Sit Investment Associates Inc. Lowers Holdings in JPMorgan Chase & Co. (NYSE:JPM)

Sit Investment Associates Inc. lowered its position in shares of JPMorgan Chase & Co. (NYSE:JPM) by 14.6% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 105,802 shares of the financial services provider’s stock after selling 18,073 shares during the quarter. Sit Investment Associates Inc.’s holdings in JPMorgan Chase & Co. were worth $25,362,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in the company. Principal Financial Group Inc. grew its holdings in JPMorgan Chase & Co. by 3.2% during the third quarter. Principal Financial Group Inc. now owns 5,824,289 shares of the financial services provider’s stock worth $1,228,110,000 after acquiring an additional 182,648 shares during the period. United Bank boosted its position in shares of JPMorgan Chase & Co. by 2.5% during the 3rd quarter. United Bank now owns 25,354 shares of the financial services provider’s stock worth $5,346,000 after purchasing an additional 614 shares in the last quarter. Kensington Investment Counsel LLC grew its stake in shares of JPMorgan Chase & Co. by 1.3% during the 3rd quarter. Kensington Investment Counsel LLC now owns 22,426 shares of the financial services provider’s stock worth $4,729,000 after purchasing an additional 291 shares during the period. Legacy Investment Solutions LLC purchased a new position in shares of JPMorgan Chase & Co. in the 3rd quarter valued at about $45,000. Finally, Pacific Center for Financial Services lifted its stake in shares of JPMorgan Chase & Co. by 1.5% in the third quarter. Pacific Center for Financial Services now owns 3,349 shares of the financial services provider’s stock valued at $706,000 after purchasing an additional 49 shares during the period. Institutional investors and hedge funds own 71.55% of the company’s stock.

Insider Buying and Selling

In other JPMorgan Chase & Co. news, insider Robin Leopold sold 1,250 shares of JPMorgan Chase & Co. stock in a transaction on Monday, March 24th. The shares were sold at an average price of $246.92, for a total value of $308,650.00. Following the transaction, the insider now owns 49,127 shares in the company, valued at $12,130,438.84. This trade represents a 2.48 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Jennifer Piepszak sold 4,273 shares of the business’s stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $269.85, for a total value of $1,153,069.05. Following the sale, the chief operating officer now directly owns 54,469 shares of the company’s stock, valued at approximately $14,698,459.65. This trade represents a 7.27 % decrease in their position. 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. Insiders own 0.79% of the company’s stock.

JPMorgan Chase & Co. Stock Down 8.1 %

JPM stock opened at $210.09 on Monday. The company has a 50 day moving average price of $254.71 and a two-hundred day moving average price of $241.75. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.89 and a current ratio of 0.88. The stock has a market capitalization of $587.43 billion, a P/E ratio of 10.64, a PEG ratio of 2.83 and a beta of 1.01. JPMorgan Chase & Co. has a one year low of $179.20 and a one year high of $280.25.

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

JPMorgan Chase & Co. Increases Dividend

The business 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 dividend of $1.40 per share. This is a positive change from JPMorgan Chase & Co.’s previous quarterly dividend of $1.25. This represents a $5.60 annualized dividend and a dividend yield of 2.67%. The ex-dividend date of this dividend is Friday, April 4th. JPMorgan Chase & Co.’s dividend payout ratio is presently 28.37%.

Wall Street Analyst Weigh In

Several brokerages have weighed in on JPM. Baird R W raised shares of JPMorgan Chase & Co. from a “strong sell” rating to a “hold” rating in a report on Friday, March 7th. Wolfe Research raised JPMorgan Chase & Co. from a “peer perform” rating to an “outperform” rating and set a $269.00 price objective for the company in a research note on Friday, January 3rd. Bank of America reduced their price objective on JPMorgan Chase & Co. from $285.00 to $284.00 and set a “buy” rating for the company in a report on Wednesday, April 2nd. Barclays upped their target price on JPMorgan Chase & Co. from $304.00 to $330.00 and gave the company an “overweight” rating in a report on Thursday, January 16th. Finally, Robert W. Baird raised JPMorgan Chase & Co. from an “underperform” rating to a “neutral” rating and lifted their price target for the stock from $215.00 to $220.00 in a research note on Friday, March 7th. Ten investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, JPMorgan Chase & Co. currently has a consensus rating of “Moderate Buy” and an average target price of $254.83.

JPMorgan Chase & Co. Company 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.