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

Pzena Investment Management LLC cut its stake in JPMorgan Chase & Co. (NYSE:JPMFree Report) by 0.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,768,274 shares of the financial services provider’s stock after selling 14,331 shares during the quarter. JPMorgan Chase & Co. comprises about 1.1% of Pzena Investment Management LLC’s investment portfolio, making the stock its 28th biggest position. Pzena Investment Management LLC owned 0.06% of JPMorgan Chase & Co. worth $300,783,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. Cutter & CO Brokerage Inc. increased its position in shares of JPMorgan Chase & Co. by 54.3% during the third quarter. Cutter & CO Brokerage Inc. now owns 5,454 shares of the financial services provider’s stock worth $791,000 after acquiring an additional 1,919 shares during the last quarter. Annex Advisory Services LLC increased its position in shares of JPMorgan Chase & Co. by 17.5% during the third quarter. Annex Advisory Services LLC now owns 91,474 shares of the financial services provider’s stock worth $13,266,000 after acquiring an additional 13,639 shares during the last quarter. 180 Wealth Advisors LLC increased its position in shares of JPMorgan Chase & Co. by 6.5% during the third quarter. 180 Wealth Advisors LLC now owns 19,684 shares of the financial services provider’s stock worth $2,855,000 after acquiring an additional 1,210 shares during the last quarter. TBH Global Asset Management LLC increased its position in shares of JPMorgan Chase & Co. by 3.9% during the third quarter. TBH Global Asset Management LLC now owns 11,677 shares of the financial services provider’s stock worth $1,693,000 after acquiring an additional 441 shares during the last quarter. Finally, Genus Capital Management Inc. increased its position in shares of JPMorgan Chase & Co. by 17.9% during the third quarter. Genus Capital Management Inc. now owns 82,515 shares of the financial services provider’s stock worth $11,966,000 after acquiring an additional 12,520 shares during the last quarter. 71.55% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. Robert W. Baird boosted their price objective on JPMorgan Chase & Co. from $175.00 to $185.00 and gave the company a “neutral” rating in a report on Tuesday. BMO Capital Markets lowered their price objective on JPMorgan Chase & Co. from $196.00 to $195.00 and set a “market perform” rating for the company in a report on Monday, April 15th. Oppenheimer lowered their price objective on JPMorgan Chase & Co. from $219.00 to $217.00 and set an “outperform” rating for the company in a report on Monday, April 15th. UBS Group boosted their price objective on JPMorgan Chase & Co. from $219.00 to $224.00 and gave the company a “buy” rating in a report on Tuesday. Finally, Morgan Stanley lowered their price objective on JPMorgan Chase & Co. from $216.00 to $214.00 and set an “overweight” rating for the company in a report on Tuesday. Nine analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $194.10.

Check Out Our Latest Research Report on JPM

Insider Transactions at JPMorgan Chase & Co.

In other news, CEO James Dimon sold 178,222 shares of the business’s stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $184.18, for a total transaction of $32,824,927.96. Following the completion of the transaction, the chief executive officer now directly owns 264,461 shares in the company, valued at $48,708,426.98. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, insider Ashley Bacon sold 5,086 shares of the business’s stock in a transaction that occurred on Wednesday, May 8th. The stock was sold at an average price of $193.64, for a total transaction of $984,853.04. Following the sale, the insider now owns 217,351 shares of the company’s stock, valued at $42,087,847.64. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO James Dimon sold 178,222 shares of the business’s stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $184.18, for a total value of $32,824,927.96. Following the sale, the chief executive officer now directly owns 264,461 shares in the company, valued at approximately $48,708,426.98. The disclosure for this sale can be found here. Over the last three months, insiders sold 249,399 shares of company stock worth $46,713,667. Company insiders own 0.79% of the company’s stock.

JPMorgan Chase & Co. Stock Performance

Shares of NYSE JPM traded up $2.62 during midday trading on Friday, hitting $199.54. 1,329,411 shares of the company’s stock were exchanged, compared to its average volume of 9,235,007. 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’s 50 day moving average price is $194.50 and its 200-day moving average price is $177.66. The firm has a market cap of $573.01 billion, a P/E ratio of 11.89, a PEG ratio of 2.68 and a beta of 1.13. JPMorgan Chase & Co. has a twelve month low of $134.40 and a twelve month high of $205.88.

JPMorgan Chase & Co. (NYSE:JPMGet Free Report) last issued its quarterly earnings data on Friday, April 12th. The financial services provider reported $4.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.18 by $0.45. The business had revenue of $41.93 billion during the quarter, compared to the consensus estimate of $40.90 billion. JPMorgan Chase & Co. had a return on equity of 17.79% and a net margin of 20.05%. Equities research analysts anticipate that JPMorgan Chase & Co. will post 16.31 EPS for the current year.

JPMorgan Chase & Co. Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Friday, July 5th will be given a dividend of $1.15 per share. The ex-dividend date of this dividend is Friday, July 5th. This represents a $4.60 annualized dividend and a dividend yield of 2.31%. JPMorgan Chase & Co.’s dividend payout ratio is presently 27.78%.

About JPMorgan Chase & Co.

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for JPMorgan Chase & Co. (NYSE:JPM)

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