Novare Capital Management LLC Reduces Position in JPMorgan Chase (JPM)

Novare Capital Management LLC reduced its position in shares of JPMorgan Chase (NYSE:JPM) by 1.1% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 62,681 shares of the financial services provider’s stock after selling 666 shares during the period. Novare Capital Management LLC’s holdings in JPMorgan Chase were worth $6,703,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of JPM. Legal & General Group Plc increased its holdings in JPMorgan Chase by 1.8% during the 3rd quarter. Legal & General Group Plc now owns 18,083,319 shares of the financial services provider’s stock worth $1,727,118,000 after purchasing an additional 313,968 shares in the last quarter. Capital International Investors increased its holdings in JPMorgan Chase by 4.6% during the 3rd quarter. Capital International Investors now owns 18,080,222 shares of the financial services provider’s stock worth $1,726,842,000 after purchasing an additional 802,024 shares in the last quarter. Jennison Associates LLC increased its holdings in JPMorgan Chase by 11.7% during the 4th quarter. Jennison Associates LLC now owns 17,180,823 shares of the financial services provider’s stock worth $1,837,317,000 after purchasing an additional 1,804,721 shares in the last quarter. Schwab Charles Investment Management Inc. increased its holdings in JPMorgan Chase by 3.0% during the 4th quarter. Schwab Charles Investment Management Inc. now owns 12,689,478 shares of the financial services provider’s stock worth $1,356,838,000 after purchasing an additional 373,921 shares in the last quarter. Finally, American Century Companies Inc. increased its holdings in JPMorgan Chase by 9.3% during the 4th quarter. American Century Companies Inc. now owns 10,898,177 shares of the financial services provider’s stock worth $1,165,451,000 after purchasing an additional 925,232 shares in the last quarter. 74.26% of the stock is currently owned by institutional investors and hedge funds.

In other news, Director Mellody L. Hobson acquired 18,000 shares of JPMorgan Chase stock in a transaction on Monday, April 16th. The stock was acquired at an average cost of $111.05 per share, with a total value of $1,998,900.00. Following the completion of the acquisition, the director now owns 864 shares in the company, valued at $95,947.20. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.73% of the stock is currently owned by corporate insiders.

A number of brokerages have commented on JPM. Vetr raised JPMorgan Chase from a “strong sell” rating to a “sell” rating and set a $102.07 price objective for the company in a report on Tuesday, February 6th. Zacks Investment Research lowered JPMorgan Chase from a “buy” rating to a “hold” rating in a report on Tuesday, March 20th. BMO Capital Markets reissued a “hold” rating and set a $110.00 price objective on shares of JPMorgan Chase in a report on Friday, April 13th. Keefe, Bruyette & Woods raised JPMorgan Chase from a “market perform” rating to an “outperform” rating and set a $127.00 price objective for the company in a report on Tuesday, February 13th. Finally, Deutsche Bank set a $96.00 price objective on JPMorgan Chase and gave the stock a “neutral” rating in a report on Tuesday, January 16th. Two equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and fourteen have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $112.75.

JPMorgan Chase opened at $113.90 on Tuesday, Marketbeat reports. The company has a market capitalization of $390.76 billion, a PE ratio of 14.77, a price-to-earnings-growth ratio of 1.89 and a beta of 1.24. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.01 and a quick ratio of 1.01. JPMorgan Chase has a 12-month low of $113.75 and a 12-month high of $114.69.

JPMorgan Chase (NYSE:JPM) last released its earnings results on Friday, April 13th. The financial services provider reported $2.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.28 by $0.09. JPMorgan Chase had a return on equity of 12.60% and a net margin of 22.53%. The company had revenue of $27.90 billion during the quarter, compared to analyst estimates of $27.73 billion. During the same period in the prior year, the company posted $1.65 earnings per share. JPMorgan Chase’s quarterly revenue was up 12.0% on a year-over-year basis. analysts anticipate that JPMorgan Chase will post 9.05 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 30th. Shareholders of record on Friday, April 6th were issued a dividend of $0.56 per share. This represents a $2.24 annualized dividend and a yield of 1.97%. The ex-dividend date of this dividend was Thursday, April 5th. JPMorgan Chase’s dividend payout ratio (DPR) is 32.61%.

About JPMorgan Chase

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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Institutional Ownership by Quarter for JPMorgan Chase (NYSE:JPM)

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