David R. Rahn & Associates Inc. lessened its stake in shares of JPMorgan Chase (NYSE:JPM) by 22.9% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 12,265 shares of the financial services provider’s stock after selling 3,635 shares during the quarter. David R. Rahn & Associates Inc.’s holdings in JPMorgan Chase were worth $1,312,000 at the end of the most recent reporting period.
A number of other large investors also recently made changes to their positions in JPM. Westwood Management Corp IL boosted its holdings in shares of JPMorgan Chase by 1,266.1% during the fourth quarter. Westwood Management Corp IL now owns 88,854 shares of the financial services provider’s stock worth $9,502,000 after purchasing an additional 82,350 shares during the last quarter. Meag Munich Ergo Kapitalanlagegesellschaft MBH boosted its holdings in shares of JPMorgan Chase by 4.6% during the fourth quarter. Meag Munich Ergo Kapitalanlagegesellschaft MBH now owns 378,564 shares of the financial services provider’s stock worth $41,045,000 after purchasing an additional 16,734 shares during the last quarter. K.J. Harrison & Partners Inc raised its position in shares of JPMorgan Chase by 25.8% in the 4th quarter. K.J. Harrison & Partners Inc now owns 46,714 shares of the financial services provider’s stock worth $4,996,000 after buying an additional 9,571 shares during the period. Northstar Asset Management LLC purchased a new position in shares of JPMorgan Chase in the 4th quarter worth $215,000. Finally, Blue Fin Capital Inc. raised its position in shares of JPMorgan Chase by 3.8% in the 4th quarter. Blue Fin Capital Inc. now owns 20,199 shares of the financial services provider’s stock worth $2,160,000 after buying an additional 746 shares during the period. Hedge funds and other institutional investors own 74.50% of the company’s stock.
NYSE:JPM opened at $110.30 on Monday. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.01 and a current ratio of 1.01. JPMorgan Chase has a 12 month low of $81.64 and a 12 month high of $119.33. The stock has a market capitalization of $389,081.19, a price-to-earnings ratio of 16.06, a P/E/G ratio of 1.91 and a beta of 1.24.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 30th. Shareholders of record on Friday, April 6th will be given a $0.56 dividend. This represents a $2.24 annualized dividend and a yield of 2.03%. The ex-dividend date of this dividend is Thursday, April 5th. JPMorgan Chase’s dividend payout ratio (DPR) is presently 32.61%.
Several research analysts recently weighed in on JPM shares. Wells Fargo set a $120.00 target price on JPMorgan Chase and gave the stock a “buy” rating in a research report on Wednesday, December 20th. Buckingham Research raised JPMorgan Chase from a “neutral” rating to a “buy” rating in a research report on Thursday, December 21st. Barclays increased their target price on JPMorgan Chase from $105.00 to $132.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 2nd. Credit Suisse Group raised JPMorgan Chase to a “buy” rating and set a $120.00 target price on the stock in a research report on Friday, January 5th. Finally, Societe Generale lowered JPMorgan Chase from a “buy” rating to a “hold” rating in a research report on Tuesday, January 9th. Two research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and fifteen have issued a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $112.47.
In other news, insider Ashley Bacon sold 16,434 shares of the firm’s stock in a transaction dated Tuesday, January 16th. The stock was sold at an average price of $112.22, for a total transaction of $1,844,223.48. Following the completion of the sale, the insider now directly owns 98,811 shares in the company, valued at $11,088,570.42. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Peter Scher sold 17,057 shares of the firm’s stock in a transaction dated Tuesday, January 16th. The shares were sold at an average price of $112.20, for a total value of $1,913,795.40. Following the sale, the executive vice president now owns 15,310 shares of the company’s stock, valued at $1,717,782. The disclosure for this sale can be found here. Insiders sold 152,047 shares of company stock worth $17,098,115 over the last three months. 0.88% of the stock is currently owned by corporate insiders.
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JPMorgan Chase Profile
JPMorgan Chase & Co operates as a financial services company worldwide. It operates through four segments: Consumer & Community Banking, Corporate & Investment Bank, Commercial Banking, and Asset & Wealth Management. The Consumer & Community Banking segment offers deposit and investment products and services to consumers; lending, deposit, and cash management and payment solutions to small businesses; residential mortgages and home equity loans; and credit cards, payment processing services, auto loans and leases.
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