Overbrook Management Corp Lowers Stock Holdings in JPMorgan Chase & Co. (NYSE:JPM)

Overbrook Management Corp cut its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 1.1% in the fourth quarter, Holdings Channel reports. The institutional investor owned 89,914 shares of the financial services provider’s stock after selling 1,033 shares during the quarter. JPMorgan Chase & Co. accounts for 3.1% of Overbrook Management Corp’s holdings, making the stock its 15th largest holding. Overbrook Management Corp’s holdings in JPMorgan Chase & Co. were worth $15,294,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also made changes to their positions in JPM. Stone House Investment Management LLC raised its position in JPMorgan Chase & Co. by 132.8% during the fourth quarter. Stone House Investment Management LLC now owns 156 shares of the financial services provider’s stock worth $27,000 after acquiring an additional 89 shares during the period. Macroview Investment Management LLC increased its stake in shares of JPMorgan Chase & Co. by 7,833.3% during the third quarter. Macroview Investment Management LLC now owns 238 shares of the financial services provider’s stock worth $34,000 after purchasing an additional 235 shares in the last quarter. Briaud Financial Planning Inc purchased a new stake in shares of JPMorgan Chase & Co. during the third quarter worth about $40,000. Rakuten Securities Inc. acquired a new position in shares of JPMorgan Chase & Co. during the 4th quarter worth about $44,000. Finally, Morton Brown Family Wealth LLC lifted its stake in JPMorgan Chase & Co. by 2,308.3% in the 4th 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 in the last quarter. 71.55% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have commented on JPM shares. Morgan Stanley reduced their target price on JPMorgan Chase & Co. from $221.00 to $216.00 and set an “overweight” rating for the company in a report on Monday, April 15th. Keefe, Bruyette & Woods increased their price objective on JPMorgan Chase & Co. from $182.00 to $195.00 and gave the company a “market perform” rating in a research note on Friday, April 5th. Evercore ISI lifted their target price on shares of JPMorgan Chase & Co. from $188.00 to $210.00 and gave the stock an “outperform” rating in a research note on Thursday, April 4th. Bank of America increased their target price on shares of JPMorgan Chase & Co. from $177.00 to $188.00 and gave the company a “buy” rating in a research report on Thursday, January 4th. Finally, BMO Capital Markets lowered their price target on shares of JPMorgan Chase & Co. from $196.00 to $195.00 and set a “market perform” rating on the stock in a research report on Monday, April 15th. Eight research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $192.05.

Insider Activity

In related news, General Counsel Stacey Friedman sold 6,030 shares of the stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $182.73, for a total transaction of $1,101,861.90. Following the completion of the transaction, the general counsel now owns 59,456 shares of the company’s stock, valued at approximately $10,864,394.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other JPMorgan Chase & Co. news, Vice Chairman Peter Scher sold 1,810 shares of the business’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $178.96, for a total transaction of $323,917.60. Following the sale, the insider now directly owns 44,956 shares in the company, valued at $8,045,325.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Stacey Friedman sold 6,030 shares of the firm’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $182.73, for a total transaction of $1,101,861.90. Following the completion of the transaction, the general counsel now directly owns 59,456 shares of the company’s stock, valued at approximately $10,864,394.88. The disclosure for this sale can be found here. In the last three months, 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.

JPMorgan Chase & Co. Stock Up 0.1 %

Shares of JPM opened at $191.86 on Thursday. The company’s 50-day moving average price is $191.10 and its 200 day moving average price is $171.70. JPMorgan Chase & Co. has a 12-month low of $131.81 and a 12-month high of $200.94. The company has a current ratio of 0.92, a quick ratio of 0.91 and a debt-to-equity ratio of 1.29. The firm has a market cap of $551.04 billion, a P/E ratio of 11.59, a price-to-earnings-growth ratio of 2.42 and a beta of 1.15.

JPMorgan Chase & Co. Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 30th. Stockholders of record on Friday, April 5th were paid a $1.15 dividend. This represents a $4.60 dividend on an annualized basis and a dividend yield of 2.40%. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.05. The ex-dividend date of this dividend was Thursday, April 4th. JPMorgan Chase & Co.’s payout ratio is 27.78%.

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.