Washington Capital Management Inc. Cuts Stake in JPMorgan Chase & Co. (NYSE:JPM)

Washington Capital Management Inc. lessened its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 7.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 12,845 shares of the financial services provider’s stock after selling 980 shares during the period. JPMorgan Chase & Co. accounts for about 1.9% of Washington Capital Management Inc.’s investment portfolio, making the stock its 6th biggest holding. Washington Capital Management Inc.’s holdings in JPMorgan Chase & Co. were worth $2,185,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Macroview Investment Management LLC raised its holdings in JPMorgan Chase & Co. by 7,833.3% during the third quarter. Macroview Investment Management LLC now owns 238 shares of the financial services provider’s stock worth $34,000 after purchasing an additional 235 shares in the last quarter. Briaud Financial Planning Inc bought a new stake in JPMorgan Chase & Co. during the third quarter worth approximately $40,000. FSC Wealth Advisors LLC raised its holdings in JPMorgan Chase & Co. by 290.9% during the third quarter. FSC Wealth Advisors LLC now owns 387 shares of the financial services provider’s stock worth $56,000 after purchasing an additional 288 shares in the last quarter. Legacy Financial Group LLC bought a new stake in JPMorgan Chase & Co. during the third quarter worth approximately $58,000. Finally, Robbins Farley raised its holdings in JPMorgan Chase & Co. by 29.5% during the third quarter. Robbins Farley now owns 421 shares of the financial services provider’s stock worth $61,000 after purchasing an additional 96 shares in the last quarter. Institutional investors own 71.55% of the company’s stock.

JPMorgan Chase & Co. Trading Down 0.7 %

NYSE JPM opened at $198.95 on Tuesday. JPMorgan Chase & Co. has a twelve month low of $126.22 and a twelve month high of $200.94. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.91 and a current ratio of 0.91. The stock has a market cap of $573.05 billion, a price-to-earnings ratio of 12.27, a PEG ratio of 2.54 and a beta of 1.15. The firm’s 50 day moving average price is $183.48 and its two-hundred day moving average price is $164.51.

JPMorgan Chase & Co. (NYSE:JPM) last posted its quarterly earnings results on Friday, January 12th. The financial services provider reported $3.04 EPS for the quarter, missing the consensus estimate of $3.73 by ($0.69). JPMorgan Chase & Co. had a net margin of 20.70% and a return on equity of 17.80%. The company had revenue of $38.57 billion for the quarter, compared to analysts’ expectations of $39.73 billion. During the same quarter in the prior year, the firm earned $3.57 earnings per share. The company’s revenue was up 11.7% on a year-over-year basis. Equities analysts anticipate that JPMorgan Chase & Co. will post 15.75 EPS for the current year.

JPMorgan Chase & Co. Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Friday, April 5th will be issued a dividend of $1.15 per share. This is a boost from JPMorgan Chase & Co.’s previous quarterly dividend of $1.05. This represents a $4.60 annualized dividend and a dividend yield of 2.31%. The ex-dividend date is Thursday, April 4th. JPMorgan Chase & Co.’s payout ratio is currently 25.89%.

Insider Activity

In other news, insider Lori A. Beer sold 3,920 shares of the business’s stock in a transaction on Monday, March 25th. The shares were sold at an average price of $195.36, for a total transaction of $765,811.20. Following the transaction, the insider now directly owns 64,783 shares in the company, valued at approximately $12,656,006.88. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, insider Lori A. Beer sold 3,920 shares of JPMorgan Chase & Co. stock in a transaction on Monday, March 25th. The shares were sold at an average price of $195.36, for a total value of $765,811.20. Following the completion of the sale, the insider now owns 64,783 shares of the company’s stock, valued at approximately $12,656,006.88. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Vice Chairman Peter Scher sold 1,812 shares of JPMorgan Chase & Co. stock in a transaction on Tuesday, January 16th. The shares were sold at an average price of $166.65, for a total transaction of $301,969.80. Following the completion of the sale, the insider now directly owns 46,766 shares of the company’s stock, valued at approximately $7,793,553.90. The disclosure for this sale can be found here. Insiders have sold a total of 849,303 shares of company stock worth $155,107,447 in the last ninety days. Corporate insiders own 0.79% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. Wells Fargo & Company boosted their target price on JPMorgan Chase & Co. from $200.00 to $220.00 and gave the stock an “overweight” rating in a report on Wednesday, March 20th. Barclays boosted their target price on JPMorgan Chase & Co. from $186.00 to $212.00 and gave the stock an “overweight” rating in a report on Tuesday, January 2nd. Bank of America upped their price target on JPMorgan Chase & Co. from $177.00 to $188.00 and gave the company a “buy” rating in a report on Thursday, January 4th. Deutsche Bank Aktiengesellschaft raised JPMorgan Chase & Co. from a “hold” rating to a “buy” rating and upped their price target for the company from $140.00 to $190.00 in a report on Tuesday, January 9th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $185.00 price target on shares of JPMorgan Chase & Co. in a report on Wednesday, March 20th. Eight investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $181.63.

JPMorgan Chase & Co. Profile

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 deposit, investment and lending products, cash management, and payments and services; mortgage origination and servicing activities; residential mortgages and home equity loans; and credit cards, auto loans, leases, and travel services to consumers and small businesses through bank branches, ATMs, and digital and telephone banking.