New Millennium Group LLC Trims Stock Holdings in JPMorgan Chase & Co. (NYSE:JPM)

New Millennium Group LLC lessened its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 90.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,027 shares of the financial services provider’s stock after selling 9,447 shares during the quarter. New Millennium Group LLC’s holdings in JPMorgan Chase & Co. were worth $246,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. lifted its position in JPMorgan Chase & Co. by 7.7% during the third quarter. JPMorgan Chase & Co. now owns 4,450,775 shares of the financial services provider’s stock worth $938,491,000 after buying an additional 319,730 shares during the period. Sageworth Trust Co increased its stake in shares of JPMorgan Chase & Co. by 37.9% during the 3rd quarter. Sageworth Trust Co now owns 2,860 shares of the financial services provider’s stock valued at $603,000 after acquiring an additional 786 shares during the last quarter. Kingsview Wealth Management LLC lifted its holdings in shares of JPMorgan Chase & Co. by 2.5% during the 3rd quarter. Kingsview Wealth Management LLC now owns 118,095 shares of the financial services provider’s stock worth $24,902,000 after acquiring an additional 2,839 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of JPMorgan Chase & Co. by 16.0% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 692,809 shares of the financial services provider’s stock worth $143,594,000 after acquiring an additional 95,461 shares during the last quarter. Finally, Brighton Jones LLC grew its holdings in JPMorgan Chase & Co. by 11.0% in the fourth quarter. Brighton Jones LLC now owns 48,732 shares of the financial services provider’s stock valued at $11,682,000 after purchasing an additional 4,841 shares during the period. Institutional investors and hedge funds own 71.55% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. Oppenheimer downgraded shares of JPMorgan Chase & Co. from an “outperform” rating to a “market perform” rating in a research note on Wednesday, November 20th. Robert W. Baird cut JPMorgan Chase & Co. from a “neutral” rating to an “underperform” rating and set a $200.00 target price on the stock. in a report on Thursday, November 7th. UBS Group boosted their price target on JPMorgan Chase & Co. from $276.00 to $287.00 and gave the company a “buy” rating in a research report on Thursday, January 16th. Keefe, Bruyette & Woods raised their price objective on JPMorgan Chase & Co. from $257.00 to $264.00 and gave the stock a “market perform” rating in a report on Thursday, January 16th. Finally, Citigroup boosted their target price on JPMorgan Chase & Co. from $215.00 to $250.00 and gave the stock a “neutral” rating in a report on Tuesday, November 19th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $251.78.

JPMorgan Chase & Co. Price Performance

Shares of JPM stock opened at $275.84 on Friday. The firm has a fifty day simple moving average of $249.57 and a 200-day simple moving average of $229.92. The company has a market capitalization of $776.57 billion, a PE ratio of 13.97, a price-to-earnings-growth ratio of 2.87 and a beta of 1.12. JPMorgan Chase & Co. has a twelve month low of $172.62 and a twelve month high of $278.55. The company has a current ratio of 0.88, a quick ratio of 0.89 and a debt-to-equity ratio of 1.24.

JPMorgan Chase & Co. (NYSE:JPM) last released its quarterly earnings results on Wednesday, January 15th. The financial services provider reported $4.81 EPS for the quarter, topping the consensus estimate of $4.03 by $0.78. JPMorgan Chase & Co. had a return on equity of 16.99% and a net margin of 20.96%. The business had revenue of $42.77 billion for the quarter, compared to analysts’ expectations of $41.90 billion. During the same quarter in the previous year, the firm posted $3.04 earnings per share. The company’s revenue was up 10.9% compared to the same quarter last year. Equities research analysts anticipate that JPMorgan Chase & Co. will post 17.82 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Monday, January 6th were issued 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 dividend payout ratio is presently 25.33%.

Insider Activity

In other news, General Counsel Stacey Friedman sold 3,303 shares of the business’s stock in a transaction that occurred on Thursday, January 16th. The stock was sold at an average price of $253.94, for a total value of $838,763.82. Following the completion of the sale, the general counsel now directly owns 47,620 shares in the company, valued at approximately $12,092,622.80. The trade was a 6.49 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.79% of the company’s stock.

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.