Tortoise Investment Management LLC Sells 302 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Tortoise Investment Management LLC trimmed its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 3.3% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 8,718 shares of the financial services provider’s stock after selling 302 shares during the quarter. Tortoise Investment Management LLC’s holdings in JPMorgan Chase & Co. were worth $1,529,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in JPM. International Assets Investment Management LLC bought a new position in shares of JPMorgan Chase & Co. in the fourth quarter valued at about $1,017,893,000. Wellington Management Group LLP increased its position in JPMorgan Chase & Co. by 12.2% in the third quarter. Wellington Management Group LLP now owns 42,421,711 shares of the financial services provider’s stock worth $6,151,997,000 after purchasing an additional 4,603,090 shares during the period. J.P. Morgan Private Wealth Advisors LLC acquired a new stake in JPMorgan Chase & Co. in the third quarter worth about $253,076,000. Cerity Partners LLC increased its position in JPMorgan Chase & Co. by 155.2% in the fourth quarter. Cerity Partners LLC now owns 2,246,582 shares of the financial services provider’s stock worth $382,144,000 after purchasing an additional 1,366,360 shares during the period. Finally, Comerica Bank increased its position in JPMorgan Chase & Co. by 3,025.7% in the third quarter. Comerica Bank now owns 1,267,455 shares of the financial services provider’s stock worth $183,806,000 after purchasing an additional 1,226,905 shares during the period. 71.55% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently commented on JPM shares. Keefe, Bruyette & Woods lifted their price objective on JPMorgan Chase & Co. from $182.00 to $195.00 and gave the stock a “market perform” rating in a research report on Friday, April 5th. Jefferies Financial Group boosted their target price on JPMorgan Chase & Co. from $202.00 to $228.00 and gave the stock a “buy” rating in a research report on Monday, April 8th. Oppenheimer decreased their target price on JPMorgan Chase & Co. from $219.00 to $217.00 and set an “outperform” rating for the company in a research report on Monday, April 15th. UBS Group decreased their target price on JPMorgan Chase & Co. from $226.00 to $219.00 and set a “buy” rating for the company in a research report on Tuesday, April 16th. Finally, Evercore ISI boosted their price objective on JPMorgan Chase & Co. from $188.00 to $210.00 and gave the company an “outperform” rating in a research report on Thursday, April 4th. Eight analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $192.05.

Insider Buying and Selling at JPMorgan Chase & Co.

In other JPMorgan Chase & Co. news, CEO James Dimon sold 821,778 shares of the company’s stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $182.73, for a total value of $150,163,493.94. Following the transaction, the chief executive officer now directly owns 595,316 shares of the company’s stock, valued at approximately $108,782,092.68. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, General Counsel Stacey Friedman sold 4,415 shares of the stock in a transaction on Monday, May 20th. The stock was sold at an average price of $200.65, for a total transaction of $885,869.75. Following the sale, the general counsel now directly owns 42,124 shares of the company’s stock, valued at approximately $8,452,180.60. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO James Dimon sold 821,778 shares of the stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $182.73, for a total value of $150,163,493.94. Following the sale, the chief executive officer now directly owns 595,316 shares in the company, valued at $108,782,092.68. The disclosure for this sale can be found here. Insiders have sold a total of 1,081,127 shares of company stock valued at $198,695,364 in the last ninety days. 0.79% of the stock is currently owned by corporate insiders.

JPMorgan Chase & Co. Stock Performance

Shares of NYSE JPM opened at $195.65 on Tuesday. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.92 and a quick ratio of 0.92. The stock’s fifty day moving average price is $193.99 and its two-hundred day moving average price is $176.98. JPMorgan Chase & Co. has a one year low of $134.40 and a one year high of $205.88. The firm has a market cap of $561.84 billion, a price-to-earnings ratio of 11.81, a P/E/G ratio of 2.52 and a beta of 1.13.

JPMorgan Chase & Co. (NYSE:JPM) last issued its quarterly earnings data on Friday, April 12th. The financial services provider reported $4.63 EPS for the quarter, beating analysts’ consensus estimates of $4.18 by $0.45. JPMorgan Chase & Co. had a return on equity of 17.79% and a net margin of 20.05%. The firm had revenue of $41.93 billion for the quarter, compared to analyst estimates of $40.90 billion. On average, equities analysts forecast that JPMorgan Chase & Co. will post 16.22 EPS for the current year.

JPMorgan Chase & Co. Announces Dividend

The company 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 $1.15 dividend. This represents a $4.60 dividend on an annualized basis and a yield of 2.35%. JPMorgan Chase & Co.’s dividend payout ratio is 27.78%.

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.