Korea Investment CORP Reduces Holdings in JPMorgan Chase & Co. (NYSE:JPM)

Korea Investment CORP cut its position in JPMorgan Chase & Co. (NYSE:JPM) by 2.6% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,115,891 shares of the financial services provider’s stock after selling 56,829 shares during the quarter. JPMorgan Chase & Co. makes up approximately 1.2% of Korea Investment CORP’s investment portfolio, making the stock its 10th largest holding. Korea Investment CORP owned about 0.08% of JPMorgan Chase & Co. worth $507,200,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of JPM. Foundation Wealth Management LLC PA acquired a new stake in shares of JPMorgan Chase & Co. in the 4th quarter worth $392,000. Tyler Stone Wealth Management raised its stake in JPMorgan Chase & Co. by 14.0% in the fourth quarter. Tyler Stone Wealth Management now owns 11,460 shares of the financial services provider’s stock valued at $2,747,000 after buying an additional 1,406 shares during the last quarter. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund acquired a new stake in JPMorgan Chase & Co. in the fourth quarter worth about $1,390,000. Graney & King LLC purchased a new stake in shares of JPMorgan Chase & Co. during the fourth quarter worth about $185,000. Finally, Sellwood Investment Partners LLC acquired a new position in shares of JPMorgan Chase & Co. during the fourth quarter valued at about $34,000. 71.55% of the stock is owned by hedge funds and other institutional investors.

JPMorgan Chase & Co. Trading Up 1.2 %

Shares of JPMorgan Chase & Co. stock opened at $245.66 on Tuesday. The firm has a 50-day simple moving average of $257.27 and a two-hundred day simple moving average of $241.05. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.89 and a current ratio of 0.88. JPMorgan Chase & Co. has a fifty-two week low of $179.20 and a fifty-two week high of $280.25. The company has a market cap of $686.89 billion, a P/E ratio of 12.44, a price-to-earnings-growth ratio of 2.83 and a beta of 1.10.

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

JPMorgan Chase & Co. Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Friday, April 4th will be given a dividend of $1.40 per share. This is a positive change from JPMorgan Chase & Co.’s previous quarterly dividend of $1.25. The ex-dividend date of this dividend is Friday, April 4th. This represents a $5.60 dividend on an annualized basis and a dividend yield of 2.28%. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is 28.37%.

Insider Activity at JPMorgan Chase & Co.

In other JPMorgan Chase & Co. news, CEO Troy L. Rohrbaugh sold 37,500 shares of the stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $269.84, for a total transaction of $10,119,000.00. Following the transaction, the chief executive officer now directly owns 158,381 shares of the company’s stock, valued at $42,737,529.04. This trade represents a 19.14 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Jennifer Piepszak sold 4,272 shares of the business’s stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $247.03, for a total transaction of $1,055,312.16. Following the sale, the chief operating officer now directly owns 50,197 shares of the company’s stock, valued at $12,400,164.91. This represents a 7.84 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 76,848 shares of company stock valued at $19,987,908. 0.79% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts recently commented on the stock. UBS Group lifted their target price on shares of JPMorgan Chase & Co. from $276.00 to $287.00 and gave the stock a “buy” rating in a research note on Thursday, January 16th. Wolfe Research raised shares of JPMorgan Chase & Co. from a “peer perform” rating to an “outperform” rating and set a $269.00 price objective on the stock in a report on Friday, January 3rd. Baird R W upgraded JPMorgan Chase & Co. from a “strong sell” rating to a “hold” rating in a research note on Friday, March 7th. Keefe, Bruyette & Woods lifted their price target on JPMorgan Chase & Co. from $257.00 to $264.00 and gave the stock a “market perform” rating in a research report on Thursday, January 16th. Finally, Robert W. Baird raised JPMorgan Chase & Co. from an “underperform” rating to a “neutral” rating and increased their price objective for the company from $215.00 to $220.00 in a report on Friday, March 7th. Ten equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $252.89.

About JPMorgan Chase & Co.

JPMorgan Chase & Co is a financial holding company, which engages in the provision of financial and investment banking services. It focuses on investment banking, financial services for consumers and small businesses, commercial banking, financial transaction processing, and asset management. It operates through the following segments: Consumer and Community Banking (CCB), Commercial and Investment Bank (CIB), Asset and Wealth Management (AWM), and Corporate.