GSB Wealth Management LLC Reduces Position in JPMorgan Chase & Co. (NYSE:JPM)

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GSB Wealth Management LLC lessened its position in shares of JPMorgan Chase & Co. (NYSE:JPM) by 4.0% during the first quarter, HoldingsChannel reports. The institutional investor owned 25,735 shares of the financial services provider’s stock after selling 1,084 shares during the quarter. JPMorgan Chase & Co. accounts for about 1.0% of GSB Wealth Management LLC’s holdings, making the stock its 22nd biggest position. GSB Wealth Management LLC’s holdings in JPMorgan Chase & Co. were worth $3,508,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in JPM. Norges Bank acquired a new stake in shares of JPMorgan Chase & Co. in the 4th quarter valued at approximately $4,092,843,000. GQG Partners LLC lifted its holdings in shares of JPMorgan Chase & Co. by 403.3% in the 4th quarter. GQG Partners LLC now owns 5,095,612 shares of the financial services provider’s stock valued at $806,728,000 after buying an additional 4,083,231 shares during the period. Renaissance Technologies LLC lifted its holdings in shares of JPMorgan Chase & Co. by 1,543.7% in the 4th quarter. Renaissance Technologies LLC now owns 3,341,486 shares of the financial services provider’s stock valued at $529,124,000 after buying an additional 3,138,200 shares during the period. State Street Corp raised its holdings in JPMorgan Chase & Co. by 1.6% during the fourth quarter. State Street Corp now owns 141,720,090 shares of the financial services provider’s stock worth $22,441,376,000 after purchasing an additional 2,277,065 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC acquired a new position in JPMorgan Chase & Co. during the fourth quarter worth $277,382,000. 70.35% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages recently issued reports on JPM. Jefferies Financial Group reduced their price objective on JPMorgan Chase & Co. from $137.00 to $126.00 and set a “hold” rating for the company in a report on Monday, July 11th. Barclays set a $200.00 price objective on JPMorgan Chase & Co. in a report on Monday, July 18th. UBS Group reduced their price objective on JPMorgan Chase & Co. from $134.00 to $126.00 and set a “buy” rating for the company in a report on Friday, July 15th. Royal Bank of Canada reduced their price objective on JPMorgan Chase & Co. to $130.00 in a report on Thursday, July 14th. Finally, Citigroup raised JPMorgan Chase & Co. from a “neutral” rating to a “buy” rating and dropped their price target for the stock from $145.00 to $135.00 in a research report on Tuesday, July 12th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $145.95.

JPMorgan Chase & Co. Price Performance

Shares of JPMorgan Chase & Co. stock opened at $113.42 on Wednesday. JPMorgan Chase & Co. has a twelve month low of $106.06 and a twelve month high of $172.96. The stock has a market capitalization of $333.12 billion, a P/E ratio of 9.10, a PEG ratio of 2.04 and a beta of 1.15. The company has a current ratio of 0.83, a quick ratio of 0.82 and a debt-to-equity ratio of 1.14. The business’s fifty day moving average price is $118.60 and its 200 day moving average price is $131.94.

JPMorgan Chase & Co. (NYSE:JPMGet Rating) last issued its earnings results on Thursday, July 14th. The financial services provider reported $2.76 earnings per share for the quarter, meeting analysts’ consensus estimates of $2.76. JPMorgan Chase & Co. had a return on equity of 15.29% and a net margin of 30.41%. The firm had revenue of $30.72 billion for the quarter, compared to analysts’ expectations of $31.82 billion. During the same quarter last year, the firm earned $3.78 earnings per share. The firm’s revenue for the quarter was up .8% compared to the same quarter last year. As a group, research analysts anticipate that JPMorgan Chase & Co. will post 11.24 earnings per share for the current year.

JPMorgan Chase & Co. Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Sunday, July 31st. Investors of record on Wednesday, July 6th will be issued a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a yield of 3.53%. The ex-dividend date of this dividend is Tuesday, July 5th. JPMorgan Chase & Co.’s payout ratio is currently 32.10%.

JPMorgan Chase & Co. Profile

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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 s deposit, investment and lending products, payments, and services to consumers; lending, deposit, and cash management and payment solutions to small businesses; mortgage origination and servicing activities; residential mortgages and home equity loans; and credit card, auto loan, and leasing services.

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