Tortoise Investment Management LLC Has $1.46 Million Holdings in JPMorgan Chase & Co. (NYSE:JPM)

Tortoise Investment Management LLC decreased its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 4.9% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 8,578 shares of the financial services provider’s stock after selling 442 shares during the period. Tortoise Investment Management LLC’s holdings in JPMorgan Chase & Co. were worth $1,459,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the business. Stone House Investment Management LLC raised its position in shares of JPMorgan Chase & Co. by 132.8% in the 4th quarter. Stone House Investment Management LLC now owns 156 shares of the financial services provider’s stock valued at $27,000 after acquiring an additional 89 shares during the period. Bare Financial Services Inc acquired a new stake in shares of JPMorgan Chase & Co. in the 4th quarter valued at approximately $35,000. Partnership Wealth Management LLC acquired a new stake in shares of JPMorgan Chase & Co. in the 4th quarter valued at approximately $36,000. Stuart Chaussee & Associates Inc. acquired a new stake in shares of JPMorgan Chase & Co. in the 4th quarter valued at approximately $40,000. Finally, Vermillion & White Wealth Management Group LLC acquired a new stake in shares of JPMorgan Chase & Co. in the 4th quarter valued at approximately $40,000. Institutional investors and hedge funds own 71.55% of the company’s stock.

Analysts Set New Price Targets

JPM has been the topic of several research analyst reports. Morgan Stanley dropped their target price on shares of JPMorgan Chase & Co. from $216.00 to $214.00 and set an “overweight” rating on the stock in a report on Tuesday, May 21st. Wells Fargo & Company raised 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. Evercore ISI raised their price target 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. Keefe, Bruyette & Woods raised their price target on shares of JPMorgan Chase & Co. from $203.00 to $209.00 and gave the stock a “market perform” rating in a research note on Tuesday, May 21st. Finally, Jefferies Financial Group raised 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. Nine investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $194.10.

Insider Buying and Selling

In other news, insider Ashley Bacon sold 5,086 shares of the firm’s stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $199.54, for a total value of $1,014,860.44. Following the completion of the sale, the insider now directly owns 212,265 shares of the company’s stock, valued at approximately $42,355,358.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Elena A. Korablina sold 21,829 shares of the business’s stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $190.91, for a total value of $4,167,374.39. Following the completion of the transaction, the insider now owns 6,484 shares of the company’s stock, valued at approximately $1,237,860.44. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Ashley Bacon sold 5,086 shares of the business’s stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $199.54, for a total value of $1,014,860.44. Following the completion of the transaction, the insider now directly owns 212,265 shares of the company’s stock, valued at approximately $42,355,358.10. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 254,485 shares of company stock worth $47,728,528. 0.79% of the stock is owned by corporate insiders.

JPMorgan Chase & Co. Stock Up 0.1 %

JPM stock traded up $0.12 during midday trading on Friday, hitting $193.78. The stock had a trading volume of 6,874,029 shares, compared to its average volume of 8,653,904. JPMorgan Chase & Co. has a 52-week low of $135.19 and a 52-week high of $205.88. The firm has a market cap of $556.47 billion, a price-to-earnings ratio of 11.70, a price-to-earnings-growth ratio of 2.61 and a beta of 1.12. The business has a 50-day moving average of $194.90 and a two-hundred day moving average of $183.26. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.92 and a quick ratio of 0.92.

JPMorgan Chase & Co. (NYSE:JPM) last released its earnings results on Friday, April 12th. The financial services provider reported $4.63 EPS for the quarter, topping 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 analysts’ expectations of $40.90 billion. As a group, equities research analysts forecast that JPMorgan Chase & Co. will post 16.41 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 31st. Investors of record on Friday, July 5th will be given a dividend of $1.15 per share. This represents a $4.60 annualized dividend and a dividend yield of 2.37%. The ex-dividend date of this dividend is Friday, July 5th. JPMorgan Chase & Co.’s dividend payout ratio is currently 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.