Inverness Counsel LLC NY Sells 5,363 Shares of JPMorgan Chase & Co. (JPM)

Inverness Counsel LLC NY lowered its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 1.6% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 321,741 shares of the financial services provider’s stock after selling 5,363 shares during the period. JPMorgan Chase & Co. makes up about 2.1% of Inverness Counsel LLC NY’s portfolio, making the stock its 16th largest holding. Inverness Counsel LLC NY’s holdings in JPMorgan Chase & Co. were worth $31,408,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Contravisory Investment Management Inc. lifted its holdings in shares of JPMorgan Chase & Co. by 188.3% during the 4th quarter. Contravisory Investment Management Inc. now owns 542 shares of the financial services provider’s stock worth $53,000 after acquiring an additional 354 shares during the period. Bogart Wealth LLC lifted its holdings in shares of JPMorgan Chase & Co. by 19.0% during the 4th quarter. Bogart Wealth LLC now owns 625 shares of the financial services provider’s stock worth $61,000 after acquiring an additional 100 shares during the period. D Orazio & Associates Inc. lifted its holdings in shares of JPMorgan Chase & Co. by 62.6% during the 4th quarter. D Orazio & Associates Inc. now owns 779 shares of the financial services provider’s stock worth $76,000 after acquiring an additional 300 shares during the period. Arlington Partners LLC lifted its holdings in shares of JPMorgan Chase & Co. by 126.6% during the 3rd quarter. Arlington Partners LLC now owns 895 shares of the financial services provider’s stock worth $101,000 after acquiring an additional 500 shares during the period. Finally, Investment Partners LTD. lifted its holdings in shares of JPMorgan Chase & Co. by 12.5% during the 3rd quarter. Investment Partners LTD. now owns 21,950 shares of the financial services provider’s stock worth $113,000 after acquiring an additional 2,436 shares during the period. 69.91% of the stock is owned by hedge funds and other institutional investors.

In other news, CFO Marianne Lake sold 115,415 shares of the stock in a transaction on Monday, April 15th. The shares were sold at an average price of $109.75, for a total transaction of $12,666,796.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Mellody L. Hobson acquired 1,700 shares of the firm’s stock in a transaction dated Thursday, April 18th. The shares were purchased at an average price of $114.26 per share, with a total value of $194,242.00. Following the completion of the transaction, the director now owns 7,485 shares of the company’s stock, valued at $855,236.10. The disclosure for this purchase can be found here. Over the last quarter, insiders have sold 157,573 shares of company stock valued at $17,293,454. 0.76% of the stock is currently owned by corporate insiders.

JPM opened at $112.51 on Monday. JPMorgan Chase & Co. has a twelve month low of $91.11 and a twelve month high of $119.24. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 1.25. The firm has a market cap of $386.16 billion, a PE ratio of 12.50, a PEG ratio of 1.61 and a beta of 1.16.

JPMorgan Chase & Co. (NYSE:JPM) last posted its quarterly earnings data on Friday, April 12th. The financial services provider reported $2.65 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.32 by $0.33. JPMorgan Chase & Co. had a net margin of 24.28% and a return on equity of 14.23%. The company had revenue of $29.12 billion during the quarter, compared to analysts’ expectations of $27.95 billion. During the same period in the prior year, the company posted $2.37 earnings per share. As a group, research analysts anticipate that JPMorgan Chase & Co. will post 10 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 30th. Stockholders of record on Friday, April 5th were given a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a dividend yield of 2.84%. The ex-dividend date was Thursday, April 4th. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is presently 35.56%.

JPM has been the subject of a number of research analyst reports. BMO Capital Markets lowered their price objective on shares of JPMorgan Chase & Co. from $123.00 to $116.00 and set a “market perform” rating for the company in a research report on Thursday, February 28th. HSBC set a $102.00 price objective on shares of JPMorgan Chase & Co. and gave the stock a “neutral” rating in a research report on Thursday, April 4th. Wells Fargo & Co reiterated an “outperform” rating and set a $130.00 price objective (up from $121.00) on shares of JPMorgan Chase & Co. in a research report on Thursday, February 14th. Zacks Investment Research cut shares of JPMorgan Chase & Co. from a “hold” rating to a “sell” rating in a research report on Wednesday, March 20th. Finally, Credit Suisse Group upped their price objective on shares of JPMorgan Chase & Co. from $128.00 to $132.00 and gave the stock an “outperform” rating in a research report on Monday, April 15th. Eleven investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $123.05.

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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 and investment products and services to consumers; lending, deposit, and cash management and payment solutions to small businesses; mortgage origination and servicing activities; residential mortgages and home equity loans; and credit card, payment processing, auto loan, and leasing services.

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Institutional Ownership by Quarter for JPMorgan Chase & Co. (NYSE:JPM)

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