Marks Group Wealth Management Inc Reduces Stock Position in JPMorgan Chase & Co. (NYSE:JPM)

Marks Group Wealth Management Inc lessened its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 6.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 23,417 shares of the financial services provider’s stock after selling 1,674 shares during the quarter. Marks Group Wealth Management Inc’s holdings in JPMorgan Chase & Co. were worth $3,983,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in JPM. Curbstone Financial Management Corp lifted its holdings in shares of JPMorgan Chase & Co. by 0.3% in the fourth quarter. Curbstone Financial Management Corp now owns 23,930 shares of the financial services provider’s stock worth $4,070,000 after buying an additional 60 shares in the last quarter. Grey Street Capital LLC boosted its holdings in shares of JPMorgan Chase & Co. by 0.9% during the 4th quarter. Grey Street Capital LLC now owns 6,994 shares of the financial services provider’s stock valued at $1,190,000 after purchasing an additional 60 shares during the last quarter. Financial Management Network Inc. boosted its holdings in shares of JPMorgan Chase & Co. by 0.8% during the 4th quarter. Financial Management Network Inc. now owns 7,523 shares of the financial services provider’s stock valued at $1,296,000 after purchasing an additional 61 shares during the last quarter. Sendero Wealth Management LLC boosted its holdings in shares of JPMorgan Chase & Co. by 1.1% during the 4th quarter. Sendero Wealth Management LLC now owns 5,811 shares of the financial services provider’s stock valued at $988,000 after purchasing an additional 62 shares during the last quarter. Finally, Raleigh Capital Management Inc. lifted its holdings in shares of JPMorgan Chase & Co. by 0.8% in the 3rd quarter. Raleigh Capital Management Inc. now owns 8,151 shares of the financial services provider’s stock valued at $1,182,000 after acquiring an additional 64 shares during the last quarter. Hedge funds and other institutional investors own 71.55% of the company’s stock.

JPMorgan Chase & Co. Trading Down 0.1 %

NYSE:JPM opened at $193.30 on Tuesday. JPMorgan Chase & Co. has a 12 month low of $131.81 and a 12 month high of $200.94. The firm has a fifty day simple moving average of $190.64 and a 200-day simple moving average of $171.25. The company has a current ratio of 0.92, a quick ratio of 0.91 and a debt-to-equity ratio of 1.29. The company has a market capitalization of $555.17 billion, a P/E ratio of 11.67, a PEG ratio of 2.43 and a beta of 1.15.

JPMorgan Chase & Co. Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Friday, April 5th will be paid a dividend of $1.15 per share. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.05. This represents a $4.60 annualized dividend and a dividend yield of 2.38%. The ex-dividend date is Thursday, April 4th. JPMorgan Chase & Co.’s payout ratio is presently 27.78%.

Insider Transactions at JPMorgan Chase & Co.

In other news, CEO James Dimon sold 821,778 shares of JPMorgan Chase & Co. stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $182.73, for a total transaction of $150,163,493.94. Following the completion of the sale, the chief executive officer now directly owns 595,316 shares in the company, valued at $108,782,092.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, CEO James Dimon sold 821,778 shares of the firm’s stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $182.73, for a total transaction of $150,163,493.94. Following the completion of the transaction, the chief executive officer now owns 595,316 shares of the company’s stock, valued at $108,782,092.68. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Vice Chairman Peter Scher sold 1,810 shares of the firm’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $178.96, for a total transaction of $323,917.60. Following 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 ninety days, insiders sold 1,020,696 shares of company stock worth $186,794,151. Company insiders own 0.79% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $185.00 price target on shares of JPMorgan Chase & Co. in a report on Wednesday, March 20th. BMO Capital Markets reduced their target price on shares of JPMorgan Chase & Co. from $196.00 to $195.00 and set a “market perform” rating on the stock in a research report on Monday, April 15th. Barclays raised their target price on shares of JPMorgan Chase & Co. from $186.00 to $212.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 2nd. Oppenheimer reduced their target price on shares of JPMorgan Chase & Co. from $219.00 to $217.00 and set an “outperform” rating on the stock in a research report on Monday, April 15th. Finally, Bank of America raised their target price on shares of JPMorgan Chase & Co. from $177.00 to $188.00 and gave the stock a “buy” rating in a research report on Thursday, January 4th. Eight investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $192.05.

JPMorgan Chase & Co. Company Profile

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.