Rede Wealth LLC Cuts Stake in JPMorgan Chase & Co. (NYSE:JPM)

Rede Wealth LLC reduced its stake in JPMorgan Chase & Co. (NYSE:JPM) by 3.9% during the fourth quarter, according to its most recent filing with the SEC. The fund owned 3,562 shares of the financial services provider’s stock after selling 144 shares during the quarter. Rede Wealth LLC’s holdings in JPMorgan Chase & Co. were worth $854,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Mizuho Securities Co. Ltd. purchased a new stake in JPMorgan Chase & Co. during the third quarter valued at about $25,000. Catalyst Capital Advisors LLC bought a new stake in shares of JPMorgan Chase & Co. during the third quarter valued at about $27,000. New England Capital Financial Advisors LLC increased its position in shares of JPMorgan Chase & Co. by 38.5% in the third quarter. New England Capital Financial Advisors LLC now owns 180 shares of the financial services provider’s stock worth $38,000 after purchasing an additional 50 shares during the last quarter. Carolina Wealth Advisors LLC increased its position in shares of JPMorgan Chase & Co. by 36.0% in the third quarter. Carolina Wealth Advisors LLC now owns 189 shares of the financial services provider’s stock worth $40,000 after purchasing an additional 50 shares during the last quarter. Finally, Peterson Financial Group Inc. bought a new position in shares of JPMorgan Chase & Co. in the third quarter worth approximately $45,000. 71.55% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other JPMorgan Chase & Co. news, General Counsel Stacey Friedman sold 3,303 shares of the firm’s stock in a transaction dated Thursday, January 16th. The stock was sold at an average price of $253.94, for a total value of $838,763.82. Following the transaction, the general counsel now directly owns 47,620 shares of the company’s stock, valued at approximately $12,092,622.80. This trade represents a 6.49 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.79% of the company’s stock.

JPMorgan Chase & Co. Price Performance

NYSE JPM opened at $276.61 on Tuesday. JPMorgan Chase & Co. has a one year low of $176.15 and a one year high of $279.23. The stock has a 50-day moving average of $253.02 and a 200 day moving average of $232.89. The company has a market capitalization of $778.74 billion, a price-to-earnings ratio of 14.01, a PEG ratio of 2.94 and a beta of 1.12. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.89 and a current ratio of 0.88.

JPMorgan Chase & Co. (NYSE:JPM) last announced its earnings results on Wednesday, January 15th. The financial services provider reported $4.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.03 by $0.78. The business had revenue of $42.77 billion for the quarter, compared to analysts’ expectations of $41.90 billion. JPMorgan Chase & Co. had a return on equity of 16.99% and a net margin of 20.96%. The business’s revenue for the quarter was up 10.9% on a year-over-year basis. During the same period last year, the firm posted $3.04 earnings per share. On average, sell-side analysts forecast that JPMorgan Chase & Co. will post 18.05 EPS for the current year.

JPMorgan Chase & Co. Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Monday, January 6th were given a $1.25 dividend. The ex-dividend date of this dividend was Monday, January 6th. This represents a $5.00 annualized dividend and a yield of 1.81%. JPMorgan Chase & Co.’s payout ratio is 25.33%.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. Barclays upped their price objective on shares of JPMorgan Chase & Co. from $304.00 to $330.00 and gave the stock an “overweight” rating in a research report on Thursday, January 16th. Wells Fargo & Company increased their price objective on JPMorgan Chase & Co. from $240.00 to $270.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. Bank of America raised their price target on JPMorgan Chase & Co. from $260.00 to $280.00 and gave the stock a “buy” rating in a research note on Tuesday, January 7th. Baird R W lowered JPMorgan Chase & Co. from a “hold” rating to a “strong sell” rating in a research note on Thursday, November 7th. Finally, UBS Group increased their price objective on JPMorgan Chase & Co. from $276.00 to $287.00 and gave the stock a “buy” rating in a report on Thursday, January 16th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and ten have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $251.78.

JPMorgan Chase & Co. Company Profile

JPMorgan Chase & Co is a financial holding company, which engages in the provision of financial and investment banking services. The firm offers a range of investment banking products and services in all capital markets, including advising on corporate strategy and structure, capital raising in equity and debt markets, risk management, market making in cash securities and derivative instruments, and brokerage and research.