Smith Asset Management Group LP lowered its position in shares of JPMorgan Chase & Co. (NYSE:JPM) by 9.3% in the third quarter, Holdings Channel reports. The institutional investor owned 263,541 shares of the financial services provider’s stock after selling 27,005 shares during the quarter. Smith Asset Management Group LP’s holdings in JPMorgan Chase & Co. were worth $25,181,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in JPM. Gillespie Robinson & Grimm Inc. boosted its position in shares of JPMorgan Chase & Co. by 28.4% during the 2nd quarter. Gillespie Robinson & Grimm Inc. now owns 123,237 shares of the financial services provider’s stock worth $11,264,000 after purchasing an additional 27,280 shares during the period. Private Trust Co. NA boosted its position in shares of JPMorgan Chase & Co. by 6.0% during the 2nd quarter. Private Trust Co. NA now owns 74,074 shares of the financial services provider’s stock worth $6,770,000 after purchasing an additional 4,167 shares during the period. Capital Investment Advisors LLC boosted its position in shares of JPMorgan Chase & Co. by 1.3% during the 2nd quarter. Capital Investment Advisors LLC now owns 71,927 shares of the financial services provider’s stock worth $6,574,000 after purchasing an additional 937 shares during the period. Covenant Asset Management LLC boosted its position in shares of JPMorgan Chase & Co. by 2.5% during the 2nd quarter. Covenant Asset Management LLC now owns 11,428 shares of the financial services provider’s stock worth $1,045,000 after purchasing an additional 275 shares during the period. Finally, Johanson Financial Advisors Inc. boosted its position in shares of JPMorgan Chase & Co. by 4.9% during the 2nd quarter. Johanson Financial Advisors Inc. now owns 17,825 shares of the financial services provider’s stock worth $1,622,000 after purchasing an additional 833 shares during the period. Institutional investors and hedge funds own 73.80% of the company’s stock.

A number of research firms recently weighed in on JPM. Jefferies Group set a $111.00 price objective on shares of JPMorgan Chase & Co. and gave the stock a “buy” rating in a research report on Friday, October 13th. BMO Capital Markets increased their price objective on shares of JPMorgan Chase & Co. from $86.00 to $91.00 and gave the stock a “market perform” rating in a research report on Friday, October 13th. Buckingham Research raised shares of JPMorgan Chase & Co. from a “neutral” rating to a “buy” rating in a research report on Thursday, December 21st. Nomura set a $115.00 price objective on shares of JPMorgan Chase & Co. and gave the stock a “neutral” rating in a research report on Friday, January 12th. Finally, DZ Bank raised shares of JPMorgan Chase & Co. from a “sell” rating to a “hold” rating in a research report on Wednesday, January 17th. Three analysts have rated the stock with a sell rating, eleven have issued a hold rating and fifteen have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $105.81.

In other news, EVP Peter Scher sold 17,057 shares of JPMorgan Chase & Co. stock in a transaction on Tuesday, January 16th. The shares were sold at an average price of $112.20, for a total transaction of $1,913,795.40. Following the completion of the sale, the executive vice president now directly owns 15,310 shares of the company’s stock, valued at approximately $1,717,782. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, General Counsel Stacey Friedman sold 2,099 shares of JPMorgan Chase & Co. stock in a transaction on Thursday, October 26th. The stock was sold at an average price of $101.96, for a total transaction of $214,014.04. Following the sale, the general counsel now directly owns 15,279 shares of the company’s stock, valued at $1,557,846.84. The disclosure for this sale can be found here. Insiders sold a total of 154,146 shares of company stock valued at $17,312,129 in the last three months. 0.88% of the stock is currently owned by corporate insiders.

JPMorgan Chase & Co. (JPM) opened at $113.01 on Monday. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.01 and a quick ratio of 1.03. JPMorgan Chase & Co. has a 1 year low of $81.64 and a 1 year high of $114.34. The company has a market cap of $392,110.00, a P/E ratio of 16.33, a price-to-earnings-growth ratio of 1.93 and a beta of 1.22.

JPMorgan Chase & Co. (NYSE:JPM) last issued its quarterly earnings results on Friday, January 12th. The financial services provider reported $1.76 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.69 by $0.07. JPMorgan Chase & Co. had a net margin of 21.46% and a return on equity of 11.63%. The company had revenue of $24.15 billion during the quarter, compared to analysts’ expectations of $24.87 billion. During the same quarter last year, the company posted $1.71 EPS. The firm’s revenue was up 3.3% compared to the same quarter last year. equities research analysts forecast that JPMorgan Chase & Co. will post 8.78 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 31st. Shareholders of record on Friday, January 5th will be given a $0.56 dividend. The ex-dividend date is Thursday, January 4th. This represents a $2.24 annualized dividend and a yield of 1.98%. JPMorgan Chase & Co.’s dividend payout ratio is presently 32.37%.

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JPMorgan Chase & Co. Company Profile

JPMorgan Chase & Co is a financial holding company. The Company is engaged in investment banking, financial services. It operates in four segments, as well as a Corporate segment. Its segments are Consumer & Community Banking, Corporate & Investment Bank, Commercial Banking and Asset Management. The Consumer & Community Banking segment offers services to consumers and businesses through bank branches, automatic teller machines (ATMs), online, mobile and telephone banking.

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

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