Gray Wealth Management Inc. Trims Stock Position in JPMorgan Chase & Co. (NYSE:JPM)

Gray Wealth Management Inc. cut its stake in JPMorgan Chase & Co. (NYSE:JPM) by 7.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,450 shares of the financial services provider’s stock after selling 516 shares during the period. Gray Wealth Management Inc.’s holdings in JPMorgan Chase & Co. were worth $1,097,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Stone House Investment Management LLC raised its holdings in shares of JPMorgan Chase & Co. by 132.8% in the fourth quarter. Stone House Investment Management LLC now owns 156 shares of the financial services provider’s stock valued at $27,000 after buying an additional 89 shares during the last quarter. Macroview Investment Management LLC raised its holdings in shares of JPMorgan Chase & Co. by 7,833.3% in the third quarter. Macroview Investment Management LLC now owns 238 shares of the financial services provider’s stock valued at $34,000 after buying an additional 235 shares during the last quarter. Briaud Financial Planning Inc purchased a new stake in shares of JPMorgan Chase & Co. in the third quarter valued at about $40,000. Rakuten Securities Inc. purchased a new stake in shares of JPMorgan Chase & Co. in the fourth quarter valued at about $44,000. Finally, Morton Brown Family Wealth LLC raised its holdings in shares of JPMorgan Chase & Co. by 2,308.3% in the fourth quarter. Morton Brown Family Wealth LLC now owns 289 shares of the financial services provider’s stock valued at $49,000 after buying an additional 277 shares during the last quarter. 71.55% of the stock is owned by hedge funds and other institutional investors.

JPMorgan Chase & Co. Stock Performance

Shares of JPM opened at $193.28 on Friday. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.91 and a current ratio of 0.92. The company has a market capitalization of $555.12 billion, a price-to-earnings ratio of 11.67, a PEG ratio of 2.42 and a beta of 1.15. The company’s 50 day simple moving average is $190.07 and its 200 day simple moving average is $170.23. JPMorgan Chase & Co. has a 1 year low of $131.81 and a 1 year high of $200.94.

JPMorgan Chase & Co. Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Friday, April 5th will be paid a dividend of $1.15 per share. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.05. The ex-dividend date of this dividend is Thursday, April 4th. This represents a $4.60 annualized dividend and a dividend yield of 2.38%. JPMorgan Chase & Co.’s dividend payout ratio is presently 27.78%.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on JPM. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $185.00 target price on shares of JPMorgan Chase & Co. in a report on Wednesday, March 20th. Jefferies Financial Group boosted their price target on shares of JPMorgan Chase & Co. from $202.00 to $228.00 and gave the stock a “buy” rating in a research note on Monday, April 8th. Wells Fargo & Company boosted their price target on shares of JPMorgan Chase & Co. from $200.00 to $220.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 20th. Oppenheimer dropped their price target on shares of JPMorgan Chase & Co. from $219.00 to $217.00 and set an “outperform” rating on the stock in a research note on Monday, April 15th. Finally, Barclays upped their target price on shares of JPMorgan Chase & Co. from $186.00 to $212.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 2nd. Eight research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $192.05.

Insider Activity at JPMorgan Chase & Co.

In related news, CEO Jennifer Piepszak sold 1,648 shares of the company’s stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $178.96, for a total transaction of $294,926.08. Following the transaction, the chief executive officer now owns 32,819 shares of the company’s stock, valued at $5,873,288.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other JPMorgan Chase & Co. news, CEO Jennifer Piepszak sold 1,648 shares of the stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $178.96, for a total transaction of $294,926.08. Following the transaction, the chief executive officer now owns 32,819 shares of the company’s stock, valued at $5,873,288.24. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Ashley Bacon sold 3,368 shares of the stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $179.00, for a total transaction of $602,872.00. Following the transaction, the insider now directly owns 202,093 shares in the company, valued at approximately $36,174,647. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,020,696 shares of company stock valued at $186,794,151. Company insiders own 0.79% of the company’s stock.

About JPMorgan Chase & Co.

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.