Flputnam Investment Management Co. Trims Stock Holdings in JPMorgan Chase & Co. (NYSE:JPM)

Flputnam Investment Management Co. lowered its position in JPMorgan Chase & Co. (NYSE:JPM) by 2.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 338,657 shares of the financial services provider’s stock after selling 8,044 shares during the quarter. JPMorgan Chase & Co. makes up approximately 1.4% of Flputnam Investment Management Co.’s portfolio, making the stock its 13th biggest position. Flputnam Investment Management Co.’s holdings in JPMorgan Chase & Co. were worth $57,606,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Valicenti Advisory Services Inc. raised its stake in shares of JPMorgan Chase & Co. by 2.9% during the third quarter. Valicenti Advisory Services Inc. now owns 79,891 shares of the financial services provider’s stock worth $11,586,000 after purchasing an additional 2,220 shares during the last quarter. Etfidea LLC raised its position in JPMorgan Chase & Co. by 5.4% in the fourth quarter. Etfidea LLC now owns 1,937 shares of the financial services provider’s stock worth $329,000 after acquiring an additional 100 shares in the last quarter. TKG Advisors LLC raised its position in JPMorgan Chase & Co. by 97.6% in the third quarter. TKG Advisors LLC now owns 13,205 shares of the financial services provider’s stock worth $1,915,000 after acquiring an additional 6,521 shares in the last quarter. Sutton Place Investors LLC raised its position in JPMorgan Chase & Co. by 179.5% in the fourth quarter. Sutton Place Investors LLC now owns 13,099 shares of the financial services provider’s stock worth $2,228,000 after acquiring an additional 8,412 shares in the last quarter. Finally, Alley Investment Management Company LLC grew its holdings in JPMorgan Chase & Co. by 0.4% in the third quarter. Alley Investment Management Company LLC now owns 126,913 shares of the financial services provider’s stock valued at $18,405,000 after purchasing an additional 530 shares during the last quarter. Hedge funds and other institutional investors own 71.55% of the company’s stock.

Analysts Set New Price Targets

Several research firms have weighed in on JPM. Wells Fargo & Company upped their target price on JPMorgan Chase & Co. from $200.00 to $220.00 and gave the company an “overweight” rating in a report on Wednesday, March 20th. Royal Bank of Canada reissued an “outperform” rating and issued a $185.00 target price on shares of JPMorgan Chase & Co. in a report on Wednesday, March 20th. Jefferies Financial Group upped their target price on JPMorgan Chase & Co. from $202.00 to $228.00 and gave the company a “buy” rating in a report on Monday, April 8th. Morgan Stanley lowered their target price on JPMorgan Chase & Co. from $221.00 to $216.00 and set an “overweight” rating on the stock in a report on Monday, April 15th. Finally, Deutsche Bank Aktiengesellschaft raised JPMorgan Chase & Co. from a “hold” rating to a “buy” rating and upped their target price for the company from $140.00 to $190.00 in a report on Tuesday, January 9th. Eight research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $192.05.

JPMorgan Chase & Co. Stock Up 2.0 %

Shares of NYSE:JPM opened at $189.44 on Tuesday. The stock’s 50-day moving average price is $189.10 and its two-hundred day moving average price is $169.57. The company has a current ratio of 0.92, a quick ratio of 0.91 and a debt-to-equity ratio of 1.29. JPMorgan Chase & Co. has a 12-month low of $131.81 and a 12-month high of $200.94. The firm has a market cap of $544.09 billion, a price-to-earnings ratio of 11.44, a PEG ratio of 2.34 and a beta of 1.15.

JPMorgan Chase & Co. Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Friday, April 5th will be issued a $1.15 dividend. This represents a $4.60 dividend on an annualized basis and a dividend yield of 2.43%. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.05. The ex-dividend date of this dividend is Thursday, April 4th. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is 27.78%.

Insider Transactions at JPMorgan Chase & Co.

In other news, Vice Chairman Peter Scher sold 1,810 shares of the firm’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $178.96, for a total value of $323,917.60. Following the transaction, the insider now directly owns 44,956 shares in the company, valued at approximately $8,045,325.76. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, CEO James Dimon sold 178,222 shares of the firm’s stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $184.18, for a total value of $32,824,927.96. Following the transaction, the chief executive officer now directly owns 264,461 shares in the company, valued at approximately $48,708,426.98. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Vice Chairman Peter Scher sold 1,810 shares of the firm’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $178.96, for a total value of $323,917.60. Following the sale, the insider now owns 44,956 shares in the company, valued at $8,045,325.76. The disclosure for this sale can be found here. Insiders have sold a total of 1,020,696 shares of company stock worth $186,794,151 in the last three months. 0.79% of the stock is currently owned by company insiders.

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.