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

Parsons Capital Management Inc. RI trimmed its stake in JPMorgan Chase & Co. (NYSE:JPM) by 0.7% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 144,565 shares of the financial services provider’s stock after selling 978 shares during the quarter. JPMorgan Chase & Co. makes up 2.0% of Parsons Capital Management Inc. RI’s holdings, making the stock its 6th largest 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.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Stone House Investment Management LLC lifted its position in shares of JPMorgan Chase & Co. by 132.8% in the 4th quarter. Stone House Investment Management LLC now owns 156 shares of the financial services provider’s stock valued at $27,000 after acquiring an additional 89 shares in the last quarter. Macroview Investment Management LLC raised its stake in JPMorgan Chase & Co. by 7,833.3% during the 3rd quarter. Macroview Investment Management LLC now owns 238 shares of the financial services provider’s stock valued at $34,000 after purchasing an additional 235 shares during the period. Richardson Capital Management LLC purchased a new stake in shares of JPMorgan Chase & Co. in the first quarter valued at $34,000. Bare Financial Services Inc purchased a new stake in shares of JPMorgan Chase & Co. in the fourth quarter valued at $35,000. Finally, Partnership Wealth Management LLC acquired a new stake in shares of JPMorgan Chase & Co. in the fourth quarter worth $36,000. 71.55% of the stock is owned by institutional investors and hedge funds.

JPMorgan Chase & Co. Stock Performance

Shares of JPM stock traded up $0.12 during trading on Friday, reaching $193.49. The company had a trading volume of 6,413,655 shares, compared to its average volume of 10,240,044. The firm’s 50 day simple moving average is $190.36 and its two-hundred day simple moving average is $170.91. JPMorgan Chase & Co. has a one year low of $131.81 and a one year high of $200.94. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.92 and a quick ratio of 0.91. The company has a market capitalization of $555.72 billion, a PE ratio of 11.68, a PEG ratio of 2.43 and a beta of 1.15.

JPMorgan Chase & Co. Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Friday, April 5th will be given a $1.15 dividend. This is a positive change from JPMorgan Chase & Co.’s previous quarterly dividend of $1.05. The ex-dividend date is Thursday, April 4th. This represents a $4.60 dividend on an annualized basis and a dividend yield of 2.38%. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is currently 27.78%.

Insider Transactions at JPMorgan Chase & Co.

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

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on JPM. The Goldman Sachs Group reissued a “buy” rating on shares of JPMorgan Chase & Co. in a research note on Thursday, February 1st. UBS Group reduced their price target on shares of JPMorgan Chase & Co. from $226.00 to $219.00 and set a “buy” rating for the company in a research report on Tuesday, April 16th. Wells Fargo & Company boosted their price objective on shares of JPMorgan Chase & Co. from $200.00 to $220.00 and gave the company an “overweight” rating in a research report on Wednesday, March 20th. Oppenheimer cut their target price on shares of JPMorgan Chase & Co. from $219.00 to $217.00 and set an “outperform” rating for the company in a research report on Monday, April 15th. Finally, Keefe, Bruyette & Woods boosted their price target on shares of JPMorgan Chase & Co. from $182.00 to $195.00 and gave the company a “market perform” rating in a report on Friday, April 5th. Eight equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $192.05.

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.