Pzena Investment Management LLC Cuts Stock Position in JPMorgan Chase & Co. (NYSE:JPM)

Pzena Investment Management LLC trimmed its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 30.3% during the 4th quarter, Holdings Channel.com reports. The fund owned 616,767 shares of the financial services provider’s stock after selling 267,583 shares during the period. Pzena Investment Management LLC’s holdings in JPMorgan Chase & Co. were worth $147,845,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in JPM. Principal Financial Group Inc. grew its position in shares of JPMorgan Chase & Co. by 3.2% during the third quarter. Principal Financial Group Inc. now owns 5,824,289 shares of the financial services provider’s stock valued at $1,228,110,000 after purchasing an additional 182,648 shares in the last quarter. United Bank boosted its stake in JPMorgan Chase & Co. by 2.5% during the third quarter. United Bank now owns 25,354 shares of the financial services provider’s stock valued at $5,346,000 after buying an additional 614 shares during the last quarter. Intellectus Partners LLC grew its holdings in JPMorgan Chase & Co. by 2.6% during the 3rd quarter. Intellectus Partners LLC now owns 19,767 shares of the financial services provider’s stock valued at $4,168,000 after buying an additional 500 shares in the last quarter. CIBC Asset Management Inc increased its stake in JPMorgan Chase & Co. by 6.3% in the 3rd quarter. CIBC Asset Management Inc now owns 498,375 shares of the financial services provider’s stock worth $105,012,000 after acquiring an additional 29,470 shares during the last quarter. Finally, First Business Financial Services Inc. raised its holdings in shares of JPMorgan Chase & Co. by 2.4% during the 3rd quarter. First Business Financial Services Inc. now owns 30,907 shares of the financial services provider’s stock worth $6,517,000 after acquiring an additional 712 shares in the last quarter. Institutional investors own 71.55% of the company’s stock.

JPMorgan Chase & Co. Trading Up 1.8 %

JPM opened at $239.21 on Thursday. The company has a quick ratio of 0.89, a current ratio of 0.88 and a debt-to-equity ratio of 1.24. The stock’s fifty day moving average is $257.92 and its two-hundred day moving average is $239.11. The company has a market capitalization of $668.84 billion, a P/E ratio of 12.12, a PEG ratio of 2.83 and a beta of 1.10. JPMorgan Chase & Co. has a 52 week low of $179.20 and a 52 week high of $280.25.

JPMorgan Chase & Co. (NYSE:JPM) last announced its quarterly earnings results on Wednesday, January 15th. The financial services provider reported $4.81 EPS for the quarter, beating the consensus estimate of $4.03 by $0.78. JPMorgan Chase & Co. had a return on equity of 16.99% and a net margin of 20.96%. The firm had revenue of $42.77 billion for the quarter, compared to analyst estimates of $41.90 billion. During the same quarter last year, the firm posted $3.04 earnings per share. The business’s revenue for the quarter was up 10.9% on a year-over-year basis. Analysts forecast that JPMorgan Chase & Co. will post 18.1 earnings per share for the current year.

JPMorgan Chase & Co. Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Friday, April 4th will be paid a dividend of $1.40 per share. The ex-dividend date of this dividend is Friday, April 4th. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.25. This represents a $5.60 dividend on an annualized basis and a dividend yield of 2.34%. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is currently 25.33%.

Insider Activity at JPMorgan Chase & Co.

In other news, CEO Troy L. Rohrbaugh sold 37,500 shares of JPMorgan Chase & Co. stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $269.84, for a total value of $10,119,000.00. Following the transaction, the chief executive officer now directly owns 158,381 shares in the company, valued at approximately $42,737,529.04. This trade represents a 19.14 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, General Counsel Stacey Friedman sold 3,303 shares of the company’s stock in a transaction on Thursday, January 16th. The stock was sold at an average price of $253.94, for a total value of $838,763.82. Following the sale, the general counsel now owns 47,620 shares of the company’s stock, valued at $12,092,622.80. This trade represents a 6.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 46,326 shares of company stock valued at $12,448,445 over the last ninety days. 0.79% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on JPM. Barclays raised their target price on shares of JPMorgan Chase & Co. from $304.00 to $330.00 and gave the company an “overweight” rating in a report on Thursday, January 16th. Keefe, Bruyette & Woods boosted their target price on shares of JPMorgan Chase & Co. from $257.00 to $264.00 and gave the stock a “market perform” rating in a report on Thursday, January 16th. Baird R W upgraded shares of JPMorgan Chase & Co. from a “strong sell” rating to a “hold” rating in a research report on Friday, March 7th. UBS Group lifted their price target on JPMorgan Chase & Co. from $276.00 to $287.00 and gave the stock a “buy” rating in a research report on Thursday, January 16th. Finally, Wolfe Research raised JPMorgan Chase & Co. from a “peer perform” rating to an “outperform” rating and set a $269.00 price objective for the company in a research note on Friday, January 3rd. Ten equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $252.89.

JPMorgan Chase & Co. Profile

JPMorgan Chase & Co is a financial holding company, which engages in the provision of financial and investment banking services. The firm offers a range of investment banking products and services in all capital markets, including advising on corporate strategy and structure, capital raising in equity and debt markets, risk management, market making in cash securities and derivative instruments, and brokerage and research.