Schmidt P J Investment Management Inc. Cuts Stake in JPMorgan Chase & Co. (NYSE:JPM)

Schmidt P J Investment Management Inc. cut its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 2.3% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 35,749 shares of the financial services provider’s stock after selling 833 shares during the quarter. JPMorgan Chase & Co. accounts for approximately 1.2% of Schmidt P J Investment Management Inc.’s holdings, making the stock its 25th biggest holding. Schmidt P J Investment Management Inc.’s holdings in JPMorgan Chase & Co. were worth $6,159,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Macroview Investment Management LLC boosted its holdings 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 acquiring an additional 235 shares during the period. Briaud Financial Planning Inc bought a new stake in JPMorgan Chase & Co. in the third quarter valued at approximately $40,000. Morton Brown Family Wealth LLC boosted its stake in shares of JPMorgan Chase & Co. by 2,308.3% during the fourth quarter. Morton Brown Family Wealth LLC now owns 289 shares of the financial services provider’s stock valued at $49,000 after purchasing an additional 277 shares during the period. FSC Wealth Advisors LLC grew its holdings in shares of JPMorgan Chase & Co. by 290.9% in the third quarter. FSC Wealth Advisors LLC now owns 387 shares of the financial services provider’s stock worth $56,000 after purchasing an additional 288 shares during the last quarter. Finally, Legacy Financial Group LLC purchased a new position in shares of JPMorgan Chase & Co. in the third quarter worth $58,000. 71.55% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have issued reports on JPM shares. Oppenheimer cut their price target on shares of JPMorgan Chase & Co. from $219.00 to $217.00 and set an “outperform” rating on the stock in a report on Monday, April 15th. BMO Capital Markets cut their target price on 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. Jefferies Financial Group boosted their price target on JPMorgan Chase & Co. from $202.00 to $228.00 and gave the company a “buy” rating in a report on Monday, April 8th. UBS Group dropped 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. Finally, Bank of America boosted their target price on JPMorgan Chase & Co. from $177.00 to $188.00 and gave the company a “buy” rating in a research note on Thursday, January 4th. Eight analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $192.05.

Insiders Place Their Bets

In other news, CEO Jennifer Piepszak sold 1,648 shares of JPMorgan Chase & Co. stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $178.96, for a total transaction of $294,926.08. Following the completion of 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. In other news, CEO Jennifer Piepszak sold 1,648 shares of the 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 sale, the chief executive officer now directly owns 32,819 shares of the company’s stock, valued at $5,873,288.24. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, 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 of the company’s stock, valued at approximately $8,045,325.76. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,020,696 shares of company stock worth $186,794,151. 0.79% of the stock is currently owned by company insiders.

JPMorgan Chase & Co. Stock Up 2.5 %

NYSE:JPM opened at $185.80 on Friday. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.92 and a quick ratio of 0.91. The firm’s 50-day moving average price is $188.83 and its 200-day moving average price is $168.88. The company has a market capitalization of $533.63 billion, a PE ratio of 11.22, a P/E/G ratio of 2.26 and a beta of 1.15. JPMorgan Chase & Co. has a 1-year low of $131.81 and a 1-year high of $200.94.

JPMorgan Chase & Co. Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Friday, April 5th will be paid a dividend of $1.15 per share. The ex-dividend date is Thursday, April 4th. This represents a $4.60 annualized dividend and a yield of 2.48%. This is a positive change from JPMorgan Chase & Co.’s previous quarterly dividend of $1.05. JPMorgan Chase & Co.’s payout ratio is presently 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.