Acorn Wealth Advisors LLC Trims Stock Position in JPMorgan Chase & Co. (NYSE:JPM)

Acorn Wealth Advisors LLC lessened its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 0.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 12,595 shares of the financial services provider’s stock after selling 55 shares during the period. JPMorgan Chase & Co. accounts for approximately 1.2% of Acorn Wealth Advisors LLC’s portfolio, making the stock its 18th largest holding. Acorn Wealth Advisors LLC’s holdings in JPMorgan Chase & Co. were worth $3,019,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Fisher Asset Management LLC lifted its stake in shares of JPMorgan Chase & Co. by 31.7% during the third quarter. Fisher Asset Management LLC now owns 16,784,272 shares of the financial services provider’s stock valued at $3,539,132,000 after buying an additional 4,043,841 shares during the period. Healthcare of Ontario Pension Plan Trust Fund lifted its stake in shares of JPMorgan Chase & Co. by 137.8% during the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 4,376,176 shares of the financial services provider’s stock valued at $922,760,000 after buying an additional 2,535,590 shares during the period. Caisse DE Depot ET Placement DU Quebec lifted its stake in shares of JPMorgan Chase & Co. by 93.6% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 2,692,159 shares of the financial services provider’s stock valued at $567,669,000 after buying an additional 1,301,764 shares during the period. Franklin Resources Inc. lifted its stake in shares of JPMorgan Chase & Co. by 7.2% during the third quarter. Franklin Resources Inc. now owns 15,073,193 shares of the financial services provider’s stock valued at $3,338,955,000 after buying an additional 1,016,289 shares during the period. Finally, National Pension Service lifted its stake in shares of JPMorgan Chase & Co. by 15.3% during the third quarter. National Pension Service now owns 5,259,001 shares of the financial services provider’s stock valued at $1,108,913,000 after buying an additional 697,155 shares during the period. Hedge funds and other institutional investors own 71.55% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on JPM. Baird R W downgraded shares of JPMorgan Chase & Co. from a “hold” rating to a “strong sell” rating in a research note on Thursday, November 7th. Oppenheimer downgraded shares of JPMorgan Chase & Co. from an “outperform” rating to a “market perform” rating in a research note on Wednesday, November 20th. Keefe, Bruyette & Woods upped their price objective on shares of JPMorgan Chase & Co. from $257.00 to $264.00 and gave the company a “market perform” rating in a research note on Thursday, January 16th. Wells Fargo & Company upped their price objective on shares of JPMorgan Chase & Co. from $240.00 to $270.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. Finally, UBS Group increased their price target on shares of JPMorgan Chase & Co. from $276.00 to $287.00 and gave the stock a “buy” rating in a research note on Thursday, January 16th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, JPMorgan Chase & Co. currently has an average rating of “Hold” and a consensus price target of $251.78.

Insider Activity at JPMorgan Chase & Co.

In related news, insider Robin Leopold sold 1,250 shares of the firm’s stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $270.09, for a total transaction of $337,612.50. Following the completion of the sale, the insider now directly owns 50,377 shares of the company’s stock, valued at approximately $13,606,323.93. This trade represents a 2.42 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Troy L. Rohrbaugh sold 37,500 shares of the firm’s stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $269.84, for a total transaction of $10,119,000.00. Following the sale, the chief executive officer now directly owns 158,381 shares of the company’s stock, valued at approximately $42,737,529.04. The trade was a 19.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 46,326 shares of company stock valued at $12,448,445. Corporate insiders own 0.79% of the company’s stock.

JPMorgan Chase & Co. Price Performance

JPMorgan Chase & Co. stock opened at $246.12 on Friday. JPMorgan Chase & Co. has a 52-week low of $179.20 and a 52-week high of $280.25. The firm has a fifty day moving average of $259.38 and a 200-day moving average of $238.07. The firm has a market capitalization of $688.17 billion, a P/E ratio of 12.47, a PEG ratio of 2.83 and a beta of 1.10. The company has a quick ratio of 0.89, a current ratio of 0.88 and a debt-to-equity ratio of 1.24.

JPMorgan Chase & Co. (NYSE:JPM) last released its quarterly earnings data 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. 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 during the quarter, compared to analyst estimates of $41.90 billion. During the same quarter in the prior year, the business earned $3.04 earnings per share. The business’s quarterly revenue was up 10.9% compared to the same quarter last year. As a group, analysts predict that JPMorgan Chase & Co. will post 18.1 EPS for the current year.

JPMorgan Chase & Co. Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Monday, January 6th were issued a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a yield of 2.03%. The ex-dividend date of this dividend was Monday, January 6th. JPMorgan Chase & Co.’s payout ratio is 25.33%.

JPMorgan Chase & Co. 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.