Gabelli Funds LLC Has $78.24 Million Position in JPMorgan Chase & Co. (NYSE:JPM)

Gabelli Funds LLC cut its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 0.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 494,117 shares of the financial services provider’s stock after selling 2,500 shares during the quarter. Gabelli Funds LLC’s holdings in JPMorgan Chase & Co. were worth $78,243,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Fluent Financial LLC lifted its stake in shares of JPMorgan Chase & Co. by 405.2% in the 4th quarter. Fluent Financial LLC now owns 50,950 shares of the financial services provider’s stock valued at $8,068,000 after purchasing an additional 40,864 shares during the period. Renaissance Group LLC lifted its stake in shares of JPMorgan Chase & Co. by 1.9% in the 4th quarter. Renaissance Group LLC now owns 7,660 shares of the financial services provider’s stock valued at $1,213,000 after purchasing an additional 141 shares during the period. Life Planning Partners Inc acquired a new position in shares of JPMorgan Chase & Co. in the 4th quarter valued at about $162,000. Level Four Advisory Services LLC lifted its stake in shares of JPMorgan Chase & Co. by 38.5% in the 4th quarter. Level Four Advisory Services LLC now owns 57,598 shares of the financial services provider’s stock valued at $9,121,000 after purchasing an additional 16,007 shares during the period. Finally, Navis Wealth Advisors LLC lifted its stake in shares of JPMorgan Chase & Co. by 321.5% in the 4th quarter. Navis Wealth Advisors LLC now owns 3,110 shares of the financial services provider’s stock valued at $492,000 after purchasing an additional 4,514 shares during the period. 70.35% of the stock is currently owned by hedge funds and other institutional investors.

A number of research firms recently weighed in on JPM. Credit Suisse Group set a $160.00 price target on JPMorgan Chase & Co. in a research note on Wednesday. Barclays set a $200.00 price target on JPMorgan Chase & Co. in a research note on Tuesday. Wells Fargo & Company dropped their price target on JPMorgan Chase & Co. from $180.00 to $150.00 and set an “equal weight” rating on the stock in a research note on Monday, April 4th. Oppenheimer raised JPMorgan Chase & Co. from a “market perform” rating to an “outperform” rating and set a $167.00 price objective for the company in a report on Tuesday, May 3rd. Finally, BMO Capital Markets decreased their price objective on JPMorgan Chase & Co. from $154.00 to $150.00 and set a “hold” rating for the company in a report on Thursday, April 14th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $161.17.

In other JPMorgan Chase & Co. news, insider Ashley Bacon sold 21,012 shares of JPMorgan Chase & Co. stock in a transaction that occurred on Tuesday, April 19th. The stock was sold at an average price of $130.04, for a total value of $2,732,400.48. Following the transaction, the insider now directly owns 178,588 shares of the company’s stock, valued at approximately $23,223,583.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Jennifer Piepszak sold 4,668 shares of JPMorgan Chase & Co. stock in a transaction that occurred on Thursday, April 14th. The stock was sold at an average price of $126.19, for a total value of $589,054.92. Following the completion of the transaction, the chief executive officer now directly owns 11,135 shares in the company, valued at $1,405,125.65. The disclosure for this sale can be found here. Company insiders own 0.79% of the company’s stock.

Shares of JPM stock traded down $0.97 on Friday, hitting $117.34. 13,034,725 shares of the stock were exchanged, compared to its average volume of 16,187,249. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 1.16. The firm has a market capitalization of $344.63 billion, a PE ratio of 8.70, a P/E/G ratio of 2.17 and a beta of 1.12. JPMorgan Chase & Co. has a one year low of $115.02 and a one year high of $172.96. The firm’s 50 day moving average is $129.45 and its two-hundred day moving average is $146.39.

JPMorgan Chase & Co. (NYSE:JPMGet Rating) last issued its earnings results on Wednesday, April 13th. The financial services provider reported $2.63 EPS for the quarter, missing the consensus estimate of $2.73 by ($0.10). The company had revenue of $30.72 billion during the quarter, compared to the consensus estimate of $30.53 billion. JPMorgan Chase & Co. had a return on equity of 16.58% and a net margin of 33.61%. The firm’s revenue for the quarter was down 4.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $4.50 EPS. On average, sell-side analysts expect that JPMorgan Chase & Co. will post 11.04 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, July 31st. Investors of record on Wednesday, July 6th will be issued a dividend of $1.00 per share. The ex-dividend date is Tuesday, July 5th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 3.41%. JPMorgan Chase & Co.’s dividend payout ratio is 29.67%.

About JPMorgan Chase & Co. (Get Rating)

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 s deposit, investment and lending products, payments, and services to consumers; lending, deposit, and cash management and payment solutions to small businesses; mortgage origination and servicing activities; residential mortgages and home equity loans; and credit card, auto loan, and leasing services.

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

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