000. Finally, Rakuten Securities Inc. purchased a new stake in shares of JPMorgan Chase & Co. during the 4th quarter worth $44,000. 71.55% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have commented on JPM. Royal Bank of Canada reiterated an “outperform” rating and issued a $185.00 target price on shares of JPMorgan Chase & Co. in a report on Wednesday, March 20th. The Goldman Sachs Group restated a “buy” rating on shares of JPMorgan Chase & Co. in a research note on Thursday, February 1st. UBS Group decreased their price objective on JPMorgan Chase & Co. from $226.00 to $219.00 and set a “buy” rating for the company in a report on Tuesday, April 16th. Keefe, Bruyette & Woods boosted their target price on JPMorgan Chase & Co. from $182.00 to $195.00 and gave the stock a “market perform” rating in a research note on Friday, April 5th. Finally, Deutsche Bank Aktiengesellschaft raised JPMorgan Chase & Co. from a “hold” rating to a “buy” rating and raised their price target for the stock from $140.00 to $190.00 in a report on Tuesday, January 9th. Eight equities research 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 currently has a consensus rating of “Moderate Buy” and an average target price of $192.05.

Insider Activity at JPMorgan Chase & Co.

In other news, General Counsel Stacey Friedman sold 6,030 shares of the business’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $182.73, for a total transaction of $1,101,861.90. Following the completion of the sale, 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 Securities & Exchange Commission, which can be accessed through the SEC website. In other JPMorgan Chase & Co. news, insider Elena A. Korablina sold 21,829 shares of the firm’s stock in a transaction on Monday, May 6th. The stock was sold at an average price of $190.91, for a total value of $4,167,374.39. Following the transaction, the insider now owns 6,484 shares in the company, valued at approximately $1,237,860.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, General Counsel Stacey Friedman sold 6,030 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 $1,101,861.90. Following the sale, the general counsel now directly owns 59,456 shares of the company’s stock, valued at approximately $10,864,394.88. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,042,525 shares of company stock valued at $190,961,526. 0.79% of the stock is owned by company insiders.

JPMorgan Chase & Co. Price Performance

Shares of NYSE JPM opened at $191.80 on Wednesday. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.92 and a quick ratio of 0.92. The stock has a market capitalization of $550.79 billion, a price-to-earnings ratio of 11.58, a PEG ratio of 2.38 and a beta of 1.13. The firm’s 50 day simple moving average is $191.74 and its 200-day simple moving average is $173.16. 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 released its quarterly earnings results on Friday, April 12th. The financial services provider reported $4.63 EPS for the quarter, beating the consensus estimate of $4.18 by $0.45. The company 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%. Analysts expect that JPMorgan Chase & Co. will post 15.98 EPS for the current year.

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 dividend of $1.15 per share. The ex-dividend date 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%.

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.