Pictet Asset Management Holding SA Sells 51,868 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Pictet Asset Management Holding SA lessened its position in JPMorgan Chase & Co. (NYSE:JPM) by 3.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,389,417 shares of the financial services provider’s stock after selling 51,868 shares during the quarter. Pictet Asset Management Holding SA’s holdings in JPMorgan Chase & Co. were worth $333,057,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the company. Sellwood Investment Partners LLC purchased a new stake in JPMorgan Chase & Co. in the fourth quarter worth $34,000. Midwest Capital Advisors LLC purchased a new position in JPMorgan Chase & Co. in the 4th quarter worth about $43,000. Legacy Investment Solutions LLC bought a new stake in JPMorgan Chase & Co. during the 3rd quarter valued at about $45,000. Collier Financial purchased a new stake in JPMorgan Chase & Co. in the 4th quarter valued at about $45,000. Finally, Lowe Wealth Advisors LLC grew its stake in JPMorgan Chase & Co. by 34.0% in the 4th quarter. Lowe Wealth Advisors LLC now owns 201 shares of the financial services provider’s stock worth $48,000 after acquiring an additional 51 shares in the last quarter. 71.55% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on JPM shares. Evercore ISI lowered their price target on JPMorgan Chase & Co. from $273.00 to $265.00 and set an “outperform” rating for the company in a report on Tuesday. Robert W. Baird raised JPMorgan Chase & Co. from an “underperform” rating to a “neutral” rating and increased their price target for the stock from $215.00 to $220.00 in a research report on Friday, March 7th. Bank of America lifted their price objective on JPMorgan Chase & Co. from $260.00 to $280.00 and gave the company a “buy” rating in a report on Tuesday, January 7th. Barclays increased their target price on shares of JPMorgan Chase & Co. from $304.00 to $330.00 and gave the stock an “overweight” rating in a report on Thursday, January 16th. Finally, Baird R W upgraded shares of JPMorgan Chase & Co. from a “strong sell” rating to a “hold” rating in a report on Friday, March 7th. Ten analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $254.83.

JPMorgan Chase & Co. Stock Performance

Shares of JPMorgan Chase & Co. stock opened at $243.58 on Wednesday. The company has a 50 day moving average price of $256.88 and a 200 day moving average price of $241.33. The firm has a market capitalization of $681.06 billion, a P/E ratio of 12.34, a PEG ratio of 2.83 and a beta of 1.10. The company has a quick ratio of 0.89, a current ratio of 0.88 and a debt-to-equity ratio of 1.24. JPMorgan Chase & Co. has a 52 week low of $179.20 and a 52 week high of $280.25.

JPMorgan Chase & Co. (NYSE:JPM) last posted its quarterly earnings results on Wednesday, January 15th. The financial services provider reported $4.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.03 by $0.78. The business had revenue of $42.77 billion during the quarter, compared to analysts’ expectations of $41.90 billion. JPMorgan Chase & Co. had a net margin of 20.96% and a return on equity of 16.99%. The business’s quarterly revenue was up 10.9% on a year-over-year basis. During the same quarter last year, the company posted $3.04 earnings per share. Sell-side analysts expect that JPMorgan Chase & Co. will post 18.1 EPS for the current year.

JPMorgan Chase & Co. Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Friday, April 4th will be issued a $1.40 dividend. The ex-dividend date of this dividend is Friday, April 4th. This is a positive change from JPMorgan Chase & Co.’s previous quarterly dividend of $1.25. This represents a $5.60 dividend on an annualized basis and a dividend yield of 2.30%. JPMorgan Chase & Co.’s dividend payout ratio is currently 28.37%.

Insider Activity

In related news, CEO Troy L. Rohrbaugh sold 37,500 shares of the stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $269.84, for a total value of $10,119,000.00. Following the transaction, the chief executive officer now owns 158,381 shares in the company, valued at approximately $42,737,529.04. This represents a 19.14 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Jennifer Piepszak sold 4,273 shares of the company’s stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $269.85, for a total transaction of $1,153,069.05. Following the completion of the sale, the chief operating officer now directly owns 54,469 shares in the company, valued at $14,698,459.65. This trade represents a 7.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 76,848 shares of company stock valued at $19,987,908. Company insiders own 0.79% of the company’s stock.

JPMorgan Chase & Co. Profile

JPMorgan Chase & Co is a financial holding company, which engages in the provision of financial and investment banking services. It focuses on investment banking, financial services for consumers and small businesses, commercial banking, financial transaction processing, and asset management. It operates through the following segments: Consumer and Community Banking (CCB), Commercial and Investment Bank (CIB), Asset and Wealth Management (AWM), and Corporate.