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

CIBC Private Wealth Group LLC cut its stake in JPMorgan Chase & Co. (NYSE:JPM) by 2.1% in the fourth quarter, according to the company in its most recent filing 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 period. JPMorgan Chase & Co. comprises approximately 1.4% of CIBC Private Wealth Group LLC’s holdings, making the stock its 10th largest holding. CIBC Private Wealth Group LLC’s holdings in JPMorgan Chase & Co. were worth $788,419,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Joseph Group Capital Management grew its holdings in shares of JPMorgan Chase & Co. by 10.2% in the 4th quarter. Joseph Group Capital Management now owns 20,011 shares of the financial services provider’s stock worth $4,797,000 after purchasing an additional 1,858 shares during the last quarter. RWA Wealth Partners LLC boosted its position in JPMorgan Chase & Co. by 0.8% in the fourth quarter. RWA Wealth Partners LLC now owns 437,097 shares of the financial services provider’s stock valued at $104,777,000 after buying an additional 3,501 shares in the last quarter. Summit Securities Group LLC grew its stake in JPMorgan Chase & Co. by 8.7% during the fourth quarter. Summit Securities Group LLC now owns 2,500 shares of the financial services provider’s stock worth $599,000 after buying an additional 200 shares during the last quarter. Schroder Investment Management Group increased its holdings in shares of JPMorgan Chase & Co. by 6.8% during the fourth quarter. Schroder Investment Management Group now owns 6,138,808 shares of the financial services provider’s stock worth $1,469,140,000 after buying an additional 390,413 shares in the last quarter. Finally, BlueChip Wealth Advisors LLC raised its stake in shares of JPMorgan Chase & Co. by 7.9% in the fourth quarter. BlueChip Wealth Advisors LLC now owns 2,225 shares of the financial services provider’s stock valued at $533,000 after acquiring an additional 163 shares during the last quarter. Institutional investors own 71.55% of the company’s stock.

Insider Buying and Selling at JPMorgan Chase & Co.

In related news, insider Robin Leopold sold 1,250 shares of the business’s stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $270.09, for a total value of $337,612.50. Following the completion of the transaction, the insider now directly owns 50,377 shares in the company, valued at approximately $13,606,323.93. The trade was a 2.42 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Troy L. Rohrbaugh sold 25,000 shares of the firm’s stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $247.02, for a total transaction of $6,175,500.00. Following the sale, the chief executive officer now owns 133,381 shares in the company, valued at $32,947,774.62. This trade represents a 15.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 76,848 shares of company stock valued at $19,987,908. Company insiders own 0.79% of the company’s stock.

Wall Street Analyst Weigh In

JPM has been the topic of a number of research analyst reports. Keefe, Bruyette & Woods increased their price target on JPMorgan Chase & Co. from $257.00 to $264.00 and gave the stock a “market perform” rating in a research report on Thursday, January 16th. Robert W. Baird upgraded JPMorgan Chase & Co. from an “underperform” rating to a “neutral” rating and increased their target price for the stock from $215.00 to $220.00 in a report on Friday, March 7th. UBS Group lifted their price target on JPMorgan Chase & Co. from $276.00 to $287.00 and gave the company a “buy” rating in a report on Thursday, January 16th. Wolfe Research raised shares of JPMorgan Chase & Co. from a “peer perform” rating to an “outperform” rating and set a $269.00 price objective on the stock in a report on Friday, January 3rd. Finally, Bank of America lowered their price objective on shares of JPMorgan Chase & Co. from $285.00 to $284.00 and set a “buy” rating for the company in a research report on Wednesday. Ten equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, JPMorgan Chase & Co. currently has an average rating of “Moderate Buy” and a consensus target price of $255.06.

JPMorgan Chase & Co. Stock Performance

Shares of JPM stock opened at $246.10 on Thursday. The stock has a market cap of $688.12 billion, a PE ratio of 12.47, a price-to-earnings-growth ratio of 2.83 and a beta of 1.10. The stock has a 50-day moving average of $256.54 and a 200-day moving average of $241.36. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.88 and a quick ratio of 0.89. JPMorgan Chase & Co. has a one year low of $179.20 and a one year high of $280.25.

JPMorgan Chase & Co. (NYSE:JPM) last posted its earnings results on Wednesday, January 15th. The financial services provider reported $4.81 earnings per share 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 company had revenue of $42.77 billion for the quarter, compared to analyst estimates of $41.90 billion. During the same period last year, the business posted $3.04 earnings per share. The business’s revenue for the quarter was up 10.9% compared to the same quarter last year. As a group, sell-side analysts expect that JPMorgan Chase & Co. will post 18.1 earnings per share for the current year.

JPMorgan Chase & Co. Increases Dividend

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

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.