Patriot Wealth Management Inc. cut its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 28.1% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 105,602 shares of the financial services provider’s stock after selling 41,260 shares during the period. JPMorgan Chase & Co. comprises approximately 1.6% of Patriot Wealth Management Inc.’s holdings, making the stock its 15th largest position. Patriot Wealth Management Inc. owned approximately 30.44% of JPMorgan Chase & Co. worth $10,086,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. David R. Rahn & Associates Inc. acquired a new stake in JPMorgan Chase & Co. in the second quarter valued at approximately $1,458,000. Ironwood Investment Management LLC lifted its stake in JPMorgan Chase & Co. by 61.9% in the second quarter. Ironwood Investment Management LLC now owns 6,668 shares of the financial services provider’s stock valued at $609,000 after acquiring an additional 2,550 shares during the last quarter. Gamble Jones Investment Counsel lifted its stake in JPMorgan Chase & Co. by 0.6% in the second quarter. Gamble Jones Investment Counsel now owns 49,959 shares of the financial services provider’s stock valued at $4,566,000 after acquiring an additional 276 shares during the last quarter. Grove Bank & Trust lifted its stake in JPMorgan Chase & Co. by 16.9% in the second quarter. Grove Bank & Trust now owns 9,787 shares of the financial services provider’s stock valued at $895,000 after acquiring an additional 1,417 shares during the last quarter. Finally, Lee Danner & Bass Inc. lifted its stake in JPMorgan Chase & Co. by 0.4% in the second quarter. Lee Danner & Bass Inc. now owns 17,494 shares of the financial services provider’s stock valued at $1,599,000 after acquiring an additional 69 shares during the last quarter. 73.80% of the stock is currently owned by hedge funds and other institutional investors.

A number of analysts have issued reports on the stock. Keefe, Bruyette & Woods reiterated a “hold” rating on shares of JPMorgan Chase & Co. in a research note on Wednesday, October 11th. Deutsche Bank cut shares of JPMorgan Chase & Co. from a “buy” rating to a “hold” rating and lifted their target price for the company from $90.00 to $96.00 in a research note on Tuesday, September 26th. Vining Sparks reiterated a “buy” rating and issued a $120.00 target price on shares of JPMorgan Chase & Co. in a research note on Friday, January 12th. Royal Bank of Canada reiterated a “buy” rating on shares of JPMorgan Chase & Co. in a research note on Friday, December 8th. Finally, Nomura boosted their price objective on shares of JPMorgan Chase & Co. from $87.00 to $91.00 and gave the stock a “neutral” rating in a research note on Friday, October 13th. Three analysts have rated the stock with a sell rating, eleven have issued a hold rating and fifteen have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $105.81.

JPMorgan Chase & Co. (JPM) opened at $114.33 on Tuesday. The company has a market cap of $396,690.00, a price-to-earnings ratio of 16.52, a P/E/G ratio of 1.93 and a beta of 1.22. JPMorgan Chase & Co. has a one year low of $81.64 and a one year high of $114.39. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.03 and a current ratio of 1.01.

JPMorgan Chase & Co. (NYSE:JPM) last released its earnings results on Friday, January 12th. The financial services provider reported $1.76 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.69 by $0.07. The firm had revenue of $24.15 billion during the quarter, compared to analysts’ expectations of $24.87 billion. JPMorgan Chase & Co. had a net margin of 21.46% and a return on equity of 11.63%. The business’s quarterly revenue was up 3.3% compared to the same quarter last year. During the same period in the prior year, the company earned $1.71 EPS. equities analysts predict that JPMorgan Chase & Co. will post 8.78 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 31st. Investors of record on Friday, January 5th will be paid a dividend of $0.56 per share. This represents a $2.24 annualized dividend and a yield of 1.96%. The ex-dividend date of this dividend is Thursday, January 4th. JPMorgan Chase & Co.’s payout ratio is currently 32.37%.

In related news, General Counsel Stacey Friedman sold 2,099 shares of the company’s stock in a transaction on Thursday, October 26th. The shares were sold at an average price of $101.96, for a total transaction of $214,014.04. Following the completion of the transaction, the general counsel now directly owns 15,279 shares in the company, valued at approximately $1,557,846.84. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Peter Scher sold 26,532 shares of the business’s stock in a transaction on Friday, January 19th. The shares were sold at an average price of $113.42, for a total transaction of $3,009,259.44. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 154,146 shares of company stock valued at $17,312,129. Corporate insiders own 0.88% of the company’s stock.

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JPMorgan Chase & Co. Company Profile

JPMorgan Chase & Co is a financial holding company. The Company is engaged in investment banking, financial services. It operates in four segments, as well as a Corporate segment. Its segments are Consumer & Community Banking, Corporate & Investment Bank, Commercial Banking and Asset Management. The Consumer & Community Banking segment offers services to consumers and businesses through bank branches, automatic teller machines (ATMs), online, mobile and telephone banking.

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

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