Formidable Asset Management LLC Sells 626 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Formidable Asset Management LLC decreased its position in JPMorgan Chase & Co. (NYSE:JPM) by 2.1% during the fourth quarter, HoldingsChannel.com reports. The fund owned 29,111 shares of the financial services provider’s stock after selling 626 shares during the quarter. JPMorgan Chase & Co. comprises 1.1% of Formidable Asset Management LLC’s investment portfolio, making the stock its 14th biggest position. Formidable Asset Management LLC’s holdings in JPMorgan Chase & Co. were worth $6,978,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in JPM. Norges Bank bought a new position in shares of JPMorgan Chase & Co. during the 4th quarter valued at approximately $8,310,884,000. Northern Trust Corp increased its position in shares of JPMorgan Chase & Co. by 15.4% during the 4th quarter. Northern Trust Corp now owns 33,845,676 shares of the financial services provider’s stock valued at $8,113,147,000 after purchasing an additional 4,515,147 shares during the last quarter. Proficio Capital Partners LLC increased its position in shares of JPMorgan Chase & Co. by 34,259.3% during the 4th quarter. Proficio Capital Partners LLC now owns 3,499,499 shares of the financial services provider’s stock valued at $838,865,000 after purchasing an additional 3,489,314 shares during the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its position in shares of JPMorgan Chase & Co. by 31.4% during the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 10,684,810 shares of the financial services provider’s stock valued at $2,561,256,000 after purchasing an additional 2,551,899 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of JPMorgan Chase & Co. by 16.3% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 17,550,491 shares of the financial services provider’s stock valued at $4,207,028,000 after purchasing an additional 2,465,572 shares during the last quarter. Institutional investors own 71.55% of the company’s stock.

Analyst Ratings Changes

JPM has been the topic of several research analyst reports. Wall Street Zen raised JPMorgan Chase & Co. from a “sell” rating to a “hold” rating in a research report on Wednesday, May 14th. KGI Securities initiated coverage on JPMorgan Chase & Co. in a research report on Sunday, April 13th. They issued a “hold” rating on the stock. Cowen reaffirmed a “buy” rating on shares of JPMorgan Chase & Co. in a research report on Tuesday. TD Securities upped their price objective on JPMorgan Chase & Co. from $305.00 to $315.00 and gave the company a “buy” rating in a research report on Tuesday. Finally, TD Cowen initiated coverage on JPMorgan Chase & Co. in a research report on Thursday, May 15th. They issued a “buy” rating and a $305.00 price objective on the stock. Eleven 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 stock has an average rating of “Moderate Buy” and an average price target of $266.20.

JPMorgan Chase & Co. Stock Up 0.0%

JPMorgan Chase & Co. stock opened at $260.77 on Friday. JPMorgan Chase & Co. has a fifty-two week low of $190.88 and a fifty-two week high of $280.25. 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 company has a market capitalization of $724.70 billion, a P/E ratio of 13.21, a PEG ratio of 2.83 and a beta of 1.07. The stock has a 50-day simple moving average of $243.88 and a 200-day simple moving average of $248.32.

JPMorgan Chase & Co. (NYSE:JPM) last posted its earnings results on Friday, April 11th. The financial services provider reported $5.07 earnings per share for the quarter, beating the consensus estimate of $4.63 by $0.44. The business had revenue of $45.30 billion during the quarter, compared to the consensus estimate of $43.62 billion. JPMorgan Chase & Co. had a return on equity of 16.99% and a net margin of 20.96%. The business’s quarterly revenue was up 8.0% on a year-over-year basis. During the same period in the previous year, the business earned $4.44 EPS. Equities research analysts expect that JPMorgan Chase & Co. will post 18.1 earnings per share for the current year.

JPMorgan Chase & Co. Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Thursday, July 3rd will be given a dividend of $1.40 per share. This represents a $5.60 annualized dividend and a yield of 2.15%. The ex-dividend date of this dividend is Thursday, July 3rd. JPMorgan Chase & Co.’s payout ratio is 27.49%.

Insiders Place Their Bets

In related news, COO Jennifer Piepszak sold 4,272 shares of the company’s stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $247.03, for a total value of $1,055,312.16. Following the sale, the chief operating officer now owns 50,197 shares in the company, valued at $12,400,164.91. This represents a 7.84% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, General Counsel Stacey Friedman sold 6,608 shares of the company’s stock in a transaction that occurred on Tuesday, May 20th. The stock was sold at an average price of $265.71, for a total value of $1,755,811.68. Following the completion of the sale, the general counsel now owns 36,520 shares in the company, valued at approximately $9,703,729.20. This represents a 15.32% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 95,594 shares of company stock worth $23,991,061. Company insiders own 0.47% 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.