Pzena Investment Management LLC Trims Stock Position in JPMorgan Chase & Co. (NYSE:JPM)

Pzena Investment Management LLC reduced its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 0.8% during the fourth quarter, Holdings Channel reports. The firm owned 1,768,274 shares of the financial services provider’s stock after selling 14,331 shares during the quarter. JPMorgan Chase & Co. makes up approximately 1.1% of Pzena Investment Management LLC’s portfolio, making the stock its 28th biggest position. Pzena Investment Management LLC’s holdings in JPMorgan Chase & Co. were worth $300,783,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in JPM. Norges Bank purchased a new stake in shares of JPMorgan Chase & Co. in the 4th quarter worth about $6,016,878,000. International Assets Investment Management LLC purchased a new stake in JPMorgan Chase & Co. during the 4th quarter valued at about $1,017,893,000. Wellington Management Group LLP grew its position in JPMorgan Chase & Co. by 12.2% during the 3rd quarter. Wellington Management Group LLP now owns 42,421,711 shares of the financial services provider’s stock valued at $6,151,997,000 after purchasing an additional 4,603,090 shares during the last quarter. J.P. Morgan Private Wealth Advisors LLC purchased a new stake in JPMorgan Chase & Co. during the 3rd quarter valued at about $253,076,000. Finally, Cerity Partners LLC grew its position in JPMorgan Chase & Co. by 155.2% during the 4th quarter. Cerity Partners LLC now owns 2,246,582 shares of the financial services provider’s stock valued at $382,144,000 after purchasing an additional 1,366,360 shares during the last quarter. 71.55% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at JPMorgan Chase & Co.

In other JPMorgan Chase & Co. news, insider Robin Leopold sold 3,000 shares of the stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $198.86, for a total transaction of $596,580.00. Following the completion of the sale, the insider now directly owns 44,113 shares of the company’s stock, valued at approximately $8,772,311.18. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, insider Lori A. Beer sold 5,298 shares of the firm’s stock in a transaction on Monday, May 20th. The shares were sold at an average price of $200.64, for a total value of $1,062,990.72. Following the completion of the transaction, the insider now directly owns 46,375 shares of the company’s stock, valued at $9,304,680. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Robin Leopold sold 3,000 shares of the firm’s stock in a transaction on Friday, May 10th. The shares were sold at an average price of $198.86, for a total transaction of $596,580.00. Following the completion of the transaction, the insider now directly owns 44,113 shares of the company’s stock, valued at $8,772,311.18. The disclosure for this sale can be found here. Insiders sold a total of 249,399 shares of company stock valued at $46,713,667 in the last three months. 0.79% of the stock is currently owned by corporate insiders.

JPMorgan Chase & Co. Stock Performance

NYSE JPM traded up $2.62 on Friday, reaching $199.54. 1,329,411 shares of the stock were exchanged, compared to its average volume of 9,235,007. JPMorgan Chase & Co. has a one year low of $134.40 and a one year high of $205.88. The firm has a market capitalization of $573.01 billion, a PE ratio of 11.89, a PEG ratio of 2.68 and a beta of 1.13. The company’s 50-day simple moving average is $194.50 and its two-hundred day simple moving average is $177.66. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 1.29.

JPMorgan Chase & Co. (NYSE:JPM) last released its earnings results on Friday, April 12th. The financial services provider reported $4.63 EPS for the quarter, topping analysts’ consensus estimates of $4.18 by $0.45. JPMorgan Chase & Co. had a net margin of 20.05% and a return on equity of 17.79%. The company had revenue of $41.93 billion for the quarter, compared to analysts’ expectations of $40.90 billion. Analysts expect that JPMorgan Chase & Co. will post 16.31 EPS for the current fiscal year.

JPMorgan Chase & Co. Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Friday, July 5th will be issued a dividend of $1.15 per share. This represents a $4.60 dividend on an annualized basis and a yield of 2.31%. The ex-dividend date is Friday, July 5th. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is currently 27.78%.

Analysts Set New Price Targets

Several analysts recently commented on JPM shares. Evercore ISI increased their price objective on shares of JPMorgan Chase & Co. from $188.00 to $210.00 and gave the company an “outperform” rating in a research report on Thursday, April 4th. Keefe, Bruyette & Woods increased their price objective on shares of JPMorgan Chase & Co. from $203.00 to $209.00 and gave the company a “market perform” rating in a research report on Tuesday. Wells Fargo & Company increased their price objective on shares of JPMorgan Chase & Co. from $200.00 to $220.00 and gave the company an “overweight” rating in a research report on Wednesday, March 20th. Oppenheimer cut their price objective on shares of JPMorgan Chase & Co. from $219.00 to $217.00 and set an “outperform” rating on the stock in a research report on Monday, April 15th. Finally, Robert W. Baird upped their target price on shares of JPMorgan Chase & Co. from $175.00 to $185.00 and gave the company a “neutral” rating in a research note on Tuesday. Nine analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, JPMorgan Chase & Co. has an average rating of “Moderate Buy” and a consensus price target of $194.10.

JPMorgan Chase & Co. Company 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.