Sterling Investment Counsel LLC Trims Position in JPMorgan Chase & Co. (NYSE:JPM)

Sterling Investment Counsel LLC trimmed its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 55.2% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 7,502 shares of the financial services provider’s stock after selling 9,235 shares during the quarter. JPMorgan Chase & Co. comprises 1.2% of Sterling Investment Counsel LLC’s investment portfolio, making the stock its 15th largest holding. Sterling Investment Counsel LLC’s holdings in JPMorgan Chase & Co. were worth $1,798,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Mizuho Securities Co. Ltd. purchased a new position in JPMorgan Chase & Co. during the third quarter worth about $25,000. Catalyst Capital Advisors LLC purchased a new position in JPMorgan Chase & Co. during the third quarter worth about $27,000. West Financial Advisors LLC purchased a new position in JPMorgan Chase & Co. during the third quarter worth about $37,000. New England Capital Financial Advisors LLC raised its holdings in JPMorgan Chase & Co. by 38.5% during the third quarter. New England Capital Financial Advisors LLC now owns 180 shares of the financial services provider’s stock worth $38,000 after purchasing an additional 50 shares in the last quarter. Finally, Carolina Wealth Advisors LLC raised its holdings in JPMorgan Chase & Co. by 36.0% during the third quarter. Carolina Wealth Advisors LLC now owns 189 shares of the financial services provider’s stock worth $40,000 after purchasing an additional 50 shares in the last quarter. 71.55% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on JPM. Bank of America upped their target price on shares of JPMorgan Chase & Co. from $260.00 to $280.00 and gave the stock a “buy” rating in a research report on Tuesday, January 7th. Barclays upped their target price on shares of JPMorgan Chase & Co. from $304.00 to $330.00 and gave the stock an “overweight” rating in a research report on Thursday, January 16th. Robert W. Baird lowered shares of JPMorgan Chase & Co. from a “neutral” rating to an “underperform” rating and set a $200.00 target price on the stock. in a research report on Thursday, November 7th. Oppenheimer cut shares of JPMorgan Chase & Co. from an “outperform” rating to a “market perform” rating in a research note on Wednesday, November 20th. Finally, Daiwa Capital Markets dropped their price objective on shares of JPMorgan Chase & Co. from $240.00 to $235.00 and set an “overweight” rating for the company in a research note on Thursday, October 10th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $251.78.

JPMorgan Chase & Co. Price Performance

Shares of NYSE:JPM opened at $267.14 on Monday. The company has a quick ratio of 0.89, a current ratio of 0.88 and a debt-to-equity ratio of 1.24. JPMorgan Chase & Co. has a fifty-two week low of $171.43 and a fifty-two week high of $270.82. The firm has a 50-day simple moving average of $247.91 and a 200 day simple moving average of $228.41. The company has a market cap of $752.09 billion, a PE ratio of 13.53, a P/E/G ratio of 2.87 and a beta of 1.11.

JPMorgan Chase & Co. (NYSE:JPM) last posted its earnings results on Wednesday, January 15th. The financial services provider reported $4.81 EPS for the quarter, topping the consensus estimate of $4.03 by $0.78. JPMorgan Chase & Co. had a net margin of 20.96% and a return on equity of 16.99%. The firm had revenue of $42.77 billion during the quarter, compared to analysts’ expectations of $41.90 billion. During the same quarter in the prior year, the firm earned $3.04 EPS. JPMorgan Chase & Co.’s quarterly revenue was up 10.9% on a year-over-year basis. On average, sell-side analysts anticipate that JPMorgan Chase & Co. will post 17.82 EPS for the current year.

JPMorgan Chase & Co. Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Monday, January 6th were paid a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a yield of 1.87%. The ex-dividend date of this dividend was Monday, January 6th. JPMorgan Chase & Co.’s dividend payout ratio is presently 25.33%.

Insider Activity at JPMorgan Chase & Co.

In related news, General Counsel Stacey Friedman sold 3,303 shares of the company’s stock in a transaction that occurred on Thursday, January 16th. The shares were sold at an average price of $253.94, for a total value of $838,763.82. Following the completion of the sale, the general counsel now owns 47,620 shares in the company, valued at approximately $12,092,622.80. This represents a 6.49 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.79% of the company’s stock.

JPMorgan Chase & Co. Company 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.