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Merriman Wealth Management LLC Cuts Position in JPMorgan Chase & Co. (NYSE:JPM)

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Merriman Wealth Management LLC lessened its stake in JPMorgan Chase & Co. (NYSE:JPM) by 14.3% in the first quarter, HoldingsChannel.com reports. The firm owned 4,035 shares of the financial services provider’s stock after selling 673 shares during the quarter. Merriman Wealth Management LLC’s holdings in JPMorgan Chase & Co. were worth $550,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in JPM. ACT Wealth Management LLC increased its holdings in shares of JPMorgan Chase & Co. by 25.5% in the 4th quarter. ACT Wealth Management LLC now owns 2,749 shares of the financial services provider’s stock valued at $435,000 after purchasing an additional 559 shares in the last quarter. Exane Asset Management purchased a new position in JPMorgan Chase & Co. during the 4th quarter valued at about $26,485,000. Steph & Co. increased its holdings in JPMorgan Chase & Co. by 12.9% during the 4th quarter. Steph & Co. now owns 8,109 shares of the financial services provider’s stock valued at $1,284,000 after acquiring an additional 929 shares in the last quarter. Members Trust Co increased its holdings in JPMorgan Chase & Co. by 7.6% during the 4th quarter. Members Trust Co now owns 8,659 shares of the financial services provider’s stock valued at $1,371,000 after acquiring an additional 614 shares in the last quarter. Finally, EFG Asset Management Americas Corp. increased its holdings in JPMorgan Chase & Co. by 0.4% during the 4th quarter. EFG Asset Management Americas Corp. now owns 104,980 shares of the financial services provider’s stock valued at $16,658,000 after acquiring an additional 420 shares in the last quarter. Hedge funds and other institutional investors own 70.35% of the company’s stock.

JPMorgan Chase & Co. Trading Down 0.0 %

NYSE JPM opened at $114.54 on Thursday. JPMorgan Chase & Co. has a one year low of $106.06 and a one year high of $172.96. The company’s 50 day moving average price is $118.98 and its 200 day moving average price is $133.58. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.82 and a current ratio of 0.83. The firm has a market capitalization of $336.41 billion, a price-to-earnings ratio of 9.19, a PEG ratio of 1.99 and a beta of 1.15.

JPMorgan Chase & Co. (NYSE:JPMGet Rating) last posted its quarterly earnings results on Thursday, July 14th. The financial services provider reported $2.76 EPS for the quarter, meeting the consensus estimate of $2.76. JPMorgan Chase & Co. had a net margin of 30.41% and a return on equity of 15.29%. The firm had revenue of $30.72 billion for the quarter, compared to analyst estimates of $31.82 billion. During the same quarter last year, the firm posted $3.78 earnings per share. JPMorgan Chase & Co.’s revenue for the quarter was up .8% compared to the same quarter last year. On average, sell-side analysts predict that JPMorgan Chase & Co. will post 11.24 EPS for the current year.

JPMorgan Chase & Co. Dividend Announcement

The firm also recently declared 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. The ex-dividend date is Tuesday, July 5th. This represents a $4.00 annualized dividend and a yield of 3.49%. JPMorgan Chase & Co.’s payout ratio is 32.10%.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on JPM. Wells Fargo & Company dropped their target price on shares of JPMorgan Chase & Co. from $120.00 to $118.00 and set an “equal weight” rating for the company in a report on Thursday, July 14th. UBS Group dropped their target price on shares of JPMorgan Chase & Co. from $134.00 to $126.00 and set a “buy” rating for the company in a report on Friday, July 15th. Credit Suisse Group decreased their price target on shares of JPMorgan Chase & Co. from $160.00 to $145.00 and set an “outperform” rating on the stock in a research note on Friday, July 15th. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $148.00 price target (up from $142.00) on shares of JPMorgan Chase & Co. in a research note on Tuesday, May 24th. Finally, Royal Bank of Canada decreased their price target on shares of JPMorgan Chase & Co. to $130.00 in a research note on Thursday, July 14th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $145.95.

JPMorgan Chase & Co. Company 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.

Further Reading

Want to see what other hedge funds are holding JPM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for JPMorgan Chase & Co. (NYSE:JPMGet Rating).

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