Summit X LLC Sells 426 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Summit X LLC reduced its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 2.9% during the third quarter, Holdings Channel reports. The fund owned 14,332 shares of the financial services provider’s stock after selling 426 shares during the period. Summit X LLC’s holdings in JPMorgan Chase & Co. were worth $1,502,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Karpas Strategies LLC lifted its position in JPMorgan Chase & Co. by 0.4% during the third quarter. Karpas Strategies LLC now owns 21,537 shares of the financial services provider’s stock valued at $2,251,000 after buying an additional 80 shares during the period. Strategic Family Wealth Counselors L.L.C. lifted its position in JPMorgan Chase & Co. by 3.3% during the second quarter. Strategic Family Wealth Counselors L.L.C. now owns 2,685 shares of the financial services provider’s stock valued at $302,000 after buying an additional 85 shares during the period. Keb Asset Management LLC lifted its position in JPMorgan Chase & Co. by 2.5% during the third quarter. Keb Asset Management LLC now owns 3,485 shares of the financial services provider’s stock valued at $364,000 after buying an additional 85 shares during the period. Royal Capital Wealth Management LLC lifted its position in JPMorgan Chase & Co. by 0.4% during the second quarter. Royal Capital Wealth Management LLC now owns 19,759 shares of the financial services provider’s stock valued at $2,225,000 after buying an additional 87 shares during the period. Finally, Altus Wealth Group LLC lifted its position in JPMorgan Chase & Co. by 1.4% during the second quarter. Altus Wealth Group LLC now owns 6,281 shares of the financial services provider’s stock valued at $1,028,000 after buying an additional 88 shares during the period. 67.89% of the stock is currently owned by institutional investors.

Insider Buying and Selling at JPMorgan Chase & Co.

In other JPMorgan Chase & Co. news, General Counsel Stacey Friedman sold 23,148 shares of the business’s stock in a transaction dated Tuesday, January 17th. The stock was sold at an average price of $140.31, for a total transaction of $3,247,895.88. Following the completion of the sale, the general counsel now directly owns 48,311 shares in the company, valued at approximately $6,778,516.41. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other JPMorgan Chase & Co. news, General Counsel Stacey Friedman sold 23,148 shares of the business’s stock in a transaction dated Tuesday, January 17th. The stock was sold at an average price of $140.31, for a total transaction of $3,247,895.88. Following the completion of the sale, the general counsel now directly owns 48,311 shares in the company, valued at approximately $6,778,516.41. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Robin Leopold sold 2,000 shares of the business’s stock in a transaction dated Wednesday, October 26th. The shares were sold at an average price of $125.07, for a total value of $250,140.00. Following the sale, the insider now owns 19,031 shares of the company’s stock, valued at $2,380,207.17. The disclosure for this sale can be found here. Insiders sold a total of 46,336 shares of company stock worth $6,372,156 in the last three months. 0.79% of the stock is currently owned by company insiders.

JPMorgan Chase & Co. Price Performance

NYSE JPM opened at $135.08 on Monday. JPMorgan Chase & Co. has a one year low of $101.28 and a one year high of $159.03. The stock has a 50-day moving average of $134.60 and a 200 day moving average of $122.80. The company has a market capitalization of $396.22 billion, a price-to-earnings ratio of 11.18, a PEG ratio of 2.10 and a beta of 1.13. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.84 and a current ratio of 0.84.

JPMorgan Chase & Co. (NYSE:JPMGet Rating) last released its quarterly earnings data on Friday, January 13th. The financial services provider reported $3.57 EPS for the quarter, topping the consensus estimate of $3.11 by $0.46. JPMorgan Chase & Co. had a return on equity of 14.68% and a net margin of 24.34%. The company had revenue of $34.55 billion during the quarter, compared to the consensus estimate of $34.23 billion. During the same period last year, the company earned $3.33 EPS. JPMorgan Chase & Co.’s revenue for the quarter was up 18.1% on a year-over-year basis. On average, sell-side analysts forecast that JPMorgan Chase & Co. will post 12.88 EPS for the current year.

JPMorgan Chase & Co. Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 31st. Shareholders of record on Friday, January 6th will be paid a dividend of $1.00 per share. The ex-dividend date is Thursday, January 5th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.96%. JPMorgan Chase & Co.’s dividend payout ratio is currently 33.11%.

Wall Street Analyst Weigh In

JPM has been the subject of several recent research reports. Morgan Stanley raised their price objective on JPMorgan Chase & Co. from $153.00 to $167.00 and gave the company an “overweight” rating in a research report on Tuesday, January 17th. Citigroup raised their price objective on JPMorgan Chase & Co. from $150.00 to $165.00 in a research report on Tuesday, January 17th. Oppenheimer raised their price target on JPMorgan Chase & Co. from $169.00 to $177.00 and gave the company an “outperform” rating in a report on Tuesday, January 17th. Barclays raised their price target on JPMorgan Chase & Co. from $162.00 to $189.00 and gave the company an “overweight” rating in a report on Tuesday, January 3rd. Finally, Deutsche Bank Aktiengesellschaft downgraded JPMorgan Chase & Co. from a “buy” rating to a “hold” rating and reduced their price target for the company from $155.00 to $145.00 in a report on Friday, January 6th. Seven research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, JPMorgan Chase & Co. presently has a consensus rating of “Moderate Buy” and a consensus price target of $147.89.

About JPMorgan Chase & Co.

(Get Rating)

JPMorgan Chase & Co is a financial holding company. It provides 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.

Further Reading

Want to see what other hedge funds are holding JPM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for JPMorgan Chase & Co. (NYSE:JPMGet Rating).

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

Receive News & Ratings for JPMorgan Chase & Co. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for JPMorgan Chase & Co. and related companies with MarketBeat.com's FREE daily email newsletter.