Parsons Capital Management Inc. RI Reduces Stake in JPMorgan Chase & Co. (NYSE:JPM)

Parsons Capital Management Inc. RI trimmed its stake in JPMorgan Chase & Co. (NYSE:JPM) by 0.7% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 144,565 shares of the financial services provider’s stock after selling 978 shares during the quarter. JPMorgan Chase & Co. makes up about 2.0% of Parsons Capital Management Inc. RI’s portfolio, making the stock its 6th biggest holding. Parsons Capital Management Inc. RI’s holdings in JPMorgan Chase & Co. were worth $28,956,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Buttonwood Financial Advisors Inc. raised its stake in JPMorgan Chase & Co. by 1.6% in the third quarter. Buttonwood Financial Advisors Inc. now owns 5,994 shares of the financial services provider’s stock valued at $869,000 after buying an additional 92 shares during the period. Bard Financial Services Inc. lifted its holdings in JPMorgan Chase & Co. by 0.4% during the 3rd quarter. Bard Financial Services Inc. now owns 58,715 shares of the financial services provider’s stock valued at $8,515,000 after purchasing an additional 250 shares during the last quarter. PPS&V Asset Management Consultants Inc. acquired a new position in shares of JPMorgan Chase & Co. in the third quarter valued at $200,000. First PREMIER Bank lifted its stake in shares of JPMorgan Chase & Co. by 29.1% during the 3rd quarter. First PREMIER Bank now owns 26,728 shares of the financial services provider’s stock worth $3,877,000 after buying an additional 6,017 shares during the last quarter. Finally, Naples Global Advisors LLC boosted its holdings in shares of JPMorgan Chase & Co. by 3.2% during the 3rd quarter. Naples Global Advisors LLC now owns 68,137 shares of the financial services provider’s stock worth $9,881,000 after buying an additional 2,127 shares during the period. Institutional investors and hedge funds own 71.55% of the company’s stock.

Analyst Upgrades and Downgrades

JPM has been the topic of several research analyst reports. Evercore ISI increased their price target on shares of JPMorgan Chase & Co. from $188.00 to $210.00 and gave the company an “outperform” rating in a report on Thursday, April 4th. Wells Fargo & Company increased their target price on JPMorgan Chase & Co. from $200.00 to $220.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 20th. UBS Group dropped their price target on JPMorgan Chase & Co. from $226.00 to $219.00 and set a “buy” rating for the company in a report on Tuesday, April 16th. Deutsche Bank Aktiengesellschaft raised JPMorgan Chase & Co. from a “hold” rating to a “buy” rating and upped their price objective for the company from $140.00 to $190.00 in a report on Tuesday, January 9th. Finally, BMO Capital Markets dropped their target price on JPMorgan Chase & Co. from $196.00 to $195.00 and set a “market perform” rating for the company in a report on Monday, April 15th. Eight investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $192.05.

Insider Activity at JPMorgan Chase & Co.

In other news, CEO James Dimon sold 821,778 shares of the firm’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $182.73, for a total value of $150,163,493.94. Following the sale, the chief executive officer now directly owns 595,316 shares in the company, valued at approximately $108,782,092.68. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, CEO James Dimon sold 821,778 shares of the stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $182.73, for a total value of $150,163,493.94. Following the completion of the transaction, the chief executive officer now directly owns 595,316 shares in the company, valued at approximately $108,782,092.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Jennifer Piepszak sold 1,648 shares of the business’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $178.96, for a total value of $294,926.08. Following the sale, the chief executive officer now owns 32,819 shares in the company, valued at approximately $5,873,288.24. The disclosure for this sale can be found here. Insiders have sold 1,020,696 shares of company stock valued at $186,794,151 over the last ninety days. 0.79% of the stock is owned by corporate insiders.

JPMorgan Chase & Co. Price Performance

JPM traded up $0.12 during trading on Friday, hitting $193.49. 6,413,655 shares of the stock traded hands, compared to its average volume of 10,240,044. The business has a 50 day moving average price of $190.36 and a 200 day moving average price of $170.91. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.92 and a quick ratio of 0.91. JPMorgan Chase & Co. has a twelve month low of $131.81 and a twelve month high of $200.94. The company has a market cap of $555.72 billion, a price-to-earnings ratio of 11.68, a PEG ratio of 2.43 and a beta of 1.15.

JPMorgan Chase & Co. Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Friday, April 5th will be given a dividend of $1.15 per share. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.05. This represents a $4.60 annualized dividend and a dividend yield of 2.38%. The ex-dividend date is Thursday, April 4th. JPMorgan Chase & Co.’s dividend payout ratio is currently 27.78%.

JPMorgan Chase & Co. 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.