Essex Financial Services Inc. Decreases Position in JPMorgan Chase & Co. (JPM)

Essex Financial Services Inc. trimmed its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 2.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 64,928 shares of the financial services provider’s stock after selling 1,477 shares during the period. JPMorgan Chase & Co. accounts for about 1.7% of Essex Financial Services Inc.’s holdings, making the stock its 13th biggest holding. Essex Financial Services Inc.’s holdings in JPMorgan Chase & Co. were worth $6,943,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also made changes to their positions in the stock. Welch Investments LLC purchased a new position in JPMorgan Chase & Co. in the 3rd quarter valued at about $103,000. Cerebellum GP LLC purchased a new position in JPMorgan Chase & Co. in the 4th quarter valued at about $119,000. Price Wealth Management Inc. purchased a new position in JPMorgan Chase & Co. in the 4th quarter valued at about $124,000. Lipe & Dalton purchased a new position in JPMorgan Chase & Co. in the 3rd quarter valued at about $143,000. Finally, Americafirst Capital Management LLC purchased a new position in JPMorgan Chase & Co. in the 3rd quarter valued at about $143,000. 72.18% of the stock is owned by hedge funds and other institutional investors.

JPM has been the subject of a number of analyst reports. Jefferies Group reissued a “buy” rating and issued a $131.00 price objective (up from $124.00) on shares of JPMorgan Chase & Co. in a research report on Wednesday, February 21st. ValuEngine raised shares of JPMorgan Chase & Co. from a “hold” rating to a “buy” rating in a research report on Friday, February 2nd. Zacks Investment Research raised shares of JPMorgan Chase & Co. from a “hold” rating to a “buy” rating and set a $129.00 price objective for the company in a research report on Monday, March 19th. Edward Jones raised shares of JPMorgan Chase & Co. from a “hold” rating to a “buy” rating in a research report on Thursday, March 22nd. Finally, Vetr cut shares of JPMorgan Chase & Co. from a “strong-buy” rating to a “buy” rating and set a $123.29 price objective for the company. in a research report on Thursday, April 5th. Two research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and fourteen have given a buy rating to the company’s stock. JPMorgan Chase & Co. has an average rating of “Hold” and a consensus price target of $112.75.

In other JPMorgan Chase & Co. news, Director Todd A. Combs acquired 13,000 shares of the company’s stock in a transaction that occurred on Monday, May 14th. The shares were purchased at an average price of $114.61 per share, for a total transaction of $1,489,930.00. Following the completion of the purchase, the director now directly owns 18,277 shares in the company, valued at $2,094,726.97. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Mellody L. Hobson acquired 18,000 shares of the company’s stock in a transaction that occurred on Monday, April 16th. The shares were acquired at an average price of $111.05 per share, for a total transaction of $1,998,900.00. Following the purchase, the director now owns 864 shares of the company’s stock, valued at $95,947.20. The disclosure for this purchase can be found here. 0.73% of the stock is owned by corporate insiders.

JPM opened at $112.49 on Thursday. The stock has a market cap of $387.85 billion, a P/E ratio of 16.37, a price-to-earnings-growth ratio of 1.87 and a beta of 1.24. JPMorgan Chase & Co. has a fifty-two week low of $81.64 and a fifty-two week high of $119.33. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 1.19.

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

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 31st. Investors of record on Friday, July 6th will be paid a dividend of $0.56 per share. The ex-dividend date of this dividend is Thursday, July 5th. This represents a $2.24 annualized dividend and a yield of 1.99%. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is 32.61%.

About JPMorgan Chase & Co.

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 & Co. (NYSE:JPM)

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