CIBC Private Wealth Group LLC Sells 69,766 Shares of JPMorgan Chase & Co. (NYSE:JPM)

CIBC Private Wealth Group LLC cut its position in shares of JPMorgan Chase & Co. (NYSE:JPM) by 2.1% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,242,788 shares of the financial services provider’s stock after selling 69,766 shares during the quarter. JPMorgan Chase & Co. accounts for 1.4% of CIBC Private Wealth Group LLC’s portfolio, making the stock its 10th largest position. CIBC Private Wealth Group LLC owned about 0.12% of JPMorgan Chase & Co. worth $788,419,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also made changes to their positions in JPM. Disciplined Investments LLC purchased a new position in JPMorgan Chase & Co. during the 4th quarter worth approximately $217,000. LGT Group Foundation boosted its position in shares of JPMorgan Chase & Co. by 2.8% in the fourth quarter. LGT Group Foundation now owns 525,801 shares of the financial services provider’s stock worth $126,040,000 after buying an additional 14,300 shares during the period. Kinsale Capital Group Inc. grew its holdings in shares of JPMorgan Chase & Co. by 11.1% during the fourth quarter. Kinsale Capital Group Inc. now owns 43,732 shares of the financial services provider’s stock valued at $10,483,000 after buying an additional 4,375 shares in the last quarter. Jag Capital Management LLC raised its position in JPMorgan Chase & Co. by 10.5% during the fourth quarter. Jag Capital Management LLC now owns 1,474 shares of the financial services provider’s stock valued at $353,000 after buying an additional 140 shares during the period. Finally, JPMorgan Chase & Co. lifted its stake in JPMorgan Chase & Co. by 7.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 4,450,775 shares of the financial services provider’s stock worth $938,491,000 after acquiring an additional 319,730 shares in the last quarter. 71.55% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on JPM. Wolfe Research upgraded JPMorgan Chase & Co. from a “peer perform” rating to an “outperform” rating and set a $269.00 target price on the stock in a report on Friday, January 3rd. Evercore ISI cut their target price on shares of JPMorgan Chase & Co. from $273.00 to $265.00 and set an “outperform” rating for the company in a research report on Tuesday. UBS Group boosted their price target on shares of JPMorgan Chase & Co. from $276.00 to $287.00 and gave the company a “buy” rating in a report on Thursday, January 16th. Robert W. Baird upgraded JPMorgan Chase & Co. from an “underperform” rating to a “neutral” rating and increased their price objective for the stock from $215.00 to $220.00 in a report on Friday, March 7th. Finally, Barclays boosted their target price on JPMorgan Chase & Co. from $304.00 to $330.00 and gave the company an “overweight” rating in a research note on Thursday, January 16th. Ten analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $255.06.

JPMorgan Chase & Co. Trading Up 1.0 %

Shares of NYSE:JPM opened at $246.10 on Thursday. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.89 and a current ratio of 0.88. The stock’s 50-day moving average is $256.54 and its 200-day moving average is $241.36. The company has a market cap of $688.12 billion, a P/E ratio of 12.47, a P/E/G ratio of 2.83 and a beta of 1.10. JPMorgan Chase & Co. has a 52-week low of $179.20 and a 52-week high of $280.25.

JPMorgan Chase & Co. (NYSE:JPM) last released its earnings results on Wednesday, January 15th. The financial services provider reported $4.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.03 by $0.78. JPMorgan Chase & Co. had a return on equity of 16.99% and a net margin of 20.96%. The firm had revenue of $42.77 billion for the quarter, compared to analyst estimates of $41.90 billion. During the same quarter last year, the firm posted $3.04 EPS. The company’s revenue was up 10.9% on a year-over-year basis. Equities research analysts predict that JPMorgan Chase & Co. will post 18.1 earnings per share for the current year.

JPMorgan Chase & Co. Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Friday, April 4th will be paid a dividend of $1.40 per share. This is a boost from JPMorgan Chase & Co.’s previous quarterly dividend of $1.25. This represents a $5.60 annualized dividend and a yield of 2.28%. The ex-dividend date is Friday, April 4th. JPMorgan Chase & Co.’s dividend payout ratio is presently 28.37%.

Insider Buying and Selling at JPMorgan Chase & Co.

In related news, COO Jennifer Piepszak sold 4,273 shares of the stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $269.85, for a total value of $1,153,069.05. Following the completion of the sale, the chief operating officer now owns 54,469 shares in the company, valued at approximately $14,698,459.65. This trade represents a 7.27 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Robin Leopold sold 1,250 shares of the business’s stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $270.09, for a total value of $337,612.50. Following the transaction, the insider now owns 50,377 shares in the company, valued at $13,606,323.93. This represents a 2.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 76,848 shares of company stock valued at $19,987,908 in the last ninety days. Company insiders own 0.79% of the company’s stock.

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.