Carnegie Lake Advisors LLC Cuts Stock Position in JPMorgan Chase & Co. (NYSE:JPM)

Carnegie Lake Advisors LLC lowered its stake in JPMorgan Chase & Co. (NYSE:JPM) by 2.6% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 21,334 shares of the financial services provider’s stock after selling 575 shares during the period. JPMorgan Chase & Co. accounts for about 2.1% of Carnegie Lake Advisors LLC’s holdings, making the stock its 11th largest holding. Carnegie Lake Advisors LLC’s holdings in JPMorgan Chase & Co. were worth $5,114,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Rappaport Reiches Capital Management LLC increased its stake in JPMorgan Chase & Co. by 3.8% during the fourth quarter. Rappaport Reiches Capital Management LLC now owns 1,068 shares of the financial services provider’s stock worth $256,000 after acquiring an additional 39 shares during the last quarter. Yoder Wealth Management Inc. boosted its position in shares of JPMorgan Chase & Co. by 2.8% during the fourth quarter. Yoder Wealth Management Inc. now owns 1,436 shares of the financial services provider’s stock valued at $344,000 after buying an additional 39 shares during the period. Almanack Investment Partners LLC. boosted its position in shares of JPMorgan Chase & Co. by 0.8% during the fourth quarter. Almanack Investment Partners LLC. now owns 5,143 shares of the financial services provider’s stock valued at $1,233,000 after buying an additional 39 shares during the period. Powers Advisory Group LLC boosted its position in shares of JPMorgan Chase & Co. by 0.7% during the fourth quarter. Powers Advisory Group LLC now owns 6,131 shares of the financial services provider’s stock valued at $1,470,000 after buying an additional 42 shares during the period. Finally, Financial Avengers Inc. boosted its position in shares of JPMorgan Chase & Co. by 5.2% during the third quarter. Financial Avengers Inc. now owns 868 shares of the financial services provider’s stock valued at $183,000 after buying an additional 43 shares during the period. Hedge funds and other institutional investors own 71.55% of the company’s stock.

Analyst Ratings Changes

JPM has been the subject of several recent analyst reports. Keefe, Bruyette & Woods boosted their target price on JPMorgan Chase & Co. from $257.00 to $264.00 and gave the company a “market perform” rating in a research report on Thursday, January 16th. Baird R W lowered JPMorgan Chase & Co. from a “hold” rating to a “strong sell” rating in a research report on Thursday, November 7th. Citigroup boosted their price target on JPMorgan Chase & Co. from $215.00 to $250.00 and gave the company a “neutral” rating in a report on Tuesday, November 19th. Bank of America boosted their price target on JPMorgan Chase & Co. from $260.00 to $280.00 and gave the company a “buy” rating in a report on Tuesday, January 7th. Finally, 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 report on Thursday, January 16th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, JPMorgan Chase & Co. has a consensus rating of “Hold” and an average price target of $251.78.

Insider Activity at JPMorgan Chase & Co.

In other JPMorgan Chase & Co. news, General Counsel Stacey Friedman sold 3,303 shares of the firm’s stock in a transaction that occurred on Thursday, January 16th. The shares were sold at an average price of $253.94, for a total value of $838,763.82. Following the completion of the transaction, the general counsel now owns 47,620 shares of the company’s stock, valued at $12,092,622.80. This trade represents a 6.49 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 0.79% of the stock is owned by insiders.

JPMorgan Chase & Co. Stock Down 0.2 %

JPM stock opened at $279.30 on Thursday. The company has a market cap of $786.31 billion, a price-to-earnings ratio of 14.15, a PEG ratio of 2.93 and a beta of 1.12. 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. has a 12 month low of $178.40 and a 12 month high of $280.25. The firm has a 50-day moving average of $255.13 and a two-hundred day moving average of $234.26.

JPMorgan Chase & Co. (NYSE:JPM) last announced its quarterly earnings results on Wednesday, January 15th. The financial services provider reported $4.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.03 by $0.78. The business had revenue of $42.77 billion during the quarter, compared to the consensus estimate of $41.90 billion. JPMorgan Chase & Co. had a net margin of 20.96% and a return on equity of 16.99%. The business’s revenue was up 10.9% compared to the same quarter last year. During the same quarter last year, the firm earned $3.04 EPS. As a group, analysts forecast that JPMorgan Chase & Co. will post 18.1 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Dividend Announcement

The business also recently announced 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 was Monday, January 6th. This represents a $5.00 annualized dividend and a yield of 1.79%. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is presently 25.33%.

About JPMorgan Chase & Co.

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.